Egypt Invites IMF Officials To Resume Loan Talks

A $3.2 billion loan from the International Monetary Fund will help Egypt handle a balance of payments crisis.

UAE’s ADIB Q2 Profit Rises 2.3%, Warns On Year

Abu Dhabi Islamic Bank said Eurozone pressures and new regulations in the UAE will hit earnings for the rest of 2012.

Saudi Leads Rise in M&A Deals

Saudi Arabia led the region’s M&A activity in July with two mega deals, followed by Jordan and Oman.

Dubai Collects Dhs2bn Via Online Payments In H1 2012

The amount collected by the Dubai government’s online payment services in the first half of 2012 increased 21 per cent year-on-year.

Bahrain’s Investcorp Slumps On Euro Crisis

Bahrain-based investment company net income shrinks in face of Euro woes and asset depreciation.

Dubai’s DIFC Authority To Split Into Two Entities

Dubai International Centre will split into DIFCA and DIFC Property arms to boost its development.

Arab Bank Posts 10% Rise In H1 Net Profit

The Jordanian bank saw increased profits due to lower provisions and a rise in operational income.

Egypt’s EFG Hermes Confident Of QInvest Deal By October

The Egyptian Financial Supervisory Authority had rejected the decision, asking EFG to provide additional information.

GCC Shouldn’t Delay Single Currency– Qatar Official

The Gulf countries should learn from the Euro experience but create a monetary union soon, a Qatari central bank official has said.

Azerbaijani Bank Plans Qatar Presence

International Bank of Azerbaijan, the country’s largest lender, hopes to start operating in Qatar in the first quarter of 2013.

Deutsche Bank: “Sukuk Premium Disappeared”

The Islamic premium no longer exists says one banking professional, stimulating greater issuance and longer tenors.

DIFC Benefits From “Safe Haven” Status

The Dubai International Financial Centre (DIFC) economy posted a ‘GDP’ of $3.13 billion in 2011, up seven per cent from 2010.

Abraaj Capital Exits IHH Healthcare Amid IPO

The region’s biggest investment firm leaves as the healthcare provider launches third biggest offering of the year.

Dubai’s DEWA Says No Plans For Bond

The utility company is not planning to issue a bond despite a drop in borrowing costs, its CEO has said.

Top UAE Lenders Beat Q2 Estimates

Three of the country’s largest banks have all posted positive results with First Gulf Bank reporting a 14 per cent profit rise.

ADCB Q2 Profit Beats Estimates

Abu Dhabi Commercial Bank posted a net profit of Dhs733 million for the second quarter of the year.

PineBridge Opens New MENA HQ In Bahrain

The new office of the global asset management company will be headed by ex-Mumtalakat CEO, Talal Al Zain.

Abraaj Names New CEO For Aureos

The private equity firm announced that Tom Speechley, senior partner at Abraaj, will take over as the CEO of UK-based Aureos.

National Bank of Abu Dhabi Posts 2% Q2 Profit Rise

NBAD, the largest bank by market value in the UAE, saw second quarter profit grow on higher net interest income.

First Gulf Bank Q2 Net Profit Up 14%

The UAE-based bank made a net profit of Dhs1.02 billion during the period, beating analysts’ forecasts.

Regional SWFs Look Inward

As GCC SWFs begin to invest closer to home, the West may find itself with an increasingly empty begging bowl.

Safco Plans 33.3% Bonus Share Issue

Saudi Arabian Fertilizers Co (Safco) has also proposed a SAR6 dividend for the first half of 2012.

UAE Has No Plans To Issue Bonds

Finance Minister Sheikh Hamdan says the country will fill any gap “from its own resources.”

RAKBank Posts 13.5% H1 Profit Gain

The UAE-based lender reported a net profit of Dhs668.7 million for the first half of the year.

ENBD Q2 Profit Drops 13%

Dubai-based Emirates NBD made a net profit of Dhs647 million in the second quarter of the year.

Saudi Regulator Suspends MMG Shares

Mohammad Al Mojil Group failed to announce its second quarter results, forcing the CMA to suspend trading.

NIG Requests $475m Sukuk Extension

The Kuwaiti investment firm has asked for a four year extension on the Islamic bond which is to mature next month.

Mashreq Posts 12% Rise In Q2 Profit

The Dubai-based bank made a second-quarter net profit of around Dhs320 million, mainly due to a drop in provisions.

Prince Alwaleed's Kingdom Holding has minority stakes in some of the world's top companies.

Kingdom Holding Q2 Profit Up 9.4%

Savola Group also posts a rise for the second quarter making $90.9 million profit, up 48 per cent.

Kuwait’s NBK Posts 42% Q2 Profit Drop

The Kuwaiti bank’s CEO blamed the political deadlock in the country for hampering economic growth.