Nomura’s EMEA CEO To Leave Bank

John Phizackerley had previously said he planned to beef up staffing at the lender’s Dubai office.

Qatar Picks Sarkozy To Lead Wealth Fund

France’s ex-President would take a non-executive role to help direct where to invest $650 million.

Qatar Says $1bn Islamic Bank To Be Set Up “Soon”

Qatar signed an MoU with Islamic Development Bank and the Dallah Albaraka Group last year to establish a new international Islamic bank.

Qatar Says No More Aid To Egypt For Now

Qatar has been a key source of foreign aid to Egypt since its 2011 revolution giving $5 billion.

Emirates Airline Eyes 10 Year Sukuk Issue This Week

The sukuk, maturing 2023, will have an amortising structure, with an average weighted life of five years.

Dubai’s Index In Biggest Gain In 3 Weeks

Investors are starting to buy back into the emirate’s stocks following a recent slump.

Abraaj Buys Stake In Palestinian Games Firm

UAE-based Abraaj Capital invests undisclosed sum in Anoud Games through its Palestine Growth Capital Fund.

Emirates NBD Eyes Bond Sale To Repay Govt Funds

The bank will use the proceeds to repay part of the Dhs12.6 billion it received from the government in 2008, say sources.

Bahrain’s NBB, Pension Fund To Buy 51.6% In Islamic Lender

Based on Bahrain Islamic’s total outstanding shares, the value of the deal is about BD34.9 million.

Lebanon’s Revised 2013 Budget Sees $3.48bn Deficit

The revised version cuts spending by more than $1 billion from an earlier draft budget.

Qatar To Sell 4bn Riyals Of Three And Five Year Bonds

The Gulf state’s central bank will offer local banks 3 billion riyals worth of bonds and 1 billion riyals worth of Shariah-compliant notes.

Bank Muscat Picks Banks For Potential Bond

The meetings will start in Riyadh before going to Singapore, Hong Kong, the United Arab Emirates, Switzerland and London.

Wealth Fund Mumtalakat Eyes $150m Bahrain Investment In 2013

The fund has allocated $45 million for real estate projects and $42 million for tourism and hospitality schemes

Dubai’s Emirates Airline Plans Second Bond Sale This Year

Emirates has hired six banks to arrange a potential dollar-denominated, benchmark sukuk sale.

Dow Hits Record High, Surges Over 126 Points

The gains came as investors poured money into blue-chip stocks on signs of an improving US economy.

Prince Alwaleed Severs Ties With Forbes Rich List

Prince Alwaleed has asked to be removed from the list and Kingdom Holding Company officials will no longer work with Forbes.

Dubai Sees Big IPO In 2014/15, Says Debts Under Control

Mohammed al-Shaibani, CEO of the Investment Corporation of Dubai said that Dubai had a plan to deal with debts maturing in coming years

Dubai Islamic Bank To Boost Capital Through Sukuk Sale

The dollar-denominated Islamic bond is expected to be benchmark-sized.

First Gulf Bank Repays $1.2bn Government Support

The UAE’s Ministry of Finance placed Dhs70 billion ($19.1 billion) with banks after the 2008 financial downturn.

Bahrain’s Investcorp Sells IPH To European PE Firm

Investcorp has been selling assets and making new investments as financial markets recover from the Arab Spring.

New Dubai Firm To Manage Islamic Endowments

Awqaf are believed to control tens of billions of dollars worth of assets around the Muslim world.

Saudi Central Bank Sees Inflation At Tolerable Levels

Inflation in the Kingdom reached a seven-month high of 4.2 per cent year-on-year in January.

Dubai’s Noor Sets Up JV With State-Owned AMAF

The new company, called Noor Awqaf, is being set up with a share capital of Dhs10 million.

Revealed: Top 10 UAE Bank Profits In 2012

Gulf Business brings you the top 10 banks in the UAE that made the largest profits last year.

Nomura To Hire In Dubai To Revamp Middle East Operations

The Japanese investment bank plans to increase business across investment banking advisory, debt and equity capital markets.

Dubai Utility DEWA Launches $1bn Sukuk

The utility printed the five-year paper at par at a profit rate of three per cent.

Dubai Group Unit Sells 41.1% ONIC Stake To Oman Fund

The asset sale is part of the Dubai Group’s $6 billion restructuring process, said officials.

UAE Central Bank Head – “Domestic Bond Market Essential”

Sultan Al Suwaidi said that a well developed local debt market would buffer the country from the next global economic crisis.

First Gulf Bank Eyes 10% Loan Growth This Year

The UAE lender made a net profit of Dhs1.15 billion in the fourth quarter of 2012.

Dubai Plans Central Islamic Finance Regulatory Board

The emirate is hoping to become a global hub for Islamic finance and other businesses based on Islamic principles.