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Kuwait budget surplus may hit $52 billionKuwait is likely to have recorded another massive surplus during the last financial year of up to KD15 billion ($52.8 billion) as the price of Kuwait Export Crude (KEC) averaged $107 per barrel for the fiscal year, a report said. More… |
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Peru road shows target Mideast marketsPeru, a fast growing emerging economy, is set to hold road shows in Abu Dhabi and Dubai with the goal of promoting greater inward investment from Middle Eastern markets. The tour will see a 35 strong Peruvian delegation led by senior government ministers and business executives f More… |
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EFG Hermes Q1 net profit up 27pcEFG Hermes, a leading investment bank in the Arab world, said its net profit for the first quarter surged 27 per cent to EGP98 million ($13.9 million) when compared to the same period last year. The group revenues rose 14 per cent to EGP194 million mainly driven by 17 per cent gr More… |
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ADCB sells $300m of subordinated bondsAbu Dhabi Commercial Bank will sell $300 million in a subordinated bond on Wednesday, according to the deal arranger, just over two months after its last debt markets outing. The lender had aimed to issue a benchmark-sized subordinated bond in a swift one-day deal. More… |
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Standard Chartered’s credit card wins awardStandard Chartered Bank’s MasterCard Titanium Credit Card won the “Best New Credit Card in the Middle East” award during the Cards Middle East Forum 2013, a statement said. The credit card has been recognised for offering cash back incentives and privileges on t More… |
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Emirates NBD seals Dubai tower dealEmirates NBD, a leading banking group in the region, said its real estate unit Emirates NBD Properties has concluded a Dh122 million ($33.2 million) deal with Emirates REIT, the first GCC Sharia compliant real estate investment trust, for retail space in Index Tower, located at the Dubai Intern More… |
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Barclays advises on equities over bondsWith most bonds continuing to trade above their par values, and at levels that leave them very sensitive to changes in interest rate expectations, Barclays strongly favours stocks over bonds, the bank said in a report. Barclays continues to prefer corporate to government securiti More… |
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World Bank boosts funds for Syria refugeesThe World Bank plans substantial new funds to help Jordan cope with the influx of refugees from the civil war in Syria, and hopes new funds for central Africa will cement a peace deal there, the bank's President Jim Yong Kim said. More… |
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Doha Bank sets $1.5bn to fund Emirati SMEsDoha Bank, a leading Gulf-based lender, has earmarked Dh5.5 billion ($1.5 billion) to support small and medium enterprises (SMEs) and corporate clients in the UAE through its fully licenced branches in Abu Dhabi and Dubai besides offering support for companies in the infrastructure development More… |
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Gold gains on China demandGold edged higher on Wednesday due to strong Chinese demand and after Federal Reserve officials allayed investor concerns that the US central bank will soon exit its bullion-friendly bond purchases. Gold has been pressured in recent weeks by fears the Fed could scale back o More… |
