Saturday 31 January 2015
 
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Key Tenmou-backed app raises $300,000 funding

Tenmou, Bahrain's first 'Business Angels' company, has announced that 'eat' - an app that allows users to create restaurant reservations online, has raised $300,000 in the second round of funding. With this add

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UAE fund eyes $100m finance buyout by June

Abu Dhabi Financial Group (ADFG) aims to complete the $100 million buyout of a local financial services firm by June, strengthening a shift towards expanding its business via acquisitions, its chief executive said on Tuesday. It w

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Citi loses appeal over Abu Dhabi fund's arbitration

Citigroup on Wednesday lost an appeal aiming to block Abu Dhabi Investment Authority from pursuing a second arbitration over the sovereign wealth fund's $7.5 billion investment in late 2007 to shore up the then-struggling bank.

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Abu Dhabi fund completes Kabul housing project

Abu Dhabi Fund for Development (ADFD) said that construction work has been completed at its $167-million residential housing development in Kabul, Afghanistan, and was set for hand over in July. The work is under way to complete t

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DIC launches sale of German aluminium group Almatis

Dubai International Capital (DIC) is launching the sale of German alumina products maker Almatis as the fund seeks to reduce its liabilities in the wake of a debt restructuring, three people familiar with the deal said. DIC has ma

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Saudi minister says no need for sovereign wealth fund

Saudi Arabia's Finance Minister said there was no need for the kingdom to create a sovereign wealth fund to manage its oil wealth, rebuffing suggestions by prominent officials and businessmen. At present, the surplus petrodoll

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JPMorgan fund eyes $200m stake in India's SpiceJet

A fund managed by JPMorgan Chase is in advanced talks to partner with Indian carrier SpiceJet's co-founder for a planned $200 million investment into the cash-strapped airline, the Economic Times reported on Thursday, citing unnamed sources

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JPMorgan fund eyes $200m stake in India's SpiceJet

A fund managed by JPMorgan Chase is in advanced talks to partner with Indian carrier SpiceJet's co-founder for a planned $200 million investment into the cash-strapped airline, the Economic Times reported on Thursday, citing unnamed sources

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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) ma

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NBAD Sukuk Income Fund delievers 2.33pc dividends

The National Bank of Abu Dhabi’s (NBAD) Sukuk Income Fund has earned a total income of $798,923, which is equivalent to 2.33 per cent of the net asset value (NAV), which includes the intended dividend pay-out of $0.12 per unit.  

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