ABU DHABI: The Arab Monetary Fund is unlikely to offer any funding assistance to the euro zone because providing loans to unrest-hit countries across the Arab world has priority, Director General Jassim Al-Mannai said on Sunday.
"There is a big (...)
ABU DHABI: Oman has started implementing stress tests in its banking sector to limit the impact of the euro zone crisis and a feared global recession, a senior central bank official said on Sunday.
"Some banks are already doing their stress (...)
ABU DHABI: ISAM, the hedge fund founded by former Man Group chief executive Stanley Fink, is targeting cash-rich sovereign wealth funds and institutional investors in the Middle East to grow its assets under management at least seven-fold in the (...)
ABU DHABI: Abu Dhabi's mammoth new industrial zone is wooing investors from Asia to set up shop and help the emirate diversify its economy away from oil, its top official said.
Khalifa Industrial Zone Abu Dhabi (Kizad) at Taweelah, midway between (...)
ABU DHABI: Qatar, Saudi Arabia and the United Arab Emirates are pushing ahead with multi-billion dollar railway projects, and key contracts are set to be awarded soon as the energy-rich Gulf states seek to boost local infrastructure to meet rising (...)
ABU DHABI: The Abu Dhabi Investment Authority (ADIA), one of the world's largest sovereign wealth funds, has restructured its external equities department, separating indexed funds from active funds as part of a more focused strategy.
Sheikh (...)
ABU DHABI: Union National Bank jointly owned by the governments of Abu Dhabi and Dubai, has picked four banks for investor meetings ahead of a potential dollar bond issue, two sources said on Sunday.
HSBC Holdings , Standard Chartered Plc , (...)
ABU DHABI: National Bank of Abu Dhabi has a $377 million exposure to Egypt and $51 million to Libya, but the lender's CEO said this was not cause for concern.
The exposure to Egypt is mainly to international companies and some UAE companies while (...)
ABU DHABI Mar: Stock markets in Middle East and North Africa lost $140 billion in market capitalization during the last five weeks as political unrest sweeping through the region left investors nervous, a report said.
The market capitalization of (...)
DUBAI: Emaar Properties, which built the world's tallest building, priced a $500 million Islamic bond at a profit rate of 8.5 percent, three sources said, as the first UAE sukuk of the year was oversubscribed.
The five-and-a-half year sukuk, (...)
ABU DHABI: Occidental Petroleum will have a 40 percent share in the Abu Dhabi National Oil Company's (ADNOC) Shah gas project, United Arab Emirates' state news agency WAM said on Thursday.
Occidental Petroleum has won the contract develop Abu (...)
ABU DHABI: Abu Dhabi investment fund Mubadala is open to raising its stake in General Electric Co (GE) and expects to close a joint infrastructure fund with the US firm worth $500 million in 2011, its chief operating officer said.
The Abu Dhabi (...)
ABU DHABI: Abu Dhabi National Energy Co. (TAQA) reported a sharp rise in third-quarter profit on higher prices for oil and gas, beating analysts' expectations.
TAQA, which is 75 percent-owned by the government of Abu Dhabi, said profit was 218 (...)
ABU DHABI: Egypt will push ahead with economic reforms in order to achieve the targeted $10 billion in foreign direct investment in the 2010-11 fiscal year, the Egyptian trade minister said on Wednesday.
Egypt's FDI halved to $7 billion in 2009 (...)
ABU DHABI: Abu Dhabi Marine Operating Company (ADMA-OPCO), majority-owned by Abu Dhabi's state oil firm, plans to spend at least $10 billion developing two offshore fields to boost the firm's crude output 60 percent by 2017, its chief executive said (...)
ABU DHABI: Swiss private bank Falcon, wholly-owned by Abu Dhabi fund Aabar Investments, expects to more than double its assets under management in the Middle East by tapping into the region's wealthy, its chief executive said.
"Our focus on the (...)
ABU DHABI: District cooling firm Tabreed's Bahrain unit sees a bleak short-term outlook due to a collapsing construction market even as its first permanent cooling plant starts this week, an executive said.
"We will not see our next cooling plant (...)
KUWAIT: Kuwait's Burgan Bank raised $400 million in a 10-year bond sale on Thursday, at a coupon rate of 7.875 percent.
The dollar-denominated bond sale attracted a final book size of $1.5 billion, one source with a lead bank said, signalling the (...)
ABU DHABI: Banks in the United Arab Emirates have been directed by the central bank to provide more frequent details of remittances to Iran, bankers said on Monday, in an apparent tightening of scrutiny in line with U.N. sanctions.
The United (...)
ABU DHABI: Abu Dhabi's Sorouh Real Estate, one of the Middle East's biggest developers, said on Tuesday a lack of land sales in the second quarter explained a sharper-than-expected drop in net profit and revenues, both of which fell about 80 (...)
ABU DHABI: Jordan's central bank does not plan to change the composition of its $11 billion foreign exchange reserves and it needs to be vigilant due to advancing inflation, Governor Umayya Toukan said on Sunday.
Jordanian officials have been (...)
ABU DHABI: Abu Dhabi National Energy Co (TAQA) has no plans to issue a bond this year, after reported meetings with investors since early June in the United States, Asia and Europe, a company executive said on Sunday.
TAQA, majority owned by the (...)
ABU DHABI: France's Total, Spain's Abengoa and the United Arab Emirates's Masdar will build a 100 megawatt concentrated solar power (CSP) plant southwest of Abu Dhabi, Masdar said in a statement on Wednesday.
The CSP, named Shams 1, would be the (...)
ABU DHABI/MUMBAI: Abu Dhabi's Etisalat confirmed it is looking to buy a stake in an Indian mobile operator, after a report that it was in talks with cash-hungry Reliance Communications for a $3.8 billion deal.
Buying a stake in India's (...)
ABU DHABI: UAE'S Aabar Investments, which has stakes in Daimler and Virgin Galactic, on Sunday said it entered into a $800 million loan agreement with local and international lenders.
International Petroleum Investment Co (IPIC), wholly-owned by (...)