Monday 8 February 2016
 
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Diversification

Nakheel profit up 19pc; hits $1.19 billion

Dubai-based Nakheel, one of the world’s leading developers, today reported a net profit of Dh4.38 billion ($1.19 billion) for the financial year ending December 31, 2015, representing a 19 per cent increase on last year’s net profit

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Subsidy reforms ‘key to beat govt cash crunch’

Subsidy reform and further diversification are the most critical elements in overcoming the current squeeze on government revenues resulting from a sustained period of lower oil prices, according to experts. Energy and financial s

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UAE growth seen at 3.9pc this year

The UAE’s gross domestic product (GDP) growth in 2015 is expected to reach 3.9 per cent thanks to more established diversification efforts, while many Middle East states will see lower growth caused by the plunging oil price, according to

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Non-oil diversification ‘crucial for Mideast’

The growing importance of non-oil diversification for Middle East economies has been highlighted by a regional consultancy as the Indian economy continues to strengthen. The tender cost update for the Middle East and Indian markets by Mace Cos

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Non-oil diversification ‘crucial for Mideast’

The growing importance of non-oil diversification for Middle East economies has been highlighted by a regional consultancy as the Indian economy continues to strengthen. The tender cost update for the Middle East and Indian markets by Mace Cos

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Tasweek eyes diversification into new markets

Dubai-based Tasweek Real Estate Development and Marketing has announced plans to pursue growth prospects in promising segments such as smart technologies for food and beverages (F&B), entertainment and sports. The announcement

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Bahrain ‘must step up diversification efforts’

While Bahrain has taken promising measures to diversify its economy, the continued oil price slump means more work will need to be done in order for the Kingdom to achieve fiscal, environmental and resource sustainability, a report said.

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Oman keeps investing in diversification

Oman's government has responded to low oil prices by cutting spending on defence and subsidies while continuing to invest in diversifying the economy, official figures showed on Tuesday. The plunge of crude prices since last y

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Saudi Electricity eyes investment options to diversify

Saudi Electricity Co (SEC), the Gulf's largest utility firm, is looking for investment opportunities to offset financial pressures on its core electricity business, its chief executive said. "Because we are squeezed and a

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GCC economic diversification to drive growth

Economic diversification is a crucial growth driver for the GCC countries. The GCC could see additional gains of up to $17.7 billion if the region were to catch up to the average OECD level of diversification, said a report in the

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