The non-OPEC oil exporter’s only previous international bond was a $225 million Eurobond sold in March 1997.
The International Monetary Fund forecasted Saudi Arabia’s GDP growth at 4.4 per cent, down from 6.8 per cent in 2012.
Penney, who resigned from RBS in March, will join First Gulf Bank as head of its expanding wholesale banking division.
The Kuwaiti Fund for Arab Economic Development will supply the amount in annual installments over a 10-year period.
Children’s education and travel are some of the other key expenses for NRIs in the UAE, finds new study.
The fund raised its exposure limit on Chinese equities to $500 million from $200 million in the third quarter.
The Kuwaiti index climbs 2.1 per cent to finish at 8,322 points.
The loan has been marketed since mid-March, with $1.6 billion of the $2 billion target already pledged by the eight arranging banks.
The merger between Al Salam Bank and BMI Bank will create a lender with assets of around BD1.7 billion.
Qatar Holding, along with Azerbaijan’s SOFAZ and Norges Bank Investment Management, invested $479-639 million each in VTB.
Early price talk for the 10-year deal, which is not redeemable for five years, was released at 230 basis points over five-year midswaps.
The lender had said in January that it would hike its paid-up capital by 50 per cent.
Taken from the Gulf Business Top 50 Banks, these are the biggest banks in Qatar by 2012 total assets.
The International Monetary Fund’s regional report warns unemployment figures and diversifying economies are still an issue.
The state-owned lender expects to begin operations in the third quarter under the name of QNB India Private Limited.
The funds raised will partly be used to buy a new vessel, refinance debt and pay investors dividends.
The state-owned firm built a crude oil pipeline from Habshan to Fujairah in the UAE.
The IMF predicts Saudi’s overall growth to reach 4.4 per cent this year, due partly to an expected decline in oil output.
Taken from the Gulf Business Top 50 Banks, these are the biggest banks in the UAE by 2012 total assets.
The new fund will be run by Qatar Holding, Qatar Petroleum International and Qatar Electricity and Water Company.
Average allocations to PE by the region’s developmental wealth funds have increased by 33 per cent in the last 12 months.
The hotel is raising the syndicated loan to refinance existing debt and provide new funds.
The Bank of London and The Middle East plans to open an office in Dubai this year to help boost its capital markets.
In April, Versace CEO Gian Giacomo Ferraris said the house may consider opening the company to outside investors to help fund expansion
The Capital Market Authority announced a series of measures designed to reduce the volatility of shares, make them harder to manipulate and improve the quality of listed companies.
The Gulf state upped its original 2012 expenditure plan by nearly 19 per cent in September 2011.
Emirates NBD plans to meet investors on roadshows in Asia, London and the UAE.
Carlyle acquired its 30 per cent stake in General Lighting for an undisclosed amount in March 2010.
Dubai hopes to tap into the trillion-dollar Islamic finance industry and has ambitious aspirations to become the global hub. Can it succeed?
ADIA said John McCarthy will oversee its existing portfolio and originate new transactions.