Shares of Fannie Mae and Freddie Mac slump 32 pct and 34 pct respectively, on Tuesday, after a U.S. appeals court upheld dismissal of hedge funds’ claims against the … CID’s Inspector Purvi is holidaying in Dubai, see pics Sports Calendar 2016 – Times …
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Six banks pitch for Aramco IPO role on Saudi bourse – sources
DUBAI/RIYADH (Reuters) – Saudi oil giant Aramco [IPO-ARMO.SE] has received proposals from at least six banks for an advisory role on the firm’s planned initial public share offering, sources familiar with the process said on Tuesday. Saudi authorities are …
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Dubai’s International Finance Centre grew by 14 per cent last year
Bosses at the state-owned financial free zone, known as the DIFC, say there has been a 10 per cent increase in financial firms registered in the DIFC, and a 17 per cent rise in non-financial companies. Profits at Dubai’s financial district grew by seven …
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This Oil Nation Aims To Colonize Mars
The Emiratis, despite the oil price crash, still have a respectable stash in their sovereign wealth fund, the Investment Corporation of Dubai. The fund was worth US$175 billion three years ago, when it launched its international expansion strategy …
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Kuwait replaces wealth fund head after 14 years, Al Rai reports
Dubai: Kuwait Investment Authority (KIA … In that role, he was responsible for private equity, hedge funds, real estate and the KIA’s representative office in China, according to the fund’s website.
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Dubai's financial centre could top 2024 targets -exec
DUBAI Feb 20 Dubai International Financial Centre could beat its target of more than doubling the number of financial firms registered within it by 2024 if interest continues from markets such as China, India and the Middle East, the governor of the …
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Brexit jitters already steering more UK investors to Dubai
According to UAE listings portal, propertytrader.ae, the prolonged and uncertain nature of the so-called Brexit is finally pushing UK buyers to find somewhere stable to invest, away from home and Europe, and Dubai seems to be the obvious choice.
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UAE Central Bank announces banking developments
he UAE Central Bank has announced that the money supply aggregate, M1 (currency in circulation outside banks and monetary deposits in current accounts and call accounts at banks), increased by 1.3 percent, from AED474 billion at the end of December 2016 …
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Australia and UAE to deepen defence ties
Australia and the United Arab Emirates (UAE) will explore closer defence ties after a meeting between Defence Industry Minister Christopher Pyne and Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan. Mr Pyne and Sheikh Mohammed, who is also Deputy …
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Trump sons open Dubai golf course, praise U.S. ally
DUBAI (Reuters) – U.S. President Donald Trump’s eldest sons Donald Trump Jr. and Eric Trump were guests of honor at the opening of a Trump-branded golf course in Dubai on Saturday, the first Trump property project launched since their father’s inauguration …
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Bank of Singapore to use Dubai as base to attract Middle East, Africa wealth
DUBAI The private banking arm of Singapore’s second-biggest lender OCBC (OCBC.SI) is targeting annual growth of assets of more than 20 percent from its new office in Dubai, which it aims to use to attract wealthy clients from the Middle East and Africa …
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KFH participates in 2017 IIF MENA Financial Summit held in Dubai
KUWAIT: Group Chief Executive Officer at Kuwait Finance House (KFH), Mazin Saad Al- Nahedh stressed the importance of practically facing the economic challenges facing the GCC banks in light of the fall in oil prices, indicating the necessity of applying …
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UAE banks likely to face challenges in asset growth and profitability
Dubai: The UAE’s banking sector is headed into another challenging year following strong economic headwinds the sector faced in 2016, according to banking sector analysts. Banks are expected to face further slowdown in loan growth, while asset quality …
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Dubai street art turns urban sprawl into open-air museum
“Dubai has everything, from finance to tourism,” says project director Shaima Al-Soueidi. “Tourists can see our history at the museums. But we want everyone to be able to see that history everywhere, even in the streets.” Urban art is a growing trend in …
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Dubai gold price flirts with Dh150: Will it fall today?
She also hinted the US interest rates will be increased sooner rather than later. “As I see it, a relatively small group of hedge funds and institutional speculators have been calling the tune for gold, trading the recent range, buying on dips, selling on …
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Ethereum: Melonport fills its CHF2.5m token issuance in under three minutes
But hedge funds have been suffering poor returns lately … partner to offer gold token debit cards Ethereum studio ConsenSys to build blockchains in Dubai Qtum is building bridges between Bitcoin, Ethereum, Hyperledger, R3 Corda
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Dubai Financial Market : Damac sees Q4 profit edge up 1.3%
The Dubai developer Damac saw profit rise by 1.3% in the last quarter of 2016, as the property market in the emirate ‘stabilised’. The developer reported a net profit of AED 854.6 million dirhams ($232.7 million) for Q4, up from AED 844 million the …
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