Firms must abide by the new regulations or face fines of Dhs100,000.
The Kingdom’s monopoly utility said it would offer the sukuk to investors between Jan. 9 and Feb. 27.
EFG said Ellaicy would assume his duties immediately having served at Orascom Telecom as CFO for two years.
The benefits are estimated to cost the government BD6 million annually.
The government plans to borrow half of that amount overseas from commercial banks and “strategic partners”.
Spending this year is projected at $35.1 billion, up five per cent from the original expenditure plan in the 2013 budget.
Regional stock markets are projected to reflect expectations for solid global economic growth this year.
The Reuters survey found that 47 per cent of managers were likely to put more money into Egyptian equities, up from 33 per cent in November.
The company has not yet named a replacement for the CEO, but has announced other management changes.
Alwaleed’s Kingdom Holding bought a $300 million stake in Twitter in December 2011.
The DFM General Index fell as investors sought to take advantage of a four-day rally to pocket gains.
The group has said that its hotels division board has been carefully planned with a mix of expertise to cope with growing business demands.
Qatar, Saudi Arabia, Kuwait and the UAE agreed in 2012 to provide aid worth a total $5 billion to Morocco in the period 2012-2017.
The lender said that the decision was taken to address the huge demand from large foreign institutional investors.
The company received $53 million in dues from the Egyptian government.
Compliance teams face an increasing array of rules due to failings exposed by the financial crisis.
Governments from Dubai to Malaysia are seeking to promote Shariah-compliant bonds and become centers for Islamic finance.
A look at the GCC’s performance this year and expectations coming into 2014.
The Dubai developer gained three per cent to reach Dhs7.57 at the close of trading, its highest since September 2008.
Brent is forecast to average $104 next year, down from about $110 in 2013, Jadwa said.
Experts expect issuances to reach $40-45 billion next year, compared to $28.97 billion in 2013.
Next year’s 4.3 per cent rise in planned spending is far smaller than the 19 per cent leap envisaged by the 2013 budget plan.
The deal, valued at $2.9 million, is Hayaat Group’s first investment in East African oil exploration.
Technological expertise dominated LinkedIn’s list of skills that were in demand among professionals in 2013.
The two-year loan facility will be used to fund the lender’s general business.
Digitalisation and regulation took centre stage in GCC banking in 2013, according to Farhad Irani, EVP and head of retail banking at Mashreq.
Mesaieed Petrochemical, a unit of Qatar Petroleum, plans to launch an $880 million IPO In January.
M&A activity in the UAE has been picking up pace as market conditions improve.
Investors must step up the risk ladder to see gains, says the private bank.
Proceeds from the three-year loan will be used for general business purposes.