Saturday , 20 October 2018

Business

Dubai developer Nakheel targets growth in recurring revenue

Property developer Nakheel wants recurring income to increase to more than 50 percent of all revenue by 2021 as it opens more shopping malls in Dubai, its chairman told Reuters. Nakheel, the developer of the palm shaped islands in the emirate, expects leasable retail space to more than triple to 17 million square feet in the next three to five …

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Females first: Study shows women are more successful than men at raising money through crowdfunding

Female-led crowdfunding campaigns are more likely to reach their funding targets than male-led ones, a new study published last week by consultancy firm PwC has discovered. An analysis of over 450,000 crowdfunding campaigns by nine of the world’s largest crowdfunding platforms showed that female-led campaigns were 32 percent more successful at reaching their funding target than male-led campaigns. “Even in …

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MIDEAST STOCKS-Banks pull Qatar higher, big Mobily loss weighs on Saudi

Banks pulled Qatar’s stock market higher in early trade on Monday while Saudi Arabia’s market edged down after a string of second-quarter earnings, with telecommunications firm Mobily plunging on a bigger-than-expected loss. The Qatari index added 0.4 percent as Qatar National Bank climbed 1.0 percent and Masraf Al Rayan rose 0.8 percent. Qatar International Islamic Bank gained 1.4 percent after …

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Mideast deal activity picks up in Q2 2017

Despite a backdrop of continued political turbulence, cross-border dealmaking held steady globally in Q2 2017, with the Middle East seeing a substantial uptick in deal activity, according to Baker McKenzie’s Cross-Border M&A Index. Middle East cross-border deal-making picked up in Q2 2017, with the Middle East Index increasing to 201.5, withstanding the continuing political and economic uncertainty in the region …

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Kuwait Finance House studying merger with Bahrain’s Ahli United Bank

Kuwait Finance House studying merger with Ahli United Bank Big-ticket mergers: GCC banks should consider more consolidations Three-way bank merger in Qatar aims to close by year end -sources DUBAI, July 18 (Reuters) – Kuwait Finance House (KFH) is looking to merge with Bahrain’s Ahli United Bank , Kuwait’s biggest Islamic lender said in a statement on Tuesday, confirming an …

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Abu Dhabi’s ADNOC in talks with potential Asian partners

Sultan Al-Jaber, the group chief executive of Abu Dhabi National Oil Company (ADNOC), has met with potential and existing partners in Asia as the company looks eastward as part of its new strategic partnership approach. Al-Jaber discussed with his counterparts from China and Japan “new partnership and co-investment opportunities created through ADNOC’s new approach, as well as the deepening of …

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IMF: Saudi Arabia’s ‘bold’ reforms see non-oil sector pick up

  Saudi Arabia’s “bold reform program” is paying off, with economic growth in its non-oil sector forecast to pick up this year, the International Monetary Fund (IMF) said Friday. Growth in non-oil parts of the economy is projected at 1.7 percent in 2017 compared to 0.2 percent last year, the fund said, amid the Kingdom’s efforts to diversify the economy …

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Emirates and flydubai join forces, announce extensive partnership agreement

Passenger benefits to include access to over 200 unique destinations, seamless travel experience and frequent flyer programmes alignment Partnership includes an expansive codeshare agreement, schedule alignment and network optimisation Passenger benefits to include access to over 200 unique destinations, seamless travel experience and frequent flyer programmes alignment Both airlines to continue being managed independently Emirates and flydubai (www.flydubai.com) today unveiled …

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AfDB, Islamic Development Bank sign new $2b deal to fund energy, SMEs, human development programs

The African Development Bank (AfDB) and the Islamic Development Bank (IsDB) have signed a landmark agreement to strengthen partnership at country level. Both parties have agreed to jointly pull together the sum of US $2 billion over the next three years to finance projects in agriculture and food security, renewable energy, small and medium enterprises, and human development (health and …

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Saudi Arabia to host 2020 G20 summit

Jeddah – Saudi Arabia will host the G-20 Summit in 2020, said an official statement issued on Saturday at the end of this year’s event in Hamburg, Germany. “We thank Germany for hosting a successful Hamburg summit, and look forward to meeting again in Argentina in 2018, in Japan in 2019 and in Saudi Arabia in 2020,” AFP quoted the …

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