The majority of the NRIs have investments in illiquid assets and expect familial support during retirement.
The IMF has said that Kuwait’s government needs to include the tax system in its fiscal reforms.
The first day of the third Annual Investment Meeting in Dubai began with a heavy focus on investment in Africa.
The fund holds stakes in 40 Bahraini firms including Batelco and Aluminium Bahrain (Alba).
Any transaction is expected to be at least $500 million in size, say sources.
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.
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.
In Dubai, heavy buying of mid-cap stocks pushed the index up 1.6 per cent to its highest close since November 2009.
The area, known as the Abu Dhabi World Financial Market, is scheduled to come up on the emirate’s Al Maryah island, say sources.
Rick Pudner was speaking at the bank’s Q1 results days after the lender announced he would step down this year.
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.
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.
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.
The value of mergers & acquisitions in the region rose to $14.6 billion in the first quarter of the year, finds Ernst & Young.
The Dubai bank made a net profit of Dhs837 million in the three months to March 31 compared to Dhs641 million last year.
Supporting smaller firms is a key part of the government’s economic policy but lending growth hit a 22 month low in February.
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.
The investment unit of the Dubai lender plans to raise between $75 million and $100 million for the fund.
The company’s first-quarter profit was likely to be about Dhs190 million, said CEO Khalid bin Kalban.
Record market highs fail to secure emerging market status for GCC economies, leaving regional equity markets inconclusive.
The bank posted net profit of Dhs1.41 billion ($384 million) in the first three months of 2013.
Dubai-based Michael Helou headed up Barclays Capital in the region, the lender’s investment banking arm.
The estimated figure is slightly higher than the $34 billion of total dollar issuance in 2012.
Dubai’s index rose 1.4 per cent to 1,986 points, its highest level since December 2009.
Pudner is expected to stay as CEO until his contract expires at the end of this year.
The firm posted a net profit of SAR1.55 billion, attributing the profit drop to charges relating to an Indian affiliate.
The firm made a net profit of 110.1 million riyals ($29.4 million) during the three months ended March 31, compared with 100.8 million riyals in the same period a year earlier.
The loan is a mix of Islamic and conventional financing managed by lenders including Abu Dhabi Islamic Bank and Dubai Islamic Bank.
Pudner has been at the helm of Dubai’s biggest bank since 2006 after 24 years at HSBC.
The Abu Dhabi lender is refinancing the renovation of the Parisian five-star hotel that is scheduled to re-open in May 2013.