Wednesday, May 6, 2015

Saudi sets ownership caps as $575 bln bourse opens to foreigners, Oil hits 2015 high as traders look beyond ample current supply

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Finance and Economy
Saudi sets ownership caps as $575 bln bourse opens to foreigners
The Saudi market is the biggest in the Arab world and one of the last major bourses globally to open up.
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Egypt economic policies starting to pay off – IMF
The north African country's economy came close to fiscal and balance of payments crises after the Arab Spring uprisings in 2011.
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Abu Dhabi sovereign wealth fund to buy HK hotels in $2.4 bln deal
The latest stake purchase marks the second real estate-related investment by a Middle Eastern fund in Hong Kong.
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Energy
Oil hits 2015 high as traders look beyond ample current supply
Oil's collapse in 2014 was due to ample supply and the refusal by the Organization of the Petroleum Exporting Countries to cut output.
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Saudi non-oil business growth slows – survey
Output growth slowed sharply to 64.2 points from 67.6, though it remained fast in absolute terms while new order growth fell less steeply.
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Saudi Arabia restructures oil giant Aramco
The move is apparently aimed at letting Aramco to operate more at arm's length from the powerful oil ministry.
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Real Estate
Cayan Cantara first phase sold out
Cayan Cantara in Dubai comprises luxurious residence and hotel apartments featuring unique design and facilities.
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Dragon City in Dubai opens for lease
Nakheel's newly-announced Dragon City mixed-use community in Dubai opens for lease with 1.3 million sq ft of new retail space up for grabs.
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     News
ATM 2015: Key highlights and figures
More than 3,000 exhibitors and hundreds of delegates were present at the Arabian Travel Market (ATM) that opened in Dubai.
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UAE–Hong Kong trade hits $9.7 billion
Business and trade between both the countries has been growing significantly in the past years.
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Qatar wealth fund to open New York office
The Qatar Investment Authority is one of the most active sovereign wealth fund investors in the world.
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Egypt oil revenues down 34 per cent in February
Egypt's oil revenues slumped by 34 per cent to EGP1.99 billion in February, compared with the same period of last year.
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