India Plans To Pay $1.65bn Iran Oil Dues Via UAE Central Bank

Under the proposed new arrangement, the Reserve Bank of India would buy the dollars from authorised currency dealers, instead of the Indian oil buyers tapping the currency market.

UAE Ranks 12th Globally By Proportion of Millionaire Households

According to the report, 3.3 per cent of UAE households hold private wealth of at least $1million.

Dubai’s Arabtec Says To Protect Shareholders After CEO Quits

The company confirmed the appointment of Mohamed Al Fahim as Arabtec’s acting CEO for an unspecified “temporary period”.

Dubai’s Arabtec CEO Resigns; Fahim To Be Acting CEO

Dubai builder Arabtec’s share price plunged as much as 50 per cent in the last six weeks.

Almost 50% Of Middle East’s Finance Professionals Want To Change Jobs

A new survey finds that a quarter of finance professionals said that lack of career progression was one of the main reasons for changing jobs.

Saudis To Keep Reserve Management Strategy – Central Bank

The country’s net foreign assets are currently worth about $730 billion.

UAE’s RAKBANK Launches $500m Debut Bond Issue

RAKBANK, rated BBB-plus by Fitch, attracted books of over $1.5 billion for its offer.

Commercial Bank Of Qatar Tightens Guidance For Five-Year Bond

The lender has gathered more than $2.25 billion in orders for its bond sale so far.

Commercial Bank of Qatar To Price Benchmark 5-yr Bond On Tuesday

The lender has mandated Bank of America-Merrill Lynch, HSBC and Morgan Stanley to arrange the bond sale.

UAE’s RAKBANK Sets Initial Price Thoughts For Debut Bond Sale – Leads

The lender expects to price a deal this week, a document from lead managers said.

Up to 25% Of Top 50 Global Banks Will Launch A Banking App Store by 2016 – Gartner

Banks need to adopt a more simplified approach to apps in order for customers to fully grasp the concept, says Gartner.

Bahrain’s GFH Loses Appeal Against Kuwait Regulator Monitoring

Kuwait’s Capital Markets Authority decided to monitor the stock after it was traded in high volumes ahead of a company disclosure last year.

Iraq Ends Recovery In Dubai, Arabtec Shares

Dubai’s index drops 2.3 per cent while Abu Dhabi’s benchmark slides 1.4 per cent.

World Bank’s IFC Considering Return To Sukuk Market

A sukuk issue is still in the early stages of discussion but would likely be in the 2015 fiscal year, which starts next month, an IFC spokesperson said.

Abu Dhabi’s Al Jaber Group Signs Debt Restructuring

No figure for the amount of debt renegotiated was given in the statement, but bankers had previously said it was in the region of $4.5 billion.

UAE’s Dana Gas Says No Impact On Iraqi Kurdistan Ops From Fighting

Shares in Dana Gas dropped 4.8 per cent on Sunday as part of a wider rout in Gulf stock exchanges that was partly due to the news from Iraq.

Dubai Bourse Amends Ownership Data After Arabtec Shares Plunge

The level of Aabar’s stake in Arabtec is important because the deep-pocketed fund has backed the construction firm’s expansion to become one of the region’s largest builders.

Samena Capital Completes Acquisition of 30.6% Stake In RAK Ceramics

The investment firm will acquire 250 million shares from the ruling family of Ras Al Khaimah.

Aabar’s Stake In Arabtec Stabilises – Dubai Bourse

In a brief statement on Sunday, Dubai Financial Market said the stake had now risen slightly to 18.94 per cent.

Barclays Names Azar As Middle East Chairman

Azar has been with Barclays since September 2010, when he joined from private equity firm Kohlberg Kravis Roberts & Co.

Different Arab money

MENA SMEs Turn To Islamic Financing For Funding

A study by the International Finance Corporation (IFC) found a potential market gap of up to $13.2 billion for Islamic financing in the region.

UAE’s Al Hilal Bank Eyes Capital-Boosting Sukuk Issue

Al Hilal will meet investors in the Middle East, Hong Kong, Singapore, London and Switzerland between June 15- 23.

Etisalat’s Dollar Bonds Outperform Euro Paper In Secondary Market

Etisalat sold $4.3 billion worth of bonds in four tranches on Wednesday.

Stock News: Arabtec Slide Slows, DP World Down On Convertible Issue

Arabtec shares dropped 2.4 per cent, a much smaller fall than the 7.8 per cent drop on Tuesday.

Dubai’s DP World To Price $1bn Convertible Bond Issue Thursday

JP Morgan is acting as the global coordinator for the bond sale.

Etisalat Raises $4.3bn In Region’s Largest Corporate Bond Sale

The issue’s success was due partly to factors specific to Etisalat, including its state ownership and healthy financial profile.

UAE’s Arabtec Repeats Position Strong, To Maintain Listing

Arabtec shares have plunged 30 per cent in the last four days as a major shareholder, Aabar, cut its stake in the company.

Abu Dhabi’s Aabar Cuts Stake In Dubai Builder Arabtec

Aabar cut it stake from 21.6 per cent to 18.85 per cent since Sunday.

UAE To Cut Fiscal Spending, Faces Risks In Property Sector – IMF

The IMF warned that with rent controls recently loosened, there is a risk that rising real estate prices will lead to a hike in inflation in the UAE.

Dubai’s Emaar Malls Attracts Strong Demand For Debut Sukuk

The 10-year sukuk received orders worth more than $5.4 billion.