<rss version="0.91">
<channel>
<title>www.bi-me.com RSS feed for &#8211; Finance &amp; Banking</title>
<link>http://www.bi-me.com</link>
<description>Middle Eastern Business News and Data</description>
<language>en-us</language>
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<title><![CDATA[Gold closes week strongly at US$1,097 on central bank purchases, economic data]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41791</link>
<description><![CDATA[INTERNATIONAL. Friday&#039;s reports on US jobless data and Sri Lanka&#039;s gold purchases added to the momentum capping a week that saw gold reach a new record and break out of its recent consolidation phase.]]></description>
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<title><![CDATA[Lebanon to issue US$500 million Eurobond this month ]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41789</link>
<description><![CDATA[LEBANON. The Lebanese government has appointed Bank of Beirut SAL to lead the sale of US$500 million in Eurobonds.]]></description>
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<title><![CDATA[Middle East stocks sank this week on receding confidence, led by Egypt&#039;s index]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41786</link>
<description><![CDATA[INTERNATIONAL. Arab stock markets plummeted for the second week in a row, reflecting retreating confidence on the part of investors who appeared increasingly geared to the performance of global bourses.]]></description>
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<title><![CDATA[Barclays says investors should buy Dubai bonds as refinancing risk eases ]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41781</link>
<description><![CDATA[INTERNATIONAL. Investors should buy Dubai sovereign bonds as the emirate seeks to refinance its maturing debt with the help of oil-rich Abu Dhabi and as it focuses on an &#039;orderly exit from the crisis&#039;.]]></description>
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<title><![CDATA[Gold price hits record above US$1,100 on US jobs report, Sri Lanka purchase]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41785</link>
<description><![CDATA[INTERNATIONAL. The price of gold hit a record high above US$1,100 an ounce on Friday following a report that Sri Lanka had joined India in purchasing the precious metal and after data showed the US unemployment rate topped 10% in October.]]></description>
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<title><![CDATA[Gold gains 5% for the week as stocks fall on shock US jobs data]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41783</link>
<description><![CDATA[UAE. The price of gold rose sharply from a fresh all-time Gold Fix of US$1095 per ounce in London on Friday after new data put US unemployment at a 26-year high of 10.2% in October.]]></description>
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<title><![CDATA[As gold vaults being emptied by investors, is the market reaching breaking point?]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41780</link>
<description><![CDATA[INTERNATIONAL. The gold market operates on a fractional reserve basis. On average there are several claims of ownership on each bar. According to Comex warehouse data there is only 66 tons of registered gold backing 1465 tons for future delivery, or enough to cover 4.5% of outstanding contracts.

]]></description>
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<title><![CDATA[Marc Faber has short term concerns about commodities, says gold may drop to US$800 ]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41779</link>
<description><![CDATA[INTERNATIONAL. Marc Faber said he has some short-term concerns about commodity prices including gold.
He is also reluctant to invest in bonds.
]]></description>
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<title><![CDATA[International Finance Corporation lists its first Sukuk on NASDAQ Dubai]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41722</link>
<description><![CDATA[UAE. Jeff Singer, chief executive of Nasdaq Dubai, said the launch of the IFC&#039;s and the World Bank&#039;s first Sukuk and its listing on Nasdaq Dubai are a significant step in the continuing integration of Islamic finance into the global financial system. ]]></description>
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<title><![CDATA[Jim Rogers says Nouriel Roubini is wrong on gold bubble ]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41739</link>
<description><![CDATA[INTERNATIONAL. Rogers said many commodities are still down from record highs. The price of gold will double to at least US$2,000 an ounce in the next decade, he said. Roubini thinks this is &#039;utter nonsense.&#039;  ]]></description>
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<title><![CDATA[&#039;As of today, I will be long in dollars,&#039; says Marc Faber]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41738</link>
<description><![CDATA[INTERNATIONAL. Marc Faber said the US dollar may appreciate 10% against the euro in one to three months. He said he would be careful to buy equities now as &#039;we are in a correction period&#039;.



