GDP rose 0.6 per cent from the first quarter, according to the Ministry of Planning and Statistics.
Ahmad Mehsari from Qatar Islamic Bank will take over as the bank’s acting chief executive.
Egypt has received $3 billion from the UAE and $2 billion each from Saudi Arabia and Kuwait
GCC states’ expenditure on rail schemes, expansion of power generation plants and housing projects is expected to boost capital expenditure in 2013.
According to the IMF, Dubai’s total debt stands at $142 billion, or around 102 per cent of its GDP.
Bank Dhofar has appointed Abdul Omar Al-Ojaili as its acting chief executive, replacing Anthony Mahoney.
Oman aims to develop its fledgling Islamic finance industry with a debut issue of sukuk by the government.
A MasterCard study has found the UAE has one of the fastest changing payments systems.
Emirates REIT, formed in 2010, has income-generating assets worth 770 million dirhams.
Jordan was hit by a financial crisis last year as foreign aid fell and welfare payments soared.
Dubai is competing with Izmir in Turkey, Sao Paulo in Brazil and Yekaterinburg in Russia for the right to host the 2020 world’s fair.
Saudi imposes a particularly light tax burden on entrepreneurs as compared to its European counterparts, says Ernst &Young
The Abu Dhabi fund said that profit attributable to equity owners for the first half of the year was Dhs1.1 billion.
The government currently owns more than 60 companies across various sectors in the country.
The LA Lakers’ player has received a tax-free trade license from the Dubai Multi Commodities Centre (DMCC).
ADIA previously accused Citigroup of fraud in the initial arbitration.
UAE expats are “less prudent” than their counterparts in Singapore and Hong Kong with regards to financial planning.
The initial price thought on the bond is in the area of 150 basis points over the equivalent U.S Treasuries.
Currently, non-UAE nationals can own up to 15 per cent of the developer
Dubai’s companies are ‘doing well and can take care of their own debt’ according to Sheikh Ahmed bin Saeed al-Maktoum.
UAE and Saudi economies are set to grow four per cent and 4.5 per cent in 2014 respectively.
New survey finds that in the next three years, the number of Saudi SMEs operating in six or more countries will rise from 16 to 41 per cent.
The US Federal Reserve’s decision to maintain its monetary stimulus is expected to boost the the regional bond market.
Nikhil Das, a private banker, was found guilty of carrying out fraudulent transactions worth $8.4 million.
Abraaj’s exit in Daniel O. Mercado Centre was executed through a buy-back arrangement with the Mercado family.
Kazim, whose appointment is effective next Jan. 1, will replace current DIFC governor Abdullah Mohammed Saleh.
Dubai’s index falls one per cent to 2,641 points in early trade.
Dubai’s bourse rose 2.2 per cent to 2,666 points, its highest close since Aug. 26
The lender announced on Wednesday that it was boosting the limit on foreign ownership to 20 per cent.
The lender is currently in the process of delisting Tamweel from the Dubai Financial Market.