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.

Bank Of America To Increase Gulf Lending

The investment bank expects activity to pick up in the MENA region in 2013.

Doha Bank Sells Shares To Increase Capital

The Qatari bank will hold a local rights issue as it plans to match the capital levels of its peers.

Morgan Stanley To Trim Dubai Staff Amid Global Cuts

The bank plans to slash 1,600 jobs globally to reduce costs.

New UAE Mortgage Rules Seen Positive For Banks

The UAE central bank reportedly plans to issue broad regulations for the housing mortgage industry this year.

Oil Revenue Puts Kuwait’s Budget Surplus At $52bn

Total revenue for April-November was 21.6 billion dinars while spending reached a mere 6.9 billion dinars.

UAE Central Bank Plans Broad Mortgage Rules By Mid-2013 – Sources

The new regulations are expected to include the mortgage caps introduced by the central bank late last year.

QNB Posts 11.1% Rise In 2012 Net Profit; Plans To Hire Thousands

Qatar National Bank, the Gulf state’s biggest lender, made a record net profit of QAR8.3 billion last year.

Kuwait Investment Authority Had $261bn Assets In 2012

Kuwait’s Future Generations Fund is a nest egg for when the economy suffers shocks.

Saudi’s Kingdom Holding Completes $80m Land Sale

The company made a profit of SAR185 million on the sale of the land located near Riyadh.

Dubai’s DFM Up 20% In 2012

The Dubai bourse was the GCC’s best performing stock market.