Sunday 21 December 2014
 
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Moody's downgrades 3 Lebanese banks' ratings

Moody's Investors Service recently downgraded to B2 the long-term deposit ratings of three Lebanese banks: Bank Audi, BLOM Bank  and Byblos Bank. Concurrently, Moody's lowered the baseline credit assessments of the three banks to b2 from b1 (within the E+ bank financ

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GCC rebound likely to slow as oil outlook still cloudy

A strong rebound by Gulf stock markets looks set to slow on Sunday as the outlook for oil prices remains cloudy, but the panic which engulfed stocks earlier this month is unlikely to return. Gulf bourses surged on Thursday, with Saudi Arabia up 8.9 per cent and Dubai up 13 per ce

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GCC trade with Africa on the rise

GCC countries are placing more attention on new markets in east, west and southern Africa as their trade flows with the continent expand, a report said. From telecommunications and private equity in West Africa to energy projects in South Africa and Mozambique, investment flows a

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OIC markets projected to grow at 5.4pc

Organisation of Islamic Cooperation (OIC) markets are projected to grow at an average of 5.4 per cent till 2019, significantly higher than the rest of the world (3.6 per cent) and the high growth BRICS markets (3.9 per cent) said the organisers of an upcoming Islamic investment forum in Bahrain

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Oman sovereign fund boosts buying of local stocks

Oman's State General Reserve Fund (SGRF) has boosted its buying of shares in the local stock market as prices have slid to attractive levels, the fund's executive president said. The Muscat Securities Market's (MSM) main index is down 20 per cent from its November pea

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Qatar inflation soars to 3pc in Nov

Qatar's annual inflation surged to three per cent in November amid a rise in rents and energy costs besides a jump in the food and beverage prices, according to a report. Qatar's annual inflation hit three per cent in November, according to the data released by the countr

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Bahrain-Oman may mull debt issuance

Bahrain and Oman are likely to finance any increase in fiscal deficits next year through sovereign debt issuance, according to Moody's Investors Service. The ratings agency said that while the six GCC states can withstand the pressure of oil prices averaging around Moody'

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Bahraini firms eyeing major push in Africa

Africa's attractiveness as an investment destination continues to grow in recognition, a leading investment expert has said. According to Ashburton Investments African Equities specialist Paul Clark, the continent can boast some of the world's strongest gross domestic pro

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UAE brokerages told to obey margin trading rules

The UAE Securities and Commodities Authority urged brokerages that extend margin trading services to obey regulations and sell clients' shares if shortages in their accounts are not filled on time. The market regulator said it was making its statement in response to media rep

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Sharjah bank gets new card personalisation solution

OMA Emirates, a provider of cutting edge technology for the payment industry, has implemented an end-to-end Europay, MasterCard and Visa (EMV) card personalisation for Sharjah Islamic Bank. The solution will help to make a smooth transition from magnetic stripe to EMV cards issua

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