Tuesday 31 March 2015
 
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AIM: Non-oil sectors major contributors to the economy

The Annual Investment Meeting (AIM 2015), an event aimed setting a comprehensive set of guidelines for future investments in high-growth regions, revealed that the contribution of non-oil sectors to the gross domestic product played an important role in the UAE's economic achievements.

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Saudi bourse rules for foreigners by end-April

Saudi Arabia's market regulator will publish the final rules governing the opening of the kingdom's stock exchange to direct foreign investors by the end of April, a senior Saudi banker told Reuters. His comments correspond to a report in pan-Arab newspaper Asharq al-Awsa

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UAE banks ‘not meeting customer needs’

Banks in the UAE are not meeting customer expectations, according to a recent study by TNS, a leading global custom market research organisation. The study looked closely at the services offered by corporate banks with the outcome suggesting that ‘banks are just not delight

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DME hits record 8m barrels trading in March

The Dubai Mercantile Exchange (DME) has announced that it reached the eight billion barrel mark in March, with a total of eight million contracts (equivalent 8 billion barrels) traded on the exchange. The increased interest in DME’s value proposition driven by new members f

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Sidra opening Islamic trade fund to GCC investors

Saudi Arabia-based investment bank Sidra Capital is changing its Islamic trade finance fund, initially established as closed-ended, to an open-ended format as it sees growing appetite from regional investors in the Gulf, its chief executive said. The Luxembourg-registered fund pr

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10 local technology start-ups likely to exit

More than 10 local technology start-ups in the Mena region are expected to exit in the next three to five years, said a top official of Beco Capital, a venture capital firm focused on technology investments. A handful of them have the potential to break the one billion dollar val

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BBK's $400m bond issue ‘a big success’

Bank of Bahrain and Kuwait (BBK) has announced the closing of a bond issuance of $400 million. The issuance of an international senior unsecured bond with a five-year maturity date targeted professional investors in the Middle East, Far East and Europe, said a report in the G

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Khaleeji Commercial plans to reduce paid up capital

Shareholders of Khaleeji Commercial Bank (KHCB) have approved reducing the bank's paid up capital by 13.36 per cent, from BD115.4 ($303.8 million) to BD100 million through decreasing the number of shares from 1.1 billion to 1 billion shares, it was announced yesterday (March 30).

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BCCI ‘played crucial role in spurring Bahrain’s economy’

Since its inception in 1939, Bahrain Chamber of Commerce and Industry (BCCI) has played a crucial role in spurring the country's economy, said its chairman Khalid Almoayed. The chamber, then known as the General Merchant's Association, was established when the country was

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GCC banks register double-digit growth in 2014

The banking industry in the Middle East maintained double-digit revenue growth in 2014 with a 10 per cent increase, stemming largely from major customer segments such as retail and corporate banking as well as international business and treasury, said a report. Increases in opera

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