A $3.2 billion loan from the International Monetary Fund will help Egypt handle a balance of payments crisis.
Abu Dhabi Islamic Bank said Eurozone pressures and new regulations in the UAE will hit earnings for the rest of 2012.
Saudi Arabia led the region’s M&A activity in July with two mega deals, followed by Jordan and Oman.
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-based investment company net income shrinks in face of Euro woes and asset depreciation.
Dubai International Centre will split into DIFCA and DIFC Property arms to boost its development.
The Jordanian bank saw increased profits due to lower provisions and a rise in operational income.
The Egyptian Financial Supervisory Authority had rejected the decision, asking EFG to provide additional information.
The Gulf countries should learn from the Euro experience but create a monetary union soon, a Qatari central bank official has said.
International Bank of Azerbaijan, the country’s largest lender, hopes to start operating in Qatar in the first quarter of 2013.
The Islamic premium no longer exists says one banking professional, stimulating greater issuance and longer tenors.
The Dubai International Financial Centre (DIFC) economy posted a ‘GDP’ of $3.13 billion in 2011, up seven per cent from 2010.
The region’s biggest investment firm leaves as the healthcare provider launches third biggest offering of the year.
The utility company is not planning to issue a bond despite a drop in borrowing costs, its CEO has said.
Three of the country’s largest banks have all posted positive results with First Gulf Bank reporting a 14 per cent profit rise.
Abu Dhabi Commercial Bank posted a net profit of Dhs733 million for the second quarter of the year.
The new office of the global asset management company will be headed by ex-Mumtalakat CEO, Talal Al Zain.
The private equity firm announced that Tom Speechley, senior partner at Abraaj, will take over as the CEO of UK-based Aureos.
NBAD, the largest bank by market value in the UAE, saw second quarter profit grow on higher net interest income.
The UAE-based bank made a net profit of Dhs1.02 billion during the period, beating analysts’ forecasts.
As GCC SWFs begin to invest closer to home, the West may find itself with an increasingly empty begging bowl.
Saudi Arabian Fertilizers Co (Safco) has also proposed a SAR6 dividend for the first half of 2012.
Finance Minister Sheikh Hamdan says the country will fill any gap “from its own resources.”
The UAE-based lender reported a net profit of Dhs668.7 million for the first half of the year.
Dubai-based Emirates NBD made a net profit of Dhs647 million in the second quarter of the year.
Mohammad Al Mojil Group failed to announce its second quarter results, forcing the CMA to suspend trading.
The Kuwaiti investment firm has asked for a four year extension on the Islamic bond which is to mature next month.
The Dubai-based bank made a second-quarter net profit of around Dhs320 million, mainly due to a drop in provisions.
Savola Group also posts a rise for the second quarter making $90.9 million profit, up 48 per cent.
The Kuwaiti bank’s CEO blamed the political deadlock in the country for hampering economic growth.