Tuesday 30 August 2016
 
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Saudi prince to discuss reform drive in China, Japan

Saudi Arabia's Deputy Crown Prince Mohammed bin Salman will discuss the kingdom's drive to cut its reliance on oil exports in visits to China and Japan that begin next week, Saudi media and sources said on Wednesday. In April, Prince Mohammed launched radical economic ref

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Brexit ‘won’t impact Dubai’s global financial standing’

Seventy-one per cent of the UAE members of the CFA Institute, the global association of investment professionals, said that Brexit will not impact Dubai’s competitiveness as a global financial centre, in a new survey. Furthermore, 58 per cent of respondents affirmed that Mi

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Top Saudi healthcare provider appoints SRB

Saudi Arabia’s Mouwasat Medical Services has appointed Shariyah Review Bureau (SRB) as its Sharia advisor to help ensure that its financial dealings comply with best practices in Sharia. A corporate Shari’a Advisor for 26 per cent of the investment companies licensed

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Sico adopts CFA’s asset management standards

Securities and Investment Company (Sico), a Bahrain-based conventional wholesale bank, has joined a select group of Mena asset managers that are compliant with the Global Investment Performance Standards (GIPS) issued by the CFA Institute, reported the Gulf Daily News, our sister publi

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UAE India Economic Forum focus to step up ties

Key opportunities for diversifying and deepening the economic partnership between India and the UAE will come under the spotlight at the upcoming UAE India Economic Forum (UIEF) in Dubai. Supported by the UAE’s Ministry of Economy and hosted by the Consulate General of Indi

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Saudi govt selling $5.3bn bonds, says report

The Saudi Arabian government is selling up to SR20 billion ($5.3 billion) of domestic government bonds to banks in a monthly sale to help cover a budget deficit caused by low oil prices, Maaal financial website reported on Tuesday. The government has informed banks of their alloc

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Egypt plans to lift fuel subsidies in three years

Egypt plans to lift fuel subsidies within three years and is aiming to increase fuel prices to 65 per cent of their actual cost during the 2016/17 fiscal year, two government sources told Reuters on Tuesday. Egypt, which is struggling to revive its economy after an uprising in 20

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KFH-Bahrain launches new Wakala account

Kuwait Finance House-Bahrain (KFH-B) has launched a new investment product, reported the Gulf Daily News, our sister publication. To read further, please visit GDNonline.

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KHCB inks financing deal with developer

Khaleeji Commercial Bank (KHCB), a Bahrain-based Islamic retail bank, has signed an agreement with Burooj Property Development to offer customised financial solutions, reported the Gulf Daily News, our sister publication. To read further, please visit

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UAE to provide Egypt with 6-year, $1bn deposit

The United Arab Emirates has agreed to provide Egypt's central bank with a $1 billion deposit for a duration of six years, the United Arab Emirates' official state news agency WAM said on Monday. Egypt this month signed a preliminary deal for a $12 billion IMF le

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