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MEED
Victoria Robson

  • MEED Assessment: Solidere

    3 April 2012, 12:39 GMT

    The company recognises that it must expand out of its home territory to maintain profits and momentum

  • The Crown Prince: Why Bahrain needs economic reform

    16 December 2008, 0:00 GMT

    As protests for political change continue, Sheikh Salman al-Khalifa is proving to be the progressive face of the kingdom.

  • Business Close-up: Emirates NBD

    4 April 2008, 12:47 GMT

    The Dubai bank is looking beyond the UAE following the integration of its two founding institutions.

  • Ankara targets Gulf investors

    20 March 2008, 11:59 GMT

    Turkey is turning to the Gulf to boost its privatisation programme.

  • Riyadh puts the markets to work

    20 March 2008, 11:37 GMT

    By requiring major petrochemicals schemes to list 30 per cent of their shares on the Tadawul even before they are completed, the kingdom has found a unique way to raise project finance.

  • Q&A: Munib Masri, chairman, Padico

    18 March 2008, 13:02 GMT

    Our biggest problem is movement of goods and services between cities

  • Mohammed al-Mojil Group to offer shares to public

    11 March 2008, 14:10 GMT

    Saudi Arabian contractor Mohammed al-Mojil Group (MMG) will stage an initial public offering (IPO) of 30 per cent of its shares in May.

  • Shuaa wins approval to start Saudi Arabian operations

    11 March 2008, 13:52 GMT

    Dubai-based investment bank Shuaa Capital has received approval from the Capital Markets Authority to start operations in Saudi Arabia.

  • Venture Capital Bank signs deal with Lemissoler for shipping firm

    10 March 2008, 16:07 GMT

    Bahrain’s sharia-compliant Venture Capital Bank is partnering with Cyprus’ Lemissoler Shipping Group to launch a shipping company in the kingdom.

  • Emirates NBD signs financing agreement with Daman

    10 March 2008, 13:55 GMT

    Emirates NBD has signed a AED500m ($136m) structured debt financing agreement with local real estate developers Daman Real Estate Capital Partners.

  • Abu Dhabi listed companies give bonus shares

    10 March 2008, 6:13 GMT

    National Bank of Ras al-Khaimah will complete its 20 per cent bonus share issue on 17 March.

  • Three offerings hit Saudi exchange

    9 March 2008, 13:29 GMT

    Initial public offerings (IPOs) totalling SR640m ($171m) are under way in Saudi Arabia.

  • Kurds study potential of local bourse

    7 March 2008, 18:34 GMT

    The Kurdistan Regional Government (KRG) has launched a feasibility study into setting up a local bourse, which could act independently of Baghdad.

  • Companies put share offerings on hold in UAE

    7 March 2008, 18:07 GMT

    Firms delay stock market listings while legislation is drawn up allowing them to retain majority stakes.

  • The 100 biggest companies in the Middle East in 2008

    7 March 2008, 13:04 GMT

    Financial services firms make up 40 per cent of MEED’s list of the 100 largest listed companies, with real estate and telecoms businesses joint second.

  • MEED 100 Summary: Saudi firms maintain dominance in the region in 2008

    7 March 2008, 12:21 GMT

    Led by Saudi Basic Industries Corporation, companies based in the kingdom take eight of the top 20 spots in MEED’s inaugural ranking of the largest listed businesses.

  • Abraaj buys Pakistani refinery company

    6 March 2008, 8:47 GMT

    Dubai-based private equity firm Abraaj Capital will complete its acquisition of a 40 per cent stake in the Pakistan-based petrochemicals company Bosicor Group, following a mandatory tender offer for shares in Bosicor's refining arm.

  • Citadel to open offices in Libya, Syria and Sudan

    5 March 2008, 13:56 GMT

    Cairo-based private equity firm Citadel Capital is planning to open offices in Libya, Syria and Sudan in the next three years in order to pursue investment opportunities.

  • Amwal al-Khaleej to bring funds to $1bn

    5 March 2008, 13:52 GMT

    Riyadh-based private equity firm Amwal al-Khaleej is planning to launch its third fund, which will bring the total of its funds under management to $1bn.

  • Sorouh and Goodman to roll out business parks

    5 March 2008, 13:00 GMT

    Abu Dhabi-based Sorouh and Australia’s Goodman Group are to develop business and logistics parks across the Gulf with a view to establishing real estate funds to attract long-term investors in the region’s property market.

  • Dubai International Capital to launch Saudi Arabian fund

    3 March 2008, 14:34 GMT

    Dubai International Capital (DIC), the investment arm of the Dubai government, is launching a $500m private equity fund targeting Saudi Arabia.

  • Huge investor demand for Ajman Bank offering

    3 March 2008, 14:30 GMT

    The AED550m ($150m) initial public offering (IPO) of shares in the newly established Ajman Bank was oversubscribed by more than 85 times.

  • Al-Qudra postpones share offering

    2 March 2008, 12:04 GMT

    Abu Dhabi conglomerate Al-Qudra Holding has postponed its AED3.7bn ($1bn) initial public offering (IPO) of 25 per cent of its shares planned for early March.

