The industry is growing because of increased business activity in the region.
Skrill, an online payment system in Europe, was sold to funds advised by CVC Capital Partners.
Emirates NBD, a majority stake-holder in UP, sold down its stake from around 48 per cent to around 31.4 per cent in the first half of this year.
Political unrest and sectarian conflicts in countries like Egypt and Syria have deterred potential investments in the region.
Bullion imports are plunging as an increase in tax on financing shipments boosts costs for jewellers. But can the move really save the country’s economy?
The contractor revealed second quarter net profit of Dhs92.4 million, up from a loss of Dhs11.6 million on the same period in 2012.
Banks in Qatar have been waiting for the central bank’s guidance on how debt instruments will be treated under the new Basel standards.
The announcement papers over the economic cracks still seen on a country-by-country basis as Spain saw its economic output fall 0.1 per cent.
The surge in currency volumes trade was driven mainly by Indian Rupee futures and trading in other currencies such as the Euro and Yen.
The bank’s corporate banking, private banking and investment banking activities in the UAE are not part of the review.
Saudi’s inflation rate has been dropping for the last four months after touching a 14-month high in February.
Rainbow Hospitals, a specialised maternity and paediatric healthcare chain, is based in Hyderabad, India.
Conditions involve the extension of personal loans, the size of each loan relative to the borrower’s income, and a maximum 48-month maturity for loans.
The activities of the Abu Dhabi Fund for Development (ADFD) will also cover the entire nation of the UAE, as per a new ruling.
Saudi Telecom wants the banks to restructure a $1.2 billion loan taken for Axis Telekom.
The Dubai-based bank also announced an increase in customer deposits of 22 per cent while its customer base rose by 14 per cent.
The Dubai-based private investment bank reported net profit for the first half of the year was up 28 per cent on 2012.
Peter England, previously a senior banker at Malaysia’s CIMB Group, will take up the role.
India and Turkey’s central banks have taken contrasting approaches to the devaluing of their respective currencies.
The Islamic lender’s rating was reduced from BBB- to BB+ with a negative outlook on the back of increased sovereign and economic risk in the regions where it operates.
Net profit in the three months to June 30 was 9.5 million dinars compared with 8.6 million dinars in the same period last year.
Aldar said quarterly earnings included a one-time gain of Dhs2.6 billion principally driven by the acquisition of Sorouh’s assets.
Standard Chartered UAE recorded single digit growth in income during the first half of 2013.
The majority of businessmen in Dubai expect a profitable third quarter this year, find two official surveys.
Despite a rise in raw material prices, the Kingdom’s non-oil sector has seen slight growth.
The bank made a net profit of Dhs1.3 million in the quarter, compared with a loss of Dhs15.9 million for the same period last year.
Rory Tapner, Coutts CEO, reveals how the UK’s most famous private bank is set on carving out a slice of the region’s rapidly growing wealth.
The lender has named Abdulla Saleh al-Raisi as its chief executive officer.
Card payments, suspended in 2007, will resume with a charge of Dhs2 for all fuel purchases made.
Attracting Emirati talent into the finance sector will be a long haul process.