Middle East Business News

'Fix It Or Exit': The Stark Situation Facing Lebanese Banks

If Lebanese banks fail to increase their capital by 20% by the end of February 2021 they have to exit the market, says C... Read more

Saudi Aramco Appoints CEO To Run $500m Investments Arm

Sources say Mahdi Aladel will take over as CEO of Saudi Aramco Energy Ventures Read more

Deflation Set To Linger Across Gulf Economies

Downswing in oil is another challenge for the region's $1.6trn economy, putting it on course for what could be its worst... Read more

Bank Of Bahrain And Kuwait And Ithmaar Holdings To Discuss Acquisition Plans

BBK is exploring the possibility of acquiring the Bahrain operations of Ithmaar Bank Read more

UAE's NMC Health Faces Advisory Fees Of $140m For Bankruptcy

NMC will raise as much as $300m from creditors to fund the business during its administration Read more

Alwaleed's Kingdom Holding Eyes Europe Over US For Deals

Saudi billionaire's investment firm sees Europe as a better place to invest due to inflated prices in the US Read more

Abu Dhabi Returns To Dollar Bond Market With Multi-tranche Deal

UAE capital is among the list of many selling bonds to bolster their finances in the face of lower oil and gas prices Read more

Strict New Rules Make Life Tough For Lebanese Retailers

Central bank imposes stricter requirements to open letters of credit to finance imports into the country Read more

Abu Dhabi Fund Said To Seek Resolution To Mumbai Airport Takeover Deal

Agreement between ADIA consortium and GVK Group's airport holding company has 'deal exclusivity' until January 31, 2021 Read more

Pandemic Causes Bahrain's GFH H1 Profits To Slide By Almost 58%

Profits fell from $48.43m last year to $20.39m as a result of Covid-19 and slower markets Read more

UAE's Mubadala Invests In US Pharma Business

Senior Mubadala exec says outsourced pharmaceutical services has been a key investment theme for the sovereign investor Read more

Bahrain's GFH Inks Deal To Hold Majority Share In Sharia Investment Firm

Global Banking Corporation offers a range of Sharia compliant investment banking services in Bahrain Read more

Bahrain's Ithmaar Holding Reveals 43% Drop In H1 Profits

Half yearly profits have fallen to $7.40m as a result of Covid-19 economic impact Read more

UAE's Waha Capital Eyes Latin America Tourism Boost After $50m Investment

CEO Amr Al Menhali says confident that investment will help put Waha on a firm footing post COVID-19 Read more

Banks Reduce Exposure To Dubai-based Oil Trader

BNP Paribas, Natixis and Middle Eastern lenders including Emirates NBD, Emirates Islamic Bank and National Bank of Fujai... Read more