Qatar Exchange Cancels Day’s Trades After Technical Problem

The exchange has said it hopes to resume trading as usual on Wednesday.

Kuwait To Grant Africa $1bn In Development Loans

The loans would come on top of investments by Kuwaiti companies in a number of sectors.

GCC’s Consulting Market Booming At $2bn

Middle East accounts for the majority of thought leadership produced globally on emerging markets.

Saudi Bourse To Impose Tougher Penalties For Big Losses

Under the new rules, trading in companies with losses of more than 75 per cent will be suspended for one day.

Six Arrested In $45m Global Cybercrime Involving RAKBANK, Bank Of Muscat

The five men and one woman, all residents of New York City, were accused of being members of an unnamed global cybercrime organisation

Dubai Regulator Sues Deutsche Bank Over Disclosure Denial

The DFSA sent a first notice to the German bank in July asking for information on wealth management clients.

Al Ghurair Calls For Sanctions To Back UAE’s New Mortgage Law

Banks who violate the new rule should be fined and suspended, says Abdulaziz al-Ghurair, head of the UAE Banks Federation

UAE’s First Gulf Bank To Expand Into New Foreign Markets

The lender expects to obtain banking licences in China and South Korea and is also considering expanding into Indonesia and London.

Dubai’s Expo Win Could Spark Talent War With Qatar

Dubai’s successful Expo bid could result in a tug of war with Doha for experienced regional talent.

HSBC Launches Dhs1bn International SME Fund

HSBC’s fund will be open to firms having an annual turnover of 30 billion dirhams or more.

Saudi Ma’aden Progressing Well In Bank Finance Deal Talks

The cash will be used to fund the Umm Wual development at Waad Al-Shimal City

Oman’s Public Wage Bill Could Rise By $2.3bn In 2014

A royal order to standardise salaries and grades across the public sector is projected to cost OMR800-900 million.

Kuwait Finance House Q3 Net Profit Up 17%, Beats Estimates

The Islamic lender’s net profit rose to KD39.3 million.

GCC Has 61 Private Banks – New Report

Almost half of them – 31 – are international banks, all located in Dubai, says study by Insight discovery.

ADCB To Price $500m Floating Rate Note

The transaction will price at 130 basis points over the three-month London interbank offered rate.

Dubai’s GEMS Sets Initial Price On Hybrid Sukuk

GEMS has hired Morgan Stanley Inc, Credit Suisse and Abu Dhabi Islamic Bank to arrange the sale.

Leeds United Chairman Buys 5.7% Of Gulf Finance House

Salah Nooruddin will join GFH’s board of directors following the stake acquisition.

UAE Markets Vulnerable After Dive By Dubai

Abu Dhabi’s stocks dropped by 0.9 per cent on Monday but Dubai fell 2.8 per cent.

Twitter Shares Found Suitable For Islamic Investment

The social media company’s share price soared in last week’s New York Stock Exchange debut after a $1.8 billion initial public offer.

Qatar’s Business Optimism Highest In Three Years

Qatar’s high business optimism rates show that economic diversification is gaining pace.

Dubai Islamic Bank Posts 33.5% Profit Increase

The bank made Dhs1.2 billion in the nine months to September 30 up from Dhs899 million in the corresponding period last year.

UAE’s Ajman Bank Rehires Amiri As CEO

Amiri, who quit just seven months ago, replaces Mohammad Zaqout who was fired in October.

Different Arab money

Demand For Global Islamic Pension Funds Worth $190bn

Shari’a complaint pension funds are on the rise as people switch from conventional to Islamic banking.

Veteran Gulf Banker Plans Investment Bank In Dubai

Emad Mansour was recently the chief executive of Doha-based Qatar First Bank.

Islamic Capital Markets To Provide Major Stimulus For Economic Growth

Rising international demand for infrastructure and investment project financing is likely to stimulate growth in the UAE, Qatar and Saudi Arabia.

Etisalat In $400m Loan Tussle With Stan Chart, Citigroup

Standard Chartered has around $300 million exposure on the loan, while Citi has the rest.

Qatari Fund Invests In BlackBerry Debt Offer

The smartphone maker abandoned plans on Monday to sell itself sparking a 16 per cent drop in its share price.

Emirates Investment Bank Reports 111% Q3 Profit Rise

The bank also reported a year to date net profit rise of 33 per cent on the same nine-month period last year.

Revealed: Top 5 Companies In Saudi Arabia 2013

The biggest businesses in the Kingdom, valued by market capital.

Investcorp Buys $250m Worth Of U.S. Real Estate Assets

The Bahrain company bought high-end offices and retail space in greater Chicago, Los Angeles, Minneapolis and New York.