Gulf Arab banks have stepped up bond sales this year with over $5 billion of dollar-denominated bonds issued so far.
The bank recorded strong growth in net profit and net income compared to its first quarter in 2012
The repayment was part of a dual-tranche facility issued in April 2008.
The government hopes to facilitate debt sales by its private sector, says finance minister Darwish al-Balushi
The 10 year loan facility will be used to develop the first phase of the residential compound
ADCB’s shares hit a 4-1/2 year high on Wednesday; the bank posted a five per cent increase in first-quarter net profit.
Citi’s family office unit is part of the private bank business which manages over $250 billion in assets and serves over a third of the world’s billionaires.
The UAE lender has not opened a new branch in Dubai for almost 14 years and yet it reported a rise in net profit of 24 per cent for 2012.
The Global Marketplace Abu Dhabi could become a competitor to Dubai, currently the Gulf’s premier financial centre.
QIB last tapped the market with a $750 million five-year sukuk in October as part of its $1.5 billion sukuk programme.
The $3.4 billion bank financing was split between a $2.925 billion portion from commercial lenders and $475 million from Islamic banks.
The lender made a net profit of Dhs425.3 million ($115.8 million) in Q1, an increase on the Dhs270.8 million from 2012.
The Dubai-based developer’s profit was hit by increasing sales and administration expenses.
The private equity firm is selling German insulation firm Armacell to Charterhouse Capital Partners.
The majority of the NRIs have investments in illiquid assets and expect familial support during retirement.
The IMF has said that Kuwait’s government needs to include the tax system in its fiscal reforms.
The first day of the third Annual Investment Meeting in Dubai began with a heavy focus on investment in Africa.
The fund holds stakes in 40 Bahraini firms including Batelco and Aluminium Bahrain (Alba).
Any transaction is expected to be at least $500 million in size, say sources.
FGB made a net profit of Dhs1.05 billion ($285.9 million) in the first three months of 2013, up from Dhs934.7 million in the same period of last year.
The Islamic lender made a net profit of 291.1 million riyals ($79.99 million) during Q1, compared with 387.7 million riyals in the same period a year ago.
In Dubai, heavy buying of mid-cap stocks pushed the index up 1.6 per cent to its highest close since November 2009.
The area, known as the Abu Dhabi World Financial Market, is scheduled to come up on the emirate’s Al Maryah island, say sources.
Rick Pudner was speaking at the bank’s Q1 results days after the lender announced he would step down this year.
Before you jump headfirst into the local equity markets, it’s important to gain knowledge of the companies, industries and economy you’re buying shares in.
The lure of higher salaries along with shorter working hours and more holidays has seen a large number of Emiratis opting for a public sector career.
The lender posted a net profit of Dhs903 million ($245.8 million) in the three months to March 31, up from Dhs861 million in the prior-year period.
The value of mergers & acquisitions in the region rose to $14.6 billion in the first quarter of the year, finds Ernst & Young.
The Dubai bank made a net profit of Dhs837 million in the three months to March 31 compared to Dhs641 million last year.
Supporting smaller firms is a key part of the government’s economic policy but lending growth hit a 22 month low in February.