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<title>Fujairah bank opens new branch</title>
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<pubDate>Sat, 17 May 2008 09:31:41 +0400</pubDate>
<description><![CDATA[The National Bank of Fujairah has opened a new branch in Tawain in Fujairah. Its twelfth branch – of which five are in Fujairah - the opening is part of its strategy to have a high presence in key local markets. On Wednesday, the bank reported a 31% drop in Q1 net profits to Dhs55.4m.]]></description>
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<title>Ithmaar Bank Q1 profit up 91%</title>
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<pubDate>Thu, 15 May 2008 14:22:52 +0400</pubDate>
<description><![CDATA[Bahrain-based Ithmaar Bank said its net profit jumped 91% in the first quarter to $59.3m, as the bank and its subsidiaries and associates in the Middle East, Asia Pacific, Europe and North Africa continued their expansion into new markets. The bank&#039;s operating profit, meanwhile, nearly doubled, from $32.5m to $62.9m.]]></description>
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<title>ANZ opens office in Dubai</title>
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<pubDate>Thu, 15 May 2008 13:53:17 +0400</pubDate>
<description><![CDATA[Australia &amp; New Zealand Banking Group Ltd, Australia&#039;s third-biggest bank, has opened an office in Dubai, reported Bloomberg. The office will focus on selling mortgages to the Middle East&#039;s 45,000 expatriate Australians and New Zealanders as well as providing export and trade financing services.]]></description>
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<title>Kuwait restricts real estate lending</title>
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<pubDate>Thu, 15 May 2008 07:06:09 +0400</pubDate>
<description><![CDATA[Kuwait&#039;s central bank is issuing new rules tightening real estate and share lending loans after imposing similar restrictions on consumer lending to help slow inflation, reported Daily Al Qabas. The central bank has informed local lenders they must set a risk weight of 150% in their balance sheets for commercial real estate and share buying loans, the daily reported, without citing a source. The new rules would exclude loans for private mortgages.]]></description>
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<title>National Bank of Fujairah Q1 profit dips 31%</title>
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<pubDate>Wed, 14 May 2008 10:49:52 +0400</pubDate>
<description><![CDATA[National Bank of Fujairah said its net profit fell 31% to Dhs55.4m in the first quarter of this year due to a downturn in the global investment climate. Investment losses for the quarter were Dhs30.3m as opposed to investment income of Dhs22.5m for the corresponding quarter of 2007.]]></description>
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