Tuesday, April 21, 2015

GCC states budgets feel heat from lower oil prices, Middle East is fastest-growing market for Aston Martin

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Finance and Economy
GCC states budgets feel heat from lower oil prices
Take a look at the different GCC states and how they have been affected by the sharp drop in oil prices.
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UAE Islamic insurers consider mergers
Several Islamic insurers in the UAE are seeking guidance from the Insurance Authority on the possibility of mergers and acquisitions in the sector.
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SABIC Q1 net profit falls 39 per cent
The region's largest petrochemical group makes a profit of $1.05 billion in the first three months of the year ending March 31.
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Energy
Can Saudi Arabia cope with oil volatility?
The government is confident of the economy, however petrochemical firms are reporting a slump in results.
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Oil revenues expected to plummet by $370 bn
Budget deficits of Arab oil producers are expected to equal seven per cent of collective GDP in 2015, says a report from Arab Monetary Fund.
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Egypt's Petrojet wins contract worth $185 mn
Egypt's state-owned Petrojet has been awarded a $185 million contract to build the first gas-processing plant for Iraq's Siba oilfield.
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Real Estate
Top cash buyers in UAE real estate
A new real estate survey by YouGov reveals which nationality can afford to buy property for cash in the Emirates.
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Emaar unveils Maple at Dubai Hills Estate
Contemporary-styled 3-5 bedroom townhouses will celebrate green outdoor lifestyle in close proximity to an 18-hole championship golf course.
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     News
Saudi's Kingdom Holding posts 10.3 pct Q1 net profit increase
The investment firm owned by Prince Alwaleed has minority stakes in some of the world's top companies.
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Mergers and acquisitions take a plunge in Q1 2015
The highest-valued deal of the quarter was the $1.5 billion demerger of Orascom Construction.
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Saudi Arabia jumps before market opens to foreigners
The kingdom announced last July that it would permit direct foreign purchases of shares in the first half of 2015.
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Mideast is fastest-growing market for Aston Martin
The British luxury carmaker's marketing director talks about regional market growth and new models.
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