Dubai-based Mashreq alleged ING Groep NV lost over $40 million of its money by investing it in “toxic” securities.
FGB raised its ownership from 40 per cent to 100 per cent in Aseel Islamic Finance
Over $1 billion of the money pledged will go to supply Egypt with fuel
Local banks have been quick to lend more and offer more sophisticated services as international banks nurse lingering wounds.
Dubai’s business confidence is at a record high as the announcement of the Expo 2020 host city nears.
The lender made a net profit of Dhs775 million in the three months to September, up 21 per cent from Q3 2012.
Despite signs of economic improvement, banks are still dealing with asset quality problems from the 2008 crisis, says Fitch
The Dubai-based property developer said that facilitating mortgages for non-residents would help drive real estate investments.
According to a Mercer survey, the UAE’s above global average pay rise is a long running trend in the region.
QNB will issue three-year floating rate notes
Kazim, currently CEO of DFM, replaces veteran banker Abduljalil Yousuf Darwish
The lender said the shares were converted at a price of 74.8 US cents per share
Egypt’s central bank received the $2 billion deposit from Kuwait on Sept. 26.
The bank made a net profit of $94.8 million in the three months to Sept. 30.
The Omani construction company raised OMR13.29 million through the issue.
According to a Deloitte survey, confidence among private equity professionals in exits via IPOs has increased.
The private lender’s growth plans for the Middle East are more aggressive than in other parts of the world.
Last week Belgrade launched measures to trim a budget deficit estimated by the IMF at above seven per cent of output.
In an exclusive on-the-field interview, Ron Wahid, CEO of RJI Capital, reveals how polo and business go hand-in-hand in the English countryside.
The arrangement lets either country swap 5.8 trillion Korean won for 20 billion dirham, or vice versa.
Oman’s second-largest bank by market value made a profit of OMR8.3 million
The two financial hubs held a combined $181 billion in sharia-compliant banking assets as of 2011
It’s been a landmark year for the UAE as the economy rebounds, but debt worries and nationalisation concerns still loom.
The region’s sole IPO in the third quarter of the year raised $138 million, lower than the $252.3 million raised in Q3 2012.
Abu Dhabi conglomerate Al Jaber Group set up a five-bank creditor committee in 2011 to negotiate a $4.5 billion restructuring
The proposed financing comes ahead of a $1.25 billion bond maturity in May 2014
QNB posted a net profit of QAR2.4 billion for the three months to September 30
Bank of London and The Middle East, Britain’s largest stand-alone Islamic bank, was listed on Nasdaq Dubai
The bank arranged 20 debt issuances worth around $16.3 billion in 2012
The Kingdom’s banks are benefiting from a robust economic backdrop.