Qatar National Bank has been granted a license to open a branch inside the kingdom
Swiss authorities are involved because transactions related to the probe involved Swiss financial institutions, a source said
The UAE and Saudi Arabia have fared better than their GCC counterparts because of economic diversification, says report
The three-year facility is structured as a bullet loan which means the principal will be repaid at the end of the term
Employees in the kingdom are expected to record a 5 per cent salary hike in 2016, the report by Hay Group found.
The bank said last month that its board had proposed the Basel III compliant bond, subject to shareholder and regulatory approval
KPMG Saudi Arabia’s managing partner Tareq al-Sadhan is leaving the company at the end of December
A drop in oil prices, which hit a six-and-a-half-year low last month, has pushed some Gulf state budgets into deficit for the first time in years
The Saudi economy is forecast to keep expanding strongly this year, showing little impact from the oil price drop, according to the IMF
Licences for new banks will be given according to criteria set out by the central bank, a statement said
Qatari officials have announced plans to spend around $200bn on infrastructure projects over the next decade or so
The joint venture, called ICON Arabia, is planning to bring 15 new food and beverage brands to the region
The agreement is aimed at generating new business opportunities in the GCC and India
Automotive and retail sectors saw the highest growth in salaries so far this year, a new survey showed
The increase in foreign ownership from the present level of up to 75 per cent for retail businesses comes after tumbling oil prices have slashed government revenues
The UAE’s economic diversification, smart city vision and political stability have all helped fuel the job market, says analyst
Ibrahim Alassaf said the kingdom was well-prepared to cope with the plunge of crude prices
Public spending in the Gulf state is expected to remain strong thanks to big buffers
The decision meant GFH could focus trading on its home and the main secondary market for its shares, Dubai
During the global credit crisis of 2009-10, UAE banks were hobbled by their links to heavily indebted companies that were wholly or partly owned by governments of the seven emirates in the UAE
The Atlas default affects at least 15 banks, but sources say that reaching a deal would be tricky unless creditors can meet its founder, who remains in police custody
Dubai’s financial freezone is looking to Indian and other Asian markets to fuel its growth over the next 10 years
S&P said historical data suggested there was a clear link between non-performing loans and oil prices
The deal is the latest divestment by the Dubai government-owned group to repay its debts
The syndicate for the dual Islamic and conventional facility is backed by a mixture of local and Chinese banks
Gross domestic product, adjusted for inflation, expanded 3.8 per cent from a year earlier in the second quarter, accelerating from a revised 2.3 per cent in the first quarter
The country is looking to impose indirect taxes such as road tolls and paid parking metres to compensate for low oil revenues
Saudi’s market suffered the most from panic selling in the Gulf and is still down 12.8 per cent month-to-date
The Bahrain-based investment fund posted a 13 per cent increase in net income for the 12 months to June 30