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Dubai bounces back; broad-based recovery seenDubai has bounced back from the 2009 slump by focusing on its roots, as available data point to a broad-based economic recovery based on the emirate's comparative strengths as a regional hub for commerce and trade, a report More… |
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Mena planned projects total $1.9 trillionProject awards in the Middle East and North Africa (Mena) region reached $65 billion in the year to end September and projects planned and underway in the GCC are now worth $1,903 billion, up 8 per cent year-on-year (yoy), acco More… |
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Abu Dhabi power project eyes $800m bondAbu Dhabi's Shuweihat 2 independent water and power plant (IWPP) project may launch a bond with a target size of $800 million by the end of September as part of a $2.2 billion refinancing plan, three sources familiar with the matte More… |
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Citi named best foreign investment bankCiti was recently named “Best Foreign Investment Bank in Bahrain” by EMEA Finance Magazine as part of the magazine's Middle East Banking Awards 2011. Meanwhile, Bahrain's $750 million sukuk issue was chosen as “Best Sovereign Sukuk” in EME More… |
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New York, London, Singapore ‘most competitive’New York, London and Singapore ranked first, second and third in competitiveness, out of 120 of the world’s major cities, according to a new Economist Intelligence Unit (EIU) research report. Released today, the report commissioned by Citi More… |
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Citi sells stake in India's HDFC for $1.9bnCitigroup said it sold its stake in India's Housing Development Finance Corp for $1.9 billion, as the bank steps up efforts to strengthen its capital base. Citi said on Friday it would likely record an after-tax gain of about $722 million More… |
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Citi mulls more cuts in securities and bankingCitigroup said it may make further cuts in its securities and banking unit in 2012 if revenue does not pick up meaningfully, as the prospect of more layoffs looms large over investment banks globally. The US bank, which said last week that More… |
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Citi begins London investment bank layoffsCitigroup began a round of layoffs among its London-based investment bankers this week, with jobs in advisory, equities and fixed income set to go as the bank readies 4,500 redundancies worldwide. There are likely to be "several hundred" j More… |
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UNB set to price key dollar bondAbu Dhabi's Union National Bank (UNB) will aim to price a benchmark-sized five-year dollar-denominated bond this week, as Middle Eastern issuers spot a window in volatile economic conditions to return to the debt market. The bank has m More… |
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Citi wins Global Finance awardsCiti, the international financial conglomerate, has won several awards in the first round of Global Finance magazine's awards for the 2011 Best Internet Banks in the Middle East and Africa. Citi's branches in Egypt, Kuwait, Lebanon, Jordan More… |
