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Emirates NBD chief executive Rick Pudner insisted the group’s Q1 financial results were “robust”, despite the UAE’s largest lender by assets reporting a 55% slump in net profit in Q1 2012 compared to the year-earlier …Read full article » United Arab Emirates: Monday, April 30 - 2012 @ 10:36
HE Abdulaziz Al-Ghurair, CEO of Dubai’s Mashreq Bank, is optimistic about 2012, very optimistic. “Next year will mark a major turnaround for the United Arab Emirates.
“The real estate market has already stabilized and for …Read full article » United Arab Emirates: Sunday, October 09 - 2011 @ 10:53
In its annual survey, real estate analysts CB Richard Ellis mapped the global footprint of 323 of the world’s leading retailers across 73 countries and found that 56% of brands are present in Dubai, matching …Read full article » United Arab Emirates: Wednesday, April 13 - 2011 @ 15:30
On March 17, Argentina’s Cristina Fernández de Kirchner, together with HE Sultan Ahmed Bin Sulayem, Chairman of DP World opened South America’s largest cruise terminal, Quinquela Martin. It was designed and will be operated by …Read full article » United Arab Emirates: Tuesday, March 22 - 2011 @ 16:14
The UAE’s largest bank by assets saw its net profits and total income plummet in 2010, as impairments on investments and bad loans took their toll. However, CEO Rick Pudner is in a bullish mood …Read full article » United Arab Emirates: Thursday, February 10 - 2011 @ 10:07
The exodus of financial firms from the UAE appears to be over. Take the Swiss private banks Clariden-Leu and Sarasin. Both banks almost simultaneously opened representative offices in Abu Dhabi last year in November, and …Read full article » United Arab Emirates: Tuesday, February 01 - 2011 @ 15:17
It might be too soon to call it a year for 2010, but from a UAE investor’s perspective twenty-ten will be remembered as the post-crisis rollercoaster period. The “2010-menu” had all sorts of ingredients that …Read full article » United Arab Emirates: Tuesday, November 30 - 2010 @ 14:33
“The debt deal was a necessary precondition for Dubai being able to tap international debt markets again, although I wouldn’t expect good news over the next year,” Dr Eckart Woertz, Director of Economic Studies at …Read full article » United Arab Emirates: Sunday, November 14 - 2010 @ 12:34
On November 25 last year, state-owned conglomerate Dubai World shocked markets with the announcement that it was looking to restructure more than $23bn of debt.
Dubai World, the parent company of the world’s …Read full article » United Arab Emirates: Sunday, November 07 - 2010 @ 17:11
“Prices are not house numbers, they are moving”, an old trader’s proverb says. While chart analysis is a basic tool in developed countries even among private investors, in the GCC traders are rarely seen …Read full article » United Arab Emirates: Wednesday, October 27 - 2010 @ 16:32