Main headlines
June 13, 2013
Egypt's bourse tumbles to an 11-month low as investors fret about the possibility that it could eventually be excluded from the MSCI Emerging Market Index used by many international fund managers.
Abu Dhabi property firms Aldar Properties PJSC and Sorouh Real Estate said the two companies expect to close their state-backed merger by June 30, pending a ministerial resolution approving the deal.
The UAE on Wednesday announced a $150 million (Dh733.9 million) aid package to support developing countries’ participation at the Expo 2020, in addition to the $100 million Partnership Fund to support innovative ideas for creating opportunities, mobility and sustainability as part of Dubai’s Expo 2020 bid.
The GCC is on the threshold of a major power revolution, with investments in the sector estimated at $250 billion in the next five years, according to a new study.
Cannibalisation of tablet computers is again going to make a big dent in computer (portable and desktop) sales in the UAE in the second quarter.
Pakistan’s Finance Minister Ishaq Dar on Wednesday presented his government’s first budget for fiscal 2013-14 in the National Assembly with a record outlay of $200 billion.
June 12, 2013
Egypt trimmed the size of a treasury bond auction on Monday but its borrowing costs held broadly steady despite anxiety over the country's finances and a mass protest set for June 30.
Saudi Arabia's state airports operator has picked three banks to arrange the second tranche of its local Islamic bond programme, banking sources said on Tuesday, with a sale seen matching the firm's record-breaking $4 billion debut Sukuk in 2012.
Emirates NBD, Dubai's largest lender, has completed the acquisition of BNP Paribas' Egyptian assets after receiving regulatory approval in the North African country, the bank said in a statement on Tuesday.
Gulf Bank announced that Fitch Ratings has upgraded the bank's Viability Ratings to 'bb-' from 'b+'.
Swissquote Bank MEA LTD./SQM/ a Dubai-based bank and subsidiary of Swissquote Bank SA./SQB/, announced that it has been granted a category 4 license from the Dubai Financial Services Authority /DFSA/, and Swissquote Bank SA Central Bank Representative Office License.
Sudan's currency has fallen close to a record low against the dollar on the black market since Khartoum threatened to halt cross-border oil flows with South Sudan as import firms fear a dollar scarcity will worsen, dealers said.
The Ministry of Finance and the Central Bank of the UAE have announced today the signing of a Memorandum of Understanding (MoU) in implementation of a Council of Ministers resolution.
Annual inflation in Yemen surged to 14 percent in April, the highest level since February 2012, fuelled by rises in the prices of food, tobacco and qat, central bank data showed on Tuesday.
After recording a strong growth in first quarter net profit and net income, Emirates Islamic Bank is gearing up towards an aggressive push in the competitive retail