]]></description>
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<title><![CDATA[Moody&#039;s downgrades five Dubai state-linked firms  ]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41728</link>
<description><![CDATA[UAE. The ratings outlook for DP World, Dewa, DIFCI and Jafz is negative, reflecting ongoing economic pressures. The ratings of both DHCOG and Emaar have been maintained on review for downgrade.]]></description>
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<title><![CDATA[Dubai shares bounce back]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41718</link>
<description><![CDATA[UAE. The Dubai Financial Market General Index rose 3%, bouncing back from yesterday&#039;s 5% drop. The real estate and construction sector was up 5.2% and financials climbed 4.16%.

]]></description>
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<title><![CDATA[Gold hits fresh record-high above US$1,095 an ounce  ]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41715</link>
<description><![CDATA[INTERNATIONAL. The price of gold jumped to a record peak of 1,095.60 dollars an ounce in London trading Wednesday after the IMF announced a massive sale of the precious metal to India.

]]></description>
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<title><![CDATA[BankMuscat partners with HP and Avaya]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41723</link>
<description><![CDATA[OMAN. BankMuscat has selected HP and Avaya to meet its growth objectives by consolidating its existing disparate technology infrastructure into an integrated and unified business system. 

]]></description>
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<title><![CDATA[Ernst &amp; Young launches Internal Audit roundtable series in Middle East]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41716</link>
<description><![CDATA[UAE. The regional networking event offered Internal Audit executives and Audit Committee members an opportune platform to share relevant business practices.]]></description>
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<title><![CDATA[AllWorld Network convenes summit of entrepreneurs]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41710</link>
<description><![CDATA[SAUDI ARABIA. AllWorld Network kicked off the convening of its first summit to accelerating growth entrepreneurship in the Middle East and Africa. 
]]></description>
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<title><![CDATA[Dubai Gold &amp; Commodities Exchange achieves record 1.143 million contracts ]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41708</link>
<description><![CDATA[UAE. DGCX of today announced that 1,142,814 contracts, valued at US$58 billion, have been traded in 2009 as at 2 November.  ]]></description>
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<title><![CDATA[British business demonstrates strong interest in the UAE]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41707</link>
<description><![CDATA[UAE. Lloyds TSB Middle East travelled to the UK with the British Embassy&#039;s UK Trade and Investment team to advise businesses with an interest in working in the UAE.  
]]></description>
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<title><![CDATA[SHUAA Securities number one broker in the UAE]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41699</link>
<description><![CDATA[UAE. SHUAA Securities was ranked number one overall brokerage company in the UAE in terms of market share for October according to official data from the Dubai Financial Market and ADX. ]]></description>
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<title><![CDATA[Gold jumps to record-high on India&#039;s 200-tonne IMF purchase]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41696</link>
<description><![CDATA[INTERNATIONAL. The price of gold rose sharply hitting a fresh record-high high of US$ 1,089 Tuesday after the Reserve Bank of India said it bought 200 tonnes of gold from the International Monetary Fund late last month.]]></description>
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<title><![CDATA[Kuwait International Bank improves financial crime prevention with Complinet]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41691</link>
<description><![CDATA[KUWAIT. The Complinet sanctions, enforcements and politically exposed persons data feed integrates and automatically downloads into the bank&#039;s AML system, inproving their ability to detect money laundering and fraud, and reduce risk.

]]></description>
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<title><![CDATA[Borse Dubai International Investor Conference launches in New York]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41686</link>
<description><![CDATA[INTERNATIONAL. The Borse Dubai International Investor Conference New York 2009 has opened, co-hosted by Dubai Financial Market and NASDAQ Dubai, in cooperation with Citigroup Global Markets and Goldman Sachs. ]]></description>
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<title><![CDATA[SHUAA Capital welcomes Moody&#039;s two notch upgrade]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41668</link>
<description><![CDATA[INTERNATIONAL. SHUAA said it is very encouraged by the upgrade of Moody&#039;s Investor Services of its foreign currency and local currency issuer ratings by two notches from B1 to Ba2. ]]></description>
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<title><![CDATA[Drake &amp; Scull International reports third quarter profit of US$19.35 million]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41667</link>
<description><![CDATA[UAE. The company reported AED71 million (US$19.35 mllion) in net profits while revenues amounted to AED400 million (US$110 million) for the same period.  

