Investcorp Acquires UK Education Group

The Bahraini investment group has taken over the GL Education Group, a UK-based education solutions provider.

Sorouh Elects New Chairman

The Abu Dhabi property developer, which is eyeing a possible merger with Aldar, replaced its chairman last week.

Arab Spring Hits Investor Confidence

The regional unrest will continue to dampen investor confidence in the Middle East this year, according to a survey by the CFA Institute.

Kuwait Airways Strike Costs $1mn

The strike caused by the carrier’s employees over a pay hike led to the cancellation of 10 flights within a four-hour period.

UAE To Reduce Debts Of Nationals

The central bank has instructed lenders to find means of reducing the debt burden of UAE nationals.

GCC Banks Need Better Services

While banks in the region are returning to pre-crisis levels of profit, they have to improve efficiency, says AT Kearney.

Tunisia Eyes Islamic Finance

The Tunisian government has set up a working group with Islamic finance experts to study its development in the country.

Aldar, Sorouh Dealings “Transparent”

The merger talks between the two Abu Dhabi-based developers are in compliance with corporate governance, a senior official has said.

World Developers Offered Refund

Thailand island investors on The World development have been offered a full refund.

Dubai CFOs On Hiring Spree

The majority of financial executives in Dubai are planning to increase staff this year, according to a survey.

Dubai Bank Ratings Removal Requested

Emirates NBD requests withdrawal of Dubai Bank’s Fitch and Moody’s ratings.

ADX Denies Trade Inquiry

The Abu Dhabi Securities Exchange has denied reports that it’s going to investigate trading patterns of Aldar and Sorouh.

Investcorp Buys US Properties

The Bahraini investment company has acquired a portfolio of properties in the San Francisco Bay Area for $65 million.

ENBD May Lay Off 15% Of Staff

According to sources, the UAE-based bank is planning to let go of its employees to cut costs. The bank has refused to comment.

Dubai Mulls Essex House Hotel Sale

Government-owned Dubai Group is currently reviewing the potential sale of the Manhattan-based property.

StanChart Seeks Saudi Licence

The bank has reportedly applied for a full commercial banking licence to expand its operations in the kingdom.

KIA Gets China Stock Market Quota

Kuwait’s sovereign wealth fund has obtained approval to initially invest up to $300 million in China’s securities market.

17 GCC Billionaires Make Forbes List

The region’s representatives on Forbes’ annual list of the World’s Billionaires have a combined net worth of $65.4 billion.

NMC Plans London IPO

Healthcare provider NMC hopes to raise $250 million through the listing, and plans to use the funds for further expansion.

ENBD Issues First CNY Bond

The 750 million renminbi bond, which matures in 2015, was 5.7 times oversubscribed, the bank said.

Freeze On Bahrain’s Expat Tax May Continue

The parliament has voted to extend the suspension of the tax on foreign workers for another two years, according to reports.

ME Sukuk Volumes To Reach $14bn

The issuance of Islamic bonds in the region could reach over $14 billion this year because of increasing investor demand, according to HSBC.

ME Unrest To Affect Global Asset Prices

Regional unrest might affect China’s oil input, which in turn will have a drastic impact on global asset prices, said hedge funds guru Marc Faber.

Du’s Profits Fall On Royalty Fees

The telecoms operator reported a net profit excluding royalty of Dhs1.8 billion in 2011, a 47.8 per cent rise over the previous year.

Aabar raises Arabtec Stake

The move makes the Abu Dhabi-based sovereign wealth fund one of the largest shareholders in Arabtec.

UAE Bank Deposits Rise

Total bank deposits in the UAE reached Dhs1,069.7 billion at the end of December 2011, according to the central bank.

Saudi Foreign Trade To Grow

The kingdom’s foreign trade revenue amounted to SR1300 billion in 2011 and is set to rise by 14 per cent this year.

New Commissioners At Kuwait’s CMA

Kuwait’s controversy-ridden stock market regulator, Capital Markets Authority (CMA), has appointed three new commissioners.

DFM Sees Rising Activity

The value and volume of shares traded on the Dubai Financial Market increased in February.

UAE Residents Unhappy With Pay

Many people in the country are dissatisfied with their current financial position, according to a Bayt.com-YouGov survey.