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Zawya: UAE, Russia sign nuclear energy cooperation deal

17 December 2012

DUBAI–The United Arab Emirates said it inked an agreement with Russia Monday to enhance cooperation between the two countries in the development and use of atomic energy for peaceful purposes, after the Gulf state was given the go-ahead earlier this year for construction of two nuclear power units, the first in a string of civilian power plants planned in the strategically sensitive Persian Gulf region. The deal sets out a…

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Zawya: Gulf shows signs of green revolution

3 December 2012

It is not the sort of thing you expect to see in the middle of oil-rich Abu Dhabi, but here in a sandy spot by the emirate’s airport is a field of solar panels so vast it could easily blanket several football pitches. It is, say some, a sign of a green revolution poised to transform the Gulf’s energy landscape. This may seem unlikely in a region with a ferocious…

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Wall Street Journal: Credit Suisse, Qatar in Asset-Management Joint Venture

6 November 2012

Credit Suisse Group AG and Qatar Holding LLC, a unit of the gas-rich emirate’s sovereign-wealth fund are forming an asset-management joint venture. The Gulf state is looking to boost its financial sector and lessen dependency on natural resources and the Swiss bank seeks to expand in the fast-growing emerging markets of the Middle East and Turkey. The asset-management venture will be called Aventicum Capital Management. It will operate in Doha…

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GCC has construction pipeline of more than USD1trn

30 October 2012

Zawya: Stark facts are often more potent than previews or prognostications. A pipeline of USD 1.085 trillion of projects are in the design, bid or construction stage up to 2037 in the Arabian Gulf, according to data available on the Zawya Projects Monitor. UAE still leads the pack with USD 513.84 billion worth of ongoing projects, followed by Saudi Arabia with USD 335.47 billion. However, Qatar will see double-digit growth…

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Qatar eyes major stakes in seven European banks

29 October 2012

Zawya: Qatar is considering buying major stakes in investment banks in Europe. Negotiations are underway with seven banks suffering from accumulated financial crises due to economic recession in Europe, reported Al Arabiya News. Qatari delegations are leading broad negotiations to widen their investment portfolio in Luxembourg, in order to diversify their income generating investments, the report said. Widening of investments in the foreign markets by Qatar’s investment authority is part…

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Qatar opens up to foreign investment

18 October 2012

Zawya: Industries Qatar’s decision last month to increase the amount of shares foreigners can buy in it is raising speculation that more Doha-listed companies will follow the lead of the petrochemicals maker. The company raised its foreign ownership limit in September to 12.25 per cent from 7.5 per cent, it said in a statement on Sunday, as it released its earnings results. The shares rallied strongly the following day and…

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Saudi Arabia: Risks and challenges

16 October 2012

Zawya: Saudi Arabia is an open economy. The one notable exception is the restriction on foreign participation in the stock market. The near-term economic outlook is broadly favourable and the main risks to the economy are the geopolitical risks and the evolution of oil prices. Our outlook for the Saudi Arabian economy is broadly positive. Risks are concentrated in the social sphere which, if not addressed, could lead to a…

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Dubai: Regaining lost ground

8 October 2012

Zawya: The local economy appears set to sustain its recent upward momentum, as investor confidence returns and some core sectors rebound. However, there are still concerns that weak performance of key trading partners and tight liquidity could hold back expansion. On September 11, the Central Bank of the UAE suggested GDP growth was likely to exceed the levels projected by the IMF earlier this year. “As regards the prospects for…

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Zawya: Oman’s quiet boom

24 September 2012

While regional stalwarts Saudi Arabia, UAE and Kuwait grab all the economic headlines, the Omani economy is quietly showing impressive growth and resilience. The Omani Central Bank chief expects the Sulanate’s economy to grow at 5% this year, which is remarkable considering it comes during an infectious round of global economic weakness. Oman has benefited from rising crude production at a time of high crude prices. Crude petroleum revenues rose…

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Zawya: Qatar’s commodity empire

10 September 2012

Go with what you know – that seems to be Qatar’s motto as it unveils ambitious plans to dominate the global resources sector. Not content with being home to the world’s third largest natural gas reserves and the largest producer and exporter of liquefied natural gas, apart from being an important OPEC crude producer, Qatar is making a big play to acquire stakes in resource and hydrocarbons companies. The resource…

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