National Bank of Kuwait Posts Decline in Quarterly Profit
National Bank of Kuwait SAK, the country’s biggest bank, said third-quarter profit fell amid a weak operating environment. Net income…
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Gulf firms line up prized assets to fund growth
Credit markets are sending a harsh message to Gulf companies slowly emerging from the global financial crisis and now seeking…
Onyx Investments seeks court ruling on Oman's Blue City
Onyx Investments, a subsidiary of Oman's sovereign wealth fund, is seeking a judgement from an Omani court that would allow…
Citigroup appoints chief of Qatar ops
Citigroup announces the appointment of Izzat Dajani as the Chief Executive Officer for Citi Qatar, replacing Farhan Mahmood who has…
Shariah banks in Turkey lag on fund fears
Turkey’s Islamic banks are lagging behind their non Shariah-compliant counterparts because of investor concern slowing economic growth will hurt the…
UAE, Switzerland sign pact to avoid double taxation
In line with the UAE’s efforts to enhance global financial relations, the Ministry of Finance (MoF) recently signed a double…
GCC banks stronger than Western
Banks in Gulf oil producers are now in a better position than banks in the West given their large liquidity…
Etisalat launches cashless mobile payment service
Out of cash in the queue at the coffee shop? Don't worry, there's an app for that — etisalat's new…
Struggling Dubai Bank is taken over by larger rival
Dubai's ruler has ordered the city state's biggest lender by assets to take control of a troubled rival. Emirates NBD's…
Qatar royal family swoop on Belgian, Luxembourg banks
Qatar’s royal family is stepping up its investment in the euro zone’s troubled banking sector with plans to buy private…
Merrill Lynch wealth management strengthens Middle East team with three new hires
Merrill Lynch Wealth Management today announces that it has further strengthened its wealth management business in the Middle East with…
Islamic bodies eye corporate funding opportunities
Islamic financial institutions operating in the region are keen to tap into the long term corporate financing opportunities, including project…