Abu Dhabi Commercial Bank (ADCB) released its 9M08 results posting net income of AED1.62 billion up 2.5% compared to AED1.58 billion recorded for 9M07. (Gulf News)

National Bank of Abu Dhabi disclosed its 9M08 results posting a net income figure of AED2521 million up 43.1% from AED1761 million in 9M07. (ADX)

Dubai Financial Market released its 9M08 results posting a net income figure of AED780.6 million down 9.1% from AED865.3 million in 9M07. (DFM)

First Gulf Bank released its 9M08 results posting a net income figure of AED2334 million up 68.3% from AED1387 million in 9M07. (ADX)

Waha Capital released its 9M08 results posting net income of AED107.1 million up 17.7% from a previous AED91.0 million in 9M07. (Gulf News)

Mazaya released its 9M08 results posting net income of AED720.9 up 2.5 folds from a previous AED286.1 million in 9M07. (DFM)

The UAE cabinet approved a 21% increase in the budget allocation for 2009 to reach AED42.4 billion with no deficit. (Khaleej Times)

Gulf Navigation is set to hold its BOD on October 28th to discuss 3Q08 results. (DFM)

Gulf Finance house is set to hold its BOD on October 23rd. (DFM)

Global is set to hold its BOD on October 27th to discuss 3Q08 results. (DFM)

Drake and Scull is expected to list its shares on the DFM by the end of November. The company is however waiting for ESCA to determine the exact date. (Zawya Dow Jones)

Sorouh Real Estate signed agreements with three financial institutions to help investors in The Gate Towers find conventional and Sharia-compliant mortgages. The agreements were signed with Aseel Finance, ADCB and RAK Bank. (Zawya Dow Jones)

Cayan Investments awarded Arabtec two contracts worth AED1.4 billion for the construction of Infinity and Silverene Towers. (Al Khaleej)

Abu Dhabi National Energy (Taqa) will hold its BOD meeting on October 29th and will release its 9M08 results on October 30th. (ADX)

Finance and Economy Ministers of GCC nations will hold a meeting on Saturday in Riyadh to discuss the repercussions of the global financial crisis on their economies and financial institutions. Secretary general of the GCC council said that the GCC countries are witnessing an accelerating economic growth that provides an adequate opportunities for foreign investments, adding that their economies doubled during the last five years and GDP exceeded USD750 billion last year. He stated that he will also meet the EU foreign policy chief on Wednesday to discuss the planned steps between GCC and the European Union to sign the long-awaited free trade agreement. (Zawya Dow Jones)

Aabar Investments announced it will inject AED9 billion for investment expansion purposes, adding that it has a strong liquidity position of about AED2.3 billion. (Al Khaleej)

Islamic Arab Insurance Company’s (Salama) BOD approved to buy back 10% of the company’s shares. (DFM)