Dubai’s biggest bank will offer 1.5 billion shares at Dhs1 each between January 25 and February 3.
The emirate plans to form a committee to work on six major initiatives under the project.
The Gulf state aims to merge eight state-run pension funds to improve efficiency.
Sheikh Hamad bin Jassim al-Thani has said $0.5 billion will be a grant while $2 billion a deposit.
The bank’s new organisational chart shows 13 managers under Corbat.
Capivest, Elaf Bank and Capital Management House have merged after more than a year of negotiations.
The proceeds will be used to settle trade creditor claims against the Dubai developer.
The investment firm is currently in the midst of a Chapter 11 bankruptcy process.
A UAE central bank circular issued last week said mortgage loans for foreigners should not exceed 50 per cent of the property value.
Egypt is holing negotiations with the International Monetary Fund to get a $4.8 billion loan.
Alba received a five-year $85 million loan from Bahrain’s Gulf International Bank and a three-year loan from a group of banks.
The Dubai-based lender already owns a 58.2 per cent stake in Tamweel.
Kuwait’s gridlocked political situation is stymying its banking sector.
Oman’s economy and its banking sector are performing well.
Africa’s vast lands, fast economic growth and a sense of political stability are all attracting regional investors.
Oman’s stock index rose 1.2 per cent last year and outperformed Qatar and Bahrain.
Officials clarify that the UAE rule of decriminalising bounced cheques only applies to UAE nationals.
International banks are shrinking their regional businesses as deal activity dries up.
High oil and gas prices and a large-scale infrastructure programme buttressed Qatar’s banking sector in 2012.
The government spent $780 million to create 36,000 jobs for Omanis last year.
The Senate-backed deal was passed late on Tuesday in the House of Representatives.
Spending on education, health, housing and social welfare has been boosted by 22 per cent in this year’s budget.
The UAE is well capitalised but banking asset quality remains a concern.
UAE courts have stopped sentencing debt defaulters to prison since last month, say reports.
The agreement is now pending a vote in the House of Representatives.
Government expenditure is up six per cent from 2012, while revenues are forecast to rise 7.8 per cent in 2013.
Saudi’s behemoth banks were flush with capital in 2012.
The Kingdom’s aviation authority launched its first sukuk in 2012 and raised SAR15 billion to fund the Jeddah airport development.
2013 revenue projected at a conservative SAR829 bn, according to Emirates NBD, as spending on education and healthcare to increase.
UAE-based bank to add 10 new branches in 2013; move headquarters to Sharjah, says CEO.