Dubai's Mashreq will allow foreigners to own up to 20 per cent of the bank's shares, it said in a bourse statement on Wednesday.
Foreign investors currently own only 1.9 per cent of the bank's shares, data from the Dub
Saudi Arabian officials are still discussing the opening of the stock market to direct foreign investment and no timetable has been set, the chief market regulator said.
"We are still discussing the issue.
Violence sweeping Egypt has hit its tourism - a vital part of the economy - as governments warn holidaymakers to stay away, prompting some foreign travel agents to stop all trips there.
The latest unrest looks likely to kill off a
Sri Lanka has decided to ban land sales to foreigners after finding that some offshore investors did not use land and property purchases to benefit the nation's economy, the government spokesman said on Thursday.
A draft of changes to UAE bankruptcy law aimed at simplifying the process and letting failing companies restructure is taking longer than expected and may not be ready until the end of 2013.
The draft, which has been in the works
Bahrain's expatriates have expressed frustration over new visa rules which have caused a crackdown on foreign visitors, leading to many being detained for several hours before being either allowed into the country or sent home on return flights.
Saudi Arabia's central bank will play a bigger role in the supervision of the country's financial sector as the kingdom weighs opening up its stock market to direct investments by foreigners.
The country's Capital Market Author
Saudi Arabia could shortly open its stock exchange to foreign investors, Deutsche Bank's head of Mena equities said, a move which would allow international capital to own shares outright on the Middle East's largest bourse for the first time.
Foreign landlords own more than 60 per cent of London's Bond Street and Oxford Street, having snapped up numerous stores in the past five years as investors sought safe havens for their cash, data from Savills showed.
The property cons