Abu Dhabi’s International Petroleum Investment Company is refinancing the $850 million, three-year loan it signed in February 2009.
Dubai’s Drydocks will present its restructuring plan for its $2.2 billion loan facility next week.
Gulf headhunters warn that widespread CV fraud from finance professionals is jeopardising the industry.
The Saudi company owned by Prince Alwaleed bin Talal plans to tap debt markets through sale of either conventional or Islamic bonds.
While the bank’s income from the country rose seven per cent last year, expenses also increased by six per cent.
Dubai-based Noor Islamic Bank clarified that it has ended all business relations with Iranian banks.
Noor Islamic Bank has reportedly been forced to cut off its banking business with Iran by the US Treasury.
The head of Bahrain’s sovereign wealth fund reportedly resigned because of differences with the board.
The Saudi Industrial Development Fund has reportedly approved 13 loans to start nine new projects in the kingdom.
The UAE-based private equity firm is holding talks to acquire Viking, an integrated oilfield service company.
Talal Al Zain is leaving Bahrain’s $9 billion sovereign wealth fund to set up an investment firm.
The Qatari conglomerate saw net profits for the year increase by 21 per cent year-on-year to reach $76.6 million.
Investors in the country have become more cautious this year and are adopting long-term strategies, says FPI.
ABC Islamic Bank announced a net profit of $8.1 million for 2011, based on lower provisioning.
The billionaire revealed that an unnamed individual had been selected to replace him as the CEO of Berkshire Hathaway.
The mall is part of a mixed-use development project located in Bellevue, Washington, that Investcorp invested in five years ago.
The Japanese bank has received approval to offer foreign investors access to Saudi Arabia’s bourse.
The Dubai Financial Market, the worst performing Gulf bourse last year, managed a small fourth quarter profit.
The UAE has reportedly expressed interest in buying the V-22 Osprey, a tilt-rotor aircraft from the US.
The ten-year Malaysian ringgit-denominated Islamic bond carried a 4.65 per cent profit rate.
The airline’s net profit for the fourth quarter of 2011 increased by seven per cent year-on-year to reach Dhs78.7 million.
The Bahraini banking group reported a 10 per cent increase in full year net profits for 2011.
Unrest in Syria is causing chaos at the country’s banks, which posted bumper profits last year.
Recruiting private bankers in the Gulf is no easy matter. The region has some of the highest staff turnover rates in the world.
The proceeds from the dual-currency loan will be used to fund the first phase of the Al-Sufouh project.
Abu Dhabi-based Al Jaber Group may hire a new CEO as part of a $1 billion restructuring plan, according to sources.
Levant Capital and Citi Venture Capital International have acquired a major stake in the Al Raya supermarket chain.
The Bahraini carrier said that the sum has been outstanding from the time Oman pulled out of Gulf Air in 2007.
The company is reportedly in talks with banks for a loan to repay its $3 billion deal that matures in October.
Dubai-based Abraaj Capital is planning to bid for Calik Holding’s media assets, according to sources.
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