Saturday 30 July 2016
 
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Pacific Controls in bank talks about $381m debt

Pacific Controls, a Dubai-based technology company, is in talks with banks about restructuring debts of Dh1.4 billion ($381 million), sources told Reuters, one of the largest firms to have to do so since the emirate's economy began to slow. It is also set to be the highest-pr

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UAE's property loans improve despite price slide: IMF

The quality of real estate loans in the UAE has continued to improve despite sliding home prices, the International Monetary Fund (IMF) said, in a sign that the country is coping better with a real estate downturn than it did in the last slump seven years ago. Dubai's average

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Ezdan Holding Q2 net profit edges up 1.7pc

Qatar's Ezdan Holding reported a 1.7 percent rise in second-quarter net profit on Wednesday, according to a bourse statement. Ezdan, founded and chaired by members of the ruling Al-Thani family, made QR341.5 million ($93.8 million) in the three months to June 30, the company

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NBAD Q2 net profit dips 4.8pc, meets forecasts

National Bank of Abu Dhabi, the emirate's largest lender by assets, on Wednesday posted a 4.8 per cent fall in second-quarter net profit, broadly in line with forecasts. NBAD, which earlier this month said it had provisionally agreed to merge with rival First Gulf Bank, made

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NBAD Q2 net profit dips 4.8pc

National Bank of Abu Dhabi , the emirate's largest lender by assets, on Wednesday posted a 4.8 per cent fall in second-quarter net profit, broadly in line with forecasts. NBAD, which earlier this month said it had provisionally agreed to merge with rival First Gulf Bank, made

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Xpress Money urges open remittance markets

Xpress Money, one of the world’s most dependable money transfer brands, has called for a liberalization of remittance markets towards an open structure to create economic efficiencies and equality in the Mena region.  “We’ve seen that exclusive arrangements

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HSBC names chief executive for Mena

HSBC has named Georges Elhedery as its chief executive for its Middle East and North Africa (Mena) region, reported the Gulf Daily News, our sister publication. To read further, please visit

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BCFC net profit rises 11pc to $24.7m

Bahrain Commercial Facilities Company (BCFC)  has reported a consolidated net profit of BD9.4 million ($24.7 million) for the first six months of this year, 11 per cent higher than the same period last year, reported the Gulf Daily News, our sister publication. To r

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Egypt close to $7bn a year support deal with IMF

Egypt said on Tuesday it was close to agreeing an International Monetary Fund (IMF) lending programme to ease its funding gap and restore market stability and was seeking to secure $7 billion annually over three years. Prime Minister Sherif Ismail ordered the central bank governo

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Abraaj Group eyes 4-5 deals in Turkey

Abraaj Group expects to complete at least four or five acquisitions in Turkey in the next two years, a senior executive told Reuters on Tuesday, despite the political turmoil currently dominating the country. The comments, by Selçuk Yorgancıoğlu, regional head of Turkey an

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