The bank dropped almost 35 million riyals in the second quarter in comparison to the same period last year.
The Dubai Islamic Bank-owned mortgage lender posted its second straight quarterly profit fall.
Booming revenues from liquefied natural gas will assist the country’s infrastructure revamp.
RBS, Commerzbank and Standard Bank are all threatening legal action against the Dubai Group.
Abraaj Capital founder and group CEO, Arif Naqvi, tells Alicia Buller about his hopes for the private equity sector.
SWF Mumtalakat, which has shares in the airline, made a net loss of $717.68 million last year.
Lending to the shipping industry is facing stormy waters amid a difficult global backdrop.
The Dubai airport retailer will use funds from the international credit facility to finance on-going expansion.
Analysts are not revising share price forecasts following a surge in banking shares after mortgage law approval.
Slowing deposit growth means Qatari banks need other sources to avoid funding issues.
The $500 million Sukuk, EIB’s second issue this year, is priced at par and is due to mature in January 2018.
The Gulf States account for 14 per cent of the total deposits in the island, according to official data.
Total deposits in the country decreased by 1.2 per cent during the month to close at Dhs1.1 trillion.
Abdul Aziz Al Ghurair is the man behind Mashreq, the UAE’s largest privately owned bank. In a rare interview he opens up to Alicia Buller on the greed culture that engulfed the UAE’s banks and lurched the industry into crisis.
Al Nabooda, the distributor of Porsche, Audi and Volkswagen in Dubai, plans major investment push.
The Gulf state is reportedly setting up two companies through an official decree to issue the Islamic bonds.
UAE exchanges say there is still no clarity regarding the Indian government’s proposed service tax on remittances.
Four IPOs, valued at over $1.1 billion were issued in the GCC during the second quarter of 2012.
Shareholders of Capital Management House, Capivest and Elaf Bank approve the three-way merger.
Restaurants and shops consider rejecting premium credit cards as Network International hikes fees.
A firm linked to billionaire Robert Kuok is set to take a stake in Drydock’s Southeast Asia operations, say sources.
Majid Al-Refai will serve four years in jail for a number of crimes during his tenure as CEO of Bank Alkhair.
The Arab state will need to attract conventional rather than Islamic investors due to the lack of sukuk.
Abu Dhabi’s sovereign wealth fund expects emerging market stocks to outperform in the long-term.
The Omani bank plans to use the proceeds from the sale to fund credit expansion and its foray into Islamic finance.
Majid Al Futtaim has begun choosing banks to arrange investor meetings ahead of a second bond issue.
The investment company, which plans to launch an IPO, raised Dhs100 million from the sale.
The free zone has repaid the Islamic loan five months early and consequently received a rating upgrade from Fitch.
The UAE and Qatar have not been upgraded to emerging markets status by index compiler MSCI.
Although the stock market is down 14 per cent from this year’s high, investors are positive on earnings.