The fund said in a statement it made a net profit of Dhs1.04 billion in 2014, down from Dhs1.45 billion in the previous year.
BKIC bought 6.7 million shares of Takaful International valued at $1.52 million from Kuwait’s Osoul Investment Co, a statement said.
The terminal, in Prince Rupert, British Columbia, has a capacity of 850,000 twenty-foot equivalent unit (TEU).
The law reduces the minimum “free float” of shares in company flotations on the UAE’s two main stock markets to 30 per cent from 55 per cent.
Brent crude oil futures reversed early losses to rally to $55.50 barrel.
The portfolio of loans was mostly to large United Arab Emirates-based companies.
The one-week wakala contracts will allow the banks to deposit excess funds with the central bank.
V. Shankar has resigned as CEO of Europe, Middle East, Africa and Americas after 13 years at the bank.
The lender has set price guidance for the bond, which will boost its Tier 1 — or core — capital, at 5.875 per cent on Wednesday.
Hamad al-Humaidhi has been appointed the new chairman of Ahli United Bank.
The bank currently holds 86.5 per cent of Tamweel.
The company lost Dhs3.63 billion in the fourth quarter of 2014.
Shareholders of Doha Bank, Qatar’s fifth-largest lender by assets, approved the purchase in December 2014.
The move by the Abu Dhabi state-owned investment fund casts doubt on whether this key part of the emirate’s infrastructure plans will go ahead.
A legal team has been assigned to build a framework by May this year for the eventual introduction of VAT in the region.
The bond will be issued through a special purpose vehicle, NBK Tier I Financing Ltd, and be guaranteed by NBK.
The fund provides working capital to small businesses focusing on agricultural commodities, energy and metals, a segment often neglected by Islamic lenders.
Foreign direct investment (FDI) to the UAE, which although grew 25 per cent in 2014, did not reach the estimated amount of $14.4 billion.
The company’s profit fell to Dhs100.7 million ($27.42 million) in 2014 from Dhs166.5 million a year earlier.
Prince Saud K. Al Faisal said that under a new programme, the government would propose investments linked to such state spending plans.
The cash will be used to finance a number of projects that Shandong is currently working on.
The loan will replace an existing $4 billion facility due to mature later this year.
Nobel Learning, which operates 176 schools across 18 states, was acquired from Leeds Equity Partners for an undisclosed sum.
The rights issue would be in addition to the planned Tier 1 bond of $300 million.
The firm said in a statement on Sunday its net profit in the last quarter of 2014 grew to $45.7 million.
The bourse gave no specific timeline for the reform.
Islamic banking assets in the Emirates crossed $1 billion in 2014, a new report says.
Humphrey Percy, who has served as CEO since August 2006, will also step down as a board member of the bank, BLME said.
The key risks for the UAE stock markets are an escalation of the military conflict in Yemen and renewed weakness in oil prices, Credit Suisse said.
Many companies polled said that compliance costs had surged by more than 50 per cent over the last two years.