Abu Dhabi’s Gulf Capital Gets $120m Loan For Saudi Project

The 10 year loan facility will be used to develop the first phase of the residential compound

ADCB Buys Back Shares Worth $313m

ADCB’s shares hit a 4-1/2 year high on Wednesday; the bank posted a five per cent increase in first-quarter net profit.

Citi Taps Wealthy Middle Eastern Family Firms

Citi’s family office unit is part of the private bank business which manages over $250 billion in assets and serves over a third of the world’s billionaires.

Interview: United Arab Bank CEO

The UAE lender has not opened a new branch in Dubai for almost 14 years and yet it reported a rise in net profit of 24 per cent for 2012.

Abu Dhabi’s New Financial Zone To Offer Tax-Free Benefits, Customs Exemption

The Global Marketplace Abu Dhabi could become a competitor to Dubai, currently the Gulf’s premier financial centre.

Qatar Islamic Bank Rules Out 2013 Sukuk Issues

QIB last tapped the market with a $750 million five-year sukuk in October as part of its $1.5 billion sukuk programme.

UAE’s Emal Secures $3.4bn Bank Debt

The $3.4 billion bank financing was split between a $2.925 billion portion from commercial lenders and $475 million from Islamic banks.

Mashreq Reports 57% Q1 Profit Jump

The lender made a net profit of Dhs425.3 million ($115.8 million) in Q1, an increase on the Dhs270.8 million from 2012.

Emaar Properties Q1 Net Profit Slips 8%

The Dubai-based developer’s profit was hit by increasing sales and administration expenses.

Bahrain’s Investcorp Sells Armacell For Over $655m

The private equity firm is selling German insulation firm Armacell to Charterhouse Capital Partners.

Only 10% Of UAE Indians Have Adequate Retirement Planning

The majority of the NRIs have investments in illiquid assets and expect familial support during retirement.

Kuwait Parliament Says Can’t Levy Taxes As Services Not Good Enough

The IMF has said that Kuwait’s government needs to include the tax system in its fiscal reforms.

“All Megatrends In Favour Of Africa” – Experts

The first day of the third Annual Investment Meeting in Dubai began with a heavy focus on investment in Africa.

Bahrain SWF Mumtalakat Not Joining Gulf Spending Spree

The fund holds stakes in 40 Bahraini firms including Batelco and Aluminium Bahrain (Alba).

Bahrain Picks Banks For Sovereign Bond

Any transaction is expected to be at least $500 million in size, say sources.

First Gulf Bank Q1 Profit Up 12%

FGB made a net profit of Dhs1.05 billion ($285.9 million) in the first three months of 2013, up from Dhs934.7 million in the same period of last year.

Qatar Islamic Bank Q1 Profit Drops 25%

The Islamic lender made a net profit of 291.1 million riyals ($79.99 million) during Q1, compared with 387.7 million riyals in the same period a year ago.

Qatar Resumes Gains, Dubai Boosts To New High

In Dubai, heavy buying of mid-cap stocks pushed the index up 1.6 per cent to its highest close since November 2009.

Abu Dhabi Plans Financial Free Zone, May Compete With Dubai

The area, known as the Abu Dhabi World Financial Market, is scheduled to come up on the emirate’s Al Maryah island, say sources.

ENBD’s Departing CEO: Foreign Expansion Won’t Slow

Rick Pudner was speaking at the bank’s Q1 results days after the lender announced he would step down this year.

How To Trade Stocks And Shares In The UAE

Before you jump headfirst into the local equity markets, it’s important to gain knowledge of the companies, industries and economy you’re buying shares in.

Low Wages Deter Emiratis From Accounting Careers

The lure of higher salaries along with shorter working hours and more holidays has seen a large number of Emiratis opting for a public sector career.

Abu Dhabi Commercial Bank Posts 5% Rise In Q1 Profit

The lender posted a net profit of Dhs903 million ($245.8 million) in the three months to March 31, up from Dhs861 million in the prior-year period.

M&A Deal Values In MENA Up 100% In Q1

The value of mergers & acquisitions in the region rose to $14.6 billion in the first quarter of the year, finds Ernst & Young.

Emirates NBD Q1 Profit Jumps 31%

The Dubai bank made a net profit of Dhs837 million in the three months to March 31 compared to Dhs641 million last year.

Oman Central Bank To Help Boost Lending To SMEs

Supporting smaller firms is a key part of the government’s economic policy but lending growth hit a 22 month low in February.

Bahrain’s Ahli Posts Q1 Profit Jump After Qatar Sale

The Bahrain bank would still have seen Q1 profit of 12.2 per cent without selling its 29.4 per cent stake in Qatar Foundation.

Mashreq Capital Plans $100m Islamic Equity Fund

The investment unit of the Dubai lender plans to raise between $75 million and $100 million for the fund.

Dubai Investments To Complete $191m Asset Sale This Year -CEO

The company’s first-quarter profit was likely to be about Dhs190 million, said CEO Khalid bin Kalban.

GCC Stock Markets – On The Rise Or Fall?

Record market highs fail to secure emerging market status for GCC economies, leaving regional equity markets inconclusive.