Wednesday 22 October 2014
 
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Dubai fund DIC eyes key asset sales in 18 months

Dubai International Capital (DIC) should complete the sale of the two main assets remaining in its portfolio within 18 months, which will provide it with cash to cover its outstanding debt well ahead of scheduled repayment in two years. Proceeds from the divestment of the five re

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Equity firm CVC Capital eyes $700m Mena deals

European private equity firm CVC Capital Partners is looking for deals in the Middle East and North Africa (Mena) with a price tag around $700 million, its co-chairman said. However, Steve Koltes declined to comment on a potential joint bid with peer KKR & Co for a majority s

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Oman studying ways to curb spending after oil price plunge

Oman's government is studying ways to limit spending in the wake of the plunge of oil prices, but it does not intend to cut back infrastructure projects, a senior finance ministry official said. Among the wealthy Gulf oil exporters, Oman needs a relatively high oil price to balance

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BCFC closes $53m floating rate notes issuance

Bahrain Commercial Facilities Company has closed a US$53 million floating rate, unsecured note issuance due in 2019. Arab Banking Corporation (ABC) was the sole lead manager, while Trowers & Hamlins acted as lead counsel to the issue, said a statement. The note

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Doha Bank 9-month net profit gains 10pc

Doha Bank, Qatar's fifth-largest lender by assets, reported on Tuesday a 10 per cent increase in its net profit for the first nine months of the year. The lender made QR1.1 billion ($301.8million) in the year-to-September 30, compared to QR1 billion ($274.4 million) in the ye

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Saudi Fransi plans three big IPOs as market booms

Investment bank Saudi Fransi Capital has three big initial public offers of shares in the pipeline as the Saudi Arabian equity market booms and firms become keener to list, the company's chief executive said. The kingdom's $550 billion stock market, by far the largest in

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Al Khaliji Q3 net profit surges 35pc

Al Khaliji, a leading commercial bank in Qatar, has reported a net profit of QR145.9 million ($40 million) for the third quarter of 2014, representing an increase of 35 per cent over the same quarter of last year. The net profit for the first nine months of this year stood at QR4

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BBK's net profit rises 8pc to $98m

Bank of Bahrain and Kuwait (BBK) has reported a net profit of BD37.3 million ($98.2 million) for the nine months ended September 30 this year, representing an eight per cent increase over the same period of last year. The earnings per share was 37 fils compared with 34 fils per s

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GCC investment on 'track’ to create opportunities

GCC economies are perusing investments in the right direction, addressing infrastructure needs and investing in sectors that will create more opportunities in the long run, said a report. Standard Chartered has published the latest edition of its quarterly Global Focus. The repor

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New push to bolster Bahrain-Thailand trade ties

Bahrain and Thailand discussed ways to enhance bilateral co-operation in the economic, trade, investment and cultural fields by activating the agreements and memoranda of understanding signed between them. They agreed to take optimum advantage of investment opportunities on offer

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