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Friday, 10 July 2015

Suspend belief in China's markets | Short View - YouTube

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WCT overcomes final hurdle in Dh1bn legal claim against Meydan | The National

WCT overcomes final hurdle in Dh1bn legal claim against Meydan | The National:



"The Malaysian contracting company WCT on Wednesday won its long-running dispute with the developer Meydan Group over the construction of the Nad Al Sheba racecourse in Dubai.



WCT said that it had been awarded by the Dubai International Arbitration Centre (Diac) a final settlement in the case worth Dh1.1 billion, as well as arbitration costs of Dh8.2 million and legal costs of Dh26.7m.



The Malaysian group and its 50-50 joint venture partner Arabtec were awarded a Dh4.6bn contract to build the racecourse by Dubai-based Meydan Group in 2007. The contract was due for completion in October 2009."



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Kuwait fiscal reserves hit record $592b: report | GulfNews.com

Kuwait fiscal reserves hit record $592b: report | GulfNews.com:



"Kuwait’s financial reserves defied a slump in oil prices to hit a record 179.2 billion dinars ($592 billion) at the end of the 2014-15 financial year, a report said Thursday. 




They grew by $53 billion in the year to March 31, Al-Qabas newspaper reported, citing figures released by Finance Minister Anas al-Saleh to a closed session of parliament last week.



Kuwait normally does not reveal the size of its assets most of which are invested abroad, mainly in Europe and the United States."



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New Brics bank to look at local, international borrowing — president | GulfNews.com

New Brics bank to look at local, international borrowing — president | GulfNews.com:



"The New Development Bank being launched by the Brics group of emerging economies plans to raise money both on local markets and internationally, its president said on Thursday.



The bank, with an initial capital of $50 billion, is being introduced at an organisational summit the Brics countries — Brazil, Russia, India, China and South Africa — in the Russian city of Ufa.



The summit is a showcase for Russian President Vladimir Putin, and comes at a time when Moscow’s ties with the West are strained because of the Ukraine crisis."



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