QNB will issue three-year floating rate notes
Kazim, currently CEO of DFM, replaces veteran banker Abduljalil Yousuf Darwish
The lender said the shares were converted at a price of 74.8 US cents per share
Egypt’s central bank received the $2 billion deposit from Kuwait on Sept. 26.
The bank made a net profit of $94.8 million in the three months to Sept. 30.
The Omani construction company raised OMR13.29 million through the issue.
According to a Deloitte survey, confidence among private equity professionals in exits via IPOs has increased.
The private lender’s growth plans for the Middle East are more aggressive than in other parts of the world.
Last week Belgrade launched measures to trim a budget deficit estimated by the IMF at above seven per cent of output.
In an exclusive on-the-field interview, Ron Wahid, CEO of RJI Capital, reveals how polo and business go hand-in-hand in the English countryside.
The arrangement lets either country swap 5.8 trillion Korean won for 20 billion dirham, or vice versa.
Oman’s second-largest bank by market value made a profit of OMR8.3 million
The two financial hubs held a combined $181 billion in sharia-compliant banking assets as of 2011
It’s been a landmark year for the UAE as the economy rebounds, but debt worries and nationalisation concerns still loom.
The region’s sole IPO in the third quarter of the year raised $138 million, lower than the $252.3 million raised in Q3 2012.
Abu Dhabi conglomerate Al Jaber Group set up a five-bank creditor committee in 2011 to negotiate a $4.5 billion restructuring
The proposed financing comes ahead of a $1.25 billion bond maturity in May 2014
QNB posted a net profit of QAR2.4 billion for the three months to September 30
Bank of London and The Middle East, Britain’s largest stand-alone Islamic bank, was listed on Nasdaq Dubai
The bank arranged 20 debt issuances worth around $16.3 billion in 2012
The Kingdom’s banks are benefiting from a robust economic backdrop.
Nakheel World, part of Dubai World and separate to Nakheel, will repay the money to Saudi-owned Al Falak International.
Egypt’s cabinet has flagged a 120 billion Egyptian pound investment programme for this fiscal year.
‘The Lagoons’ will have a central business district, an entrepreneurial zone and retail units.
The fund will focus on investing in companies across the Gulf, mainly in the UAE and Saudi Arabia.
The UAE is expected to grow strongly owing to the recovery of sectors like financial services and construction.
The lender is planning to hike its paid-up capital by 50 per cent.
The bank said it made SAR998 million in the three months ending September 30.
Will Abu Dhabi’s new financial zone look to rival its Dubai neighbour? Or will collaboration between the two be a wiser move for the region?
A potential US government debt default could lead to dollar depreciation and reduced business confidence.