Abu Dhabi Commercial Bank Picks Banks For Bond Issue

The UAE-based lender plans to launch a conventional bond in the coming few days, say sources.

Kuwait MPs Target Financial Help For Citizens

The proposal would be the first time Kuwait has given out financial aid.

Qatar’s CBQ Posts 19% Q4 Profit Jump, Missing Estimates

The bank earned 447 million riyals in Q4. Analysts had forecast profit of 452.4 million riyals.

New UAE Mortgage Law Expected In Second Half Of 2013

The UAE central bank is still holding negotiations with the Emirates Banks Association and no rule has been issued as yet.

Qatar Islamic Bank Appoints New CEO

Bassel Gamal will be responsible for “all the companies and institutions affiliated to QIB inside Qatar and abroad.”

Davos: Kuwait Wealth Fund Warns Of Currency War

Speaking at the World Economic Forum, Badr al-Saad fears the decline of the yen.

Global Economy To Remain Stalled in 2013, Say CEOs

PwC survey reveals that only 36% of CEOs worldwide are ‘very confident’ of their company’s growth prospects in the next 12 months.

Dubai Prices Two-Part $1.25bn Bond Offering

The two-tranche bond includes a $500 million 30-year conventional bond and a $750 million 10-year Islamic bond.

Kuwait To Partially Shut Mina Abdullah Refinery In Q2

The refinery, which produces 270,000 barrels per day, will be closed for maintenance from April to May.

Investcorp Buys Majority Stake In US Security Firm

The Bahraini investment firm has acquired a stake in US-based FishNet Security for an undisclosed sum.

Saudi Can Maintain Current Spending, Says Finance Minister

The Kingdom has budgeted expenditure of SAR820 billion for 2013, 19 per cent higher than the amount budgeted for 2012.

Greek PM To Visit Qatar To Discuss Investment

The trip follows the withdrawal of Qatar last week from a multi-billion euro tender to develop Athens’ old airport.

Dubai Successfully Taps Debt Market With $1.25bn Sale

The emirate issued a $750 million 10-year sukuk, as well as a $500 million 30-year conventional bond.

Dubai’s DIFC Sees 16% Rise In Employees

Around 14,000 people are now employed in the Dubai International Financial Centre.

Saudi’s Amwal Sells Stake In Education Group

Investment firm Amwal AlKhaleej says it has exited its investment in Saudi’s Al Rowad Education Group for a “very high return.”

Saudi Urges 50% Rise In Capital For Arab Lender

Kuwait-based Arab Fund for Economic and Social Development has a capital base of around KWD2 billion.

Dubai Eyes New Sukuk Issue, May Raise Over $1bn

The government has mandated four banks to arrange the Islamic bond, according to sources.

NBK Reports Flat Profit Growth For 2012

National Bank of Kuwait posts profits of $1,085 million for 2012, one per cent growth on the previous year.

Kingdom Holding Q4 Net Profit Rises 11.6%

The Saudi conglomerate owned by billionaire Prince Alwaleed made a net profit of $55.9 million in the fourth quarter of 2012.

UAE Central Bank Will Not Impose Mortgage Caps – Report

The central bank governor has reportedly claimed that the new rules are not imminent.

National Bank Of Oman Q4 Profit Jumps 48%

Full-year 2012 profits stood at OMR40.7 million, up 19 per cent compared to 2011.

Saudi’s Samba Q4 Profit Drops 7.8%

The bank’s net profit fell to 869 million riyals compared to forecasts of 1.1 billion.

Currency Crisis Won’t Stop Qatar’s Soc Gen Buy

The Gulf bank is buying a 77 per cent stake in National Societe Generale Bank.

UAE Banks To Propose New Mortgage Cap

The central bank is believed to be cooperating with the EBA on the plan.

Dubai’s Amlak In $1.9bn Debt Talks

The mortgage lender is in talks with a creditor committee and Dubai’s largest banks.

Investors Face Uncertainties In 2013 – Barclays

A report by the lender has warned to be wary of the US fiscal cliff, the on-going Euro crisis and the Chinese economy.

Bahrain’s Investcorp sells CCC Information Services

Investcorp sold the insurance industry software provider to US-headquartered Leonard Green & Partners.

Exclusive: Prince Alwaleed’s Kingdom Holding Plans New Digital Acquisition

Saudi-based Kingdom Holding Company, which owns a stake in Twitter, is planning a new digital acquisition, its chairman tells Gulf Business in an exclusive interview.

Saudi British Bank Q4 Net Profit Up 24.4%

The lender’s fourth quarter profit rose on higher operating income and a drop in expenses.

Riyad Bank Q4 Profit Misses Forecasts

The Saudi lender reported a rise of 4.1% in net with full year growth of 10.1 per cent.