Dubai’s largest bank is targeting international revenues of around 20 per cent of its total by 2017.
USD likely to strengthen, while GBP and JPY could face pressure, reports Emirates NBD.
The new fund has a seed capital of $25 million and will invest mainly in dollar-denominated debt.
The global investment bank can exercise warrants after two years. The lender secured a loan facility for D&S last week.
The firm’s shares have not traded since last December when it accumulated huge losses.
Lender in new investigation into improper payments to win a banking licence in the Kingdom.
Al Madina Real Estate says it will issue a five year $130 million Islamic bond in Q1 next year.
The lender did not provide any reason for his resignation.
HSBC Middle East is taking over Lloyds’ retail, commercial and corporate banking business in the UAE.
Ex-PM of Australia pans Europe and says regional unemployment levels are ‘shocking’.
High crude oil prices helped to boost revenue in the country, according to official data.
The UAE’s second largest lender secures loan, up from original $800 million after demand from banks.
Global Investment House looks at legal options as it undergoes its second debt restructuring in three years.
Trading on shares is suspended as the French bank is close to selling its asset to QNB.
The emirate sees no need to recapitalise the support fund that helps state-linked bodies, said Sheikh Ahmed, head of the Supreme Fiscal Committee.
Gulf International Bank picked JP Morgan Chase, NBAD, Barclays, Standard Chartered and Societe Generale to arrange the deal.
A report by HSBC shows exporters in the region are worried buyers will fail to settle transactions in coming months.
The move comes as the Kingdom prepares to open its stock market to direct investment by foreign institutions.
GDP growth in the GCC region is expected to slow to 3.75 per cent in 2013 as oil production stalls, says IMF.
The investment bank which has been through three CEOs in the past year posts Q3 loss of $3.78 million.
The country has released 290 people convicted of bouncing cheques, reports official WAM news agency.
US authorities are reportedly investigating whether Barclays made any improper payment to win a banking licence in Saudi.
Qatar National Bank said that the bond attracted strong investor interest and was several times oversubscribed.
The lender is set to raise $500 million from its offering after big investor interest for its debut deal.
A report from the UK-based lender says the emirate’s overall debt burden remains a challenge.
UAE investors are holding onto their cash and assets amid the uncertain economic outlook, however India is a favourite for investment.
Price guidance for QNB’s new bond was released at 155 basis points over midswaps, with transaction expected Wednesday.
With global markets in flux, fixed income is becoming the new favourite for regional investors.
Aventicum Capital Management will focus on investments in emerging and frontier markets in the Middle East and Turkey.
Khalifa Mohammed al-Kindi is the new chairman while Sultan Nasser al-Suweidi remains governor of the bank.