National Bank of Abu Dhabi , the largest lender in the UAE, on Tuesday beat analysts' estimates with a 17.5 per cent rise in second-quarter net profit, with higher fees and investment gains boosting income.
Abu Dhabi Commercial Bank , the fourth-largest lender by market value in the United Arab Emirates, beat analysts' estimates slightly on Tuesday as it posted a 22 per cent rise in second-quarter net profit on lower impairments.
Saudi Arabia's Capital Market Authority plans to open the stock market to direct investment by foreign financial institutions in the first half of 2015, the regulator said on Tuesday.
The CMA said it would publish next month draft regulations for opening the market; there wou
Saudi Arabia's cabinet gave permission to the financial regulator to open the Arab World's biggest stock market to direct investment by foreign financial institutions.
The opening of the Saudi market, capitalised at about $530 billion, is one of the most keenly awaited ec
Kuwait Finance House (KFH) , the country's biggest Islamic lender, reported a 6.4 per cent rise in second-quarter net profit on Monday, slightly below analysts' estimates.
Net profit rose to KD28.51 million ($101 m
Jeddah-based Islamic Development Bank (IDB) issued $1 billion in five-year Islamic bonds, or sukuk, earlier this month, the largest privately-placed transaction from the supranational institution.
IDB, which promotes economic development in Muslim countries and communities, has e
National Bank of Bahrain (NBB) has reported an increase of 7.4 per cent in net profit at BD28.74 million ($76.44 million) for the six months ended June 30 when compared with BD26.77 million for the corresponding period last year.
Saudi Arabia's economy is likely to grow 4.6 percent this year, more than previously estimated, helped by a robust performance of the private sector, the International Monetary Fund said.
"Private sector growth is expected to remain strong, and oil production is expected
Bank of Bahrain and Kuwait (BBK) has reported a growth of 7.8 per cent in net profit at BD27.2 million ($72.14 million) for the six months ended June 30, when compared with BD25.2 million for the corresponding period last year.
Saudi Arabia's cabinet has given permission to the country's financial regulator, the Capital Market Authority (CMA), to open the stock market to direct investment by foreign financial institutions, the cabinet said in a statement on Tuesday.
The one-sentence statement di