While regional banks are reporting good growth rates, customer service has to improve, warns a new study.
The move is expected to force all the creditors of the Dubai-based shipbuilding unit to agree to its $2.2 billion debt-restructuring plan.
RED, Abraaj’s small and mid-cap investment platform, has invested $20 million in the region so far this year.
Update: The Kuwaiti developer’s shares have now resumed trading on Dubai Financial Market.
The companies, which failed to report earnings on time, join 12 other firms suspended earlier this year.
Saudi Electricity Company will use the amount, loaned by a group of international banks, to build a power plant in Rabigh.
The acquisition includes the retail, commercial and corporate banking businesses of Lloyds in the country.
The bank said that it repaid the five-year Sukuk from its own resources.
As private investors from the GCC divest large portions of their wealth offshore, Aarti Nagraj investigates where the money is headed.
Dubai’s ship building unit will ask its syndicated lenders to sign a lock-up agreement.
Dubai’s Jebel Ali Free Zone is planning to launch a syndicated loan to partly refinance its $2 billion Sukuk maturing in November.
As officials in Dubai complete the study for an expatriate pension scheme, experts say that the move will protect workers and improve the economy.
Talal Al Zain, who recently resigned from Bahrain’s sovereign wealth fund, has been appointed as the CEO of PineBridge’s MENA operations.
Britain is reportedly holding talks with Abu Dhabi to sell a part of its stake in Royal Bank of Scotland.
The move marks the first significant direct investment by the Abu Dhabi fund in Brazil and Latin America, it said.
A study is being conducted to check the economic impact of the move, which will introduce a single tax rate across the seven emirates.
Regional investors are ready to provide up to half a billion dollars to promote new businesses in the Middle East, say industry experts.
Emirates NBD said that its shareholders had approved a cash dividend of 20 fils per share for 2011.
The Mall of Egypt will be one of North Africa’s largest shopping centres.
The port operator has said that it will pay off its loan, which matures in October, six months ahead of schedule.
The UAE lender’s loan will help Indonesian coal producer AKT to meet its working capital needs.
Abraaj is making the acquisition through its subsidiary, Riyada Enterprise Development.
After a tough couple of years, could 2012 be the year that lackluster regional stock markets regain their shine?
Mumtalakat has appointed ALBA chairman Mahmood Hashem al-Kooheji as its new CEO.
The debt crises in the West has spurred an upsurge in lending for local banks.
The five-year bond is the third issue by Emirates NBD this year and the second by a UAE bank this week.
The lender had earlier said that it was advised by the UAE central bank to cut its dividend to 10 per cent.
The property developer said that it will discuss the proposal with shareholders during its annual general meeting on April 23.
The future of the UAE’s insurance industry looks secure, say industry experts.
However, the UAE Economy Minister said that resuming trade in Amlak stocks will take more time.