Tuesday, February 24, 2015

Confidence over UAE banking sector performance, Saudi Arabia's monetary base increases

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Finance and Economy
Emirates NBD confident on UAE banking sector performance
Dubai's largest lender expects a "very profitable" 2015 with a loan growth of roughly five to seven per cent.
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Banque Du Liban's (BDL) assets fall to $49.19 billion
TheLebanese central bank's total assets of gold and foreign currencies reached $49.19 billion in mid-February.
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Kuwaiti government's spending increases 9.6 per cent
The government's interim surplus decreased to KWD10.6 billion from KWD14.3bn during the same period last year.
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Energy
Three ADNOC service stations in Abu Dhabi temporarily closed
ADNOC Distribution announces the temporary closure of three service stations, Al Samha 2, Al Nasser and Al Qanah, in the emirate of Abu Dhabi.
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Reverse auctions boost low-emission technologies
The mechanisms can help governments deliver competitively priced electricity, as well as secure long term financial returns.
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Tasweeq and Astomos Energy sign new LPG contract
Qatar International Petroleum Marketing Company operates in the best interest of the Producing Entities, stakeholders and the State of Qatar.
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Real Estate
Kuwait's property market resilient despite oil price drop
Real estate sales rebounded again during the fourth quarter 2014 after witnessing a decline during the third quarter of 2014.
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Emaar launches 'Acacia at Park Heights' in Dubai Hills Estate
Global developer Emaar Properties unveils a new collection of residential apartments, Acacia at Park Heights in Dubai Hills Estate.
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     News
Saudi Arabia's monetary base grows by 10.8 per cent
The oil rich kingdom's monetary base grew SR35.6 billion to settle at SR366.9 billion during Q4 2014.
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UAE registers highest inflation rise among GCC
Inflation rates across the GCC member states ranged between 3.1 per cent and 0.8 per cent last year.
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Dubai's Abraaj buys stake in Turkish online retailer
Abraaj Group's investment will be used by Hepsiburada to expand its e-commerce operations in Turkey.
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Growth of Islamic banking set to surge in five years
The growth is attributed to economic expansion in Asia, as well as an Islamic approach to investment in the Middle East.
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