The resilient solvency of UAE banks comes on the back of rapid economic growth in the country
Of the seven main Saudi banks to report so far, all have posted higher profits for the quarter
Housing program aims to raise percentage of homeownership to 60 percent by 2020 and to 70 percent by 2030
The facility was raised to meet SABIC's ongoing financial requirements
The bank, an affiliate of HSBC Holdings, said it made $188mln in the three months ending Dec. 31
Saudi Arabia detained dozens of top officials and businessmen last year
Russian pension funds were considering participation in the Saudi Aramco IPO
The pilot programme is the first of its kind to be launched by a central bank, allowing banks in Saudi Arabia to use Ripple's software to instantly settle payments
Insurance companies trade at higher PE multiples (avg. 2018E PE: 14.2x) than Saudi banks (avg. 10.8x).
Friedman praises 'rapid advancement' of Gulf's capital markets.