DUBAI: Jordanian entrepreneur Majied Qasem waited three years before arranging outside funding for his start-up company, d1g.com, an Arabic social media and content-sharing platform. He finally succeeded in September 2011, eight months after Arab (...)
DUBAI: Shuaa Capital, the struggling Dubai-based investment bank, on Tuesday named a former ABN Amro banker as its new chief executive, replacing Michael Philipp who stepped down after just six months in the job.
Shuaa said Colin MacDonald, who (...)
DUBAI: British dealmaker Amanda Staveley, restaurateur turned go-to broker for the Abu Dhabi royal family, has made millions in a region where women rarely play high-profile roles.
More could be in the pipeline after sources said on Tuesday that (...)
DUBAI: Dubai-based Abraaj Capital, the Middle East's largest private equity firm, is gearing up for an initial public offering (IPO) as early as next year following its recent acquisition of emerging market fund manager Aureos Capital, the company's (...)
DUBAI: French lender BNP Paribas expects to grow its revenues from the oil-rich Gulf region this year despite a slight impact on its business as a result of the Arab Spring, the bank's Middle East head told Reuters in an interview on (...)
DUBAI: Abraaj Capital said on Monday it will acquire specialist fund Aureos Capital, in the latest bid by the Middle East's largest private equity firm to expand its geographical footprint.
Abraaj declined to give financial details for the (...)
DUBAI: The Egyptian government, seeking to head off a funding crisis, is preparing to raise about $2 billion through its first issue of Islamic bonds, an Islamic scholar familiar with its planning said on Tuesday.
"The Egyptian government is (...)
ADEN: At least 12 Al-Qaeda militants, including one wanted by the United States, were killed in a drone strike in southern Yemen, a tribal leader said in what he called one of the biggest US strikes against the group.
Residents said the (...)
DUBAI: US private equity firm Carlyle Group's Middle East head Walid Musallam is leaving the firm following disagreement over the company's strategy in the region, two sources told Reuters on Monday.
Musallam, who joined Carlyle in November 2006 (...)
DUBAI: Egypt, which has been forced to rely on local banks for funds in the wake of last year's popular revolt, is laying the groundwork for a debut sovereign Islamic bond, or sukuk, said a person familiar with the matter on Wednesday.
"Egypt is (...)
DUBAI: Part-nationalized Royal Bank of Scotland is in talks to sell its mergers and acquisitions business in the Middle East and cut some jobs as part of a global restructuring at the UK bank, its regional head said on Monday.
Simon Penney, RBS' (...)
DUBAI: International Finance Corp. , a unit of the World Bank, plans to invest close to $1 billion by the end of June in countries including Egypt, Iraq, Jordan and Libya, its regional director said on Sunday.
"We've invested so far more than a (...)
DUABI: Dubai-based Shuaa Capital, the investment bank undergoing a broad restructuring, is expanding its profitable credit finance business Gulf Finance Corp (GFC) into Saudi Arabia and may offer a stake in the unit to new investors.
"It is the (...)
DUBAI: Egyptian private equity firm Citadel Capital said on Sunday it swung to a standalone loss of LE 20.7 million ($3.5 million) in the third quarter, compared with a net profit of 18.43 million pounds in the same period last year.
The firm, (...)
DUBAI: European Islamic Investment Bank is in talks to acquire a 30 percent stake in Dubai-based Rasmala Investment Bank, two sources with knowledge of the matter told Reuters on Thursday.
The acquisition, which is set to be completed in early (...)
DUBAI: A proposed Islamic bond issue by Saudi Arabia is important not so much because it would raise money for the country — the kingdom does not need the cash —but because it could serve important monetary policy goals.
By making the first (...)
DUBAI: Standard & Poor's (S&P) is reviewing credit ratings on 50 banks in the Middle East and North Africa under a new set of criteria, a move that could result in higher funding costs for lenders already hit by the euro zone crisis and the Arab (...)
DUBAI: Private equity firms in the Middle East, grappling with regional political turmoil and investor unease about the global economy, face a grim immediate outlook but are making preparations for a hoped-for recovery in deal flow next (...)