  • Islamic Brokerage to launch on Doha bourse

    2 March 2008, 12:00 GMT

    Islamic Brokerage will list on the Doha Securities Market on 3 March.

  • Sharia-compliant banking to grow with launch of Al-Umah

    29 February 2008, 17:36 GMT

    Number of Islamic institutions in the Emirates to almost double this year.

  • Ankara targets Gulf investors to speed up privatisation plan

    29 February 2008, 16:53 GMT

    Turkish economy minister invites interest from public and private sectors.

  • Qatar National Bank expands into North Africa

    27 February 2008, 14:23 GMT

    Qatar National Bank (QNB) is acquiring a 50 per cent stake in Tunis-based Tunisian-Qatari Bank.

  • Islamic Development Bank to issue $650m worth of sukuk

    27 February 2008, 13:30 GMT

    The Islamic Development Bank (IDB) will launch two sukuk by the end of the first half of the year.

  • Ajman Bank seeks 5 per cent of UAE banking market

    26 February 2008, 14:11 GMT

    The latest sharia compliant bank to be set up in the UAE, Ajman Bank, is targeting a 5 per cent share of the banking market.

  • Arcapita buys US storage company

    26 February 2008, 9:38 GMT

    Bahrain-based private equity company Arcapita led a consortium of investors that has acquired US storage and removal company Pods for $451m.

  • Dubai encourages securitisation deals

    25 February 2008, 13:00 GMT

    The Dubai International Financial Centre (DIFC) is preparing regulations to govern securitisation deals in a bid to attract more financial firms.

  • Insurance company comes to market with $21m offering

    25 February 2008, 12:53 GMT

    United Co-operative Assurance Company (UCA) will stage a SR80m ($21m) public offering of shares on 8 March.

  • Amlak applies for Bahrain licence

    24 February 2008, 13:31 GMT

    UAE sharia-compliant mortgage company Amlak Finance has applied to the Central Bank of Bahrain for a licence.

  • Dana Gas and Ikarus to go downstream

    24 February 2008, 13:26 GMT

    The UAE’s Dana Gas plans to partner with Kuwait’s Ikarus Petroleum Industries to develop downstream petrochemical projects.

  • Tethys will be first oil firm to list on Dubai International Financial Exchange

    22 February 2008, 16:54 GMT

    The first oil company to list on a Dubai exchange should make its debut by the end of April, when Sweden’s Tethys Oil is expected to stage a secondary listing on the Dubai International Financial Exchange (DIFX).

  • Riyadh to bring bourse into line with international rivals

    22 February 2008, 16:42 GMT

    Capital Market Authority plans to overhaul stock market share pricing.

  • Reform must happen quickly in Bahrain

    22 February 2008, 15:06 GMT

    Manama needs to streamline its decision-making process to ensure the crown prince can deliver reform.

  • The Crown Prince: Why Bahrain needs economic reform

    22 February 2008, 14:33 GMT

    As protests for political change continue, Sheikh Salman al-Khalifa is proving to be the progressive face of the kingdom.

  • Bahrain central bank launches sukuk

    20 February 2008, 14:36 GMT

    The Central Bank of Bahrain (CBB) has started the roadshow for its latest sukuk issue

  • Qatar Petroleum subsidiary to stage offering

    20 February 2008, 10:26 GMT

    The first initial public offering (IPO) of shares in Qatar this year will be a QR1.8bn ($495m) sale of 66 per cent of shares in Qatar Petroleum (QP) holding company Gulf International Services (GIS).

  • Morgan Stanley devises new products for Saudi Arabian exchange

    19 February 2008, 12:17 GMT

    Morgan Stanley Saudi Arabia is building up its sales and trading business in the kingdom to offer fixed income products and exchange traded funds (ETFs) to local and international investors.

  • Waha Capital turns attention to real estate

    19 February 2008, 12:13 GMT

    Abu Dhabi-based Waha Capital will invest AED15m ($4bn) in real estate projects in Abu Dhabi, including warehousing, labour camps and middle-income housing.

  • Solidere: MEED Assessment

    Issue No 07 15 - 21 February 2008

    The company recognises that it must expand out of its home territory

  • Abu Dhabi Securities Market seeks Pakistani listings

    18 February 2008, 13:33 GMT

    The Abu Dhabi Securities Market (ADSM) and the Karachi Stock Exchange (KSE) have signed a memorandum of understanding to encourage cross listings on both exchanges.

  • NanoDynamics delists from Dubai stock exchange

    18 February 2008, 13:28 GMT

    Shares in US clean technology company NanoDynamics have delisted from the Dubai International Financial Exchange (DIFX), just a day after they made their debut.

  • Bahrain's Economic Development Board expands

    17 February 2008, 11:55 GMT

    Bahrain’s Economic Development Board has expanded its board from six cabinet ministers to 16 in a move widely seen as an attempt by its chairman, Crown Prince Salman bin Hamad al-Khalifa, to grasp a firmer control over economic policy.

  • Kipco posts record profits

    17 February 2008, 11:50 GMT

    Kuwait Projects Company (Kipco) has reported a net profit of $1.9bn in 2007, its highest ever earnings and the most for a Kuwaiti listed company.