]]></description>
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<title><![CDATA[Global investor review finds investors confident on market prospects]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41666</link>
<description><![CDATA[INTERNATIONAL. The survey revealed that investors remain confident that global indices will continue to rise further despite the recent market rally.
]]></description>
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<title><![CDATA[Jordanian wins Forex Trading challenge]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41662</link>
<description><![CDATA[JORDAN. Varengold Bank announced the winner of its 2nd FX Trading challenge, a Jordanian, who will receive US$250,000 in seed capital to trade and bank-based sales support in order to acquire additional capital for his managed accounts. 
]]></description>
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<title><![CDATA[Gold jumps above US$1,060 as LBMA hears of paradigm shift]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41660</link>
<description><![CDATA[INTERNATIONAL. &#039;It is now investors who define the gold price,&#039; Aram Shismanian, WGC CEO told the LBMA conference in the UK. &#039;We firmly believe we&#039;re now entering a new era for gold...There has been a real paradigm shift in how people see gold.&#039;

]]></description>
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<title><![CDATA[Mashreqbank may take part in Dubai bond issue]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41659</link>
<description><![CDATA[UAE. Mashreqbank said Dubai&#039;s planned US$10 billion debt issue is open to investors and that Mashreqbank may consider purchasing part of it. ]]></description>
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<title><![CDATA[Egyptian Arab Land Bank installs latest technology at ATMs to protect customers]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41657</link>
<description><![CDATA[EGYPT. The Egyptian Arab Land Bank has installed the latest high-tech security and control monitors from NCR Corporation to ensure enhanced security for its customers when withdrawing money.]]></description>
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<title><![CDATA[Middle East IPO market in decline, says Ernst &amp; Young]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41648</link>
<description><![CDATA[UAE. The initial public offering market in the Middle East has declined according to the figures in the Ernst &amp; Young Middle East IPO Update for the third quarter of 2009. 

]]></description>
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<title><![CDATA[Bahrain&#039;s Gulf Finance House rights issue receives US$300 million]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41655</link>
<description><![CDATA[BAHRAIN. The popularity of the capital raising alongside the continuing success of the banks broader capital raising initiatives means GFH will have raised a total of US$450 million.]]></description>
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<title><![CDATA[National Bonds Corporation launches employee savings scheme]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41650</link>
<description><![CDATA[UAE. This innovative new service would enable employers to add value to their staff welfare by providing extra benefits which in turn will encourage loyalty to the organisation and increase employee retention.

]]></description>
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<title><![CDATA[Shariah-compliant equities lag as investors dive back into financials]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41646</link>
<description><![CDATA[INTERNATIONAL. Shariah-compliant stocks underperformed the broader market in the Gulf Cooperation Council, United States and Europe during the third quarter of 2009, according to the latest Shariah Scorecard published by Standard &amp; Poor&#039;s.]]></description>
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<title><![CDATA[Saxo Bank Dubai Participates at the 5th Middle East Forex Trading Expo]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41642</link>
<description><![CDATA[UAE. Saxo Bank launched its operation in Dubai earlier this year will be co-sponsoring and participating at the 5th Middle East Forex Trading Expo and Conference 2009 which will be held at Emirates towers on the 17-18 November. ]]></description>
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<title><![CDATA[ACM Middle East announces capital hike to US$27.25 million]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41624</link>
<description><![CDATA[INTERNATIONAL. ACM Middle East and Asia CEO Saber Daboussi announced that shareholders of the Swiss-based leading online currency trading firm have endorsed an additional capital raise of US$27.25 million during their latest general assembly. ]]></description>
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<title><![CDATA[50% of IBQ customers now bank online
]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41614</link>
<description><![CDATA[QATAR. Half of all IBQ customers are now accessing the bank&#039;s services online, the Doha-headquartered bank announced today. 

