New Dhs500m SME Fund In UAE

The fund, launched by NBAD and Khalifa Fund for Enterprise Development, targets Emirati entrepreneurs.

UAE To Settle Nationals’ Debt

The UAE government will settle the personal loans of citizens whose debts are less than Dhs5 million.

UAE Faces $30bn Debt Wall In 2012

According to the IMF, UAE’s state-related entities have a “significant” amount of debt maturing in the next few years.

Saudi Index Falls 10% Since April

The Kingdom’s Tadawul index has dropped on global economic fears and political instability in the Eurozone.

Greece’s Exit Will ‘Rattle’ GCC

If Greece leaves the Euro next month the impact will be indirect but significant for the Gulf, say experts.

Saudi’s IDB Plans Up To $1bn Sukuk

Islamic Development Bank plans to issue the Islamic bond in June this year, its chairman has said.

HSBC Launches Dhs1bn SME Fund

The bank said that it expects loans to the UAE’s SME sector increasing by 20 per cent this year.

New Bankruptcy Law In UAE By 2012

The final draft of the UAE’s new bankruptcy law will be ready by the end of this year, the Justice Minister has said.

Man City’s Rich Rise To Glory

Abu Dhabi shelled out close to $1 billion on Manchester City’s Barclays Premier League title, writes Neil Churchill

Invest AD JV Plan $100m Fund

A joint venture between US-based Paladin Capital Group and Invest AD plans to launch a $100 million MENA fund.

Kuwait’s Finances Concern IMF

The IMF questions Kuwait’s fiscal stimulus and warns of the sustainability of public finances.

ADIB Q1 Profit Up 5.8%

Abu Dhabi Islamic Bank reported that revenues rose 7.3 per cent to reach Dhs874.8 million during the period.

Dubai Investments Posts Q1 Profit Hike

The Dubai investment conglomerate recorded a revenue drop of three per cent during the period.

Qatar Picks Banks For Sukuk- Sources

Qatar has reportedly mandated five banks to help arrange a new sovereign Islamic bond.

Al Baraka Bank Posts Q1 Profit Rise

The Bahraini lender’s net profit rose seven per cent during the first quarter of the year to reach $57.4 million.

Mubadala To Spend $5.5bn In 2012

The Abu Dhabi investment fund said that a majority of its expenditure will relate to its semiconductor unit ATIC.

Alwaleed Eyes New Investments

The Saudi billionaire is looking for returns of 20 to 25 per cent from the investments, he told a German paper.

DFM Posts 14-Fold Jump In Q1 Net Profit

Dubai Financial Market (DFM) recorded revenues of Dhs69.1 million during the first quarter of the year.

Shuaa Capital Narrows Q1 2012 Loss

Dubai-based Shuaa Capital reduced losses by 67 per cent year-on-year in the first quarter of the year.

MENA IPOs Raise $82.8 Million In Q1 2012

The capital raised in Q1 2012 was almost four times higher than Q1 2011, but 63 per cent lower than Q4 2011.

Revealed: Top 10 GCC Banks In 2011

Gulf Business rounds up the region’s top performing banks last year based on their assets values.

Dubai’s DFSA Appoints New Chief Executive

Ian Johnston will take over from Paul Koster, who completes his term at the financial services regulator.

Dubai Sukuk To Fund Airport Expansion

Dubai will use the proceeds from its $1.25 billion Sukuk to expand its airport, according to Sheikh Ahmed al Maktoum.

Dubai Islamic Posts 11% Q1 Profit Hike

The bank reported a net profit of Dhs245 million for the first quarter of the year.

Kerzner Sells Stake in Dubai’s Atlantis

Istithmar World confirmed it has acquired a 50 per cent stake in the landmark Dubai hotel for $250 million.

ENBD CIO Dugan Resigns

Gary Dugan will be joining Royal Bank of Scotland unit Coutts in Singapore, according to sources.

Exclusive: Infosys Boss K. V. Kamath

In a rare interview, the Infosys chairman discusses why India’s economy will triumph adversity.

Kuwait’s Surplus Jumps 78%

The country’s current account surplus increased mainly because of a rise in exports.

Dubai Launches $1.25bn Sukuk: Sources

The two-part Islamic bond reportedly received strong demand in the market.

MENA M&A Values Drop 40%

The value of M&As in the region fell to $8.5 billion during the first quarter of 2012, according to Ernst &Young.