Qatar’s Stock Market Surges On MSCI Upgrade

The Gulf state’s bourse jumps to its highest level since September 2008.

Saudi Airports Agency Picks Banks For Huge Riyal Sukuk

The size of the new Islamic bond could match the firm’s record-breaking $4 billion debut sukuk issued in 2012, say sources.

Dubai World Unit Sells UK Asset To Brookfield

This is the first major sale of a foreign asset by Dubai World as it restructures its debt.

Dubai Sovereign Fund ICD Signs Upsized $2.55bn Loan

The new deal, which was arranged by a group of eight local and international banks, refinances an existing $2 billion facility.

Dubai Group’s Battered Assets A Pain For Creditors

Dubai Group and its lenders have been locked in a complex debt restructuring.

Dubai Loans Driven By Local Banks

Regional banks have been well capitalised since the 2009 crisis and now driving the economic recovery.

UAE Ready For MSCI Upgrade – Expert

The UAE and Qatar are hoping to receive an upgrade to emerging market status during a review of the MSCI indexes on Wednesday.

UAE Banks Ask Central Bank To Allow Loan Transfers For Nationals

The UAE regulator issued a circular last month, directing banks to halt loan transfers for three months.

Citigroup To Exit UAE Interbank Rate Setting Panel

The move will increase the dominance of local banks over foreign banks in the panel that determines Eibor.

Middle East Investors Eye PE, Alternatives

About 69 per cent of Middle Eastern institutional investors polled by Natixis expected to increase allocations to alternatives.

UAE Regulator To Allow Trading In Share Offer Rights

The reform allows a shareholder who does not want to or cannot subscribe to a share issue to sell the rights.

Bahrain Bank Al Khair Eyes Retail Push With Khaleeji Merger

Islamic banks Al Khair and Khaleeji have set up a committee to study the feasibility of a merger.

Qatar Central Bank To Issue QAR4bn Of Debt

The bank had said in March it would issue local debt as part of an adjustment of monetary policy.

Qatari Banks CBQ, QIB To Raise Foreign Ownership Limits

The changes are expected to be implemented in six to nine months.

Qatar Has Highest Density Of Millionaires In The World

Kuwait, Bahrain and the UAE also make it to the global top 10 nations with the highest density of millionaires.

Qatar Treasury-Bill Yields Lowest Since October 2012

Yield on the 91-day T-bills eased to 0.82 per cent on Tuesday from 0.87 per cent in May.

National Bank of Abu Dhabi Appoints New CIO

Claude Henri Chavanon replaces Alan Durrant who left NBAD recently.

REVEALED: Top 50 Banks In The Gulf

Gulf Business reveals the 50 biggest banks in the UAE, Saudi Arabia, Bahrain, Qatar, Kuwait and Oman as ranked by full-year 2012 assets.

Dubai Retailer MAF Delays Hybrid Bond Sale Citing Weak Market

The Majid Al Futtaim group planned to partly finance the $683 million acquisition of Carrefour’s stake through a hybrid bond.

dirhams

Private Equity In The GCC: Who Will Survive?

The regional PE market is still in its nascent stages, but with consolidation on the way, only the best players will survive.

Abu Dhabi Commercial Bank Repays Govt Funds In Full

The lender has repaid the remaining Dhs2.6 billion of a Dhs6.6 billion loan facility it borrowed from the government.

Bahrain Budget Deficit Widens To $601m In 2012

The deficit was lower than the BD1.33 billion initially foreseen and is equivalent to two per cent of GDP.

Alwaleed’s Kingdom Holding Sells $40m Mauritius Hotel Stake

The Saudi company sold its stake to Hawaii-based Outrigger Hotels and Resorts.

REVEALED: Top 10 Richest Countries In The World

Qatar and the UAE feature on the list of the world’s richest nations as measured by GDP per capita.

Lessons From The Cyprus Bank Heist

Depositors anywhere could have their money stolen at some point. Do you want to find yourself in that position?

Kuwait’s Burgan Gets Approval For Stake Buy In Maltese Bank

The lender has received regulatory approval to buy a 25 per cent stake in Malta’s Fimbank.

Jeddah’s Islamic Development Bank Sells $1bn Sukuk

The senior, unsecured notes priced at a profit rate of 1.535 per cent, arranging banks said.

UBP Snaps Up Lloyds International Private Banking Arm

Lloyds also said on Wednesday that it would close its business in Dubai and intended to withdraw from South Africa.

UAE Revives Plans To Build Currency Mint

The UAE’s currency, the dirham, is currently printed overseas in countries such as the UK and France.

Oman Considers Dollar Bond Issue In 2014 – Central Bank

The non-OPEC oil exporter’s only previous international bond was a $225 million Eurobond sold in March 1997.