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Gulf execs see clearer outlook, remain cautious

DUBAI From banks to property firms, executives across the Gulf region and Egypt believe the worst of the financial downturn is over, but many warned of more bumps along the way. | Video


Banks hold key to better corporate disclosure

DUBAI The Gulf has a long way to go in corporate disclosure and unlike developed economies in the West, the key driver here may well be banks rather than the regulators.

Saudi Arabia vows to overhaul courts, laws

RIYADH Debt problems of family firms have had little effect on investor interest in Saudi Arabia, but the country plans to improve commercial courts and bankruptcy laws, a senior official said on Wednesday.

Egypt has plans to sell stakes in state firms

CAIRO Egypt's Investment Ministry has drawn up a plan to sell stakes of up to 49 percent in selected state-owned firms but is in no hurry to offload the assets, the minister said on Wednesday.

Egypt says seeks to boost private investment

CAIRO Egypt wants to boost private investment by about 75 percent to 200 billion Egyptian pounds ($36.6 billion) by 2012/13 from the 2008/09 level by attracting Egyptian and foreign investors, a minister said on Wednesday.


Cairo-based Citadel sets up investment funds

CAIRO Cairo-based Citadel Capital, a private equity fund that manages $8.3 billion, has set up at least two new funds for investment in the Middle East and East Africa, saying the appetite for such funds is accelerating.

Gold ETC slow to take off in Gulf: exec

DUBAI, Oct 28 The Gulf region's first gold exchange traded commodity (ETC), a new investment vehicle launched earlier this year, is seeing only modest growth due to regional unfamiliarity with the product.


Dubai's Arqaam says working on several M&A deals

DUBAI Investment bank Arqaam Capital is working on a multi-billion dollar M&A deal in the Gulf Arab region, one of six deals it is looking to conclude, as activity picks up, its director said on Wednesday.

GFH eyes 40 percent income from investment management

MANAMA Bahrain-based Islamic lender Gulf Finance House (GFH) wants between 30 to 40 percent of its revenues to come from its investment management division, the chief executive of the unit said.


Banks coming to Saudi struggle to find talent

RIYADH Deal-hungry international banks and firms flocking to Saudi Arabia say they are struggling to find qualified staff due to an outdated state education system that lacks business focus in an ultra-conservative country.

Air Arabia sees Q1 2010 yield improvement

DUBAI, Oct 28 Low-cost airline Air Arabia expects its third-quarter earnings to be "satisfactory", but does not see yields improving until the beginning of the first quarter of 2010, its chief executive said on Wednesday.


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