The bank plans to distribute 55 per cent of its 2011 net profit to the ministry of finance, reported WAM.
The Abu Dhabi-based investment company attributed the loss to negative fluctuations in its financial investments.
Qatar Investment Authority said it is looking to invest $10 billion in India, but is waiting for policies to change in the country.
Oman plans to issue sovereign bonds worth OR200 million this year, but is waiting for the right time, according to officials.
Al Rajhi Bank, SABB, Saudi Hollandi Bank and Banque Saudi Fransi recorded a rise in net profit during the first quarter of the year.
The new system will help in the trading of financial instruments such as derivatives and Sukuks.
Qatar National Bank recorded a net profit of $549 million during the first quarter of the year.
The airport retailer has chosen Dubai Islamic Bank, HSBC and Emirates NBD to arrange its $1.1 billion loan facility.
Qatar Investment Authority (QIA) currently holds a five per cent stake in global mining and metals company Xstrata.
UAE banks will have to stop ‘yesteryear’ practices if they are to survive future competition.
Abu Dhabi National Energy Company (TAQA) booked a profit of $113 million on the sale.
Top finance guru Henry Azzam leaves MENA chairman role, citing no reasons.
Dubai International Capital, the private equity arm of Dubai Holding, has reached a final agreement with creditors for restructuring its debt.
Only one creditor has not yet accepted the $2.2 billion debt restructuring plan proposed by the Dubai-based shipbuilding unit.
Saudi Arabia’s Islamic Development Bank and Dallah Albaraka Group have signed an agreement with Qatar to set up the new bank.
The opening up of the Kingdom’s stock market to foreigners will be gradual, Saudi Arabia’s capital market regulator has said.
According to a new survey, 63 per cent of employees in the UAE expect a wage hike in the next 12 months.
While regional banks are reporting good growth rates, customer service has to improve, warns a new study.
The move is expected to force all the creditors of the Dubai-based shipbuilding unit to agree to its $2.2 billion debt-restructuring plan.
RED, Abraaj’s small and mid-cap investment platform, has invested $20 million in the region so far this year.
Update: The Kuwaiti developer’s shares have now resumed trading on Dubai Financial Market.
The companies, which failed to report earnings on time, join 12 other firms suspended earlier this year.
Saudi Electricity Company will use the amount, loaned by a group of international banks, to build a power plant in Rabigh.
The acquisition includes the retail, commercial and corporate banking businesses of Lloyds in the country.
The bank said that it repaid the five-year Sukuk from its own resources.
As private investors from the GCC divest large portions of their wealth offshore, Aarti Nagraj investigates where the money is headed.
Dubai’s ship building unit will ask its syndicated lenders to sign a lock-up agreement.
Dubai’s Jebel Ali Free Zone is planning to launch a syndicated loan to partly refinance its $2 billion Sukuk maturing in November.
As officials in Dubai complete the study for an expatriate pension scheme, experts say that the move will protect workers and improve the economy.
Talal Al Zain, who recently resigned from Bahrain’s sovereign wealth fund, has been appointed as the CEO of PineBridge’s MENA operations.