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Friday, 23 December 2011

I wanna Express (iWep): Google Search Trends for Banks in UAE - 2011

A known fact - people in need of Financial Services flock to the Internet to conduct their preliminary research. A largely ignored fact - Online Sentiments determine the demand and supply in the 'offline' world and online research helps the customers make their purchase decisions. An excellent example of Sentimental Analysis is; how Google Index trends along with the UAE's housing pricing index to show fall in online searches when the property bubble burst.Search engines are one of the most popular ways for people to conduct their research for financial products. Google being one of the most popular search engines is able to give data on customer's online behavior and their search habits.

I have used few queries to determine the Google search habits of people in UAE. The below analysis is on Google using 'Rising Searches' and 'Top Searches' for Financial Services Industry in UAE. According to Google "Rising searches highlight searches that have experienced significant growth in a given time period, with respect to the preceding time period" and "Top searches refers to search terms with the most significant level of interest." The below data could be used in planning your online acquisitions, positioning your products/channels online, competitor analysis, understanding customer behavior etc.

Quick View: Saudi Nominal GDP to Hit 29% In 2011-KAMCO | alifarabia

Kuwait-based KAMCO sheds light on the future economic outlook of the GCC based on 2011 and 2012 GDP growth expectations. In addition, the report incorporates growth analysis of consumer loans in Saudi Arabia, Qatar and Kuwait for 9M-11. GDP in Saudi Arabia, Qatar and Kuwait is expected to post growth rates for 2011 and 2012, by 29% and 7% in Saudi Arabia, 35% and 7% in Qatar, while Kuwait is expected post growth of 25% and 12%, respectively, supported by the growth in oil GDP.

Meanwhile, consumer loans will be the main driver of GCC credit markets in the coming years in addition to borrowing to fund infrastructure projects, trade and finance as well as real estate, especially in Saudi Arabia where population growth is spurring housing demand. In Saudi Arabia, consumer loans and credit cards form 27% of the credit portfolio of banks at SAR 838 bn (USD 223 bn), a growth of 10% in 9M-11. As for Qatar, consumer loans represent 17% of banks’ credit portfolio at QAR 364 bn (USD 100 bn) at a growth rate of 11% for 9M-11, while in Kuwait, personal loans (consumer loans excluding loans for the purchase of securities) make up 24% of banks’ credit portfolio at KWD 6.2 bn (USD 22 bn).

Dubai's DIFC Investment says repays Deutsche Bank loan | Reuters

DIFC Investments (DIFCI), the investment arm of the firm that runs Dubai's financial free zone, said on Friday it had repaid in full $200 million to Deutsche Bank under the terms of a loan facility.

"The repayment is positive news, and is evidence of our commitment to meet our debt obligations as and when they fall due," Shahli Akram Juma, Managing Director of DIFCI, said in a statement sent to Reuters.

"We remain focused on progressing our plans regarding the Sukuk commitment and we are confident of achieving a successful conclusion."

Wolf Richter: CEO of Dexia – ‘Not A Bank But A Hedge Fund’ « naked capitalism

Dexia SA, the Franco-Belgian mega-bank that collapsed and was bailed out in 2008 and that re-collapsed in early October, is a big deal in Belgium where it employs 10,000 people and has over 21 million bank accounts. Its assets of $715 billion dwarf Belgium’s $395 billion economy.
The three countries involved in the bailout agreed in October to guarantee €90 billion in loans, of which Belgium will be responsible for 60.5%, France for 36.5%, Luxembourg for 3%. Belgium’s portion, €54.5 billion, represents nearly 14% of its GDP. The process is moving forward. On December 21, the European Commission approved on a temporary basis €45 billion of those guarantees though they violate EU rules on government subsidies for private companies.
Taxpayers are paying a heavy price for Dexia’s bailout. Belgium nationalized the Belgian entities of Dexia, including untold amounts of toxic assets. The French entity, which was involved in an enormous subprime scandal à la française, was taken over by the Caisse des Dépôts and the Banque Postale—both owned by the French government. Precision Capital, a Luxembourg company controlled by Qatari investors, bought 90% of Dexia Bank International Luxembourg, valuing the firm at €730 million, a steep discount from the expected €1 billion. Luxembourg acquired the remaining 10%. Other entities remain on the block.

Egypt: the unfinished revolution | beyondbrics –

Egypt is still struggling with the consequences of the uprising that toppled president Hosni Mubarak. The early hopes of the those who joined in the Arab Spring have not been fulfilled in a country wracked by political tensions and growing fears about its economic stability.

The young pro-democracy activists remain stubbornly committed to their cause, becoming heroes of civil disobedience. But with the generals holding on to power, the country is in crisis.

As an FT special report on Egypt shows, the economy is in a shambles, sectarian violence between Coptic Christians and Muslims is rife, the ruling army council has reverted to tactics used under Mubarak, and the popularity of Islamist groups has raised doubts about Egypt’s commitment to secularism.

Dubal CEO: No immediate bond plans, open to M&A - Yahoo!

Dubai Aluminium (Dubal) has no immediate plans to issue bonds, its chief executive officer told Reuters on Thursday.
"For the time being, I don't see it. Maybe if things start to materialise on some of our projects then it's possible," Abdulla Kalban said on the sidelines on a conference.
Dubai's ruler issued a decree last month to help Dubal become more competitive by being able to engage in investments outside the country and issue bonds.

UK's EIIB in talks with Rasmala over stake

European Islamic Investment Bank confirmed it was talking to Rasmala Holdings Limited about an investment, after two sources told Reuters the group was in talks to buy a 30 percent stake in its Dubai-based Rasmala Investment Bank unit.
In a statement to the London Stock Exchange on Thursday, EIIB confirmed it was in talks with Rasmala Holdings Limited "in relation to an investment", adding it expected to be "in a position to update the market early in the New Year."
The acquisition, which is set to be completed in early 2012, will be made through a fresh issue of shares by Rasmala which EIIB will buy, two sources with knowledge of the matter had told Reuters earlier.