The conglomerate was the first high-profile company to file for a settlement under Saudi Arabia’s new bankruptcy law
The investment fund and its CEO were individually fined $10,000 for failing to submit audit reports on time
The $1bn merger deal with US-based firm Twelve Seas Investment is expected to be finalised before July 1
The Dubai Financial Services Authority has been investigating Abraaj Capital, an entity of the collapsed firm
The bank said the increase in net interest income reflected strong growth in business volumes
The loan will be repaid from the proceeds PIF gets from selling its SABIC stake, a source said
Foreigners will be allowed to own as much as 40 per cent of FAB stock from a previous limit of 25 per cent
Abraaj had been the largest buyout fund in the MENA region until it collapsed in the middle of 2018 over fraud charges
The government previously promised to support the bank after it was hit by high levels of bad loans
The New York office will focus on financial services and private equity
Martin Tricaud takes over from Georges Elhedery, who has been appointed to lead HSBC’s Global Markets division
State-owned Aramco’s bond issue is split into maturities ranging from three to 30 years
The company intends to use the net proceeds to finance expansion plans and reduce net debt
The bonds range in maturity from three to 30 years and are expected to attract demand from emerging markets and investment-grade buyers
The government of Sharjah promised support late last year after the bank was hit by high levels of bad loans
A media report claimed Dubai Islamic Bank was in talks to buy its smaller rival
The deal values the Spanish company at an enterprise value of $12bn
Government plans to diversify its oil-based economy are expected to boost lending
A wave of consolidation has been sweeping Abu Dhabi in recent times
The UAE currently serves as HSBC’s headquarters for its operations in the MENAT region
The current offer is roughly 20 per cent lower than the $3.2bn agreement reached last year
The minimum VAT amount to reclaim is Dhs2,000
In March, the lender’s CEO said the bank will close 50 per cent of its branches this year
Last month, Dubai-listed Shuaa disclosed it had started talks on a possible merger with the Abu Dhabi Financial Group
Ghosn was arrested in Japan in November for suspected financial misconduct at Renault’s alliance partner Nissan
The stock is expected to begin trading on the London Stock Exchange on April 11
Aramco intends to issue its first U.S. dollar-denominated bonds, expected to be for at least $10bn, in the second quarter
Uber acquired Careem this week in a $3.1bn deal
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The kingdom sold $1.62bn in local currency debt, with maturities of 10 and 15 years