DFM announces full readiness to introduce Delivery versus Payment
(AME Info
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31/01/2011)
Dubai Financial Market announced today its full readiness to introduce the new settlement mechanism "Delivery versus Payment" (DvP). DFM has completed all the technical requirements to apply DvP in coordination with custodians and brokerage firms. The
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Dubai Investments reports Dhs805m net profit
(AME Info
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31/01/2011)
Dubai Investments PJSC ("DI"), an investment company with diversified interests in high growth segments, today announced its preliminary unaudited financial results for the year ended December 2010, with a net profit of Dhs805m. Revenues for the year
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Dubai Investments Q4 net profit drops 36pc
(Reuters
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30/01/2011)
UAE conglomerate Dubai Investments reported a 36 per cent drop in its fourth-quarter profit, as revenues for 2010 fell as the local economy remained weak after the burst of the asset bubble two years ago. Dubai Investments, which is involved in sectors
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Waha Capital profit rises 15% on renewed business activities
(Khaleej Times
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26/01/2011)
Waha Capital has reported a 15 per cent year-on-year increase in net profits for the 12-month period ending December 31, 2010. Profitability resulted from the company’s continued growth and improved performance across the business units, derived from
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Finance House announces 2010 net profit of Dhs115.1m
(AME Info
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26/01/2011)
Abu Dhabi-based Finance House P.J.S.C announced the results for the financial year ended 31 December 2010, achieving a net profit of Dhs115.1m compared to Dhs112.4m for the previous year. This translates to an earning of 42 fils per share compared to 41
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TID Coordinating Committee announces circulated document purpose
(Al Watan
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26/01/2011)
The Coordinating Committee of the banks and investors of The Investment Dar K.S.C.C. (TID) notes with regret that a confidential discussion document dated Jan.21, 2011 intended for the exclusive consideration of the banks and investors to TID has been
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Abu Dhabi's Waha Capital 2010 Net Profits Rise 15%
(QNA
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25/01/2011)
Abu Dhabi-based Waha Capital company today reported a 15% increase in unaudited net profits for the 12-month period ending December 31, 2010. Profitability resulted from the company''s continued growth and improved performance across the business units,
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Waha Capital net profit surges 15pc
(Reuters
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25/01/2011)
Abu Dhabi-listed Waha Capital posted a 15 per cent rise in 2010 profit on restructuring and consolidation of operations that drove higher improved revenues, triggering a 2.5 per cent rise in its shares. The net profit reached Dh249 million ($67.8
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Tamweel introduces promotional home finance profit rates
(AME Info
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24/01/2011)
Tamweel PJSC, the UAE Islamic home finance provider, announced today the launch of a promotional finance offer starting at just 4.99% per annum. Financing is available for up to 80% of the current value of ready residential properties in Dubai and Abu
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Moody's says Tamweel RMBS stable
(Business 24|7
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21/01/2011)
Moody's Investors Service said it had conducted a portfolio review of Tamweel’s residential mortgage backed securities (RMBS) and found it stable. The ratings agency said in a statement that Tamweel ABS (CI) 1 experienced no losses so far with 90+
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ALAFCO's Q1 net profits equal to KD 21.8 million
(Al Watan
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19/01/2011)
Kuwait's Aviation Lease and Finance Company ALAFCO announced its financial results for the first quarter of the current fiscal year that ended 31 December 2010. The company earned a net profit of 21.8 million Kuwaiti dinars during the period, increasing
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Dlala Net Profit QR 13.1 Million in 2010
(QNA
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19/01/2011)
Qatar Dlala Holding Company discloses the financial statements for the year ended December 31, 2010. The financials revealed a net profit of QR 13.1 million in 2010 versus net loss of QR 956 thousands in 2009. The company’s Earnings per share (EPS)
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TID, Coordinating Committee meets with banks, investors
(Al Watan
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18/01/2011)
