Islamic Development Bank (IDB) has picked seven lenders to arrange meetings with fixed income investors.
The Kingdom will also provide Pakistan a credit facility of $125 million for the import of urea.
The plan will see 24,260,000 new shares offered to shareholders at a price of QAR18 per share.
Jan Bladen has been appointed executive adviser and programme lead at Abu Dhabi Global Market.
The firm will list 30 per cent of its shares on the Kingdom’s stock exchange.
Foreigners currently own two percent of the bank’s shares.
Patrick Delivanis replaces Klaus Froehlich, who is relocating to Frankfurt for a senior investment banking role.
GMS plans to sell new shares worth $100 million, as well as an undisclosed number of shares currently held by private equity backers.
The developer, which launched several new projects last year, said its total value of sales in Dubai for 2013 was Dhs12 billion.
The bank’s growth in 2014 will be fuelled by the company’s entry into the Moroccan and Libyan markets and expansion in Tunisia.
Du’s new loan will replace two existing debt facilities.
Al Sager, deputy group CEO at National Bank of Kuwait, replaces Ibrahim Dabdoub who is retiring after three decades.
Rashed al-Baloushi, CEO of the Abu Dhabi Securities Exchange, did not specify a timeframe for the proposal.
At present, nationals from GCC countries can own up to 49 per cent of Deyaar’s shares while foreigners from outside the GCC have been prohibited.
Emaar Properties is expected to report its earnings in the coming days.
The global financial crisis and political instability dented Bahrain’s banking sector but will a recent wave of M&A activity burn around its fortunes?
The loan, which was initially provided by four banks, is now being offered to other lenders interested in joining the deal, according to sources.
Oman relies on oil and gas for 87 per cent of its budget revenue.
The GCC’s young population, economic well-being and a steadily rising GDP per capita will boost retail banking.
The amount represents a compound annual growth rate (CAGR) of nearly 12 per cent.
Profit rose on the back of gains from the acquisition of Sorouh and handover of residential units.
The maturity is part of a $1.75 billion, two-tranche bond which the fund sold in 2009.
A stake in the maintenance subsidiary is expected to be sold to the public before June 2015.
The bank has severed relationships in its cash management business in the Middle East.
The bank made a net profit of 300 million riyals for Q4 2013 compared with 447.3 million riyals a year earlier.
The IMF has warned that Kuwait’s expenditure could exceed oil revenues as early as 2017.
QInvest is streamlining its operations, focusing on investment banking and asset management business.
The bank was found in material non-compliance with requirements to produce information to the financial regulator.
Qatar sovereign fund is reportedly seeking a 15-20 per cent in the troubled Italian lender.
Changes in Saudi’s mortgage law in 2013 are expected to boost banks in the GCC’s largest domestic market.