Shuaa Capital said on Sunday that it had started discussions on a possible merger with ADFG
The merger with Abu Dhabi Commercial Bank and Union National Bank is expected to created the UAE’s third largest lender
The talks with Abu Dhabi Financial Group are aimed at creating a larger financial listed group
The Central Bank ruled that all banks must have updated Emirates ID records for their customers by February 28
Developer Emaar Properties fell 1.7 per cent while its unit Emaar Malls shed 2.3 per cent
The Dubai lender is the largest issuer of conventional bonds on Nasdaq Dubai
The sale represents Aldar Investments’ second transaction this year
The impact of implementation of a value-added tax last year eased this year
Saudi shares have gained 9.6 per cent so far this year
Saudi shares on Monday joined the FTSE Emerging All Cap Index with a weighting of 2.9 per cent
PIF, which is chaired by Crown Prince Mohammed bin Salman, manages over $250bn in assets
Saudi stocks join the FTSE Emerging All Cap Index this week
Mubadala subsidiary IPIC filed a lawsuit against Goldman Sachs last year in relation to its dealings with Malaysian state fund 1MDB
Creditors have been pursuing AHAB and Saad Group since they defaulted on about $22bn in combined debt in 2009
SRC, a wholly owned subsidiary of the kingdom’s sovereign wealth fund PIF, aims to accelerate housing construction
European Union governments adopted a broadened blacklist of tax havens on Tuesday
Residential property prices in Dubai have been falling since 2014 on high supply and weaker demand
Oman Insurance said Qatar’s central bank has rejected its application due to the GCC dispute
The deal is expected to involve the purchase of all or nearly all of the 70 per cent stake in SABIC held by the Public Investment Fund
The total number of active registered companies operating in the centre has reached 2,137
A media report suggested that the kingdom was considering raising zakat to 20 per cent from the current 10 per cent
The financial relationship manager was accused of producing inaccurate information and making unauthorised investments
The value of dividends of 18 UAE banks was up 12.2 per cent on the previous year
Abraaj fell out with investors last year over a $1bn healthcare fund
Foreign investors have put more than $1.5bn into the Saudi market since the start of the year
There is growing interest from foreign investors ahead of Saudi’s inclusion in the FTSE Russell and MSCI’s emerging market indexes later this year
Digitisation not only requires IT investment but a fundamental change in the business model
Orders for the five-year senior unsecured bonds totalled almost $3.5bn
Mumtalakat is looking at investment opportunities in areas such as education and healthcare
Saudi currently has 27 banks operating in the kingdom, 15 of which are foreign banks