  • Solidere

    15 February 2008, 15:37 GMT

    Launched in 1994 to reconstruct central Beirut, the Lebanese developer is now expanding internationally

  • Iran privatisation plan is flawed

    15 February 2008, 14:45 GMT

    Iranian investors sorely lack cash, and do not have the means to buy all the shares promised.

  • Qatar sells stake in Nordic stock exchange

    14 February 2008, 9:52 GMT

    Qatar Investment Authority has sold its 9.9 per cent stake in Nordic exchange OMX.

  • Qatar National Bank to raise $715m in rights issue

    14 February 2008, 9:46 GMT

    Qatar National Bank (QNB) will offer 22 million shares in a 10 per cent rights issue in early April.

  • Emirates NBD reports minimal exposure to sub-prime debt

    13 February 2008, 7:36 GMT

    Emirates NBD, the GCC’s largest bank by assets, estimates its exposure to sub-prime related losses amount to just $15m.

  • Dubai International Capital targets US investments

    13 February 2008, 7:17 GMT

    Dubai International Capital (DIC), the private equity arm of Dubai Holding, plans to open an office in New York in the next 18-24 months.

  • Abyaar to list on Dubai bourse

    12 February 2008, 8:25 GMT

    Kuwait’s Abyaar Real Estate Development Company will sell 10 per cent of its shares to GCC investors if its board approves the move at its annual general meeting in March.

  • Ajman Bank appoints Khalaf as chief executive ahead of launch

    12 February 2008, 8:22 GMT

    Yousif Khalaf has been named as chief executive officer of Ajman Bank, which is currently being set up.

  • Borse Dubai offer for Nordic markets to close

    11 February 2008, 10:11 GMT

    Borse Dubai’s offer for Scandinavian stock exchange group OMX will close on 12 February.

  • Dubai Group sets up Indian investment office

    11 February 2008, 9:59 GMT

    Dubai Ventures, a subsidiary of Dubai Group, will open an office in Mumbai by the end of the first quarter.

  • Bahraini crown prince boosts control over reform

    8 February 2008, 18:04 GMT

    Economic Development Board expands membership and remit in a bid to beat bureaucratic delays

  • Gulf stock markets to benefit from series of local listings

    8 February 2008, 17:58 GMT

    An Ajman-based Islamic bank is to stage an initial public offering (IPO) of shares in mid-February, as stock market activity continues to be strong across the Gulf.

  • Volume of sukuk issues slows as value rises

    6 February 2008, 18:01 GMT

    The pace of growth in global sukuk issues slowed dramatically in 2007, according to a new report.

  • SkyBridge Capital to launch $500m fund

    6 February 2008, 17:56 GMT

    US hedge fund company SkyBridge Capital is seeking the backing of two Gulf sovereign wealth funds, the Abu Dhabi Investment Authority and Qatar Investment Authority, for the launch of a $500m fund.

  • Bahrain fund buys into Turkish airline

    5 February 2008, 10:43 GMT

    Bahrain-based Manara Investments has acquired a 21 per cent stake in Turkish cargo carrier ACT Airlines.

  • Economic Development Board to measure wealth distribution

    5 February 2008, 10:38 GMT

    Bahrain’s Economic Development Board (EDB) is devising economic performance indicators to track the impact of its policies and the distribution of wealth in the country.

  • NanoDynamics to list on Dubai bourse by mid-February

    4 February 2008, 18:09 GMT

    US technology firm NanoDynamics plans to list shares on the Dubai International Financial Exchange (DIFX) in the second week of February.

  • International Finance Corporation extends help to Palestinians

    4 February 2008, 17:44 GMT

    The International Finance Corporation (IFC), the private sector arm of the World Bank, hopes to sign three agreements during a visit by its chief executive officer Lars Thunell to the West Bank in early February.

  • Benchmark index boosts Dubai International Financial Exchange

    1 February 2008, 16:56 GMT

    A new benchmark index being developed for the Dubai International Financial Exchange (DIFX) could boost its recently launched structured product platform, DIFX Trax.

  • Taqa makes billion dirham profit

    31 January 2008, 13:12 GMT

    Abu Dhabi National Energy Company (Taqa) has announced preliminary profits of AED1bn ($272m) for 2007, double the figure for the previous year.

  • Doha Bank to expand into Yemen through joint venture

    31 January 2008, 12:35 GMT

    Doha Bank is partnering with Yemen’s Cooperative & Credit Agricultural Bank (CCAB) to expand its operations into the state.

  • PetroRabigh doubles its share price in debut week on the market

    30 January 2008, 16:04 GMT

    Shares in Rabigh Refining & Petrochemical Company (PetroRabigh) closed their first week of trading on the Tadawul at more than double their sale price.

  • NCB Capital buys into Dubai private equity firm

    29 January 2008, 10:35 GMT

    NCB Capital, the investment subsidiary of Saudi Arabia’s National Commercial Bank (NCB), has bought a stake in Dubai-based private equity firm HBG Holdings.

