Friday 22 May 2015
 
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assets

Saudi cbank foreign assets drop in March

Net foreign assets at Saudi Arabia's central bank dropped 4.7 per cent from a year earlier in March to SR2.590 trillion ($690.6 billion), their lowest level since July 2013, central bank data showed on Wednesday. The central b

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Mumtalakat aims to double assets under management

Bahraini sovereign fund Mumtalakat wants to double its $6.4 billion assets under management in the next seven years, preferably through partnerships with global investment firms, its chief executive told Reuters. With stakes in so

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GSK, Novartis complete $20bn asset swap deals

GlaxoSmithKline and Novartis said on Monday they had completed a series of asset swaps worth more than $20 billion that will reshape both drugmakers. GSK is forming a consumer health joint venture with Novartis, while at the same

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Mumtalakat ranks 42 globally with $10.5bn assets

Bahraini sovereign fund Mumtalakat with estimated assets of $10.5 billion has been ranked 42nd globally, according to a report issued by Sovereign Wealth Fund (SWF) Institute. It owns shares in 38 companies representing manufacturing, f

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Mumtalakat rules out asset sale

Bahraini sovereign fund Mumtalakat will not sell any assets or change its investment strategy in response to a likely oil price-driven shortfall in the state budget, it said on Thursday. The fund holds stakes in Bahraini companies

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Technip sells diving assets in Gulf of Mexico

Technip, a leader in project management, engineering and construction for the energy industry, has completed the sale of its diving assets in the US Gulf of Mexico to Ranger Offshore. The sale reinforces Technip’s strategy t

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Doha Bank shareholders approve India assets buy

Shareholders of Doha Bank have approved the purchase of the Indian assets of HSBC Bank Oman after an extraordinary meeting, the Qatari bank said in a statement on Monday. HSBC Bank Oman, an affiliate of HSBC Holding, said in April

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Shuaa Capital Q3 net profit jumps six-fold

Shuaa Capital, a Dubai-based financial services provider, has posted a net profit of Dh26.2 million ($7.13 million) during the third quarter of the year as against Dh3.6 million ($978 million) during the same period of 2013, marking a six-fold i

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Investcorp eyes 30pc rise in key assets

Investcorp is targeting a more than 30 per cent hike in its assets under management (AUMs) in the next five years as Middle Eastern investors increasingly see private equity as a way to diversify out of traditional investment routes.

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Property beats gold as preferred asset in UAE

Property is now a more popular investment asset class than gold for UAE residents, a report said, elaborating that property makes up 53 per cent of investment portfolios, compared with 43 per cent holding traditional asset gold. T

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