]]></description>
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<title><![CDATA[Mashreq expands Middle East operations to Kuwait]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41613</link>
<description><![CDATA[KUWAIT. Mashreq inaugurated its 94th Branch in the Middle East region with its first branch opening in Kuwait with a capital of KWD15 million

]]></description>
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<title><![CDATA[Despite recession, world&#039;s leading innovators increased R&amp;D spending in 2008]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41598</link>
<description><![CDATA[INTERNATIONAL. The world&#039;s 1,000 largest publicly traded corporate research and development spenders increased spending on R&amp;D in 2008, affirming the critical importance of innovation to their corporate strategies, according to Booz &amp; Company. ]]></description>
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<title><![CDATA[Yemen plans to launch stock exchange with help from DFM]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41608</link>
<description><![CDATA[UAE. Dubai Financial Market  is assiting Yemen to establish its own financial market and related infrastructure.]]></description>
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<title><![CDATA[Every asset has its time and place: Is now the time for gold?]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41575</link>
<description><![CDATA[INTERNATIONAL. The price of gold ended lower on Friday, in a volatile session, as a stronger dollar and negative US economic reports reduced the metal&#039;s appeal. Prices fell 1.5% this week, rose 3.67% in the last 30 days, by 8.7% in the third quarter and 42% year-on-year.
]]></description>
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<title><![CDATA[Inevitable inflation will see gold&#039;s upside scenario at US$1,200, says Richard Gray]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41580</link>
<description><![CDATA[INTERNATIONAL. It&#039;s been a dollar vs. gold story ever since the economy ran into trouble last fall, according to Blackmont Metals and Mining Analyst Richard Gray, who sees inevitable inflation down the road. 

]]></description>
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<title><![CDATA[Recession not over: Stimulus impulse will eventually lead to next Great Depression, says Peter Schiff]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41576</link>
<description><![CDATA[INTERNATIONAL. Peter Schiff says not only there is no recovery but the fundamentals of the US economy have been worsening because of what the government has done to artificially stimulate it. ]]></description>
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<title><![CDATA[Middle East stocks fell this week on earnings, global woes ]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41574</link>
<description><![CDATA[INTERNATIONAL. Arab stock markets lost ground this week reflecting investors&#039; worries over third quarter earnings of listed firms and the fragile global recovery, financial analysts said.]]></description>
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<title><![CDATA[Gold sets new monthly record ]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41573</link>
<description><![CDATA[INTERNATIONAL. The price of gold neared month-end above US$1,040 an once on Friday in London, approaching a new monthly high almost 5% above September&#039;s average.]]></description>
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<title><![CDATA[Jim Rogers, Marc Faber agree US dollar due for temporary rebound]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41570</link>
<description><![CDATA[INTERNATIONAL. Investment gurus Jim Rogers and Marc Faber agree to various degrees on many issues but the one thing uniting them this week is the future direction of the US dollar. They see a correction looming in the US currency.

]]></description>
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<title><![CDATA[Investors cautious about taking risks, reveals Bloomberg Global Poll]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41564</link>
<description><![CDATA[The majority of investors polled also view the US as the weak link in the world economy, with its markets among the riskiest, and 37% say the dollar should not continue as the world&#039;s reserve currency in 10 years.]]></description>
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<title><![CDATA[Warren Buffett tops global investors poll ]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41563</link>
<description><![CDATA[INTERNATIONAL. Buffett is regarded as the best assessor of financial markets by a plurality of almost 25% of respondents to the quarterly Bloomberg poll of investors.]]></description>
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<title><![CDATA[Dubai Financial Market successfully launches the new high-capacity trading platform]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41557</link>
<description><![CDATA[UAE. DFM has announced that it has successfully launched the state of the art high-capacity trading system &#039;X-Stream&#039;, known to be one of the best trading systems in the world&#039;s financial markets. 
]]></description>
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<title><![CDATA[Gold bounces near US$1,050 as Dollar retreats on GDP result]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41562</link>
<description><![CDATA[INTERNATIONAL. The price of gold rose US$20 from last night&#039;s 3-week low of US$1027 on Thursday in London and New York, gaining as the United States reported an end to its economic recession.