  • Arcapita buys US power plant

    29 January 2008, 10:25 GMT

    Bahrain-based investment firm Arcapita has bought a US power plant in a $695m deal.

  • Second US company plans Dubai listing

    27 January 2008, 14:06 GMT

    Global Food Holdings plans to list on the Dubai International Financial Exchange (DIFX). The company would be the second US firm and second food company to list on the bourse.

  • Volatility offers lesson for Sabic

    25 January 2008, 17:44 GMT

    Despite the bar on international investors, neither Sabic nor the Tadawul are immune to moves in global capital markets.

  • Volatility offers lesson for Sabic

    25 January 2008, 17:17 GMT

    Saudi Basic Industries Corporation (Sabic), the largest listed company in Saudi Arabia, is suffering. Even record profits of $7.2bn in 2007 could not match analysts’ expectations. Since the results were released on 19 January, the Sabic share price has fallen by 26 per cent.

  • Volatility spreads to regional bourses

    25 January 2008, 15:30 GMT

    Steep falls on Middle East exchanges reveal increasing correlation with international stock markets

  • Unemployment undermines Bahraini success

    25 January 2008, 12:09 GMT

    Bahrain’s economy is thriving, but the government must speed up reform and address unemployment and inflation if it is to stem growing unrest among the local population.

  • Pressure to end wealth disparity between Bahrain's Shias and Sunnis

    25 January 2008, 12:03 GMT

    A cold wind blows across the sea and buffets the awnings of a construction site along King Faisal highway. Few Manama residents are outside as the temperature drops to 13oC. The city is quiet again following the clamour and congestion that accompanied US President George Bush’s one-day visit to the kingdom on 12 January.

  • Swiss private bank to expand regional team

    24 January 2008, 14:22 GMT

    Swiss private bank Mirabaud plans to more than double the size of its asset management team in the Dubai International Financial Centre by June.

  • Nakheel increases stake in Australian partner

    24 January 2008, 14:18 GMT

    Dubai-developer Nakheel has doubled its stake in Australian real estate company Mirvac to 12.5 per cent.

  • National Bank of Kuwait posts record profits

    23 January 2008, 14:01 GMT

    Kuwait’s largest bank, National Bank of Kuwait, has reported record profits of more than $1bn for 2007.

  • National Bank of Kuwait posts record profits

    23 January 2008, 13:59 GMT

    Kuwait’s largest bank, National Bank of Kuwait reported record profits of more than $1bn for 2007.

  • Emaar The Economic City appoints chief executive

    23 January 2008, 13:27 GMT

    Emaar The Economic City, the firm developing King Abdullah Economic City in Saudi Arabia, has appointed Fahd al-Rasheed as its new chief executive officer.

  • Arqaam to launch asset management arm

    22 January 2008, 13:19 GMT

    Dubai-based Arqaam Capital plans to launch an asset management division by the end of the first quarter of 2008.

  • Arabian Cement raises expansion capital

    22 January 2008, 13:14 GMT

    Saudi Arabia’s Arabian Cement has raised SR500m ($134m) through a rights issue and bonus shares to bring its paid-up capital to SR800m.

  • US firm to price shares ahead of Dubai listing

    21 January 2008, 13:56 GMT

    NanoDynamics, the first US company to have a primary listing on the Dubai International Financial Exchange (DIFX), will finalise the pricing of its shares by 26 January.

  • Nakheel lists second Islamic bond

    21 January 2008, 13:49 GMT

    Dubai-based property developer Nakheel has listed a second convertible sukuk on the Dubai International Financial Exchange.

  • Taqa appoints senior management following acquisition

    20 January 2008, 13:57 GMT

    Abu Dhabi Energy Company (Taqa) has appointed Doug Fraser as its new chief financial officer.

  • Jasper Capital expands

    20 January 2008, 13:53 GMT

    Dubai-based Jasper Capital is expanding its network of offices and plans to set up in Qatar by the end of the first quarter.

  • Women can be a financial force

    18 January 2008, 17:32 GMT

    Finally, it seems that women and their wealth are being taken seriously by the region’s banks and governments.

  • Padico

    18 January 2008, 17:10 GMT

    Padico chairman Munib Masri is optimistic that the Palestinian investment environment will improve

  • Women's wealth: The $350bn Gulf opportunity

    18 January 2008, 16:19 GMT

    High net worth women in the Middle East are increasingly being targeted by financial institutions eager to capture a share of this largely untapped market.

  • Padico: MEED Assessment

    18 January 2008, 12:59 GMT

    Padico, like other private sector firms, is struggling to invest

  • Al-Jazeera Islamic Company brings in new shareholders

    17 January 2008, 12:10 GMT

    Qatar National Bank, Qatar Insurance Company and Kuwait’s Global Investment House are among eight new investors that have joined Qatar Islamic Bank (QIB) and the Awkaf ministry as shareholders in Al-Jazeera Islamic Company.

  • Hikma Pharmaceuticals raises capital

    17 January 2008, 12:01 GMT

    Hikma Pharmaceuticals has sold 17 million new shares to institutional investors, raising£81.6m ($161m) for the firm.

