Latest news

LHV delegation rang the NASDAQ closing Bell in New York

6 September 2012

On July 17th, 2012 LHV Bank’s delegation consisting mainly of members of management rang the closing bell of NASDAQ stock exchange. The event was broadcasted live via web and also on Nasdaq’ video screens on New York Times Square. Video materials introducing LHV Bank and their services were shown on Nasdaq’s screens before and after the ringing of the closing bell. LHV was nominated to ring the NASDAQ closing bell…

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Zawya: Mortgage law to come into force in early October in KSA

4 September 2012

Real estate experts expect the new mortgage law, which will come into effect in early October, to rejuvenate the sluggish real estate market in the Kingdom. Abdullah Al-Ahmari, chairman of the Real Estate Appraisal Committee at the Jeddah Chamber of Commerce and Industry, said: “The mortgage law is expected to be implemented early next month after the completion of the legislation of all related regulations and its clear interpretation. Investors,…

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EFG Hermes: GCC Economic Update

28 August 2012

GCC to Benefit From QE3: Oil Buoyed by Stimulus Hopes EFG Hermes see the GCC region being an overall beneficiary of a possible third round of Quantitative Easing (QE). The growing expectations of stimulus moves from the US and other central banks have already provided support to the oil price, despite weak demand fundamentals. Fiscal Space for QE3 Disappointment Any disappointment in the Federal Reserve’s announcements or actions over the…

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GCC to invest $100b in five years to combat water shortage

23 July 2012

Zawya: GCC governments have earmarked more than $100 billion in their water sectors between 2011 and 2016 to improve desalination technologies involving solar energy, and maximise on wastewater treatments and recycling. According to a recent report by Ventures Middle East, population growth and deterioration of water quality has prompted GCC governments to embark on major spending to combat water scarcity and ensure sustainable resources for the future. A recent study…

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Ramadan expected to start on July 20

13 July 2012

Zawya: Ramadan is expected to start on July 20, a Kuwaiti astronomer has said. “According to calculations, the first day of the month will be on Friday, July 20,” Salah Al Ajairi said. “Muslims will fast for 15 hours and 18 minutes on the first day and the fasting period will decrease gradually until it reaches 14 hours and 33 minutes on the 30th and last day,” he said, quoted…

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Qatar attracts massive demand for $4 bln sukuk

11 July 2012

Zawya- Qatar launched a $4-billion, dual-tranche sukuk on Wednesday, its first Islamic bond issue in nearly a decade and the largest sukuk deal from the Gulf this year. The world’s top liquefied natural gas exporter took full advantage of heavy global interest in high-grade Gulf debt and strong demand for sukuk among the region’s cash-rich Islamic investment funds. The five- and 10-year tranches will each be $2 billion in size….

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Middle East CEOs remain buoyant on growth

6 July 2012

Zawya: Middle East CEOs remain optimistic about delivering growth over the next 12 months despite the lingering after-effects of the Arab spring and a potentially worsening Eurozone debt crisis, according to Middle East focussed analysis of Business confidence remains stable in the region, with 60% of CEOs from the Middle East showing confidence of their revenue growth prospects in 2012 compared to 40% globally. This is also higher compared with…

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27 June 2012

AS LHV VARAHALDUS NOTIFIES OF AMENDMENTS TO THE FUND RULES OF LHV PERSIAN GULF FUND Management Company LHV Asset Management (AS LHV Varahaldus) hereby notifies that the Estonian Financial Supervisory Authority was on June 26, 2012 notified of the amendments to the fund rules of the UCITS fund LHV Persian Gulf Fund. The amendments to the fund rules shall be effective as of July 1, 2012. Only such amendments were…

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GCC Spending Plans to Remain on Track in 2012 – EFG Hermes

26 June 2012

EFG Hermes: EFG expect expansionary 2012 government spending plans to continue in the GCC, despite the sharp fall in oil prices. The objective of regional governments is to have consistency in spending plans and not change tack as a result of oil price volatility on the back of global uncertainly. We expect policy to continue to focus on upgrading infrastructure (including social), growth and job creation. Moreover, a number of…

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MSCI Could Rate Saudi As Emerging Market If Access Improves

21 June 2012

Zawya Dow Jones –Index compiler MSCI Inc. said it could rank Saudi Arabia as an emerging market alongside countries such as Brazil and China, if the oil-rich kingdom moves ahead with longstanding plans to open up its stock market to foreign investors. That could vault Saudi Arabia above smaller regional markets such as the United Arab Emirates and Qatar, which MSCI continues to rate as “frontier” markets in its global…

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