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  <copyright>(c) 1996-2013 AME Info FZ LLC / 4C. All rights reserved.</copyright>
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    <title>Samba soars after Fitch afffirms Saudi bank's investment grade rating</title>
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    <pubDate>Wed, 22 May 2013 17:02:04 +0400</pubDate>
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        The Saudi Stock Exchange consolidated at a 1-year high, closing 0.11% higher at 7,363.13 points. Samba Financial Group gained 0.44% to reach a 3-week high at SR45.90. Earlier in the day, Capital Intelligence (CI), the international credit rating agency, today announced that it has affirmed the ratings of Samba. "n view of the Bank's very strong capital ratios, strong liquidity and continually improving asset quality, the Financial Strength Rating is maintained at 'AA-'", said Fitch. At year-end 2012, Riyahd-based Samba ranked as KSA's third-largest bank, with total assets of SR199bn (equivalent to $53.1bn and a market share of about 12%). By total capital (SR31.7bn) the Bank ranked fourth in size among Saudi banks. At the close of the year, Samba operated a network of 72 branches and employed 3,329 full-time direct staff (2011: 3,057).
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    <title>Bahrain Bourse gains on IMF's GDP growth forecast</title>
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    <pubDate>Wed, 22 May 2013 15:36:54 +0400</pubDate>
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        The Bahrain All-Share Index finished the trading session on Wednesday with a gain of 0.14%, closing at 1,168.86 points. In its spring update on the Middle East and North Africa, the IMF uograded real GDP growth prospects fro the Bahrain to 4.2% for 2013 from 2.8% amid increased political stability in the Kingdom. In 2014, the IMF said Bahrain's econmy would grow by 3.3%. Shares of Inovest surged 8.93% to reach $0.305. Islamic bank   Gulf Finance House hit a 1-year year, closing at $0.175. 
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    <title>Qatari shares gain across the board</title>
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    <pubDate>Wed, 22 May 2013 14:25:52 +0400</pubDate>
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        The QE 20 Index added 0.54% to close at 9,085.90 points Wednesday. Qatar National Bank (up 0.35%), Industries Qatar (0.36% higher) and Ooredoo (gainiing 1.35%) led the gauge's advance. Islamic Holding posted the biggest decline (down 2.87%). 	
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    <title>Etisalat advances as firm reinforces Nigeria operations</title>
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    <pubDate>Wed, 22 May 2013 14:16:46 +0400</pubDate>
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        The Abu Dhabi market index ADXGI slipped 0.10% to 3,503.38, mostly due to losses in the bankig sector. Shares of Etisalat rose 0.85% to finish at Dhs11.85.   The UAE's first telecom provider said its subsidiary Etisalat Nigeria (in which the mother company holds 40%), signed a $1.2bn medium term syndicated loan facility. The loan will be used to refinance an existing $650m term debt and to ensure the firm's network rollout across the West-African country. Etisalat, the ADX market bellwether, operates in 18 countries across the Middle East, Asia and Africa.  
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    <title>Arabtec stabilises after workers' strike ends</title>
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    <pubDate>Wed, 22 May 2013 14:01:46 +0400</pubDate>
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        The DFM General Index rose 0.17% to close at 2,323.34 points Wednesday. All eyes were on Arabtec Construction which closed flat higher at Dhs2.37. Arabtec said the strike by some building workers in Dubai and Abu Dhabi was resolved trhough an amicable resolution "with no impact on any of its projects." Arabtec added those employees who participated in the stoppage of works will be held accountable for their actions. 
After Union Properties lost 15% in value in the last 7 dasy, Dubai's second developer rebounded by 1.91% to reach Dhs0.426. Market bellwether Emaar Properties ended unchanged at Dhs5.87. Around 652m shares were traded, valued at 684m. 
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