Friday 31 October 2014
 
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costs

Dubai housing costs soar to record peaks

An economic rebound has catapulted house prices and rents in Dubai to Manhattan-like peaks, forcing increasing numbers of residents to move to its cheaper outskirts or even to consider returning home abroad, said the city's top property webs

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Construction projects worth $212bn under way in UAE

The volume of announced and planned projects in the UAE in 2014 is expected to be worth $315 billion, and as of May 2014, $212 billion worth of construction projects were under construction, a new report said. The UAE’s cons

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Agility Q1 net profit up 11pc

Agility, a leading logistics group, has a reported a net profit of KD11.24 million ($40 million) for the first quarter, up 11 per cent compared to KD10.13 million the same last year as cost savings helped to offset lower revenues.

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Samba Q1 profit rises 7pc as costs drop

Samba Financial Group, Saudi Arabia's third-largest bank by market value, posted a 7.1 percent rise in first-quarter net profit on Tuesday, beating analyst forecasts as operating expenses fell. The bank said it made a profit o

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Thomson Reuters launches managed KYC service

Thomson Reuters has launched a new solution to support financial institutions and their clients to increase efficiency and reduce costs in complying with Know Your Customer (KYC) requirements. Accelus Org ID was developed in partn

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Siemens plans to cut 15,000 jobs

Siemens is to shed 15,000 jobs over the next year, a third of them in Germany, as part of a 6 billion euro ($8.1 billion) cost cutting program, a spokesman said on Sunday. The announcement comes two months after the ouster of Chie

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Reduced costs boost Riyad Bank profit

Riyad Bank, Saudi Arabia's third-largest lender by market value, posted a 5.9 percent rise in its second-quarter net profit on Thursday due to a slight rise in operating income and cuts in costs.   The bank s

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Arab Spring pushes reinsurance costs up 400pc

The cost of reinsurance has spiralled across the region by some 400 per cent since the advent of the Arab Spring and that is having a major impact on the insurance industry. That will be one of the key issues to be discussed at a

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Gulf Air cuts overall losses by 50pc in Q1

Gulf Air, the national carrier of Bahrain, reduced its overall losses by approximately 50 per cent in the first quarter of 2013 compared to the same period last year, realised principally through a 21 per cent fall in year-on-year expenditure.

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$6.9bn profit for StanChart; warns on costs

  Standard Chartered notched up a tenth successive rise in annual profit with a 1 percent gain that was capped by the bank's big fine for breaking US sanctions on Iran and rising regulatory costs.  

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