The Gulf state is reportedly setting up two companies through an official decree to issue the Islamic bonds.
UAE exchanges say there is still no clarity regarding the Indian government’s proposed service tax on remittances.
Four IPOs, valued at over $1.1 billion were issued in the GCC during the second quarter of 2012.
Shareholders of Capital Management House, Capivest and Elaf Bank approve the three-way merger.
Restaurants and shops consider rejecting premium credit cards as Network International hikes fees.
A firm linked to billionaire Robert Kuok is set to take a stake in Drydock’s Southeast Asia operations, say sources.
Majid Al-Refai will serve four years in jail for a number of crimes during his tenure as CEO of Bank Alkhair.
The Arab state will need to attract conventional rather than Islamic investors due to the lack of sukuk.
Abu Dhabi’s sovereign wealth fund expects emerging market stocks to outperform in the long-term.
The Omani bank plans to use the proceeds from the sale to fund credit expansion and its foray into Islamic finance.
Majid Al Futtaim has begun choosing banks to arrange investor meetings ahead of a second bond issue.
The investment company, which plans to launch an IPO, raised Dhs100 million from the sale.
The free zone has repaid the Islamic loan five months early and consequently received a rating upgrade from Fitch.
The UAE and Qatar have not been upgraded to emerging markets status by index compiler MSCI.
Although the stock market is down 14 per cent from this year’s high, investors are positive on earnings.
Regional banks are on the prowl to snap up Middle Eastern arms of European banks looking to sell.
The Suisse bank returns to court today in lawsuit over alleged failure of payment in $10.7 billion Zain deal.
The country has adequate financial resources to bridge its budget gap, a senior minister has said.
The amount will be partly used to construct a fuel pipeline from Jebel Ali to the Dubai Airport.
The rating agency has cut the bank’s Middle Eastern arm’s rating from BBB+ to BBB, due to flat NPL ratio.
The Gulf state is starting investor meetings this week for a planned dollar-denominated bond issue.
The Islamic mortgage lender picks ADCB, Emirates NBD and UBS for meetings on asset-backed Sukuk.
DIFC Investments raised money through a syndicated facility to help repay the Islamic bond.
It’s unclear whether a recent surge in Islamic finance activity will lead to much-needed change.
Kuwait Investment Authority is reportedly planning to invest in Malaysia’s IHH Healthcare’s $2 billion IPO.
The seven-year Islamic bond was launched at a profit rate of seven per cent, arranging banks said.
Capivest, Elaf Bank and Capital Management House are in talks to form one new bank with larger assets.
The market regulator has implemented new rules on stock ownership in a bid for greater transparency.
Arqaam Capital says that the regional corporate bond market will also grow substantially by 2014.
The central bank has said it may allow banks to ignore lending limits when dealing with state-linked entities.