Mena News

 

  Jordan’s public debt rises to JOD 17.323bln till June-end
Sep , 17 , 2013  
  Jordan’s net public debt rose in July to reach JOD 17.323 billion, with an increase of 4.5% (JOD 742 million) compared with JOD 16.581 billion at 2012-end. The country’s public debt accounted for 72.21% of gross domestic product. According to data released by the Finance Ministry, the country’s internal debt netted JOD 11.952 billion, or 49.82% of GDP, compared with JOD 11.649 billion at year-end. Meanwhile, Jordan’s net external debt exceeded JOD 5.370 billion at the end of H1-13, or 22.39% of GDP.
 

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  EAG plans to expand globally
Sep , 17 , 2013  
  Emirates Aluminium Global (EAG), which is under formation, aims to become an international aluminum conglomerate with interests ranging from bauxite mining to aluminum refining and carbon production.
 

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  First Gulf Bank plans to buy Barclays' UAE arm
Sep , 17 , 2013  
  According to company sources, First Gulf Bank, the UAE's third largest bank, may look to buy Barclays' retail banking operations in the Emirate.
 

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  Abu Dhabi zone signs deal with Brazilian food company
Sep , 17 , 2013  
  Khalifa Industrial Zone Abu Dhabi (Kizad) signed a new musataha agreement with Brasil Foods (BRF), South America’s largest food processing company and the producer of Sadia.
 

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  Dubai Investments partners with Dubai Exports
Sep , 16 , 2013  
  Dubai Investments (DI) teamed up with Dubai Exports to reinforce its growth strategy in export markets.
 

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  Investcorp’s Gulf Opportunity Fund acquires 25% stake of Leejam
Sep , 16 , 2013  
  Investcorp's Gulf Opportunity Fund acquired a 25% minority stake in Leejam, the leading health and fitness club management company in Saudi Arabia.
 

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  Gold rises, but posts loss for the week
Sep , 16 , 2013  
  Gold prices ended higher on Friday, driven by some late bargain hunting. However, the precious metal posted almost a 5% loss for the week on easing tensions over Syria and speculation of the Fed commencing its QE tapering. Gold prices rose 0.5% to USD1,326 an ounce on the NYMEX.
 

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  Emaar launches serviced residences project
Sep , 16 , 2013  
  Emaar Properties launched 'The Address Residence Fountain Views III,' a fully furnished serviced residence project in Downtown Dubai.
 

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  Siemens receives USD240mn KNPC contract
Sep , 16 , 2013  
  Global electronics and electrical engineering giant Siemens won a turnkey contract from Kuwait National Petroleum Co (KNPC) to supply high-voltage substations for its refineries.
 

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  Fitch upgrades Tamweel to 'A'
Sep , 15 , 2013  
  Fitch Ratings upgraded UAE-based Tamweel PJSC's long-term Issuer Default Rating (IDR) to 'A' from 'BBB+', short-term IDR to 'F1' from 'F2', and Support Rating to '1' from '2'. Fitch has simultaneously withdrawn Tamweel's ratings.
 

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