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Qatar raises 2013 economy growth forecast to 6pcQatar's economy is likely to grow 6 percent this year, slightly faster than previously forecast, partly because of higher gas production, the Ministry of Development Planning and Statistics said in a report on Monday. Gross domestic product growth in the world's top expor More… |
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JP Morgan promotes 2 to key roles in SaudiJP Morgan Chase has promoted two bankers to senior roles in Saudi Arabia, the bank said in a statement on Monday, after its top banker in the kingdom left earlier this year to join the central bank. Rayan Fayez has been named senior country officer for Saudi Arabia, the statement More… |
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CBQ eyes local bank tie-ups to fund infrastructureCommercial Bank of Qatar is open to tie-ups with local financial institutions and could sell bonds next year to fund infrastructure lending in the Gulf Arab state, its recently appointed chief executive was quoted as saying. The lender, which earlier this year completed the purch More… |
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Bank of Sharjah sees 25-30pc profit growthBank of Sharjah expects net profit growth of around 25-30 percent in both 2013 and 2014, aided by an improved performance of the economy in the United Arab Emirates, its chief executive said. Lenders in the UAE have on the whole posted strong profit growth in the first nine month More… |
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ADB mulls sukuk, sovereign insurance productThe Asian Development Bank (ADB) is considering an Islamic bond as early as next year, plans which could evolve into a regular issuance programme and an insurance product to help member countries offer sukuk of their own. The Manila-based development lender is building strong lin More… |
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Saudi cbank expects inflation to fall below 3pcSaudi Arabia's central bank expects annual inflation to continue falling to below 3 percent in the final quarter of this year, it said in a report on Monday. "It is expected that the general inflation in the kingdom will continue going down to below 3 percent during the More… |
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Bahrain economy bounces back with 4.6pc growthBahrain's economy has bounced back, growing by 4.6 per cent in the third quarter of this year. The overall GDP at constant prices stood at BD2,696 million ($6.9 billion) in the third quarter, up from BD2,577.1 million in the same period last year, Central Informatics Organisa More… |
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Global economy to grow by 3.3pcAfter wallowing in an economic 'soft patch' for the past two years, the global economy is likely to emerge in 2014 with modest growth of 3.3 per cent compared with 2.5 per cent this year, said an expert. "The easing of the twin headwinds of private sector de-leveragi More… |
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Saudi Hollandi places $666m sukukSaudi Hollandi Bank has privately placed a 2.5 billion riyal ($666.6 million) tier 2 Islamic bond or sukuk, the lender said in a bourse statement on Sunday. The sukuk, which will support the Bank's capital base, has a tenor of ten years. It carries a half yearly profit of six More… |
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HID Global wins top retail banking awardHID Global, a leader in secure identity solutions, said its ActivID Authentication Appliance has won the ‘Most Innovative Security or Risk Service or Product’ in the 2013 Retail Banking Awards – Security and Risk. The awards honour innovation in the banking indu More… |