  • Emaar profit growth slows

    16 January 2008, 14:05 GMT

    Dubai-based developer Emaar Properties has reported a significant slowdown in profit growth in 2007.

  • NBK Capital expands into Egypt

    16 January 2008, 13:55 GMT

    The investment banking arm of National Bank of Kuwait (NBK), NBK Capital, plans to open an office in Cairo in 2008.

  • Interview with Sheikha Lubna al-Qasimi, UAE Economy Minister

    11 January 2008, 17:34 GMT

    Tackling inflation, freeing up trade and reducing unemployment are priorities for the UAE’s economy minister.

  • Banque de la Bekaa eyes local acquisition

    10 January 2008, 14:16 GMT

    Lebanon’s Banque de la Bekaa is to buy the retail banking business of Banque Nationale de Paris Intercontinental in Lebanon.

  • Aabar completes sale of drilling services firm

    9 January 2008, 8:14 GMT

    Abu Dhabi-based exploration and development company Aabar Petroleum Investments Company has completed the $446m sale of its drilling services company Dalma Energy.

  • Banque de la Bekaa eyes local acquisition

    9 January 2008, 8:10 GMT

    Lebanon’s Banque de la Bekaa intends to purchase the general banking business of Banque Nationale de Paris Intercontinental in Lebanon.

  • Etisalat doubles stake in Sudanese telecoms firm

    8 January 2008, 10:19 GMT

    Etisalat has almost doubled its stake in Sudanese fixed line operator Canar Telecommunications (Canartel).

  • Strong retail demand for PetroRabigh shares

    8 January 2008, 10:15 GMT

    Strong retail demand for PetroRabigh’s $1.2bn initial public offering (IPO) could result in a reduced allocation of shares to institutional investors.

  • Aldar raises capital

    7 January 2008, 14:04 GMT

    Abu Dhabi-based developer Aldar Properties has raised its capital to AED 2.2bn ($592m), following the conversion of its Islamic bond into 76.5 million new shares.

  • Abu Dhabi and Paris sign museam deal

    7 January 2008, 13:59 GMT

    The Abu Dhabi government has signed an agreement with Paris on the operating framework for the Louvre Abu Dhabi museum, with the appointment of an engineering consultant due to follow soon.

  • Al-Mal Capital gets into private equity

    6 January 2008, 9:59 GMT

    Dubai-based investment bank Al-Mal Capital has launched two funds totalling AED350m ($95m) under its new private equity programme.

  • Standard & Poor’s places Sabic subsidiary on credit watch

    6 January 2008, 9:54 GMT

    Standard & Poor’s (S&P) ratings agency has placed US-based Sabic Innovative Plastics Holdings on a credit watch with “negative implications”.

  • Sector outlook 2008: Capital Markets

    4 January 2008, 17:53 GMT

    As Saudi Arabia's Tadawul begins to recovery, plans to reformulate the market and introduce new products such as exchange-traded funds, and the increasing sophistication of market players, will help to modernise the region's largest stock exchange.

  • Market makes common sense

    4 January 2008, 16:30 GMT

    A single currency in the Gulf is widely seen as the lynchpin to GCC economic integration. But it is a red herring.

  • Borse Dubai closes in on global network with Nasdaq

    4 January 2008, 15:57 GMT

    Borse Dubai expects to complete a series of deals with Nasdaq by the end of the first quarter to establish a network of stock exchanges stretching from the US to Dubai and Europe.

  • Fresh trade talks to pave way for broader agreement with US

    4 January 2008, 15:35 GMT

    The UAE is to hold trade talks with the US in January, despite the postponement of long-running negotiations over a wider free-trade agreement.

  • Fresh US trade talks to pave way for broader agreement

    4 January 2008, 15:00 GMT

    The UAE is to hold trade talks with the US in January, despite the postponement of long-running negotiations over a wider free-trade agreement.

  • Abraaj Capital to launch fund investing in listed companies

    4 January 2008, 14:14 GMT

    Dubai-based private equity firm Abraaj Capital is preparing to launch its third fund to invest primarily in publicly listed companies in the Middle East and South Asia.

  • GCC common market to offer arbitration

    4 January 2008, 12:38 GMT

    The GCC secretariat launched its common market policy on 1 January, and quickly followed it with plans for a judicial tribunal to arbitrate on disputes between members.

  • Cairo moves ahead with introduction of exchange traded funds

    3 January 2008, 12:27 GMT

    The Cairo & Alexandria Stock Exchanges (Case) will be among the first stock markets in the region to introduce exchange traded funds (ETF), with the first issuer due to be selected in the coming weeks.

  • Savola raises stake in Egyptian plastics company

    3 January 2008, 12:24 GMT

    Saudi Arabia's largest food conglomerate Savola Group has invested a further SR51.7m ($13.8m) in Egypt’s New Marina for Plastics Industries, taking its stake to 95 per cent.

  • Borse Dubai gets US approval for Nasdaq deal

    2 January 2008, 14:29 GMT

    Borse Dubai has received regulatory approval from the US Committee on Foreign Investment to proceed with its investment in rival stock market, the New York-based Nasdaq.

