Expenditure in April-September accounts for a little over 44 per cent of the record 210.6 billion riyals Qatar plans to spend in the 2013/14 fiscal year.
The Capital Markets Authority issued the regulations in June 2013, giving companies until the end of 2014 to implement them.
Islamic banking assets grew 12.2 per cent in 2013, compared to the 11.2 per cent growth posted by conventional banks last year.
The world’s fourth-largest port operator posted annual revenues of $3.07 billion for 2013, down 1.5 per cent on 2012.
Only a quarter of Dubai firms will increase schooling allowance for employees this year, says a Mercer study.
The Dubai Department of Economic Development is currently conducting a feasibility study along with Noor Investment Group.
The lenders – Abu Dhabi Commercial Bank and Abu Dhabi Islamic Bank – are now the frontrunners to acquire the business.
The number of firms operating under DSOA grew to reach 929, the company said.
The Islamic investment firm’s unit is in the process of selling a majority stake in English soccer club Leeds United.
The loan, which refinances an existing $1.1 billion facility, attracted commitments from lenders worth more than $5 billion.
Mumtalakat had $7.1 billion of assets under management at the end of September and holds stake in 40 firms in Bahrain’s non-oil sector.
Around 90 per cent of the GCC’s high net worth individuals are more focused on wealth generation than preservation.
Dubai’s largest listed property developer has said it would list 25 per cent of its shopping malls and retail unit.
Bueno replaces Michel Accad who resigned in October last year.
London remained the favourite Western destination for regional real estate investors.
Prior to joining Coutts, Dugan was CIO of Dubai’s Emirates NBD.
Pakistan’s central bank stated the prospective buyer had not met its standards for suitability.
Saudi Arabia’s food inflation rate in February was the lowest since November 2012.
Saudi Arabia’s central bank reserves, the vast majority of which are believed to be in U.S. dollars, grew to a record $718 billion in January.
The debt is being rolled over for five years at a one per cent annual interest rate, WAM said in an official statement.
Receptionists, accountants and human resource professionals are the most sought after groups among the employers in the UAE.
Saudi Arabia, which pegs its riyal currency to the U.S. dollar, has kept its repo rate at 2.0 per cent since January 2009.
Saudi Arabia’s central bank governor said that he expected the private sector to drive growth in the Kingdom.
The proceeds “will be primarily distributed as dividend” to Emaar shareholders, the firm said.
Qatar, Dubai and Riyadh ranked 26, 29 and 31 respectively on the Global Financial Centres Index.
Abu Dhabi Commercial Bank bought back seven per cent of its shares last year after it secured approval for a 10 per cent buyback.
The need for Islamic interbank tools is relatively acute in Oman because its Islamic banking regulations prohibit the use of commodity murabaha.
Kuwait also expects its ratio of non-performing loans to decline in 2014.
Public sector wages and operating costs have driven up Sharjah’s government spending in 2014.
Kuwait’s central bank governor said the dispute had not marred relations between his counterparts from the six-member Gulf Cooperation Council (GCC).