]]></description>
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<title><![CDATA[Abu Dhabi&#039;s Aabar third quarter profit surges to US$403 million]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41561</link>
<description><![CDATA[UAE. Third-quarter net profit at Abu Dhabi&#039;s Aabar Investments rose 74-fold to AED1.48 billion (US$402.9 million) from AED19.9 million a year ago, helped by gains in investments.]]></description>
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<title><![CDATA[Dubai&#039;s Mashreqbank third quarter profit drop 42%, hit by provisions]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41559</link>
<description><![CDATA[UAE. Mashreqbank, Dubai&#039;s second-largest lender by market value, made a third-quarter profit of AED201 million (US$54.72 million), a 42% drop from a year earlier, after booking hefty provisions.]]></description>
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<title><![CDATA[UAE shares fall most since August on earnings]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41560</link>
<description><![CDATA[UAE. UAE stocks tumbled the most since August, leading Arab markets lower, after Dubai Financial Market and Sorouh Real Estate were among companies reporting a decline quarterly profit. 

]]></description>
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<title><![CDATA[The imperative to improve corporate governance in Middle East and North Africa]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41537</link>
<description><![CDATA[UAE. Regional and international experts on corporate governance will gather on 9-10 November in Dubai to review the progress in reforming corporate governance frameworks in MENA countries and ways to enhance their implementation. 

]]></description>
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<title><![CDATA[Dubai Financial Market records net profit of US$70.30 million in third quarter]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41542</link>
<description><![CDATA[UAE. DIFC has announced its financial results for the first three quarters of 2009 ending 30 September, demonstrating a healthy net profit of US$70.30 million compared to US$212.81 million in the corresponding period 2008.]]></description>
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<title><![CDATA[The risk of a bond crash is low, says Dexia AM ]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41536</link>
<description><![CDATA[INTERNATIONAL. We strongly believe that Dubai, very aware of the negative consequences of a bond restructuring, will by all means give the necessary support to achieve an orderly redemption, says Dexia AM.]]></description>
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<title><![CDATA[Gulf Finance House rights issue passes US$200 million]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41534</link>
<description><![CDATA[BAHRAIN. The news comes just days after the bank confirmed it had received approximately US$150 million from the capital raising exercise and means GFH have now met their stated target of between US$200 and US$300 million in fresh capital.]]></description>
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<title><![CDATA[Abu Dhabi shares drop the most in eight weeks as Aldar profit falls ]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41523</link>
<description><![CDATA[UAE. Abu Dhabi shares declined the most in eight weeks, leading losses across the Gulf, as Aldar Properties reported a decline in profit.]]></description>
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<title><![CDATA[George Soros says new global economic paradigm required]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41526</link>
<description><![CDATA[Soros said the entire edifice of global financial markets that has been erected on the false premise that markets can be left to their own devices has to be rebuilt from the ground up. ]]></description>
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<title><![CDATA[Saudi credit growth comes to halt]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41525</link>
<description><![CDATA[SAUDI ARABIA. Credit growth in Saudi Arabia almost came to a halt in September compared to August as banks in the biggest Arab economy dealing with a debt crisis of family firms remained cautious.]]></description>
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<title><![CDATA[Saudi bond market needs sovereign benchmark]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41501</link>
<description><![CDATA[SAUDI ARABIA. The strength of Saudi Arabia&#039;s public finances should not prevent the government from issuing sovereign Islamic bond which will be critical to the development of corporate sukuk issues.

]]></description>
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<title><![CDATA[Dubai Gold ETC slow to take off]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41521</link>
<description><![CDATA[UAE. Grant Collins, senior managing director of the Dubai Commodity Asset Management said the group may not have realised just how much people preferred to have the gold rather than a gold-backed product.
]]></description>
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<title><![CDATA[MasterCard shares key insights into the affluent market segment ]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41509</link>
<description><![CDATA[INTERNATIONAL. MasterCard today announced its sponsorship of &#039;Leaders in Luxury 2009&#039;, the premier Middle Eastern luxury brand and business development conference.  ]]></description>
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<title><![CDATA[Mashreq and Air Arabia launch loyalty card]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41504</link>
<description><![CDATA[UAE. Unveiling an exciting range of travel rewards, Mashreq and Air Arabia today announced the launch of the new &#039;Air Arabia Mashreq Credit Card,&#039; the latest addition to the bank&#039;s range of innovative cards. 