  • Trio launch Gulf real estate venture

    2 January 2008, 14:26 GMT

    A QR1bn ($274m) real estate company is being launched in a three-way venture between Industries Qatar, Qatar Real Estate Company and Kuwait’s Al-Koot Insurance & Reinsurance Company.

  • Saudi public offerings to raise more than $1bn in January

    31 December 2007, 11:53 GMT

    Local companies will raise more than SR5bn ($1.3bn) through initial public offerings (IPOs) in the kingdom in the first half of January.

  • Sabic raises capital

    31 December 2007, 11:49 GMT

    Saudi Basic Industries Corporation (Sabic) plans to increase its capital by 20 per cent to SR30bn ($8bn).

  • Kuwait passes new income tax law

    30 December 2007, 10:56 GMT

    Kuwait’s parliament, the national assembly, has approved changes to the tax code that will include a significant reduction in income tax from 55 per cent to 15 per cent.

  • Economy Ministry streamlines to focus on policy making

    27 December 2007, 9:14 GMT

    The UAE ministry of economy is spinning off its statistics department into a separate bureau as part of Economy Minister Sheikha Lubna al-Qasimi’s plans to streamline the ministry.

  • Istithmar cashes out of New York property

    27 December 2007, 9:10 GMT

    Dubai-government investment company Istithmar has sold $2.5bn of property in New York in the past two months.

  • Bahrain's Unicorn buys into US technology firm

    23 December 2007, 8:27 GMT

    Bahrain-based Unicorn Investment Bank has invested $190m to acquire a 75 per cent stake in the US’s Open-Silicon.

  • Nakheel buys stake in Australian real estate company

    23 December 2007, 8:22 GMT

    Dubai-based developer Nakheel has bought a 6.5 per cent stake in Australian real estate group Mirvac.

  • Hawala: Trading on trust

    21 December 2007, 11:21 GMT

    Despite continued innovation in products and services in the UAE banking sector, an ancient financial practice is growing in popularity.

  • International banks: Building a global reputation

    21 December 2007, 11:20 GMT

    GCC markets are becoming increasingly sophisticated as regional investors make more high-profile foreign acquisitions and international banks target the region.

  • Injazat Capital targets family businesses with $250m fund

    21 December 2007, 10:46 GMT

    Sharia-compliant investment bank Injazat Capital is to target underperforming family businesses with a $250m investment fund. It is one of two funds it plans to launch in the first quarter of 2008, and comes as the region’s private equity industry shows increasing signs of maturity.

  • Bridge Partners to target high net worth women

    18 December 2007, 7:22 GMT

    Dubai-based Bridge Partners has applied to the Central Bank ofBahrainfor a licence to establish an investment banking firm in the kingdom.

  • Barwa Real Estate sets up UK investment company

    17 December 2007, 15:35 GMT

  • Saudi Arabian Airlines delays sale of cargo division

    17 December 2007, 15:26 GMT

    Saudi Arabian Airlines has delayed the auction of its cargo division.

  • Arcapita and Qatari Diar launch infrastructure company

    16 December 2007, 12:37 GMT

    Bahrain’s Arcapita Bank has signed an agreement with Qatari Diar Real Estate Investment Company to launch a utilities and infrastructure services company.

  • Emirates Bank retail banking head leaves for National Bank of Kuwait

    16 December 2007, 12:32 GMT

    Louis Scotto will leave his post as general manager of retail banking at Emirates Bank International at the end of the year.

  • Feminine touch boosts economy

    14 December 2007, 16:19 GMT

    If women take the chance to enter commerce they could shape the regional economic landscape

  • PetroRabigh share price to be revealed by end of year

    14 December 2007, 13:49 GMT

    The pricing of shares in Rabigh Refining & Petrochemical Company (PetroRabigh) is expected to be announced by the end of 2007, although uncertainty remains over whether the shares will be priced at a par value of SR10 ($2.68). Toshiki Matsumura, chief financial officer of PetroRabigh, declined to comment on pricing. “The nominal price is SR10 but we have not announced the subscription price yet,” he says.

  • Abu Dhabi Securities Market seeks Taiwanese companies and investors

    13 December 2007, 17:29 GMT

    The Abu Dhabi Securities Market (ADSM) is encouraging Taiwanese companies to list on the exchange.

  • Dubai International Financial Centre issues hedge fund code

    12 December 2007, 15:56 GMT

    The Dubai International Financial Centre (DIFC) regulator, the Dubai Financial Services Authority (DFSA) has issued a code of practice for hedge funds.

  • Tadawul continues to rise

    12 December 2007, 15:51 GMT

    The Tadawul All Share Index (TASI) sustained its climb above 10,000 points for the fourth day on 12 December to close at 11,002.

  • Arcapita buys Varel International for $400m

    11 December 2007, 9:32 GMT

    Bahrain-based private equity firm Arcapita has acquired US drill bit manufacturer Varel International for $401m taking its investments in the in the past two months to $1.4bn.

  • Royal Jordanian valued at $367m

    11 December 2007, 9:12 GMT

    Royal Jordanian Airlines’ initial public offering (IPO) raised JD 164.5m ($232m) for 71 per cent of the company, the equivalent of 22 million shares.

