IPIC Signs $850mn Loan

Abu Dhabi’s International Petroleum Investment Company is refinancing the $850 million, three-year loan it signed in February 2009.

Drydocks To Offer $2.2bn Debt Plan

Dubai’s Drydocks will present its restructuring plan for its $2.2 billion loan facility next week.

Stretching The Truth

Gulf headhunters warn that widespread CV fraud from finance professionals is jeopardising the industry.

Kingdom Holding Plans Bond Sale

The Saudi company owned by Prince Alwaleed bin Talal plans to tap debt markets through sale of either conventional or Islamic bonds.

Standard Chartered Sees UAE Growth

While the bank’s income from the country rose seven per cent last year, expenses also increased by six per cent.

Noor Islamic Has Ended Ties With Iran

Dubai-based Noor Islamic Bank clarified that it has ended all business relations with Iranian banks.

US Targets Dubai Bank Over Iran

Noor Islamic Bank has reportedly been forced to cut off its banking business with Iran by the US Treasury.

Mumtalakat Head Quit Over Differences

The head of Bahrain’s sovereign wealth fund reportedly resigned because of differences with the board.

$293mn Boost For Saudi SME’s

The Saudi Industrial Development Fund has reportedly approved 13 loans to start nine new projects in the kingdom.

Abraaj Consortium Eyes Viking

The UAE-based private equity firm is holding talks to acquire Viking, an integrated oilfield service company.

Mumtalakat Head Resigns

Talal Al Zain is leaving Bahrain’s $9 billion sovereign wealth fund to set up an investment firm.

Mannai’s 2011 Profits Soar

The Qatari conglomerate saw net profits for the year increase by 21 per cent year-on-year to reach $76.6 million.

UAE Investor Confidence Drops

Investors in the country have become more cautious this year and are adopting long-term strategies, says FPI.

ABC Islamic Bank Nets $8.1mn Profit

ABC Islamic Bank announced a net profit of $8.1 million for 2011, based on lower provisioning.

Buffett Chooses Successor

The billionaire revealed that an unnamed individual had been selected to replace him as the CEO of Berkshire Hathaway.

Investcorp Close To Selling US Mall

The mall is part of a mixed-use development project located in Bellevue, Washington, that Investcorp invested in five years ago.

Nomura To Offer Tadawul Access

The Japanese bank has received approval to offer foreign investors access to Saudi Arabia’s bourse.

DFM Index Books 2011 Losses Of 17%

The Dubai Financial Market, the worst performing Gulf bourse last year, managed a small fourth quarter profit.

US Eyes UAE For Military Aircraft Sale

The UAE has reportedly expressed interest in buying the V-22 Osprey, a tilt-rotor aircraft from the US.

Taqa Raises $215mn From Sukuk Sale

The ten-year Malaysian ringgit-denominated Islamic bond carried a 4.65 per cent profit rate.

Air Arabia 2011 Net Profit Falls 13%

The airline’s net profit for the fourth quarter of 2011 increased by seven per cent year-on-year to reach Dhs78.7 million.

Al Baraka Net Profits Rise

The Bahraini banking group reported a 10 per cent increase in full year net profits for 2011.

Syria’s Banks Facing Turmoil

Unrest in Syria is causing chaos at the country’s banks, which posted bumper profits last year.

Getting The Right Private Banker

Recruiting private bankers in the Gulf is no easy matter. The region has some of the highest staff turnover rates in the world.

Dubai Raises $675mn For Tram Project

The proceeds from the dual-currency loan will be used to fund the first phase of the Al-Sufouh project.

Al Jaber CEO To Be Replaced: Sources

Abu Dhabi-based Al Jaber Group may hire a new CEO as part of a $1 billion restructuring plan, according to sources.

$100mn Boost For Saudi’s Al Raya

Levant Capital and Citi Venture Capital International have acquired a major stake in the Al Raya supermarket chain.

Oman Owes Gulf Air $310mn

The Bahraini carrier said that the sum has been outstanding from the time Oman pulled out of Gulf Air in 2007.

DP World Eyeing $1bn Loan: Sources

The company is reportedly in talks with banks for a loan to repay its $3 billion deal that matures in October.

Abraaj Eyeing Turkey’s Calik

Dubai-based Abraaj Capital is planning to bid for Calik Holding’s media assets, according to sources.