The new office of the global asset management company will be headed by ex-Mumtalakat CEO, Talal Al Zain.
The private equity firm announced that Tom Speechley, senior partner at Abraaj, will take over as the CEO of UK-based Aureos.
NBAD, the largest bank by market value in the UAE, saw second quarter profit grow on higher net interest income.
The UAE-based bank made a net profit of Dhs1.02 billion during the period, beating analysts’ forecasts.
As GCC SWFs begin to invest closer to home, the West may find itself with an increasingly empty begging bowl.
Saudi Arabian Fertilizers Co (Safco) has also proposed a SAR6 dividend for the first half of 2012.
Finance Minister Sheikh Hamdan says the country will fill any gap “from its own resources.”
The UAE-based lender reported a net profit of Dhs668.7 million for the first half of the year.
Dubai-based Emirates NBD made a net profit of Dhs647 million in the second quarter of the year.
Mohammad Al Mojil Group failed to announce its second quarter results, forcing the CMA to suspend trading.
The Kuwaiti investment firm has asked for a four year extension on the Islamic bond which is to mature next month.
The Dubai-based bank made a second-quarter net profit of around Dhs320 million, mainly due to a drop in provisions.
Savola Group also posts a rise for the second quarter making $90.9 million profit, up 48 per cent.
The Kuwaiti bank’s CEO blamed the political deadlock in the country for hampering economic growth.
Barclays, hit by the Libor scandal in Britain, will leave the IBOR panel after around 90 days.
Saudi Basic Industries Corp saw its quarterly profit drop due to lower prices and production.
Oman’s lender makes $50.6 million profit for the first half of the year, a huge rise from the same period last year.
The Kingdom plans to allow foreign firms to list on its stock exchange within a year, an official has said.
Zain’s share hold in the Saudi operator could rise to above 50 per cent forcing the Kuwaiti firm to consolidate losses.
The bank made a Q2 net profit of $26.8 million, up on analysts’ expectations and last year’s results.
The US-based bank saw overall net income fall to $2.94 billion in the second quarter of the year.
Oman’s largest lender has offered new shares to existing holders at a discounted price to raise over $250 million.
The Saudi-based property developer said that Sukuk account holders will receive the funds on Monday.
The Oman lender made net profit of $90.9 million in the second quarter, above analysts’ estimations.
The new rule, introduced by the central bank, will begin next year and extend until the end of 2014.
Foreign direct investments into the Middle East dropped 16 per cent to $49 billion in 2011, says UN report.
The bank has withdrawn from the interbank panel following the Libor scandal in the United Kingdom.
The Gulf-state priced five and 10-year tranches at $2 billion each, attracting an order book of over $24 billion.