Oman relies on oil and gas for 87 per cent of its budget revenue.
The GCC’s young population, economic well-being and a steadily rising GDP per capita will boost retail banking.
The amount represents a compound annual growth rate (CAGR) of nearly 12 per cent.
Profit rose on the back of gains from the acquisition of Sorouh and handover of residential units.
The maturity is part of a $1.75 billion, two-tranche bond which the fund sold in 2009.
A stake in the maintenance subsidiary is expected to be sold to the public before June 2015.
The bank has severed relationships in its cash management business in the Middle East.
The bank made a net profit of 300 million riyals for Q4 2013 compared with 447.3 million riyals a year earlier.
The IMF has warned that Kuwait’s expenditure could exceed oil revenues as early as 2017.
QInvest is streamlining its operations, focusing on investment banking and asset management business.
The bank was found in material non-compliance with requirements to produce information to the financial regulator.
Qatar sovereign fund is reportedly seeking a 15-20 per cent in the troubled Italian lender.
Changes in Saudi’s mortgage law in 2013 are expected to boost banks in the GCC’s largest domestic market.
After some difficult years, there are signs of better times ahead for the UAE banking sector.
The lender is looking for acquisition targets in Turkey, Morocco and sub-Saharan Africa.
The five-year bond was issued to Abu Dhabi’s International Petroleum Investment Co (IPIC) in 2009.
Lars Seier Christensen warns of slowdown in China and on-going concerns in the Eurozone
Around 74 per cent of Chinese investors polled said that they expected outbound M&A deals from the country to rise in 2014.
The brokerage is seeing increased interest in the three markets among Qatari investors.
The lender made a net profit of Dhs343 million in the fourth quarter compared with Dhs242.8 million in the same period in 2012.
The $450 million Islamic bond is due to mature in February 2015.
The announcement was made by Italian Prime Minister Enrico Letta, who is officially visiting the GCC.
The number of active registered companies operating within the DIFC rose 14 per cent to 1,039 last year.
The bank has mandates for arranging loans and bonds for UAE entities totaling around $15 billion, an official said.
Trading on Dubai Financial Market (DFM) was suspended because of a system malfunction
The injection will allow IBB to grow its retail operations and develop its commercial business.
The firm’s total assets grew to Dhs5.2 billion from Dhs4.4 billion a year earlier.
Net profit rose to 26.4 million Kuwaiti dinars in the three months to the end of December compared to 11.8 million dinars a year earlier.
The small Dubai team managed $425 million of assets at the end of 2013.
A bulk of local recruitment in banks is happening at graduate level, which needs to be accompanied by a sound retention strategy.