The merger is still subject to shareholder and regulatory approval
The rupee may touch 21 against the UAE dirham by the end of the year, says expert
A dirham yielded more than 20 rupees earlier this morning
FAB said the system can be used to make payments using regular cash registers
IPIC and Mubadala’s debt will sit under only one public investment vehicle
Yemen’s currency, the riyal, has lost more than half its value against the US dollar
The company said 2019 should mark the easing of three years of significant pressure on regional lenders
The deal is expected to involve the purchase of all or nearly all of the 70 per cent stake in SABIC held by the PIF
Reports claimed the Sharjah government was mulling the merger to create a bank with about Dhs66.2bn in assets
Saudi, the UAE, Bahrain, Kuwait and Qatar will enter JP Morgan’s emerging market government bond indexes next year
Three Abu Dhabi banks are also currently in talks to merge
Bahrain, Saudi and the emirates peg their currencies to the US dollar
The indexes are key performance benchmarks for international investors in emerging market debt
Companies cannot recover the tax incurred on goods or services purchased to be given away to staff free of charge
Abu Dhabi’s Al Dahra has been expanding aggressively in eastern Europe in the last five years
Liquidators have started breaking up the operations of private equity firm Abraaj
The company is planning to return to the debt market with a new public issue of US dollar-denominated sukuk
The decision to delay the IPO was prompted by US tariffs on aluminum imports, claims report
It is the latest company to delay a public listing in Saudi
Abu Dhabi Investment Council (ADIC) was merged with Mubadala in March this year
The Visa credit cards will allow users to earn and redeem points at 1,500 Emaar touchpoints across hotels, restaurants and leisure outlets
The bank expects to grow lending by up to 5 per cent this year
The company will invest up to $150m in the second round of the China Everbright Limited New Economy Fund
The lender now has branches in three Saudi cities including Riyadh, Jeddah and Khobar
The targeted field campaigns were carried out by inspection teams during the first week of the new school year
Sanea was detained last year for unpaid debts dating back to 2009
More than a dozen bidders are seeking to buy the bulk of Abraaj’s private equity funds
Abu Dhabi, Bahrain and Riyadh saw their ranking delcine
It would be the kingdom’s second international sale of sukuk after a $9bn transaction last year
The new debt issue would be Saudi Arabia’s second international sukuk, following a $9bn debut deal last year