Signages of National Bank of Abu Dhabi and First Gulf Bank
©Reuters/Bloomberg

Abu Dhabi banks agree $29bn merger

Deal will create the Middle East’s biggest lender

Abu Dhabi to merge sovereign wealth funds

Ipic and Mubadala to combine in attempt to secure cost savings

America infuriates both Sunni and Shia

Saudi Arabia and Iran are convinced the US has tilted against them in the wake of nuclear deal

Moody’s downgrades Saudi credit rating

Agency puts long-term rating on par with Japan with stable outlook

Kingdom tower, Riyadh ID 48377664 © Swisshippo | Dreamstime.com
©Swisshippo/Dreamstime

Saudi reforms show serious intent

Reorganising government underlines the urgent need for change

Saudi Arabia replaces veteran oil minister

Khalid al-Falih to take over from Ali al-Naimi

Scepticism over Saudi sell-offs

Scope of transformation massive for cradle-to-grave society

Saudi Arabia pledges economic overhaul

Kingdom targets $2tn initial public offering of Saudi Aramco

IMF cuts Gulf GDP growth forecast to 1.8%

Oil-dependent region lowers spending to contain fiscal deficits

Strike forces Kuwait to cut oil output

Rare industrial action reduces production to 1.1m barrels a day

IMF agrees $2.8bn bailout for Tunisia

Loan comes amid growing influx of refugees and fall in oil prices

Islamic banks seek Mauritanian depositors

Many consumers are uncomfortable with western banking practices

Iraqi Kurds plead for financial help

Deputy PM warns that fight against Isis at risk without additional funds

Bank Hapoalim chair attacks salary cap plan

Seroussi warns of serious impact on Israeli economy

Saïd weighs legal action against Barclays

Syrian-born billionaire given three months to find another bank

Egypt devalues its currency by 13%

Stock market jumps on news of more flexible currency plan

Iran eyes ‘bad bank’ to mop up toxic loans

Recapitalising banks seen as key to post-sanctions growth

Oil rout and global volatility hurt Dubai

Tracker reveals first private sector contraction since 2009

Bahrain reopens cancelled bond sale

Gulf state struggles to repair confidence in lacklustre economy

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