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14pc UAE GDP 'comes from logistics'Around 14 per cent of UAE’s GDP is being contributed by the supply chain and logistics sector which has become an integral part of the country's economy, said a top Dubai Chamber official. "T More… |
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UAE April inflation eases to 0.9pc y/yThe consumer prices in the UAE slowed to 0.9 per cent year-on-year compared to the previous month, the data from the National Bureau of Statistics showed. The housing and utility costs, which account for over 39 per cent of consumer expenses, fell 0.1 per cent year-on-year and re More… |
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IDB picks banks for $500m sukuk saleIslamic Development Bank, a Jeddah-based multilateral institution, has picked eight banks to arrange a series of meetings with fixed income investors ahead of a potential sukuk issue, said lead managers. The AAA-rated bank will host roadshows in the Middle East, Asia and Europe f More… |
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BLME eyes 15pc asset growth, stronger Gulf tiesThe Bank of London and The Middle East (BLME), Britain's largest standalone Islamic bank, is targeting 15 per cent growth in assets this year, with plans for a Dubai office to help boost its capital markets and wealth management offerings. BLME plans to have a presence in the More… |
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Bahrain MPs veto national budgetBahrain's MPs have vetoed the national budget in a vote that could see up to 350,000 Bahrainis miss out on increased financial benefits, a report said. The MPs refused to approve the budget for this year and the next, which is already six m More… |
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Bahrain needs to cut public debt urgently: IMFBahrain, which last year boosted state spending, urgently needs to reform its economy to stop its debt burden becoming unsustainable, the International Monetary Fund said. Bahrain upped its original 2012 expenditure plan by nearly 19 percent in September 2011 after protesters too More… |
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DIB ratings receives Moody’s affirmationDubai Islamic Bank Group (DIB) has announced that its long term issuer ratings have been affirmed by Moody’s at Baa1. The bank ratings, put on a review late last year when Moody’s took action on all major Dubai-based banks, have now been affirmed and the outlook has b More… |
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Pinebridge names CIO for Mena, TurkeyPineBridge Investments, a leading global, independent asset manager, has appointed Wael Aburida as chief investment officer (CIO) for Mena and Turkey. Aburida will lead PineBridge's Mena private equity and real estate team covering Mena and Turkey, with responsibility for dea More… |
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Regulation ‘biggest challenge for CFOs’The role of chief financial officers (CFOs) in Bahrain is becoming far more forward-looking, and they see increasing regulation as their greatest challenge, according to the Institute of Chartered Accountants in England and Wales (ICAEW). A total of 20 CFOs gathered for ICAEW' More… |
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ENBD plans bond sale to boost capitalEmirates NBD (ENBD), Dubai's biggest lender, plans to tap global debt markets for its first capital-boosting bond issue, as Gulf banks take advantage of tight pricing and high investor demand to shore up capital ratios. &n More… |
