Monday , 23 October 2017
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Plans moving forward for the European Union’s ‘House of Europe’ in Dubai

Plans to build a commercial property in Dubai for the European Union (EU) are currently underway with a construction tender expected next year, the project’s developer, Kleindienst Group, has said. The venture, currently awaiting building permission, is designed to be a ‘wood-only’ high-rise in the United Arab Emirates (UAE). Thomson Reuters Projects reported in July last year that Dubai-based developer …

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Several billions of US dollars in investments announced during the Morocco – Gabon 2017 Forum

Two delegations of Moroccan businessmen are expected in Gabon within the next few weeks The Morocco – Gabon Forum which has just ended in Rabat was the occasion for the Moroccan companies and investors to announce their intention to invest several billions of US dollars in Gabon in the sectors of Infrastructures, the numerical Economy, Agro-industrial industry and the sanitary …

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EIB conference in Egypt calls for private sector to lead new push for investments in the Mediterranean region

The EU bank provided finance of EUR 1070.6 million in 2016 to support private sector development in the southern Mediterranean region. The drive for jobs and growth in the Mediterranean region should be led by the private sector. This was the call today, as the European Investment Bank (EIB) held an international conference in Cairo dedicated to “Boosting investments in …

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Saudi Arabia, UAE salary increases highest in GCC

Saudi Arabia, followed by Kuwait and the UAE continue to lead the region in salary increases in 2017, according to a new survey. The GCC-wide survey of 600 multi-national companies and locally-owned conglomerates by Aon, also showed that Saudi Arabia and Kuwait have the highest salary increase projections for 2018, at an optimistic 4.5 per cent. The data showed that, …

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China State to help revive stalled Dubai Motor City project

Union Properties has signed a memorandum of understanding (MoU) with China State Construction Engineering Corporation (CSCEC) to expedite the build-out of its revived Motor City project. The companies signed an agreement at Dubai Cityscape Global real estate exhibition to build out the whole of the project. This will cost 8 billion dirhams $2.2 billion) and will be completed within four …

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The MIT Enterprise Forum (MITEF) for the Pan Arab Launches the Second Edition of Innovate for Refugees

Promoting a culture of entrepreneurship to find innovative technology solutions for refugee challenges The MIT Enterprise Forum (MITEF) for the Pan Arab announced the launch of the second edition of Innovate for Refugees. The MIT Enterprise Forum inaugurated the registration process of the competition on the 21st of August to extend till the 27th of November, 2017, after which the …

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Sharjah to develop $816mln pedestrian-friendly community

Alef Group, a key UAE-based real estate company, is set to develop a new pedestrian-friendly residential community, ‘Al Mamsha’ at an estimated cost of Dh3 billion ($816 million) in Al Juraina area of Sharjah. Al Juraina area is in close proximity to Sharjah University City and Sharjah International Airport, about 15-20 minutes drive from Sharjah city centre and 20-30 minutes …

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Saudi reform tweaks won’t affect key economic policies

Saudi Arabia is revising parts of an economic development plan released a year ago but key policies, including fiscal reforms and a massive privatisation programme, won’t be affected by the review, sources familiar with the matter told Reuters. In June 2016, the government published a National Transformation Programme (NTP) that included hundreds of steps to modernise the economy and society, …

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China’s Legend strikes $1.8bln deal to buy Luxembourg’s BIL bank from Qatari investors

China’s Legend Holdings struck a deal on Friday to buy a 90 percent stake in Banque Internationale a Luxembourg (BIL) from Qatar’s royal family for 1.48 billion euros ($1.76 billion), marking its biggest overseas acquisition. Legend, owner of computer group Lenovo Group Ltd , is acquiring 161-year-old BIL from Precision Capital, an investment vehicle of Qatar royal family members including …

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China’s ICBC in talks with Gulf governments, firms on yuan bonds

Industrial and Commercial Bank of China is talking to governments and state-linked entities in the Gulf that are interested in issuing yuan-denominated bonds in China, said an executive at ICBC, China’s largest bank. One government entity is in the process of applying to issue such instruments, known as panda bonds, which would make it the first issuer from the Middle …

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