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Thursday, 14 July 2016

DP World chief Sultan bin Sulayem on growth in India, Iran and prospects around the world | The National

DP World chief Sultan bin Sulayem on growth in India, Iran and prospects around the world | The National:

"The ports operator DP World says that it remains ­positive on the medium- and long-term outlook for the industry in an environment of slower global trade and low oil prices.

Sultan bin Sulayem, its chairman and chief executive, highlights key markets for the company’s growth, including in India where it will spend more than US$1 billion over the next few years and in Russia where it has a US$2 billion joint venture planned. He also says it is “business as usual" after the UK voted to leave the European Union."



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UAE business credit growth slowed in Q2, says Central Bank | The National

UAE business credit growth slowed in Q2, says Central Bank | The National:

"UAE banks were less willing to extend loans to corporations and small businesses during the second quarter of the year compared with the first, according to the central bank’s quarterly credit sentiment ­survey.

Lenders were also hesitant about giving loans to individuals, but at the same time demand for loans eased across the board amid a slowdown in economic growth.

That trend is expected to continue after a recovery in the first quarter and comes despite a rebound in oil prices this year, the central bank said."



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Qatar Airways agrees to buy 49% stake in Italy’s Meridiana | GulfNews.com

Qatar Airways agrees to buy 49% stake in Italy’s Meridiana | GulfNews.com:

"Qatar Airways agreed on Thursday to buy a 49 per cent stake in Meridiana, bringing months of negotiations to a close and likely saving the Italian airline from financial collapse.

Qatar Airways has signed a “contribution and shareholders agreement” with Meridiana parent company Alisarda at the Farnborough Airshow in the United Kingdom, the Doha-based carrier said on its website, without disclosing the value of the deal.

“This agreement sets the path to progress our work towards a strong resolution that benefits both the staff and passengers who travel with Meridiana fly,” Qatar Airways group chief executive Akbar Al Baker said."



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MIDEAST STOCKS-Gulf markets hold steady amid low oil prices | Reuters

MIDEAST STOCKS-Gulf markets hold steady amid low oil prices | Reuters:

"Gulf markets were mixed on Thursday as investors treaded with caution after oil prices dropped the day before, dampening sentiment for riskier asset classes.

Uncertainty weighed on regional stocks in the hours before the Bank of England's first policy meeting since Britain voted to leave the European Union.

The Bank's decision to hold rates steady came after Gulf bourses had closed but Riyadh and Cairo were still trading."



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MIDEAST STOCKS-Gulf markets slip as investors pause ahead of global events | Reuters

MIDEAST STOCKS-Gulf markets slip as investors pause ahead of global events | Reuters:

"Gulf shares traded lower on Thursday after two days of gains as investors paused ahead of expected economic policy moves in major global markets.

The Bank of England is due to make its first post-Brexit policy decision on Thursday, with analysts expecting the Bank to cut interest rates to a record low to calm markets.

This, coupled with expectations of further economic stimulus this month in Japan, has revived risk appetite among global investors, pushing funds into emerging markets including the Gulf. All traded higher in the previous two days."



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How Middle East Bond Sales May Impact Ratings - Bloomberg

How Middle East Bond Sales May Impact Ratings - Bloomberg:




"Benjamin Young, ratings analyst at S&P Global, discusses sovereign ratings in the Middle East and North Africa, the most vulnerable countries and how bond sales in the region may impact ratings. He speaks to Yousef Gamal El-Din and Angie Lau on "Bloomberg Markets Middle East.""



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Low oil price and austerity overshadow Eid in Saudi Arabia - FT.com

Low oil price and austerity overshadow Eid in Saudi Arabia - FT.com:

"After weeks of fasting, affluent Saudis typically spend, feast and travel as they celebrate Eid to mark the end of the holy month of Ramadan.
Families gather in gleaming malls from Riyadh to Jeddah, picking up bargains and eating at restaurants."



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