The merger between Alawwal bank and Saudi British Bank has been completed
The kingdom is considering issuing its first euro-denominated bonds this year
Former CEO Khaled Sifri resigned from his role in May
Penalties have also been introduced to ensure adherence to basic conditions of employment, visa and residency sponsorship
The firm is looking at potentially issuing US dollar-denominated sukuk
Abu Dhabi Investment Authority bought a 25 per cent stake in 330 Madison Avenue from Vornado Realty Trust
The new law is hoped to facilitate a more “efficient and effective” bankruptcy restructuring regime
The Saudi index has gained over 13 per cent year-to-date, outperforming other major Gulf peers
The senior management shake up comes as Waha is coping with changes and challenging market conditions
The deal is expected to create “one of the largest Islamic banks in the world” with combined assets of nearly Dhs275bn
The loan has tranches with three- and five-year maturities and a $200m greenshoe option
Michael Raynes was appointed to lead the company in late March 2018
The deal marks Investcorp’s largest US real estate portfolio acquired in the past decade
The sultanate expects the selective tax to generate around OMR100m a year
The efficacy of the June 25-26 meeting in Bahrain has been in doubt
Mumtalakat’s revenue totalled $5.5bn in 2018, up 38 per cent over the previous year
Naqvi was released after paying the 15m pound conditional bail – the largest ever ordered by a court in the UK
The bank said there are no discussions concerning “mergers, acquisitions or activities of a similar nature”
The private equity firm bought a 70 per cent stake in health aesthetics firm Medica
Saudi’s stock market fell 8.6 per cent from the beginning of May until Thursday’s close
Sukuk listings in Dubai now total $61.5bn, the largest amount of any listing centre in the world
Penalties have been set for nine types of violations, with fines reaching up to Dhs50,000
Dubai’s index is down 7.4 per cent this month, though still up 1.3 per cent year-to-date
The bankruptcy filing was seen as a key test of Saudi Arabia’s new law for handling insolvency disputes
UAE investors were found to be extremely bullish on equities, according to the survey by UBS
Arabian Centres’ share sale was the kingdom’s third biggest since Saudi lender NCB raised $6bn in 2014
The two Islamic facilities will be used to finance the Aljada and Nasma Residences projects
The index has risen only 0.3 per cent this year, while it has lost 7.7 per cent since the beginning of May
The violations related to the percentage of debt that individuals had to bear in proportion to their monthly income
The kingdom will levy a 100 per cent tax on electronic cigarettes and products used in them, and a 50 per cent tax on sugared drinks