Investcorp is giving up its wholesale banking license in Bahrain to convert itself into a holding company
A potential rise in Saudi bank rates will also have limited impact on growth, the central bank said
Khalid al-Rumaihi replaces Mahmood Alkooheji, who was CEO since Mumtalakat was established in 2006
Tumbling crude oil prices also affected the markets
The drop came despite a 2.5 per cent rise in operating income
The UAE capital markets have suffered “major blows to their corporate governance framework” over the past two years
The Abu Dhabi Financial Group also increased its authorised capital to $692m
Dubai was one of the worst-performing markets globally last year, but has rebounded with its benchmark index up almost 15 per cent so far
No date was given for the implementation of the new tax
Emirates NBD now owns 99.85 per cent of the Turkish lender
The Federal Reserve lowered US interest rates for the first time in over a decade
The bank reported a net profit of SAR2.69bn in the quarter ended June 30
Abraaj Investment Management Ltd and Abraaj Capital Ltd were ordered to pay the amount in the first major fines on the company that collapsed last year
The total number of active registered firms in the centre now stands at 2,289
The results are the first since Abu Dhabi Investment Council (ADIC) joined Mubadala last year
This is the first combined proforma financials after ADCB merged with Union National Bank and Al Hilal Bank
Investors made orders worth nearly $14bn for the long five-year bonds
Environmental disasters can disrupt the economy and threaten financial stability
PIF raised $11bn through a five-year loan last year and is in advanced talks to borrow $10bn more
The Dubai index was boosted by Emaar, which saw strong gains following its China deal
Dubai’s DFSA has been investigating Abraaj Capital over a range of matters
Aramco plans what would be the world’s biggest stock market listing in 2020 or 2021
First Abu Dhabi Bank reported a 5 per cent increase in net profit for the second quarter
The lender said it expects mid-single digit profit growth and high-single digit growth in loans for 2019
Currently the bank has four branches in Saudi – two in Riyadh, one in Jeddah and one in Khobar
Second-quarter net profit jumped 80 per cent to Dhs4.74bn
OCTAL will use part of the bank financing to refinance some of its existing debt and to fund expansion
The transaction includes investments in 14 portfolio companies across the two funds
The company has a portfolio of assets across different sectors in the UAE
Robo-advisors provide investment management services using algorithm-based tools and technology