GCC government borrowings set to surge on higher spending plans
Govereign borrowings by GCC governments are set to surge in 2019, largely driven by higher spending needs in the context…
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Kuwait's NREC pens $200m Grand Heights Egypt deal
Kuwait's National Real Estate Company (NREC) expects to bank nearly $30m in profit by building a townhouse community in Egypt's…
12 Saudi banks to pay 17.9bn riyals to settle Zakat payments
Twelve listed Saudi banks reached a 17.86 billion riyal (Dh17.5bn) settlement with the kingdom’s tax authority over the payment of…
Abu Dhabi's bank merger to result in 1,000 job cuts
A proposed three-way bank merger in Abu Dhabi may lead to about a thousand jobs being cut, according to three…
Barwa Bank EGM approves proposed merger with IBQ
Barwa Bank’s extraordinary general meeting has approved the proposed merger with International Bank of Qatar (IBQ). The extraordinary meeting…
Qatar partners Malaysia, Turkey to conquer Islamic finance market
Qatar is planning an ambitious new initiative with Malaysia and Turkey to serve the $2 trillion global Islamic finance market…
Invest Bank seeks fresh capital infusion to strengthen balance sheet
Sharjah-based Invest Bank has been hit by high levels of non-performing loans (NPLs), largely from its exposure to cyclical down…
Standard Chartered to make top level changes in Gulf ops
Boutros Klink is appointed CEO, Middle East, excluding the UAE. In his expanded role, he will have oversight over all…
ICO regulations to hit the United Arab Emirates in early 2019
Regulations on Initial Coin Offerings (ICOs) are set to be introduced by the financial watchdog of the United Arab Emirates…
Turkish Banks Take Over Largest Phone Operator After Default
A group of Turkey’s major banks took control of Turk Telekom AS, the nation’s largest phone company, setting it up…
Arrow Capital selected Axia for their wealth management operations
Profile Software has announced that Arrow Capital, an investment firm with operations in the UAE and Mauritius, has selected Axia…
Kuwait's plan to reduce expats 'to impact economic growth'
Kuwait's plan to cut expat numbers by 1.5 million over the next seven years will impact economic growth, according to…