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    Egypt stops tourism

    Egyptian tourism ministry has said tourism activities with Iran have been halted due to security concerns, Reuters has reported. "At the moment the se...
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    Samsung opens its fi

    Samsung Electronics Co., Ltd, a global leader in electronics and digital technologies, announced today that the official opening of its largest showro...
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    Citadel Capital has signed a sale and purchase agreement to acquire a 49% stake in float glass manufacturer Sphinx Glass from DH Investors Limited. Me...
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    Egypt's oil minister, Sherif Ismail has said the government is in talks with GCC countries to supply it with badly needed petroleum products into 2014...
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Press Release

Egypt stops tourism with Iran due to security concerns
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Samsung opens its first multi-story showroom in Egypt

The 5-floor showroom is located in Abdel Aziz Street, Downtown.

The opening …

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Citadel Capital to acquire 49% of Sphinx Glass, DH Investors Limited to participate in upcoming Citadel Capital share issuance

Citadel Capital (CCAP.CA on the Egyptian Exchange), the leading investment company in …

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Analysis

Abu Dhabi Global Market forms expert panel of 16 international financial institutions to support the development of new regulatory framework

Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, announced that its Pre-Open Market Consultation is underway and that ADGM has formed an expert panel of 16 leading international financial institutions to support the development of the draft regulatory framework, which will govern the operations of institutions licensed to operating from ADGM.

Guidance and input from members of the expert panel, which so far includes senior representatives from National Bank of Abu Dhabi, Abu Dhabi Commercial Bank, First Gulf Bank, Mubadala Development Company, ADS Securities, Goldman Sachs, J.P. Morgan, HSBC, Standard Chartered, Pacific Investment Management Company) PIMCO (Lazard, Credit Suisse, International Swaps and Derivatives Association (ISDA) and Man Group, will be instrumental in tailoring the regulations to be adopted by ADGM to ensure that they create an environment to attract global players in the financial industry.

Ahmed Ali Al Sayegh, Chairman of ADGM, said: “The Pre Open Market Consultation process is a major step in preparing Abu Dhabi Global Market to receive its first licence applications from financial institutions in 2015. Consultation and collaboration are at the core of ADGM’s ambition to become a global financial centre and we are delighted to be working with our panel of renowned global financial institutions to ensure that when ADGM launches, it will offer a regulatory regime that provides maximum support and protection for business and is also completely compatible with the leading financial centres in the world.”

ADGM will be a broad based financial services centre which will, …

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