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<title><![CDATA[Rasmala GCC Fixed Income Fund performance exceeds expectations]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41491</link>
<description><![CDATA[INTERNATIONAL. Rasmala Investment Bank today announced that its GCC Fixed Income Fund, launched 31 March 2009, has achieved impressive returns after only six months since its launch, returning 25 % to investors.

]]></description>
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<title><![CDATA[DIFC to promote increased UAE-India trade and investment]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41487</link>
<description><![CDATA[UAE. Event will highlight the complementary nature of the two economies, as well as DIFC&#039;s role as a gateway for global capital.

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<title><![CDATA[Doha Bank seminar analyses Qatar&#039;s real estate scene]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41486</link>
<description><![CDATA[QATAR. Doha Bank recently held a seminar titled &#039;Real Estate Sector after the Recession&#039; organised jointly with the Doha Bank Assurance Company. 

]]></description>
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<title><![CDATA[Dubai may initially issue US$1 billion civil aviation Islamic bond ]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41484</link>
<description><![CDATA[UAE. The government of Dubai&#039;s fresh borrowing program is likely to raise an initial $1 billion through an Islamic bond to refinance debt held by the aviation department.]]></description>
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<title><![CDATA[Abu Dhabi Commercial Bank&#039;s third quarter profit drops 90%]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41479</link>
<description><![CDATA[UAE. Abu Dhabi Commercial Bank posted a 90% drop in third-quarter net profit, falling short of analysts&#039; expectations, as the lender booked hefty provisions.]]></description>
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<title><![CDATA[Deutsche Bank climate change advisor publishes analysis of 270 climate and energy policies
]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41465</link>
<description><![CDATA[INTERNATIONAL. Deutsche Bank&#039;s Asset Management division today published research which provides investors with an analysis of climate change policies and assigns a risk rating to 109 countries.]]></description>
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<title><![CDATA[National Bank of Abu Dhabi&#039;s third quarter net profit rise 41% ]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41478</link>
<description><![CDATA[UAE. NBAD recorded net profits of  US$249 million in the third quarter of 2009, an increase of 41% compared with US$177 million in the third quarter of 2008.

]]></description>
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<title><![CDATA[IslamicAdvisory.com launches first online Islamic Finance Certificate]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41431</link>
<description><![CDATA[INTERNATIONAL. IslamicAdvisory.com launches the first accredited Islamic finance training certificate available 100% online, with exams starting this month for the CIFE, or Certified Islamic Finance Executive. ]]></description>
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<title><![CDATA[Total deposits with Saudi banks hit US$245 billion as of June 2009]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41452</link>
<description><![CDATA[SAUDI ARABIA. Total deposits with Saudi banks has hit US$245 billion at the end of June 2009, according to a report by BMG Financial Group, as a result of their efforts to attract more deposits and address higher demand for Islamic banking services, which provide low cost of funding and high profit margins. 

]]></description>
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<title><![CDATA[Gold falls on Dollar reversal, private investors see higher prices]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41442</link>
<description><![CDATA[INTERNATIONAL. A survey of 1,700 British investors undertaken last week by Barclays Stockbrokers - the UK&#039;s largest execution-only retail brokerage - shows 40% believe the gold price will rise from here.]]></description>
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<title><![CDATA[Dubai shares gain 3.3%, most in a month ]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41441</link>
<description><![CDATA[UAE. Dubai shares climbed today as Emirates NBD reported third-quarter earnings that beat analysts&#039; estimates, boosting speculation that the worst of the economic crisis may be over. 

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<title><![CDATA[Gulf Finance House signs agreement with Qatar Islamic Bank]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41435</link>
<description><![CDATA[BAHRAIN. GFH today announced the signing of an agreement with QIB relating to the sale of 10% of its 15% stake in Qinvest to QIB.  

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<title><![CDATA[Reuters Middle East Summit begins today]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41426</link>
<description><![CDATA[INTERNATIONAL. Egypt&#039;s Prime Minister Ahmed Nazif, along with leading CEOs, business, economic and financial executives, will visit the Reuters bureaus in Dubai, Riyadh, Cairo, Doha, Manama and Abu Dhabi from 26-28 October to discuss the outlook for business in the Middle East in a series of exclusives interviews. 

