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Qatar headed to Arab economic summit

Qatar’s emir will visit Beirut on Sunday for an Arab economic summit which has been marred by regional rifts and internal Lebanese disputes even before it began. Lebanese President Michel Aoun’s office said on Saturday Sheikh Tamim bin Hamad Al Thani had informed it he would come to lead the …

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UAE banks weather financial storms

UAE banks’ reserves and allocations were stable during October and November 2018 in yet a new testament to the resilience of the banking sector. According to the Central Bank of the United Arab Emirates’ statistics, total assets held by UAE banks jumped to AEE2.854 trillion by the end of November, …

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UAE-Italy talks on economic cooperation

The Ministry of Economy discussed the means of strengthening of the UAE’s economic and trade relations with Italy, as well as developing the cooperation between both sides in several commercial areas, to achieve the mutual interests of both countries. The discussion took place during a meeting between Abdullah Alfan Alshamsi, …

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Israeli high-tech companies being acquired

Acquisitions of Israeli high-tech companies totaled $11.1 billion in 2018, up from $6.3 billion in 2017, boosted by four deals valued at more than $1 billion, a report released on Tuesday showed. The number of transactions however dropped 20 percent to 89 last year, according to the report by the …

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DP World aquiring port in Chile

Major port operator DP World DPW.DI said on Sunday it had agreed to acquire a 71.3 percent stake in Chile’s Puertos y Logistica (Pulogsa) (PUE.SN) from Minera Valparaiso and other shareholders associated with the Matte Group. Pulogsa operates a long-term concession for Puerto Central in San Antonio and owns and …

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Bank reserves on rise in UAE

Total banks’ reserves at the Central Bank of the United Arab Emirates increased to AED283.4 bn by the end of November 2018, a growth of 4.3 percent from AED271.6 bn during the same month of 2017. The growth reflects the robust solvency position of the UAE banking sector and its …

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