The country has adequate financial resources to bridge its budget gap, a senior minister has said.
The amount will be partly used to construct a fuel pipeline from Jebel Ali to the Dubai Airport.
The rating agency has cut the bank’s Middle Eastern arm’s rating from BBB+ to BBB, due to flat NPL ratio.
The Gulf state is starting investor meetings this week for a planned dollar-denominated bond issue.
The Islamic mortgage lender picks ADCB, Emirates NBD and UBS for meetings on asset-backed Sukuk.
DIFC Investments raised money through a syndicated facility to help repay the Islamic bond.
It’s unclear whether a recent surge in Islamic finance activity will lead to much-needed change.
Kuwait Investment Authority is reportedly planning to invest in Malaysia’s IHH Healthcare’s $2 billion IPO.
The seven-year Islamic bond was launched at a profit rate of seven per cent, arranging banks said.
Capivest, Elaf Bank and Capital Management House are in talks to form one new bank with larger assets.
The market regulator has implemented new rules on stock ownership in a bid for greater transparency.
Arqaam Capital says that the regional corporate bond market will also grow substantially by 2014.
The central bank has said it may allow banks to ignore lending limits when dealing with state-linked entities.
Saudi Prince Alwaleed’s Kingdom Holding has reportedly chosen two banks to manage its debut bond.
Eurozone ministers have agreed to lend the amount to help Spain revive its struggling banks.
Trading volumes at the Dubai Gold and Commodities Exchange amounted to $32.67 billion in May this year.
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Nasdaq Dubai’s future looks bleak as another stock delists ahead of MSCI’s upgrade announcement.
The investment house is expected to get a five-month added window to repay bonds of $338.6 million.
The Islamic finance industry needs to create new and diverse products to grow, says Noor CEO Hussain Al Qemzi.
Billionaire investor George Soros warns European authorities to act quickly or risk the Euro collapsing.
DIFC Investments has secured a five-year syndicated loan to repay its Sukuk maturing this month.
The European lender has received approval to merge its Omani business with Oman International Bank.
The loan will be partly guaranteed by the Dubai government, according to sources.
Abu Dhabi Islamic Bank’s UK branch, located in an upscale development, hopes to target wealthy Gulf clients in Britain.
Gulf Business rounds up the top IPOs issued in the region in terms of capital raised, as revealed by Ernst and Young.
Kuwait’s Global Investment House saw its net loss narrow to $39.3 million in the first quarter of 2012.
The five-year plan will fund the expansion of the Saudi Arabian dairy company and boost its product innovation.
The credit card global rewards currency model works for all airlines and covers all routes, the firm said.
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