UAE Central Bank Appoints Abu Dhabi Banker As New Chairman

Khalifa Mohammed al-Kindi is the new chairman while Sultan Nasser al-Suweidi remains governor of the bank.

Dubai Investments Q3 Net Profit Up 227%

The company’s profit rose as it booked gains in the fair value of its investment properties.

Standard Chartered To Target Ultra-High Net Worth Clients

The lender has made new appointments to establish a family office for the super rich and begun an Islamic private banking service for rich Muslims.

Abu Dhabi Loses Its World’s Biggest SWF Crown

Norway’s Government Pension Fund Global has beaten the emirate to the top spot with assets worth $656.2 billion.

Saudi’s Almarai To Issue Private Sukuk

The dairy company raised SAR1 billion through the first tranche of a Sukuk in March this year.

Dubai Islamic Bank’s Q3 Profit Flat

DIB’s quarterly net profit remains flat despite a jump in provisions with impairments worth Dhs309 million.

UAE’s ADCB, Banco Santander In Tie-Up

The two banks signed a partnership agreement to cooperate in trade and project finance.

Top 10 Tips For Investors

Unless you diversify and explore all the options in the market, you will not get the returns you expect, say experts.

Dubai’s DFM Says Q3 Loss Narrows to Dhs1.7m

Dubai Financial Market said revenue increased 16 per cent during the quarter to Dhs36.8 million.

Overbanked Qatar Bulks Up For Infrastructure Boom

Local banks will have home-advantage when financing infrastructure projects but smaller assets than international lenders.

ADCB’s Q3 Profit dips 3%, Misses Forecast

Abu Dhabi Commercial Bank posted a net profit of Dhs595 million, as non-interest income declined.

National Bank of Abu Dhabi Cuts 2012 Loan Growth

NBAD now expects lending to grow between four to eight per cent this year, down from its earlier forecast of 10 per cent.

Barclays Hit By Fresh US Investigations

The US Federal Energy Regulatory Commission may seek a $435 million civil penalty and roughly $35 million in disgorgement from the lender.

Hong Kong Named World’s Top Financial Centre

GCC cities fail to feature in World Economic Forum’s report as top six places remain unchanged.

National Bank of Abu Dhabi Eyes South Korea

NBAD, which opened an office in Shanghai earlier this year, plans to expand its presence in Asia.

UAE Approves 2013 Federal Budget, No Deficit

As per the budget, total spending for the year will be Dhs44.6 billion.

Abu Dhabi Islamic Bank Eyes Sukuk Sale

The lender has mandated HSBC, Morgan Stanley, National Bank of Abu Dhabi and Standard Chartered to arrange the roadshows.

Bank Of Sharjah Profits Up 1%

The lender grew its total number of assets by five per cent while its shareholders’ equity dropped by two per cent.

Doha Bank Eyes London Share Sale To Boost Capital

The Qatari lender hopes to increase capital by up to $1.6 billion in 2013.

GCC States Should Cut State Spending Growth -IMF

Their combined budget surplus could turn into a deficit by 2017, the International Monetary Fund has warned.

Top Technology Tips For Banks

Lenders need to put customers at the centre of what they do, writes Steve Bertamini, CEO of Consumer Banking at Standard Chartered.

HSBC Bank Oman 9-Month Profit Drops 4.2% On Provisions

The lender made a net profit of OMR10.57 million in the first nine months of the year.

Dubai’s Tamweel Q3 Profit Falls 46.5%

The mortgage lender saw profits drop on higher provisions and funding costs.

Alwaleed Says Citigroup Has Great Potential

The Saudi billionaire says ex-Citi CEO Vikram Pandit did a “pretty good job.”

Emirates NBD Sees 267% Increase In Q3 Net Profit

The Dubai-based lender saw third quarter net profit rising to Dhs640 million on lower provisioning.

Bank Dhofar Q3 Net Profit Down

The Omani lender has missed market expectations as it posts a third-quarter profit drop compared to last year.

Abu Dhabi Islamic Bank Posts 3% Rise In Q3 Profit

The lender made a profit of Dhs328.5 million during the third quarter of the year.

Dubai Bourse Targets Oil Buyers, Region’s Banks

The Dubai Mercantile Exchange plans to shift its focus away from national oil companies, said its new CEO.

Al Rajhi Bank’s Profit Falls On Higher Costs

The Saudi lender said that third-quarter net profit dropped 3.5 per cent from last year to SAR1.87 billion.

UAE Consumers Fail To Save

Overspending and a lack of financial planning spell an insecure future for UAE residents.