Waha Capital Reports 38.1% Rise In Profit

The Abu Dhabi-company put the increase down to its shares in aviation investee company Aercap.

Dubai’s Shuaa Launches Saudi Lease Financing Company

Jeddah-based Gulf Installments will focus on offering Sharia compliant services to SMEs in Saudi Arabia.

Oman Rules May Spur Reform Of Islamic Finance Scholars

Oman is the last country in the six-nation Gulf Cooperation Council to introduce Islamic banking.

Abu Dhabi Stock Market Makes Biggest Monthly Gain In 5 Years

The market rose 9.5 per cent in January, mainly driven by a rise in bank shares.

Emirates NBD Sees Q4 Net Profit More Than Triple To $170m

The lender’s profits rose on lower impairments and increased non interest income.

UAE’s NBAD Eyes Overseas For Growth

Earnings from international clients rose four per cent in 2012.

Saudi’s Kingdom Holding In Islamic Financing Push

The firm, owned by Saudi billionaire Prince Alwaleed Bin Talal, has formed a sharia board to raise more of its funds through Islamic finance.

Tamweel Repays $300m Five-Year Sukuk

Tamweel has been the focus of a full takeover offer by its majority shareholder Dubai Islamic Bank.

Abu Dhabi Commercial Bank Q4 Profit Jumps 32%, Beats Estimates

ADCB’s fourth quarter profit rose on higher net-interest income and lower provisions.

UAE’s First Gulf Bank Q4 Profit Up 12%, Beats Forecast

The lender’s profits were boosted by higher interest income and Islamic financing.

HSBC’s Oman Unit Sees 62.7% Drop In 2012 Profit

HSBC Bank Oman, formed by a merger of HSBC’s Oman unit and Oman International Bank, made a net profit of OMR5.8 million in 2012.

Bahrain’s Investcorp Reports Massive Rise In H1 Profit

The investment firm’s net profit rose to $39.2 million for the six months ended December 31, up from $5.2 million in the same period a year ago.

High-Profile Islamic Finance Firm Dar Al Istithmar Closes

Most of its staff moved to Khalij Islamic, another investment firm with offices in London and Dubai, says sources.

Saudi’s Maaden Eyes $7bn Finance

The money will fund the Umm Wual phosphate project at Waad Al-Shimal City.

Mubadala In $2bn Refinancing Launch

Banks taking part will also be chosen for future work.

Foreign “Smart Money” Lifts Dubai Stock Exchange To 34-Month High

The Dubai index is buoyed by foreign investors buying into the emirate’s economic recovery.

Abu Dhabi’s NBAD Sees 16.8% Rise In 2012 Profit

National Bank of Abu Dhabi attributed the profit increase to higher investment and interest income.

Bahrain’s Investcorp Eyeing Italy Luxury Brands

The private equity firm said earlier this month that it plans to announce a new deal in early February.

S&P Revises Bahrain’s Credit Outlook To Stable

Standard & Poor’s has ranked the state as BBB, as has Fitch while Moody’s ranks it Baa1.

Islamic Finance Grows Up

Islamic banks must confront the regulators to grow their products.

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.