Dubai Index Rises To 5-Year High; Qatar Gains

The DFM General Index climbed 1.3 per cent to 3,199.88, the highest since October 2008.

ADCB, Emaar Among UAE’s Favourite Stocks

MubasherTrade report forecasts low-to-mid-single digit economic growth rates in the Middle East in 2014.

Abu Dhabi Broker ADS To Enter UK In 2014

The firm is also planning to launch an asset management and wealth management business next year.

UAE Has 37 Billionaires With A Combined Wealth Of $45bn

The country ranks second in the Middle East in terms of both its ultra-high net worth population and overall wealth.

Kuwait’s Investment Dar Gets A Third Of Creditors To Accept Deal

The sharia-compliant investor defaulted on a $100 million Islamic bond payment in 2009.

Private Equity Chief Warns Against Overseas IPOs

TVM Capital MENA chairman says overseas IPOs don’t work out in the long term.

MENA’s M&A Deal Values Rise By 76% In Q3

Increased investor interest in the Middle East is indicative of the region’s recovery, EY said.

Qatari Oil, Gas To Have Limited Impact On GDP Growth

The IMF forecast in November Qatar’s oil GDP would grow just 0.4 per cent in 2013 and decline by 1.1 per cent next year.

Dubai Investors Launch New Early-Stage Venture Capital Firm

The firm will focus on investing in high impact Middle East tech start-ups, say founders Paul Kenny and Arya Bolurfrushan.

Saudi Online Consumer Habits Increase Risks For Banks

Despite experiencing cyber attacks, the majority of Saudi Arabian consumers have not installed anti-virus software on their systems.

UAE’s NBAD Steps Up Hiring Ahead Of Expected Expo Boom

National Bank of Abu Dhabi plans to add around 900 jobs to its current headcount of 6,500 next year.

Qatar Has No Plans To Issue Debt On International Markets In 2014

The country’s finance minister said that Qatar would focus on the local market.

Julius Baer Acquires Merrill Wealth Units in U.A.E, Bahrain

The Swiss wealth manager will gain a foothold in Beirut and Manama and strengthen its existing presence in Dubai.

Dubai’s Non-Oil Foreign Trade Crosses Dhs1 Trillion In 2013

Dubai’s third quarter imports touched Dhs610 billion and have been instrumental in boosting the emirate’s trade.

Dubai Index Climbs To Five-Year High On Real Estate

The DFM General Index advanced 0.6 per cent to 3,031.80, the highest since November 2008.

MENA IPOs Rebound As Market Improves

As market conditions improve, 2014 could be the year for Gulf capital listings.

UAE’s Khalifa Fund Signs $200m Agreement With Egypt

The agreement aims to develop poor areas in Egypt and maximise job creation among women and youth in the country.

Dubai Stock Market Ends Above 3,000 For First Time In 5 Years

The index climbed 0.9 per cent to 3,013 points, its highest close since October 2008.

Dubai State Fund ICD Acquires Atlantis Hotel

The firm acquired the hotel from a unit of Dubai World for an undisclosed sum.

Egypt Woos Gulf Investors, Promises Repayments To Oil Firms

Egypt promised to pay $1.5 billion of the $6 billion it says it owes foreign oil companies.

Saudi Arabia Bank Loans Cooling to ‘Healthy Levels’: Arab Credit

Bank loan growth to the private sector was 13 per cent in October, the slowest rate of expansion since May last year.

Saudi Q3 Economic Growth Picks Up As Oil Output Rebounds

The Kingdom’s economy expanded at an annual rate of 3.1 per cent in the third quarter of this year.

Majority of Finance Executives Are “Flexible” On Ethics

A study found that there is a significant gap between the belief about ethics and industry practices among finance executives.

Officials Deny Single Gulf Currency Launch

The Gulf Monetary Council has dismissed media reports of four GCC countries launching a common currency.

StanChart Set To End 10-Year Boom With Profit Drop

Standard Chartered has reported 10 consecutive years of record income and profits.

Egypt Returned $500m Deposit To Qatar

Qatar had been a firm backer of Mursi’s Muslim Brotherhood and lent or gave Egypt $7.5 billion during the year he was in power.

dirhams

Abu Dhabi Energy Fund IPIC H1 Net Profit Up 6.7%

IPIC, which owns stakes in companies such as Spain’s Cepsa and Austria’s OMV, made a net profit of Dhs3.2 billion.

Damac Raises $348m In London Share Sale

The Dubai developer is now valued at $2.65 billion.

Majority Of UAE NRIs Send Money Home – Survey

Up to 85 per cent of non-resident Indians in the UAE remit their salaries, revealed a survey by Friends Provident.

Bahrain’s Ibdar Bank Eyes Larger Deals After Three-Way Merger

Ibdar was launched as a brand on Monday following the merger of Capivest, Elaf Bank and Capital Management House.