Emaar’s Board Approves Phased Conversion of Bonds to Shares

The conversion of all the bonds is estimated to lead to the creation of around 420 million shares.

Dubai Ruler Establishes Centre To Boost Islamic Economy

The centre will work towards promoting Dubai as a centre of Islamic finance.

Global Immigrants Send $500bn Back Home to Poorer Nations

he US is the largest source of remittances, sending $123.3 billion in 2012, the Pew analysis of World Bank data shows.

Dubai Government To Hike Staff Pay By Up To 100%

Selected employees will receive salary hikes of between 30 to 100 per cent, the government has said.

Bahrain’s GFH Names Rayes As Permanent CEO – Statement

Hisham Al Rayes had been acting CEO since March 2012.

Saudi Hollandi Bank Plans Bonus Share Issue

The lender plans to boost its share capital to SAR4.76 billion to help support its growth and capital base.

Saudi Developer ACWA Signs $472m Bridge-To-Sukuk Financing

The loan will act as a bridge financing until the company launches a sukuk issue in 2014.

UAE’s Low-Income Earners Found To Save More

The survey found that low-income earners saved two per cent more than the UAE’s general population.

Emaar Shares Fall 3.3%, Most In A Month

Dubai’s benchmark index declined 1.6 per cent, paring the surge for the year to 93 per cent.

Qatar’s CBQ Eyes Local Bank Tie-Ups, Bonds To Fund Infrastructure

The lender, which recently bought a 74.2 per cent stake in Turkey’s Alternatifbank, is also open to further foreign acquisitions, says CEO.

UAE’s Bank of Sharjah Sees 25-30% Profit Growth In 2013, 2014

The bank benefited this year from lower bad loan provisioning and the writing back of existing impairments.

Bahrain Economic Growth Slows To 4.6% In Q3

The oil sector contributed about 45 per cent of output growth, thanks to higher crude prices on global markets.

Kuwait May Impose Corporate Income Tax on National Companies

Foreign companies in Kuwait pay a 15 per cent tax.

UAE Nears Debt Listing Rules To Boost Sales: Islamic Finance

The Securities and Commodities Authority has circulated draft rules that treat sukuk and non-Shariah compliant debt separately.

MENA Economies Set To Grow In 2014

A growing young population, increasing consumption and rising budget expenditure will create investment opportunities in the region.

Dubai Index Rises To 5-Year High; Qatar Gains

The DFM General Index climbed 1.3 per cent to 3,199.88, the highest since October 2008.

ADCB, Emaar Among UAE’s Favourite Stocks

MubasherTrade report forecasts low-to-mid-single digit economic growth rates in the Middle East in 2014.

Abu Dhabi Broker ADS To Enter UK In 2014

The firm is also planning to launch an asset management and wealth management business next year.

UAE Has 37 Billionaires With A Combined Wealth Of $45bn

The country ranks second in the Middle East in terms of both its ultra-high net worth population and overall wealth.

Kuwait’s Investment Dar Gets A Third Of Creditors To Accept Deal

The sharia-compliant investor defaulted on a $100 million Islamic bond payment in 2009.

Private Equity Chief Warns Against Overseas IPOs

TVM Capital MENA chairman says overseas IPOs don’t work out in the long term.

MENA’s M&A Deal Values Rise By 76% In Q3

Increased investor interest in the Middle East is indicative of the region’s recovery, EY said.

Qatari Oil, Gas To Have Limited Impact On GDP Growth

The IMF forecast in November Qatar’s oil GDP would grow just 0.4 per cent in 2013 and decline by 1.1 per cent next year.

Dubai Investors Launch New Early-Stage Venture Capital Firm

The firm will focus on investing in high impact Middle East tech start-ups, say founders Paul Kenny and Arya Bolurfrushan.

Saudi Online Consumer Habits Increase Risks For Banks

Despite experiencing cyber attacks, the majority of Saudi Arabian consumers have not installed anti-virus software on their systems.

UAE’s NBAD Steps Up Hiring Ahead Of Expected Expo Boom

National Bank of Abu Dhabi plans to add around 900 jobs to its current headcount of 6,500 next year.

Qatar Has No Plans To Issue Debt On International Markets In 2014

The country’s finance minister said that Qatar would focus on the local market.

Julius Baer Acquires Merrill Wealth Units in U.A.E, Bahrain

The Swiss wealth manager will gain a foothold in Beirut and Manama and strengthen its existing presence in Dubai.

Dubai’s Non-Oil Foreign Trade Crosses Dhs1 Trillion In 2013

Dubai’s third quarter imports touched Dhs610 billion and have been instrumental in boosting the emirate’s trade.

Dubai Index Climbs To Five-Year High On Real Estate

The DFM General Index advanced 0.6 per cent to 3,031.80, the highest since November 2008.