The UAE government will settle the personal loans of citizens whose debts are less than Dhs5 million.
According to the IMF, UAE’s state-related entities have a “significant” amount of debt maturing in the next few years.
The Kingdom’s Tadawul index has dropped on global economic fears and political instability in the Eurozone.
If Greece leaves the Euro next month the impact will be indirect but significant for the Gulf, say experts.
Islamic Development Bank plans to issue the Islamic bond in June this year, its chairman has said.
The bank said that it expects loans to the UAE’s SME sector increasing by 20 per cent this year.
The final draft of the UAE’s new bankruptcy law will be ready by the end of this year, the Justice Minister has said.
Abu Dhabi shelled out close to $1 billion on Manchester City’s Barclays Premier League title, writes Neil Churchill
A joint venture between US-based Paladin Capital Group and Invest AD plans to launch a $100 million MENA fund.
The IMF questions Kuwait’s fiscal stimulus and warns of the sustainability of public finances.
Abu Dhabi Islamic Bank reported that revenues rose 7.3 per cent to reach Dhs874.8 million during the period.
The Dubai investment conglomerate recorded a revenue drop of three per cent during the period.
Qatar has reportedly mandated five banks to help arrange a new sovereign Islamic bond.
The Bahraini lender’s net profit rose seven per cent during the first quarter of the year to reach $57.4 million.
The Abu Dhabi investment fund said that a majority of its expenditure will relate to its semiconductor unit ATIC.
The Saudi billionaire is looking for returns of 20 to 25 per cent from the investments, he told a German paper.
Dubai Financial Market (DFM) recorded revenues of Dhs69.1 million during the first quarter of the year.
Dubai-based Shuaa Capital reduced losses by 67 per cent year-on-year in the first quarter of the year.
The capital raised in Q1 2012 was almost four times higher than Q1 2011, but 63 per cent lower than Q4 2011.
Gulf Business rounds up the region’s top performing banks last year based on their assets values.
Ian Johnston will take over from Paul Koster, who completes his term at the financial services regulator.
Dubai will use the proceeds from its $1.25 billion Sukuk to expand its airport, according to Sheikh Ahmed al Maktoum.
The bank reported a net profit of Dhs245 million for the first quarter of the year.
Istithmar World confirmed it has acquired a 50 per cent stake in the landmark Dubai hotel for $250 million.
Gary Dugan will be joining Royal Bank of Scotland unit Coutts in Singapore, according to sources.
In a rare interview, the Infosys chairman discusses why India’s economy will triumph adversity.
The country’s current account surplus increased mainly because of a rise in exports.
The two-part Islamic bond reportedly received strong demand in the market.
The value of M&As in the region fell to $8.5 billion during the first quarter of 2012, according to Ernst &Young.
Emirates NBD’s Q1 net profit fell 55 per cent compared to last year but profit has tripled since Q4 2011.