EGYPT: BANQUE MISR TO SIGN A 150B USD LOAN WITH ABU DHABI ISLAMIC BANK.

Banque Misr in Eqypt has announced plans to sign a loan with Abu Dhabi Islamic Bank-Egypt (ADIB) to aid the Banque Misr in strengthening is financial status and dollar liquidity. The loan which is estimated to be worth 150 million USD is expected to be signed off during the second quarter of the 2016/2017 financial year.

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UAE’s largest lender to open 1st branch in India following Dh7.24b net profit in 2016

United Arab Emirate’s largest lender, Emirate NBD has released that it encountered a 3 per cent reduction in total income, and 1 per cent decline in net interest income for the 2016 financial year compared to previous year. On the positive, the bank gained a number of boost when comparing 2016 financial year to 2015. At the end of 2016, net profit was at Dh7.24 billion, total assets at Dh 448.0 billion, customer loans at Dh290.4 billion, Customer deposits at Dh310.8 billion, which represents 2%, 10%, 7%, 8% increment respectively.

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ABU DHABI GRANTS JAPAN 25 YEARS ACCESS TO OFFSHORE OILFIELDS

Last Monday, Japan’s economy, trade, and industry ministry announced that it has extended its oil rights in Abu Dhabi, UAE – the second-largest supplier of crude oil for Japan.

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EMAAR PROPERTIES LAUNCH NEW PROJECT ‘CREEK GATE’.

Source: Emaar Properties.

This week, Dubai Creek Harbor will see a new residential project called the ‘Creek Gate’ by Emaar Properties PJSC. The new residential project which is anticipated to be completed in 2020 will have unit sizes ranging from 645 square feet to 1,490 square feet, and an up rise tower. With regards to the ‘Creek Gate’, Emaar Properties PJSC is going to cater for 50 percent out of the four per cent Dubai Land Department’s off plan preliminary registration cost. From the project brochure of the Dubai Creek Harbor will boast of the world’s next tallest structure ‘The Tower’, upon completion. The Dubai Creek Harbor, a multi-purpose development which is co-developed by Emaar and investment company Dubai, and planned by RTKL – United States Architectural practice, is a sign of Emaar Properties growing presence and brighter prospects.

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Emirates Insolaire to Expand as Solar Market Grows in GCC

Dubai Investments, the world-class company investing in profitable entities and the largest investment company listed on Dubai Financial Market is aiming at a substantial growth in the ever increasing solar energy trends across the UAE through Emirates Insolaire LLC. Since late 2014, renewable energy has continuous growth in investments and advancement in the solar technology.

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Saudi Arabia Launch New Program to Invest $50b in Renewable Energy

Gulf Council Countries renewable energy targets have been reported to have the potential of creating an average of 140,000 direct jobs per year. The report which was published last year by International Renewable Energy Agency (IRENA) on renewable energy market analysis in the Gulf Council Countries (GCC) region sees an appreciable growth of renewable energy in the region and also declares Saudi Arabia as the world’s seventh largest oil consumer and the world’s largest oil exporter, thus making it an oil dependent economy. However, the country has declared plan to diversify its economy by depending on more green technology and sustainable sources.

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Reasons Why the Keys to the UAE’s Future is Innovation Not Oil

The leaders of the United Arab Emirates (UAE) take innovation seriously.  In just over 10-years they have tried to remake the country.  Projects include massive skyscrapers, new airports, world-class hospitals, and education promotion zones to name a few.   But this is only the beginning.  The country, which is still less than 50-years-old, has set a goal to be ranked among the top 20 most innovative countries in the world by 2021.  While the goal is commendable, what are the reasons?  After all, isn’t the country oil rich?

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A.M. Best Briefing: GCC Insurers Must Monitor Impact of Changing Terms for High-Rise Property Insurance

Insurers in Gulf Cooperation Council (GCC) markets are coming under pressure to increase retention levels for high-rise buildings to demonstrate their alignment of interests with those of reinsurers, according to new research by A.M. Best.

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Tourist Court to be instituted in Abu Dhabi

In previous reports, I had reiterated the growing tourism sector in the United Arab Emirates. This has accordingly expanded other sectors including real estate, hospitality, and recreational centers, and additional infrastructural developments which keeps attracting tourists. This is also increasing the number of expatriates in the region.

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Launching GCC’s specialised conference for Future Play & Playspaces

17-18 April 2017

Advanced Conferences & Meetings (ACM) is launching Future Play & Playspaces GCC Conference on 17-18 April 2017 in Dubai, UAE.

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Launching Future Drainage & Stormwater Networks KSA Seminar

17-18 April 2017

Advanced Conferences & Meetings (ACM) is launching Future Drainage & Stormwater Networks KSA Seminar on 17-18 April 2017 in Riyadh.

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Identifying new opportunities in Qatar’s parking industry

10-11 April 2017

Advanced Conferences & Meetings (ACM) is launching Smart Parking Qatar conference in its second successful edition, on 10-11 April 2017 in Doha.

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