The amount raised will be used for the company’s general operating expenses and to fund some of its aircraft deliveries.
Saudi Arabia’s advisory body will rethink its decision about reducing working hours in the private sector following an appeal by some of its members.
Mohsin Nathani will replace Jonathan Morris, who has resigned from the bank for personal reasons.
The merger is being carried out through a share swap of 11 Al Salam Bank shares for every one BMI Bank share.
The company said it was recommending a five per cent bonus share dividend to shareholders for 2013.
The bank is on a hiring spree as it grows its commercial business and expands overseas.
The company made a net profit of Dhs76.4 million in the three months to December 31.
The lender made a net profit of Dhs306 million in the three months to December 31, up from Dhs136 million in 2012.
The company recorded a net income of $60.1 million in H1 FY 2014, compared to $39.2 million last year.
The UAE is expected to see inflation-adjusted GDP expand 3.9 per cent in 2014 and four per cent in 2013.
The new rules cover the operations and solvency of takaful firms.
Dubai was one of the best-performing stock markets in the world last year.
Mounir Kuzbari, EVP and board member, Novus Aviation Capital, explains how the GCC financial sector can better support the capital expenditure obligations of the region’s airlines.
Investment banks in the Middle East have been growing as regional markets continue to recover from the global financial crisis, says Frost & Sullivan.
GCC states have given Egypt billions of dollars since the army toppled President Mohamed Mursi.
The lender offered a 15 per cent cash dividend plus bonus shares of 10 per cent in 2012.
Can Iraq’s oil prospects offset foreign investor’s security concerns?
The lender made a net profit of Dhs1.37 billion in Q4 2013, compared with Dhs1.15 billion in the prior-year period.
Waha has picked HSBC Holdings and First Gulf Bank to help arrange the five-year loan.
The bank made Dhs518 million in Q4 2013, up from Dhs311.7 million in the corresponding period the year before.
The bank made a net loss of 1.8 million rials in Q4 2013, compared to a net loss of 4.77 million rials in the year before period.
The new initiative Ro’Ya will help boost the rate of female entrepreneurship in the UAE, experts said.
James Burdett was chief financial officer for ANZ.
Net profit for the quarter was Dhs1.08 billion, slightly lower than Dhs1.12 billion in the year-ago quarter.
Full-year net profit was 32.16 million dinars compared with 30.89 million dinars in the same period a year ago.
The Dubai index has dropped for two consecutive sessions but is still up in January.
ENBD’s loans to Dubai government consist of Dhs91 billion out of a total loan book of Dhs238.3 billion.
A 26 per cent rise in net interest income was offset by a 40 per cent year-on-year jump in impairment allowances.
The bank’s profit was boosted by a rise in net interest income and net fee and commission income.
The bank reported Dhs879 million for the quarter, beating analysts’ estimates.