Damac Announces $500m London Share Listing

Citigroup and Deutsche Bank are joint bookrunners for the offering.

IDB To Launch $10bn Islamic Bond Programme In Dubai

Dubai’s exchanges have so far listed $12.5 billion of sukuk and the total is expected to reach $16 billion by year-end.

NBAD Eyes Emerging Markets For Growth – CEO

The UAE lender plans to set up eight banking hubs in major cities and five franchises in key markets.

Morgan Stanley Sees Worst Over For Middle East Banking

The American bank is targeting clients looking for advice on complex transactions that require global expertise

UAE Expats Feel The Pinch Of Rising Cost Of Living

UAE expats have one of the lowest levels of disposable income in the world despite higher salaries.

Mashreq Predicts Smart Banking Retail Boom

UAE bank predicts a boom in the retail sector next year through smart banking initiatives.

S&P Dow Jones To Upgrade UAE, Qatar To Emerging Market Status

The UAE’s current foreign ownership limit of 49 per cent is satisfactory and there is an expectation that it will be relaxed in coming years.

Qatar Fund Builds Small Stakes In BofA, Samsung

The fund has a stake worth about $1 billion in Bank of America, while its Samsung stake is worth between $200-$300 million.

Mashreq Posts 34% Profit Rise

The lender reported profit of Dhs1.3 billion for the first three quarters compared to Dhs970 million in the same period last year.

UNB’s Q3 Net Profit Falls 15%, Misses Forecasts

Net profit for the first nine months of this year fell to Dhs1.44 billion from Dhs1.47 billion in the prior-year period.

UAE Plans Islamic Finance Authority Backed By Legislation

A centralised approach to supervising Islamic finance is increasingly being adopted around the globe.

Jumeirah Group Raises $1.4bn Loan For Expansion

Luxury hotel chain has said the loan will help fuel further local and international expansion.

Dubai Holding Says Unit To Repay 750m Euro Bond

Dubai Holding was hit hard by Dubai’s property market crash and corporate debt troubles of 2008-2010.

Qatar Exchange Demands More Foreign Investment To Boost IPOs

The limits on foreign ownership of individual stocks have become obstacles to growth as the Gulf’s capital markets gradually become more international.

Britain Plans First Western Country Sukuk Issue

The new proposal is less than a fifth of the size of the original and is designed to boost London’s status rather than to diversify Britain’s investor base.

National Bank Of Abu Dhabi Posts 8% Profit Fall

Third-quarter net profit at the lender fell eight per cent to Dhs1.04 billion from Dhs1.12 billion in the year-ago period.

UAE Banks Are Taking Too Many Risks – IIF

The international body cautioned the UAE to be proactive in framing policies that would insulate the economy from major problems.

Saudi’s Kingdom Holding Posts 1% Q3 Net Profit Rise

The firm, owned by billionaire Prince Alwaleed bin Talal, attributed the profit gain to an increase in gains on investments

Dubai’s Emirates NBD Eyes Turkey Buy Amid Foreign Expansion

The lender aims for 20 per cent of its revenues to come from overseas markets in five years

UAE’s First Gulf Bank Posts 13% Q3 Net Profit Gain

The lender, majority-owned by Abu Dhabi’s ruling family, made a net profit of Dhs1.19 billion for the three months ended Sept. 30

The Euro Crisis Floors Politicians, Save Merkel

Merkel was the only European politician to remain steadfast and outperform the global crisis, says Joe Hawa, chief market analyst, Alpari ME.

Kuwait’s PM Says Welfare State Is “Unsustainable”

The International Monetary Fund has repeatedly warned against rising government spending in OPEC member Kuwait.

Kuwait Bourse To Launch Derivatives Trading Next Year

A Kuwaiti investment firm has already expressed interest in trading options.

UAE Banks Federation Announces Inaugural Conference

The Middle East Banking Forum will be held on 26 November, and attract top tier representatives from regional and international lenders.

Bahrain’s Arab Banking Corp Names Kawan As Permanent CEO

Khaled Kawan replaces Hassan Ali Juma, who retired from the bank in July

UAE Approves Higher Federal Spending For 2014

UAE Prime Minister Sheikh Mohammed said that half of the federal budget of Dhs46 billion will go for development and social benefits

UAE’s Financial Advisory Businesses Buck Global Trend

Nearly three out of four UAE financial advisers are in a growth phase, a study found.

Bahrain In Early Stages Of Bank Merger Wave

The tiny kingdom’s banking industry was hit hard by the global financial crisis and, since 2011, by political unrest.

Western Expats Rank UAE As Ideal Residence

Despite high levels of expenditure on luxury, UAE-based western expats were also found to be spending on investments.

Oman’s Renaissance Unit Prices $350m Debut Bond

The five-year offering carried a coupon of 8.625 per cent