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    <title>UAE's bank debt to rise in 2010</title>
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    <pubDate>Tue, 09 Feb 2010 09:13:38 +0400</pubDate>
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        Non-performing loans are expected to swell almost 50% to nearly Dh65bn ($17.69bn) in the UAE this year, the National has reported. The rise is likely to force lenders to set aside more reserves to protect themselves. 'Non-performing loans are already at a reasonable level,' Sultan Nasser al Suwaidi, the Central Bank Governor, was quoted as saying yesterday. 'If you take into account write-offs, non-performing loans would be higher.' 
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    <title>Emirates NBD launches Jersey Offshore Deposits</title>
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    <pubDate>Tue, 09 Feb 2010 09:10:40 +0400</pubDate>
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        Emirates NBD, has announced the launch of Jersey Offshore Deposits, a multi-currency fixed-deposit product. Available in a range of international currencies, the product is available in tenors ranging from one month to three years. The minimum deposit is $25,000, £25,000, &euro;25,000 or Dhs100,000. 
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    <title>Tamweel posts Dhs11m profit in Q4</title>
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    <pubDate>Tue, 09 Feb 2010 09:04:29 +0400</pubDate>
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        Dubai-based Islamic mortgage lender Tamweel has reported a net profit of Dhs11m in the fourth-quarter of 2009, compared to a loss of Dhs112.36m ($30.57m) in the fourth quarter of the previous year, Reuters has reported. The firm's full-year net loss for 2009 was Dhs54m, compared with a profit of Dhs460.67m in 2008. 'Tamweel's operating results continue to be profitable in the fourth quarter of 2009, with a net profit recorded despite sizeable amounts set aside for prudential provisioning,' Tamweel's Chairman Sheikh Khaled said in a statement.
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    <title>Kuwait cuts discount rate by 50 bps</title>
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    <pubDate>Mon, 08 Feb 2010 11:42:38 +0400</pubDate>
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        The Central Bank of Kuwait has cut its key discount rate for the sixth time since October 8, 2008, by 50 basis points to 2.5% to support growth in the Gulf country's non-oil sectors as inflation is seen staying low, Kuna has reported. The reduction would help create a suitable climate for banking credit growth, CBK governor Sheikh Salem Abdulaziz Al-Sabah said.
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    <title>Saudi bank to open 90 new branches</title>
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    <pubDate>Mon, 08 Feb 2010 09:53:33 +0400</pubDate>
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        Saudi Arabia's Al-Rajhi Bank has announced plans to open 90 new branches within the next three years, as part of its expansion strategy in the kingdom, Arab News has reported. The planned expansion will bring to 546 the total number of its branches in the country.
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