Abu Dhabi Islamic Bank (ADIB) released its 9M08 posting a net income of AED736.7 million up 52.5% from AED 483.0 million in 9M07. (ADX) 

According to the International Monetary Fund's economic outlook for the region, UAE’s real GDP growth is projected to slow to 6% in 2009. The IMF is also expecting inflation in UAE to reach 12.9% in 2008, higher than the 11.1% in 2007, before easing to 10.8% in 2009. (Gulf News)

The new entity that will be formed from the expected merger of Amlak and Tamweel will have a limited banking license that will allow it to receive deposits from the public giving it the sufficient funds to expand its activities. (Emirates Business 24/7)

The central bank will pump in AED20-AED25 billion into local banks by the end of the week from the AED70 billion the authorities promised to infuse into the domestic banking sector last week. The injection will be in the form of two year deposits proportionate to each bank’s assets. Moreover, mortgage finance companies will receive part of this financing.  (Zawya Dow Jones & Al Khaleej)

JP Morgan increased its stake in Aabar Investments to 5.51% making it one of the major shareholders in the company. (Al Khaleej)

United Arab Bank disclosed its 9M08 results posting a net income figure of AED181.9 million up 20.5% from AED150.9 million in 9M07. (ADX)