Dubai’s Emaar Malls Seen Selling 10-Year Sukuk This Week

The potential benchmark sukuk comes ahead of plans by Emaar Properties to sell a quarter of its unit to the public.

RAKBANK Eyes Benchmark-Sized Debut Bond Issue

The bank has chosen National Bank of Abu Dhabi and Standard Chartered to arrange roadshows in the Middle East, Asia and Europe starting June 11.

Emirates Steel Lowers Cost With $1.3bn Refinancing Deal

The facilities will be used to refinance an existing $1.1 billion facility and purchase assets.

Bank Muscat Considers Sale Of Brokerage Unit

The lender did not give a size or time frame for the potential sale of the unit.

UAE’s Mubadala To Convert Bonds Into 79.4m Tabreed Shares

Mubadala is currently the biggest shareholder in Tabreed with 14.3 per cent.

Saudi Arabia To Discuss Proposal For Sovereign Wealth Fund

The proposed Saudi fund would start with capital of 30 per cent of budget surpluses accumulated over past years, it was reported.

UAE Economic Growth Accelerates To 5.2% In 2013

The development of oil output along with a stable level of oil prices contributed to the UAE’s economic growth in 2013.

Saudi Regulator Lifts Share Trading Suspension On Etihad Atheeb

The regulator had halted the trading of STC shares after the company failed to give sufficient details on a network sharing deal.

UAE Central Bank: Rental Yields May Indicate Growing Imbalances, Overheating

Monitoring development in the UAE real estate markets and the banks’exposure to it remains a core financial stability priority, the bank said.

UAE Central Bank To Propose New Capital, Liquidity Rules In H2 2014

The new rules on capital will include requirements for enhanced capital, the application of a new leverage ratio and a shift in definition of capital.

Egypt Implements Temporary Tax Increase For Wealthy

The tax will apply for three years, Egyptian state media reported.

Saudi Investment Bank Sells $533m Capital-Boosting Sukuk

The offering will support the bank’s capital base in accordance with Basel III requirements, assist its future growth and diversify funding sources, a statement said.

Ras Al-Khaimah Eyes Sovereign Sukuk Issue

A deal from the emirate isn’t expected until at least the third quarter of this year.

Egyptian Tycoon Sawiris Backs $257m Bid For 20% Of EFG Hermes

EFG Hermes is one of the biggest investment banks in the Middle East.

Egypt Studying International Bond Issue

An official said that the bond issue would mainly be aimed at Gulf Arab investors.

Trading In Saudi’s Etihad Atheeb Halted Pending More Info On STC Deal

The Capital Market Authority (CMA) has suspended trading in Atheeb shares until the company provides more details.

Dubai Emaar’s Malls Unit Eyes Potential Debut Sukuk Issue

The meetings will be held in Asia, Europe and the Middle East and the sukuk will be sold afterwards, subject to market conditions, Emaar said.

Dubai Islamic Bank Buys 25% Of Indonesia’s Bank Panin

The agreement with DIB was made official about two weeks ago, a senior official from the Indonesian bank has said.

Bahrain’s Mumtalakat Ends Losing Streak, CEO Says Profits To Stay

The fund’s 2013 profit was driven by lower impairment losses and improved operating performance of assets.

UAE Gains Three Slots In Global FDI Confidence Index

A strategic location, well-developed infrastructure, and a large talent base has positioned the UAE favourably among investors.

Abu Dhabi Economy Grows 5.2% In 2013, Slower Than Expected

The contribution of the hydrocarbon sector edged down to 51.4 per cent in 2013 from 52.4 per cent in 2012.

Barclays Cuts Several Hundred Investment Bank Jobs

The cuts will mostly be in the fixed income, currencies and commodities (FICC) trading and markets businesses, according to sources.

Abu Dhabi’s TDIC Secures Financing To Repay $2bn Bonds In 2014

TDIC is building iconic museums such as the Louvre and Guggenheim in Abu Dhabi.

Saudi Business Activity Growth Slows In May

While output growth continued to accelerate, growth in new orders dropped sharply.

PineBridge Investments Raises $140m For GCC Real Estate Fund

The fund will acquire existing real estate assets, with a focus on the logistics, social infrastructure and community retail sectors.

Qatar Image Would Suffer More Than Economy If World Cup Lost

Qatar is wealthy enough to handle such economic dislocation without long-term damage, analysts say.

Abu Dhabi’s TDIC Narrows 2013 Loss On Higher Revenues

The company made a net loss of Dhs1.13 billion ($307.7 million) in 2013 compared to a loss of Dhs2.15 billion in the prior year.

Bahrain Budget Gap Doubles In 2013, Spending Rise Lowest Since 2009

State spending rose by 2.8 per cent to BD3.4 billion in 2013, some 14 per cent below the budget plan.

Oman’s Bank Dhofar Proposes Share Swap Ratio For Bank Sohar Merger

A merger between the two banks would create Oman’s second biggest bank by asset value, with assets worth around 4.78 billion rials ($12.42 billion).

Saudi Mall Owner Othaim Plans Debut Local Currency Sukuk

The transaction is likely to be worth between SAR500 million and SAR1 billion, sources said.