Around 69 per cent of sovereign funds in the Middle East cited an increase in allocation of their investments to alternative options.
BNP Paribas, HSBC, Saudi Fransi (Credit Agricole) and Standard Chartered were the leads.
Saudi firm SAS has acquired a 51 per cent stake in Glowork, a platform that helps women in the Middle East find employment opportunities.
Founded in 1976, EIB changed its strategy away from pure asset management to a wealth management platform offering private and investment banking services to a broader client base.
Co-branded card is designed to reward and enhance loyalty among frequent flyers
Dubai’s benchmark advanced 1.2 per cent to 2,771 points, its highest finish since November 2008
GDP rose 0.6 per cent from the first quarter, according to the Ministry of Planning and Statistics.
Ahmad Mehsari from Qatar Islamic Bank will take over as the bank’s acting chief executive.
Egypt has received $3 billion from the UAE and $2 billion each from Saudi Arabia and Kuwait
GCC states’ expenditure on rail schemes, expansion of power generation plants and housing projects is expected to boost capital expenditure in 2013.
According to the IMF, Dubai’s total debt stands at $142 billion, or around 102 per cent of its GDP.
Bank Dhofar has appointed Abdul Omar Al-Ojaili as its acting chief executive, replacing Anthony Mahoney.
Oman aims to develop its fledgling Islamic finance industry with a debut issue of sukuk by the government.
A MasterCard study has found the UAE has one of the fastest changing payments systems.
Emirates REIT, formed in 2010, has income-generating assets worth 770 million dirhams.
Jordan was hit by a financial crisis last year as foreign aid fell and welfare payments soared.
Dubai is competing with Izmir in Turkey, Sao Paulo in Brazil and Yekaterinburg in Russia for the right to host the 2020 world’s fair.
Saudi imposes a particularly light tax burden on entrepreneurs as compared to its European counterparts, says Ernst &Young
The Abu Dhabi fund said that profit attributable to equity owners for the first half of the year was Dhs1.1 billion.
The government currently owns more than 60 companies across various sectors in the country.
The LA Lakers’ player has received a tax-free trade license from the Dubai Multi Commodities Centre (DMCC).
ADIA previously accused Citigroup of fraud in the initial arbitration.
UAE expats are “less prudent” than their counterparts in Singapore and Hong Kong with regards to financial planning.
The initial price thought on the bond is in the area of 150 basis points over the equivalent U.S Treasuries.
Currently, non-UAE nationals can own up to 15 per cent of the developer
Dubai’s companies are ‘doing well and can take care of their own debt’ according to Sheikh Ahmed bin Saeed al-Maktoum.
UAE and Saudi economies are set to grow four per cent and 4.5 per cent in 2014 respectively.
New survey finds that in the next three years, the number of Saudi SMEs operating in six or more countries will rise from 16 to 41 per cent.
The US Federal Reserve’s decision to maintain its monetary stimulus is expected to boost the the regional bond market.
Nikhil Das, a private banker, was found guilty of carrying out fraudulent transactions worth $8.4 million.