Monday , 23 October 2017
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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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Arabtec Construction awarded main contract to build UAE Pavilion at Expo 2020 Dubai

The National Media Council, the government entity responsible for building and operating the UAE Pavilion at Expo 2020 Dubai, has announced that Arabtec Construction, a wholly owned subsidiary of Arabtec Holding, has been awarded the main contract to build the national pavilion. Arabtec Construction squared off against three local and international companies in the final round with nine companies bidding …

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Abu Dhabi Global Market and China’s Qianhai Authority partner to promote investment and FinTech cooperation

The Financial Services Regulatory Authority, FSRA, of Abu Dhabi Global Market, ADGM, and the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, Qianhai Authority, have entered into a new partnership to develop and promote closer investment and financial innovation opportunities and collaborations for enterprises in Qianhai, Hong Kong and Abu Dhabi. In support of China’s One Belt One …

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Etihad hub Abu Dhabi International Airport sees slower passenger growth this year

Etihad Airways’ hub Abu Dhabi International Airport expects a slowdown in the pace of passenger growth this year, the acting chief executive of operator Abu Dhabi Airports said on Monday. The United Arab Emirates’ second busiest commercial airport expects to handle “around 25 million” passengers in 2017 compared with 24.5 million in the previous year, Abdul Majeed al-Khoori told Reuters …

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