The Investment Dar (TID) (KSCC) together with its reconstituted Coordinating Committee met with its banks and investors in Dubai to discuss the latest status on the Company's business and investments and to present fresh ideas on potential enhancements
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KCIC acquires AGP for nearly $40 million
(KUNA
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16/01/2011)
The Kuwaiti-Chinese Investment Company (KCIC) announced Saturday that it had acquired the Philippines-based engineering and construction company Atlantic Gulf Pacific (AGP) for 1.75 billion Philippine peso (39.7 million US dollars). KCIC, along with a
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Investcorp partners with New York fund
(Reuters
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16/01/2011)
Investcorp, the Bahrain-based alternative asset manager, has signed a partnership with New York hedge fund manager Ballast Capital Management to widen its hedge fund offerings, it said on Sunday. Investcorp said its clients will now be able to access
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Finance House and NBB ink funding accord
(Khaleej Times
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16/01/2011)
Finance House and National Bank of Bahrain (NBB) have signed a financing agreement for a 3-year medium size revolving funded facility that will be used to fund the growth of former’s lending book and meeting general working capital requirements. The
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Abu Dhabi firm secures NBB funding
(Trade Arabia
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15/01/2011)
Abu Dhabi-based Finance House (FH) said it has signed a financing agreement with National Bank of Bahrain (NBB), one of the region’s leading banks, for a three-year revolving funded facility. Finance House said it aims to use this medium term NBB
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Banks sell Investment Dar, Arcapita loans
(Business 24|7
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15/01/2011)
Banks reduced their exposure to Bahraini investment house Arcapita and Kuwaits Investment Dar by selling syndicated loans at distressed levels this week, loan traders said. A $25 million piece of Investment Dars loan was traded on Friday and a $30
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Moody’s reaffirms its rating for Al Omaniya Financial Services
(Oman Daily Observer
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12/01/2011)
Moody’s Investors Service reaffirmed Global Scale Rating to Al Omaniya Financial Services (AOFS). The company has been assigned Ba3 long-term local and foreign currency issuer ratings. The rating carries stable outlook. Moody’s notes that AOFS ratings
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ABG awards key deal to Arabtec
(Gulf Daily News
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11/01/2011)
Al Baraka Banking Group (ABG) has awarded the contract for the construction of its group headquarters in Bahrain Bay to Arabtec Construction Company. The contract was signed by ABG president and chief executive Adnan Ahmed Yousif, and Arabtec
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Albaraka signs deal for construction of new HQ in Bahrain
(CPI Financial
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11/01/2011)
Adnan Ahmed Yousif, Chief Executive of Albaraka Banking Group and Riad Kamal, Managing Director and Chief Executive Officer of Arabtec Construction signed the deal for the bank’s new offices in Bahrain Bay Adnan Ahmed Yousif said, “The new building is
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Dar restructuring boost
(Trade Arabia
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10/01/2011)
The co-ordinating committee of The Investment Dar (TID), set up to restructure the financial institution, now includes Jordan International Bank, ABC Islamic Bank, Lloyds TSB, Al Rajhi Bank, the Islamic Development Bank and the Kuwait branch of Bank of
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Shuaa expects Dubai World deal by March
(Agencies
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10/01/2011)
Dubai World is expected to sign off its debt-restructuring deal with creditors in February or March at the latest, Chief Executive Officer of Shuaa Capital said on Sunday. “The debt restructuring deal is finalised but the signing off is expected in
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Dar restructuring boost
(Gulf Daily News
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10/01/2011)
The co-ordinating committee of The Investment Dar (TID), set up to restructure the financial institution, now includes Jordan International Bank, ABC Islamic Bank, Lloyds TSB, Al Rajhi Bank, the Islamic Development Bank and the Kuwait branch of Bank of
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Shuaa plans to expand brokerage as rivals close
(The National
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10/01/2011)
Shuaa Capital, the largest domestic investment bank in the UAE, is to expand its brokerage business as other share dealers fail amid huge declines in trading volumes on the country's exchanges. The strategy is one element of Shuaa's bid to overcome big
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