  • Gulf women increase investments

    10 December 2007, 14:38 GMT

    Women are becoming proactive investors and are making a greater contribution to the economy, according to Sheikha Lubna al-Qasimi, Minister of the Economy for the UAE.

  • London Stock Exchange lists sharia funds

    10 December 2007, 14:31 GMT

    The London Stock Exchange will list its first sharia-compliant exchange traded funds (ETFs) on its main market on 10 December.

  • Manama fights to regain status

    10 December 2007, 12:05 GMT

    With its oil reserves running out, Bahrain is focusing on developing its financial services industry in an attempt to regain its position as the region's pre-eminent financial centre.

  • Cable Company shares soar on listing

    9 December 2007, 8:01 GMT

    Shares in Middle East Specialised Cable Company (MESC) reached a high of SR99.5 ($26.5), almost 10 times its listing price, on its first day of trading on the Tadawul on 8 December.

  • ArtParis-Abu Dhabi sees strong sales

    9 December 2007, 7:19 GMT

    About AED60m ($16m) of art work was sold during the debut ArtParis-Abu Dhabi art fair held in the capital at the end of November.

  • Kingdom Hotel Investments

    7 December 2007, 17:22 GMT

    Following a series of major acquisitions, Kingdom Hotel Investments (KHI), a subsidiary of Prince Alwaleed bin Talal al-Saud’s Kingdom Holding Company, plans to focus on developing its assets

  • Nakheel to launch infrastructure trust

    7 December 2007, 15:23 GMT

    Local developer Nakheel plans to launch a listed infrastructure trust, one of the first in the region, that may include roads and utilities on Nakheel's Palm Jumeirah project.

  • Hedge funds target Dubai International Financial Centre

    7 December 2007, 14:54 GMT

    Hedge funds dominate applications from asset management companies to join the Dubai International Financial Centre (DIFC).

  • Kuwaiti government bails out nationals in debt

    7 December 2007, 13:57 GMT

    The government is setting up a KD 300m ($1bn) fund to help insolvent Kuwaitis.

  • Q&A: Sarmad Zok, CEO, Kingdom Hotel Investments

    7 December 2007, 12:23 GMT

    We want to have as diversified a portfolio as possible

  • Kingdom Hotel Investments: MEED Assessment

    7 December 2007, 12:12 GMT

    The firm’s association with Prince Alwaleed gives give it political clout and may help it to enter new markets

  • Kuwait bails out nationals in debt

    6 December 2007, 10:27 GMT

    The government is setting up a KD 300m ($1bn) fund to help insolvent Kuwaitis.

  • Dubai International Financial Centre regulator to review rule book

    6 December 2007, 10:21 GMT

    The Dubai International Financial Centre (DIFC) regulator the Dubai Financial Services Authority (DFSA) will conduct a complete review of its rule book starting at the beginning of 2008.

  • Gulf stock markets continue to rally

    5 December 2007, 19:10 GMT

    The Muscat Securities Market (MSM) MSM 30 index reached an all time high on 5 December closing at 8,709 points. The MSM 30 index leads other GCC market indices and was up 56 per cent since the beginning of the year. All GCC markets are on an upward trend confirming the end of a region-wide correction.

  • Dubai Islamic Bank seeks to increase female customers

    5 December 2007, 15:22 GMT

    Dubai Islamic Bank (DIB) has relaunched its women only Johara banking brand as part of its plans to boost its female customer base.

  • Nakheel issues second sukuk

    4 December 2007, 14:10 GMT

    Local real estate developer Nakheel is issuing its second sukuk - a convertible $750m Islamic bond - which will close to subscribers in January.

  • European Investment Bank funds Transmed pipeline

    4 December 2007, 12:45 GMT

    The European Investment Bank is lending Eur 185m ($272m) to fund the expansion of the Transmed pipeline.

  • The Investment Dar looks for expansion funds

    3 December 2007, 17:00 GMT

    Kuwaiti Islamic investment bank The Investment Dar is to launch a $300m syndicated sharia-compliant facility.

  • First Gulf Bank to boost project finance activities

    3 December 2007, 16:57 GMT

    Abu Dhabi-based First Gulf Bank has signed a $825m syndicated loan to help fund the expansion of its project finance activities.

  • Adia pursues high-profile investments

    3 December 2007, 14:38 GMT

    The Abu Dhabi Investment Authority (Adia) is expected to take a higher-profile approach to international investments in the future, following an unexpected move to invest in US banking giant Citigroup in late November.

  • Citigroup rescue heralds a new era

    30 November 2007, 17:02 GMT

    The Abu Dhabi Investment Authority (Adia) has taken full advantage of the turmoil in the credit markets. For the authority and other Gulf investors, it is period of golden opportunities, but they would be unwise to think such deals can or should be the start of a long-term trend.

  • Manama blames speculation on banks

    30 November 2007, 14:18 GMT

    The governor of the Central Bank of Bahrain has accused investment banks of “unethical behaviour”, by selling investment products with returns based on a revaluation of Gulf currencies. He also accuses them of using their research departments to increase speculation that a revaluation is imminent.

