Dubai’s Mashreq Says Majed Saif al-Ghurair Resigns From Board

The lender did not provide any reason for his resignation.

HSBC Gets UAE Central Bank Nod For Lloyds Acquisition

HSBC Middle East is taking over Lloyds’ retail, commercial and corporate banking business in the UAE.

Europe Has Become Largely Irrelevant, Says Kevin Rudd

Ex-PM of Australia pans Europe and says regional unemployment levels are ‘shocking’.

Kuwait Nominal GDP Grew 29% In 2011, Fastest Since 2005

High crude oil prices helped to boost revenue in the country, according to official data.

First Gulf Bank Signs $900m International Loan

The UAE’s second largest lender secures loan, up from original $800 million after demand from banks.

Kuwait’s Global Sees Creditors Reject $1.7bn Restructuring Plan

Global Investment House looks at legal options as it undergoes its second debt restructuring in three years.

Qatar National Bank Close To SocGen Egypt Deal

Trading on shares is suspended as the French bank is close to selling its asset to QNB.

Dubai Is Not Worried: Sheikh Ahmed

The emirate sees no need to recapitalise the support fund that helps state-linked bodies, said Sheikh Ahmed, head of the Supreme Fiscal Committee.

Bahrain’s GIB Picks Banks For Dollar Bond

Gulf International Bank picked JP Morgan Chase, NBAD, Barclays, Standard Chartered and Societe Generale to arrange the deal.

MENA Traders’ Repayment Fears On Global Economy

A report by HSBC shows exporters in the region are worried buyers will fail to settle transactions in coming months.

Saudi Arabia Allows Rights Trade On Stock Market

The move comes as the Kingdom prepares to open its stock market to direct investment by foreign institutions.

IMF Warns GCC To Cut Spending, Diversify

GDP growth in the GCC region is expected to slow to 3.75 per cent in 2013 as oil production stalls, says IMF.

Dubai’s Shuaa Capital Q3 Loss Narrows

The investment bank which has been through three CEOs in the past year posts Q3 loss of $3.78 million.

UAE Frees Hundreds Of Emirati Debtors From Jail

The country has released 290 people convicted of bouncing cheques, reports official WAM news agency.

Saudi Arabia Says Not Aware Of Barclays Probe

US authorities are reportedly investigating whether Barclays made any improper payment to win a banking licence in Saudi.

Qatar’s QNB Issues $1bn Bond

Qatar National Bank said that the bond attracted strong investor interest and was several times oversubscribed.

Abu Dhabi Islamic Bank To Price Sukuk Thursday

The lender is set to raise $500 million from its offering after big investor interest for its debut deal.

Recovering Dubai Still Faces $48bn Debt – Standard Chartered

A report from the UK-based lender says the emirate’s overall debt burden remains a challenge.

UAE Investors Dash To Cash

UAE investors are holding onto their cash and assets amid the uncertain economic outlook, however India is a favourite for investment.

Qatar National Bank To Sell $500m In New Bond Issue

Price guidance for QNB’s new bond was released at 155 basis points over midswaps, with transaction expected Wednesday.

Investors Favour Fixed Income

With global markets in flux, fixed income is becoming the new favourite for regional investors.

Credit Suisse And Qatar Holding In Asset Management JV

Aventicum Capital Management will focus on investments in emerging and frontier markets in the Middle East and Turkey.

UAE Central Bank Appoints Abu Dhabi Banker As New Chairman

Khalifa Mohammed al-Kindi is the new chairman while Sultan Nasser al-Suweidi remains governor of the bank.

Dubai Investments Q3 Net Profit Up 227%

The company’s profit rose as it booked gains in the fair value of its investment properties.

Standard Chartered To Target Ultra-High Net Worth Clients

The lender has made new appointments to establish a family office for the super rich and begun an Islamic private banking service for rich Muslims.

Abu Dhabi Loses Its World’s Biggest SWF Crown

Norway’s Government Pension Fund Global has beaten the emirate to the top spot with assets worth $656.2 billion.

Saudi’s Almarai To Issue Private Sukuk

The dairy company raised SAR1 billion through the first tranche of a Sukuk in March this year.

Dubai Islamic Bank’s Q3 Profit Flat

DIB’s quarterly net profit remains flat despite a jump in provisions with impairments worth Dhs309 million.

UAE’s ADCB, Banco Santander In Tie-Up

The two banks signed a partnership agreement to cooperate in trade and project finance.

Top 10 Tips For Investors

Unless you diversify and explore all the options in the market, you will not get the returns you expect, say experts.