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  <description>2006 news and features</description>
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  <copyright>(c) 1996-2009 AME Info FZ LLC / Emap Limited. All rights reserved.</copyright>
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    <title>Gulf Bank, holiday offer</title>
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    <pubDate>Sun, 31 Dec 2006 11:07:46 +0400</pubDate>
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        The Gulf Bank has launched a holiday promotion for its credit card holders which will run until March 10. Every time a customer spends KD50 on their credit card or withdraws at least KD100 from an ATM, they will be entered into one of ten weekly prize draws to win a holiday in Malaysia. Customers who spend KD500 or more in one transaction will be entered into a draw 50 times.
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    <title>Average wage drops in Egypt</title>
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    <pubDate>Sun, 31 Dec 2006 07:52:08 +0400</pubDate>
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        A study by Egypt's National Planning Institute and cited by the Daily Star Egypt has revealed that, from 2001 to 2005, the average wage in the country declined, due to a decrease in farmers' pay. Although farming accounts for 27% of Egypt's GDP, farmers receive less than 8% of total wages. Meanwhile, despite efforts to liberalise the economy from 2004, the government is still paying 30% of all wages.
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    <title>QIIC eyes Pakistan</title>
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    <pubDate>Sat, 30 Dec 2006 08:04:56 +0400</pubDate>
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        The Qatar Islamic Insurance Company has got closer to securing a licence to start two companies in Pakistan after transferring $10.7m of share capital, reported Reuters. After meeting this last requirement, it is hoped Pak Qatar General Takaful and Pak Qatar Family Takaful will open in the new year with the first branch lined up for April. Pakistan currently has only one Islamic insurance firm.
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    <title>National Bonds to expand</title>
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    <pubDate>Thu, 28 Dec 2006 08:59:58 +0400</pubDate>
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        National Bonds plans to expand its operations to Saudi Arabia and Malaysia in 2007, according to a report in Al Hayat cited by Bloomberg. The Dubai state-owned seller of Islamic bonds might also invest in local education and healthcare providers, the report said. Sky Courts, a real estate development in Dubai, is National Bonds' first major project.
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    <title>UNB new Al Awwal product</title>
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    <pubDate>Wed, 27 Dec 2006 12:59:00 +0400</pubDate>
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        UAE-based Union National Bank has created a new product under its Al Awwal range. Al Awwal Gold Savings certificates offer 2% return per year and  the chance to win quarterly prizes worth Dhs2m, the bank said. Certificates come with a pre-approved credit card and an overdraft facility of up to 90%. They are available in unit values of Dhs100, Dhs200 and Dhs500.
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