The telecoms operator reported a net profit excluding royalty of Dhs1.8 billion in 2011, a 47.8 per cent rise over the previous year.
The move makes the Abu Dhabi-based sovereign wealth fund one of the largest shareholders in Arabtec.
Total bank deposits in the UAE reached Dhs1,069.7 billion at the end of December 2011, according to the central bank.
The kingdom’s foreign trade revenue amounted to SR1300 billion in 2011 and is set to rise by 14 per cent this year.
Kuwait’s controversy-ridden stock market regulator, Capital Markets Authority (CMA), has appointed three new commissioners.
The value and volume of shares traded on the Dubai Financial Market increased in February.
Many people in the country are dissatisfied with their current financial position, according to a Bayt.com-YouGov survey.
Royal Bank of Scotland said it no longer requires equity research on Middle Eastern companies from Dubai’s Rasmala Investment Bank.
Abu Dhabi’s International Petroleum Investment Company is refinancing the $850 million, three-year loan it signed in February 2009.
Dubai’s Drydocks will present its restructuring plan for its $2.2 billion loan facility next week.
Gulf headhunters warn that widespread CV fraud from finance professionals is jeopardising the industry.
The Saudi company owned by Prince Alwaleed bin Talal plans to tap debt markets through sale of either conventional or Islamic bonds.
While the bank’s income from the country rose seven per cent last year, expenses also increased by six per cent.
Dubai-based Noor Islamic Bank clarified that it has ended all business relations with Iranian banks.
Noor Islamic Bank has reportedly been forced to cut off its banking business with Iran by the US Treasury.
The head of Bahrain’s sovereign wealth fund reportedly resigned because of differences with the board.
The Saudi Industrial Development Fund has reportedly approved 13 loans to start nine new projects in the kingdom.
The UAE-based private equity firm is holding talks to acquire Viking, an integrated oilfield service company.
Talal Al Zain is leaving Bahrain’s $9 billion sovereign wealth fund to set up an investment firm.
The Qatari conglomerate saw net profits for the year increase by 21 per cent year-on-year to reach $76.6 million.
Investors in the country have become more cautious this year and are adopting long-term strategies, says FPI.
ABC Islamic Bank announced a net profit of $8.1 million for 2011, based on lower provisioning.
The billionaire revealed that an unnamed individual had been selected to replace him as the CEO of Berkshire Hathaway.
The mall is part of a mixed-use development project located in Bellevue, Washington, that Investcorp invested in five years ago.
The Japanese bank has received approval to offer foreign investors access to Saudi Arabia’s bourse.
The Dubai Financial Market, the worst performing Gulf bourse last year, managed a small fourth quarter profit.
The UAE has reportedly expressed interest in buying the V-22 Osprey, a tilt-rotor aircraft from the US.
The ten-year Malaysian ringgit-denominated Islamic bond carried a 4.65 per cent profit rate.
The airline’s net profit for the fourth quarter of 2011 increased by seven per cent year-on-year to reach Dhs78.7 million.
The Bahraini banking group reported a 10 per cent increase in full year net profits for 2011.