  • Citigroup to double Dubai investment banking presence

    29 November 2007, 0:00 GMT

    Citigroup plans to double its investment banking team in the Dubai International Financial Centre (DIFC) in the next 12 months.

  • Jordanian real estate offering soars

    29 November 2007, 0:00 GMT

    The initial public offering (IPO) of shares in Jordan’s Damac Real Estate Development company has closed 72 times oversubscribed.

  • Oasis and Blenheim launch finance company

    28 November 2007, 0:00 GMT

    Abu Dhabi’s Oasis International Leasing Company is partnering with the UK’s Blenheim Capital Partners to establish Al-Waha Financial Services.

  • Talat Mostafa shares soar on Cairo listing

    28 November 2007, 0:00 GMT

    Talat Mostafa Group shares closed at E£13.68 ($2.47) up 24 per cent from their listing price when they debuted on the Cairo & Alexandria Stock Exchanges on 28 November.

  • Abu Dhabi buys into Citigroup

    27 November 2007, 0:00 GMT

    Abu Dhabi Investment Authority (ADIA) has invested $7.5bn in Citigroup.

  • Dubai acquires stake in Sony

    27 November 2007, 0:00 GMT

    Dubai International Capital (DIC) has made its first investment in Japan, buying a “substantial” stake in Sony Corporation.

  • Singapore seeks UAE banks

    26 November 2007, 0:00 GMT

    The Singapore government is encouraging UAE banks to set up in the southeast Asian city state, as it looks to develop its Islamic banking sector.

  • Strong demand pushes DP World shares higher

    26 November 2007, 0:00 GMT

    The Dubai International Financial Exchange (DIFX) is targeting more exclusive listings from regional companies, following the successful listing of port operator DP World on 26 November.

  • Nasdaq and OMX companies encouraged to list on DIFX

    24 November 2007, 0:00 GMT

    Companies trading shares on the US' Nasdaq and Nordic stock exchange OMX will be encouraged to also list their shares on the Dubai International Financial Exchange (DIFX), says Per Larsson, chief executive officer of Borse Dubai.

  • Private equity companies to attract $27bn in investment

    24 November 2007, 0:00 GMT

    Private equity firms across the region are expecting to raise $27bn this year, says Sameer al-Ansari, chief executive officer (CEO) of Dubai International Capital (DIC). The figure is double the total raised in 2006.

  • Royal Jordanian looks for international investors

    24 November 2007, 0:00 GMT

    The offering of shares in Royal Jordanian are predicted to gain significant interest from international investors, according to analysts.

  • Barwa ups capital

    21 November 2007, 0:00 GMT

    Barwa Real Estate Company is increasing its capital by 25 per cent through a rights issue.

  • Investors swamp DP World offering

    21 November 2007, 0:00 GMT

    Demand for shares in the initial public offering (IPO) of DP World soared to $74.4bn by the time it closed - making it more than 15 times oversubscribed.

  • Dubai buys stake in EFG-Hermes

    18 November 2007, 0:00 GMT

    Dubai Financial Group is acquiring a 25 per cent stake in Egyptian investment bank EFG-Hermes for $1.1bn.

  • Gulf groups vie for control of OMX

    18 November 2007, 0:00 GMT

    The Swedish financial regulator will make a decision in early December on Qatar Investment Authority’s application to buy part of the Nordic stock exchange operator OMX.

  • UAE federation launches first sovereign wealth fund

    16 November 2007, 17:45 GMT

    Investment Authority's profits will be reinvested in the federal budget.

  • Market integration off the agenda

    16 November 2007, 16:59 GMT

    Stock exchanges around the world are looking to their neighbours for merger opportunities. But in the Gulf, a single, merged GCC market is increasingly unlikely.

  • Close-up on Nakheel

    16 November 2007, 15:27 GMT

    Nakheel, which literally translated from Arabic means ‘the palms’, is a government-owned property developer and one of the Dubai World group of companies. It was launched in 2003 to take over the development of the offshore Palm island projects and has 16 schemes in its portfolio.

  • Interview with Nakheel's CEO, Chris O'Donnell

    16 November 2007, 14:48 GMT

    Chris O'Donnell, chief executive officer of Nakheel, joined the company in June 2006 from the Investa Property Group in his native Australia.As Investa's managing director, he grew the firm from an $Aus800m ($704m) business in 2001 to an $Aus 6.2bn business in 2006. During this time he led the firm through a number of key deals including a hostile takeover of Principal Office Fund worth $Aus 1.9bn in 2003 and the acquisition of Clarendon Property Group for $Aus 645m in 2005.

  • Funding the future

    15 November 2007, 0:00 GMT

    Kuwait scored a rare success over its Gulf rivals in late October when it was ranked above all other countries in the region for the competitiveness of its economy. More than anything else, it is the way the country has used its oil revenues that has led to its high ranking.

  • Yasser Arafat Airport: Grounded in Gaza

    23 December 2005, 11:50 GMT

    Closed since 2001, Yasser Arafat Airport could soon be Gaza's link with the rest of the world.

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