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.
With a combined GDP of over $9 trillion, China and India were poised to offset slower growth in the West, but recent developments have proved otherwise.
The Indian carrier will also resume services to Kuwait and Bahrain from Kochi in its winter schedule.
With a market capitalisation of around $623 billion, the tech giant is now the world’s most valuable public firm.
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.
Hikma Pharmaceuticals delivers a strong first half performance in 2012.
Regional dairy producer is approaching the international market and commencing production of camel milk products.
The UAE, Saudi Arabia and Qatar have all told their residents to leave the country amid threats of kidnappings.
The Egyptian investment bank posted a net profit of $4.4 million as revenues from its brokerage operations declined.
A Malaysia-based association of Islamic scholars is planning to develop a global code of ethics to improve standards in the industry.
Standard Chartered may have settled its Iran regulatory dispute for $340 million but investors remain wary.
Brent oil futures ended at a fresh three-month high on Tuesday as strong US retail sales, tighter North Sea crude supplies and speculation about economic stimulus outweighed weak euro zone data
Gulf Business brings you a list of the tallest towers from across the world.
The Dubai-based airline will begin operating flights to Tripoli from October 29.
The Aden refinery resumed production after halting operations for nine months because of attacks on the country’s main oil pipeline.
Gold edged up on Monday, extending its winning streak into a seventh session as expectations rose of more stimulus measures from central banks around the world.
Two of Cairo’s most highly-ranked generals have been told to step down from their positions, on orders of the president.
Sales and marketing managers take home the region’s highest pay packets
A quick catch up with the regional boss of the Germany’s national carrier.
The Gulf state is aiming to provide a much needed boost to support Egypt’s declining economy.
Next generation iPhones and iPads will no longer have Google’s YouTube app pre-installed in the software.
New York’s top bank regulator has threatened to revoke the bank’s state licence over alleged Iran ties.
The Kingdom’s cabinet has given a licence to the Industrial and Commercial Bank of China (ICBC) to open one branch in Saudi.
New York’s top bank regulator has accused the UK-based bank of hiding $250 billion in transactions tied to Iran.
American Ambassador to the UAE Michael Corbin speaks to Ian Fairservice and Alicia Buller about his hopes for Middle East economic stability.
Carriers in the region saw passenger demand increase by over 18 per cent year-on-year in June, says IATA.
A $3.2 billion loan from the International Monetary Fund will help Egypt handle a balance of payments crisis.
Saudi Arabia led the region’s M&A activity in July with two mega deals, followed by Jordan and Oman.