Saturday 2 August 2014
 
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Dubai World seeks to revise $25bn debt deal

Economic recovery in Dubai is pushing both creditors and debtors to weigh new strategies in the $25 billion restructuring of state-owned Dubai World, one of the Middle East's largest ever debt deals. The conglomerate has begun talks to adjust a restructuring plan originally s

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Bahrain bourse best performing in Gulf

Bahrain Bourse (BHB) was the best performing market in the second quarter, gaining 5.2 per cent, followed by Oman's stock market with a 2.2 per cent gain, according to National Bank of Kuwait (NBK) research. The Saudi market was flat in the quarter while all remaining GCC mar

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WTO’s $1trn customs deal blocked by India’s demands

The World Trade Organization failed on Thursday to reach a deal to standardise customs rules, which would have been the first global trade reform in two decades but was blocked by India's demands for concessions on agricultural stockpiling. "We have not been able to find

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Damac looks to list shares on Dubai bourse

Dubai luxury property developer Damac is offering investors the option of converting its Global Depositary Receipts (GDRs), listed on the London bourse, into ordinary shares that would be listed on Dubai's main stock market. Investors would get around 23.08 shares per GDR. Th

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Mideast funds bullish on Saudi, bearish on UAE

Middle East funds are heavily bullish towards Saudi Arabian stocks after news the market will open to direct foreign investment, while they are bearish on the United Arab Emirates because of concern about high valuations. The latest Reuters survey of 15 leading investment manager

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Gulf Capital invests in school operator

Gulf Capital, a regional alternative investment firm, has announced the completion of an investment in private school operator Evolvence Knowledge Investments (EKI) through Gulf Credit Partners, its regional fund. EKI engages in the establishment and operation of private schools

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Saudi FDI opening ‘may slow down IPOs’

Saudi Arabia's decision to open its stock market (Tadawul) to foreign direct investment (FDI)could curb initial public offerings (IPOs) in the kingdom as it could make local firms cautious about giving up stakes in their business to foreign control, a report said. "There

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Global firms eye Kuwait's Americana

Some of the world's major provate equity firms are showing interest in acquiring Americana, the Kuwaiti operator of major food chains. Americana, the operator of KFC, TGI Friday’s, Krispy Kreme and Red Lobster in Kuwait, is looking for a suitor willing to pay $5 billion

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IMF agrees on $5bn credit line for Morocco

The International Monetary Fund said on Monday it will provide Morocco a $5 billion credit line to help the North African country pursue a reform agenda to achieve rapid and more inclusive economic growth. Morocco's central bank governor said last month his country was workin

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Bank Audi H1 profit up to $190m

Lebanese Bank Audi said its first half net profit was $190 million, slightly up from $188 million in the same period last year. The bank said in statement its customer deposits grew by $2.9 billion to $34 billion over the first six months of 2014. The bank, which o

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