The net value of properties assessed by the Dubai Land department dropped 26 per cent year-on-year.
Gold rose above $1,660 an ounce on signs that the US Federal Reserve is likely to launch monetary stimulus soon.
Banks are slowly recovering from the 2008 fall out but the impact of a major government spending spree is yet to be fully realised.
Higher capitalisation and new profits in the UAE are threatened by the Eurozone and weak global growth.
Strong government regulation and hefty public spending have buoyed the Kingdom’s banking sector.
Massive public spending and impressive GDP growth saw a bumper year for Qatar’s banking sector.
Increased consumer lending and new banks will put the country on a solid footing this year.
Bahrain faces sluggish growth and a rise in non-performing loans due to the fallout from political unrest.
Higher GCC banking profitability was driven by improvement in margins, faster asset expansion and expanding fee income in 2011.
The top 50 banks’ consolidated assets grew by a higher 9.1 per cent in 2011 to $1.2 trillion, compared to 6.8 per cent in 2010 and four per cent in 2009.
The country made a formal loan request to the International Monetary Fund during a visit to Cairo by IMF chief Christine Lagarde.
CITIC, partly owned by China’s sovereign wealth fund, did not give financial details of the investment.
New ratio demand leaves the commodity giant at a loss as potential mining deal looks close to collapse.
The Indian carrier will also resume services to Kuwait and Bahrain from Kochi in its winter schedule.
The Abu Dhabi-based carrier bought over $10 million worth of Virgin shares to raise its stake from 5.1 per cent last month.
Investors are optimistic that the European Central Bank will take action to ease Spanish and Italian borrowing costs.
Despite fears of a China slowdown, long term urbanisation will spell growth, says Chris Tedder, research analyst at FOREX.com
Fears of a Euro lending shortage appear overblown as local banks grow their loan books.
New consumer confidence survey reveals there are few jobs currently available in the country.
The Qatari-owned investment company increases its luxury goods portfolio with British fashion brand.
The biggest hikes were recorded in the prices of fish, vegetables and meat, according to official statistics.
With a market capitalisation of around $623 billion, the tech giant is now the world’s most valuable public firm.
Brent crude prices are rising on supply concerns stemming from Middle East tensions and maintenance issues in the North Sea.
The false records cases could be easier to prove than money-laundering.
An expected stimulus from the US Federal Reserve, instability in the Middle East and a fall in North Sea output are all spurring oil prices.
With the GCC expected to spend $79 billion in the next 10 years on railways, metro and tram projects, this development is being heralded as a transport revolution.
Banks in the region are benefiting from high profit margins and government support, says new report.
Abdel Shoman, chairman of Jordan-based Arab Bank, reportedly resigned after a disagreement with key shareholders.
The UAE Central Bank has told lenders to reschedule citizens’ loans by more than 48 months.
RAK Airport sees influx of European and Russian tourists.