Middle East Investment 2013

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Bahraini bank AUB seeks to complete Gulf jigsaw with M&A

MANAMA Bahrain-based Ahli United Bank (AUB) is looking for acquisitions in its existing markets and in new ones as it tries to build a network across the Middle East, its chief executive said.

Bank of Fujairah plans growth as northern emirate prospers

DUBAI National Bank of Fujairah (NBF) may open trade finance offices in Africa as part of an expansion of foreign business that is taking the bank far from its roots in one of the more remote, less developed parts of the United Arab Emirates.


Saudi work reforms lifting womens' income boost retailer Jarir

RIYADH Saudi labor reforms to nudge more local people and notably women into jobs once held by expatriates have raised consumer spending and boosted revenue for retailers, Muhammad al-Agil, chairman of Jarir Marketing Co , said.

Lebanon needs $2.6 billion to counter Syria war impact

BEIRUT Lebanon will need $2.6 billion in budget support over a three-year period to help it overcome the impact of the civil war in neighboring Syria, caretaker Finance Minister Mohammed Safadi said on Wednesday.


Dubai land department chief says old, new steps to prevent bubble

DUBAI Dubai will strictly enforce existing rules and if necessary set new ones to prevent another bubble from forming in its property market, while cracking down on abuses by real estate brokers, the Director General of the emirate's Land Department said.

Jordan's economic growth hit by Syrian refugee burden: central bank

AMMAN The cost of accommodating hundreds of thousands of Syrian refugees in Jordan is hampering the economy's ability to grow substantially beyond a three to 3.5 percent IMF annual growth target for the next two years, the central bank governor said.

Templeton Emerging Markets looks to invest more in Egypt

DUBAI Templeton Emerging Markets Group is looking to increase its equities investment in Egypt because it thinks the political environment will stabilize and the government is committed to repairing the economy, the head of the group said.


Abu Dhabi's Aldar eyes rentals, smaller projects post-merger

DUBAI Aldar Properties , Abu Dhabi's biggest real estate developer, will focus on rental income and smaller projects instead of large developments in order to avoid the risk of becoming overstretched again, a senior executive said.


Egypt mounts drive to lure 13.5 million visitors next year

CAIRO Egypt aims to attract 13.5 million visitors next year, bringing in around $11 billion, as it launches an international campaign to lure back foreigners deterred by political turmoil, the tourism minister said.


Saudi's Al Tayyar Travel sees 25 percent growth in 2014

RIYADH Saudi Arabia's Al Tayyar Travel Group , a major tourism company in the region, expects earnings to grow about 25 percent next year, aided by Saudi government spending and a planned acquisition in Britain, its top executive said.


Credit Suisse sees Qatar fund in emerging markets push

DOHA Qatar's sovereign wealth fund is looking at more investments in emerging markets in order to diversify beyond developed nations, said a senior executive of Credit Suisse who is one of the top advisors to the fund.

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