Saudi British Bank Q1 Profit Rises 14%

The bank said it made 1.08 billion Saudi riyals ($287.97 million) in the three months ending March 31.

Dubai’s Limitless Asks Creditors For More Time To Repay $1.2bn Debt

Limitless, a former property arm of Dubai World, restructured the Islamic debt facility in October 2012.

UAE Central Bank To Launch Overnight Lending Facility On Apr 15

The Interim Marginal Lending Facility will allow lenders to use certain assets as collateral to swap for one-day loans.

Dubai Tells Global Bankers To Expect Another Boom

The emirate organised its first big investor roadshow since the crisis in London.

Samsung Electronics’ Lower Q1 Estimate Highlights Smartphone Challenges

Samsung estimated that its January-March operating profit fell by 4.3 per cent to 8.4 trillion won ($7.96 billion).

Emirates NBD May Write Back Dubai World Exposure

The Dubai lender provisioned five per cent of its total Dhs9 billion ($2.5 billion) exposure to Dubai World.

UAE Company Marka To Launch IPO In Dubai, Plans DFM Listing

The 12-day offer of 275 million shares at Dhs1 each, represents 55 per cent of the company’s capital.

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Middle East Banks “Scared” Of Social Media – Senior Banker

Lenders in the region must create effective social media strategies if they want to thrive in the future, say experts.

Dubai’s Sheikh Ahmed Says Agreement In Principle On UAE Bourse Merger

Advisors had been appointed last year to help facilitate a merger of the exchanges, but the idea has been discussed sporadically for years without a deal.

UAE NRIs Will Increase Investments In India Post Elections – Survey

The majority of respondents expect investor friendly policies as India elects new government.

Dubai’s Emirates REIT Expands IPO Due To Strong Demand

Emirates REIT will raise $175 million in the IPO, which was 3.5 times oversubscribed, by selling 128.68 million new shares.

Aldar Considers Eventual IPO Of Property Management Unit

The Abu Dhabi real estate developer owns a 60 per cent stake in property management firm Khidmah.

Bahrain’s Investcorp Tie-Up Targets European Distressed Debt

Investcorp will provide capital to Eyck, a newly established investment manager founded by Khing Oei.

Saudi’s Jarir Q1 Net Up 11.3% Despite Slower Sales Growth

Jarir made 201.3 million riyals ($53.7 million) in the first three months of 2014.

Saudi Hollandi Bank Q1 Net Profit Rises 20%

The bank made a profit of 417 million riyals ($111.19 million)in the three months to March 31, according to a bourse statement.

Saudi’s Riyad Bank Q1 Net Profit Up 13.5%

The bank made 1.08 billion riyals ($288 million) in the three months ending March 31.

Different Arab money

Kuwait’s NIG Says Signs MoU To Sell 30% Of Noor For $99m

The deal will bring it a profit of 7.5 million dinars, the firm said in a statement to the Dubai bourse.

Barclays To Sell UAE Retail Ops To Abu Dhabi Islamic Bank For $177m

Abu Dhabi Islamic Bank said it would acquire 110,000 customers through the deal.

Alpen To Advise On $3bn Of GCC-India M&A Deals In 2014

GCC and India focussed investment bank expects significant interest from Indian investors this year.

UniCredit CEO Says Etihad Good Partner For Alitalia

UniCredit, which is one of Alitalia’s creditor banks, owns a 13 per cent stake in the airline after it took part in a 500 million euro share issue.

Etihad’s Proposal For Alitalia Not Seen Before Monday-Sources

Etihad has finished reviewing Alitalia’s books as it considers whether to invest as much as 300 million euros via a capital increase, sources say.

Dubai’s Deyaar Approves 25% Foreign Ownership

The company said the shareholders approved the allocation at a meeting on Thursday.

Saudi’s Maaden Says Secures $2 Billion Loan For Phosphate Plan

The loan will be for 17 years and will be repaid in twice yearly instalments after a five-year grace period, Maaden said in a bourse statement.

New Dubai Sukuk Standards Seek To Clarify Liability, Rights

The Dubai Financial Market’s new rules are part of broader efforts to develop Islamic business in the emirate.

Dubai Buys Stake In Luxury Hotel Manager Kerzner

Dubai’s ICD has agreed to buy about 46 per cent of Kerzner International, sources say.

Commercial Bank Of Kuwait To Convert To Islamic Banking

Around 85 per cent of shareholders had approved the lender’s new move, the bank’s chairman said.

Saudi March Business Activity Growth At Five-Month Low

Output growth slowed to 60.0 points while new orders growth slowed to 65.8 points, a new survey shows.

Dubai World Hires Blackstone To Look At Debt Options

The conglomerate ran into trouble after Dubai’s 2009 property market crash and had to restructure $25 billion of debt.

Sudan Says Qatar To Deposit $1bn As Part Of Aid Package

A sudanese official declined to disclose the total value of aid that Qatar had agreed to offer Sudan.

Dubai To Challenge London With Islamic Financing Platform

The NASDAQ Dubai bourse now hopes to grab some of that business with its own murabaha trading system.