Emirates NBD requests withdrawal of Dubai Bank’s Fitch and Moody’s ratings.
The Abu Dhabi Securities Exchange has denied reports that it’s going to investigate trading patterns of Aldar and Sorouh.
The Bahraini investment company has acquired a portfolio of properties in the San Francisco Bay Area for $65 million.
According to sources, the UAE-based bank is planning to let go of its employees to cut costs. The bank has refused to comment.
Government-owned Dubai Group is currently reviewing the potential sale of the Manhattan-based property.
The bank has reportedly applied for a full commercial banking licence to expand its operations in the kingdom.
Kuwait’s sovereign wealth fund has obtained approval to initially invest up to $300 million in China’s securities market.
The region’s representatives on Forbes’ annual list of the World’s Billionaires have a combined net worth of $65.4 billion.
Healthcare provider NMC hopes to raise $250 million through the listing, and plans to use the funds for further expansion.
The 750 million renminbi bond, which matures in 2015, was 5.7 times oversubscribed, the bank said.
The parliament has voted to extend the suspension of the tax on foreign workers for another two years, according to reports.
The issuance of Islamic bonds in the region could reach over $14 billion this year because of increasing investor demand, according to HSBC.
Regional unrest might affect China’s oil input, which in turn will have a drastic impact on global asset prices, said hedge funds guru Marc Faber.
The telecoms operator reported a net profit excluding royalty of Dhs1.8 billion in 2011, a 47.8 per cent rise over the previous year.
The move makes the Abu Dhabi-based sovereign wealth fund one of the largest shareholders in Arabtec.
Total bank deposits in the UAE reached Dhs1,069.7 billion at the end of December 2011, according to the central bank.
The kingdom’s foreign trade revenue amounted to SR1300 billion in 2011 and is set to rise by 14 per cent this year.
Kuwait’s controversy-ridden stock market regulator, Capital Markets Authority (CMA), has appointed three new commissioners.
The value and volume of shares traded on the Dubai Financial Market increased in February.
Many people in the country are dissatisfied with their current financial position, according to a Bayt.com-YouGov survey.
Royal Bank of Scotland said it no longer requires equity research on Middle Eastern companies from Dubai’s Rasmala Investment Bank.
Abu Dhabi’s International Petroleum Investment Company is refinancing the $850 million, three-year loan it signed in February 2009.
Dubai’s Drydocks will present its restructuring plan for its $2.2 billion loan facility next week.
Gulf headhunters warn that widespread CV fraud from finance professionals is jeopardising the industry.
The Saudi company owned by Prince Alwaleed bin Talal plans to tap debt markets through sale of either conventional or Islamic bonds.
While the bank’s income from the country rose seven per cent last year, expenses also increased by six per cent.
Dubai-based Noor Islamic Bank clarified that it has ended all business relations with Iranian banks.
Noor Islamic Bank has reportedly been forced to cut off its banking business with Iran by the US Treasury.
The head of Bahrain’s sovereign wealth fund reportedly resigned because of differences with the board.
The Saudi Industrial Development Fund has reportedly approved 13 loans to start nine new projects in the kingdom.
© 2021 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.