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<title><![CDATA[Ipreo becomes &#039;Founding Member&#039; of Middle East Investor Relations Society]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41408</link>
<description><![CDATA[INTERNATIONAL. As a Founding Member, Ipreo is one of a select group of firms to pledge support to the ME-IR Society since its establishment in July 2008. 



]]></description>
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<title><![CDATA[Bank of Sharjah reports 34% increase in total comprehensive income]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41425</link>
<description><![CDATA[INTERNATIONAL .Bank of Sharjah&#039;s most recent financial results have revealed a solid performance and continued growth, with total comprehensive income for the institution increasing by 34% and net profit rising by 14%. 

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<title><![CDATA[GCC Investor Confidence Index rises 3.8 %, led by Saudi Arabia]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41423</link>
<description><![CDATA[UAE. The Index has been designed to provide the global investment community with a benchmark of investor confidence for GCC countries and track changes in investor behaviour over time. 

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<title><![CDATA[Emirates NBD third quarter profit rises 3%]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41417</link>
<description><![CDATA[UAE. Emirates NBD, the Middle East&#039;s largest banking group by assets, announced its results for the 9 month period ending 30 September 2009.
]]></description>
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<title><![CDATA[Prudential plans Dubai Islamic equity funds]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41416</link>
<description><![CDATA[INTERNATIONAL. British insurer Prudential plans to launch two Islamic equity funds in Dubai in the coming months.]]></description>
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<title><![CDATA[Raqmiyat launches web version of &#039;Image-based Cheque Clearing Solution&#039; ]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41407</link>
<description><![CDATA[UAE. Raqmiyat has launched &#039;ICCS Connect&#039;, the web version of its ICCS for banks in the UAE, with the first customer shipment targeted for January 2010. 

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<title><![CDATA[Islamic asset management needs more products, distribution]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41380</link>
<description><![CDATA[INTERNATIONAL. The Islamic management industry lacks a large enough range of products and distribution channels to challenge its conventional peers in catering to Muslim wealth, experts said.]]></description>
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<title><![CDATA[Bahrain&#039;s Gulf Finance House confirm early receipt of US$150 million rights issue capital]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41358</link>
<description><![CDATA[The announcement comes with a week still to run in the capital raising initiative and just days after GFH Group CEO Ahmed Fahour confirmed approximately US$100 million in commitment offers in a press conference at the Bank&#039;s Bahrain headquarters. 
]]></description>
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<title><![CDATA[Dubai Islamic Bank reports third quarter net profit of US$299.7 million]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41359</link>
<description><![CDATA[UAE. DIB announced yesterday its financial results as of 30 September 2009, demonstrating its resilient operations and robust core business despite global challenges facing the financial services sector. ]]></description>
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<title><![CDATA[53% of Arab investors see the global economy recovering from crisis, according to survey]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41357</link>
<description><![CDATA[INTERNATIONAL. The survey, which covered respondents from across the Arab World, aimed at finding whether the crisis has ended and if we are now heading towards recovery.]]></description>
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<title><![CDATA[Dubai Islamic Bank&#039;s third quarter profit falls 31%]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41352</link>
<description><![CDATA[UAE.  Dubai Islamic Bank&#039;s (DIB) third-quarter net profit fell 31% year-on-year, much worse than forecast, as the lender booked higher provisions for exposure to bad loans. 

]]></description>
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<title><![CDATA[Saudi&#039;s Samba third quarter loan provisions lowest for one year]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41351</link>
<description><![CDATA[SAUDI ARABIA. Samba Financial Group, Saudi Arabia&#039;s second-biggest lender by market value, booked SAR76.9 million (US$20.5 million) in loan provisions in the third quarter.]]></description>
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<title><![CDATA[UK&#039;s Virgin Money applies for full banking licence]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41350</link>
<description><![CDATA[INTERNATIONAL. British tycoon Richard Branson&#039;s Virgin Money has applied to become a bank. The business, which currently offers credit cards, savings and investments, applied to the Financial Services Authority for a full banking licence earlier this month.

]]></description>
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<title><![CDATA[Middle East shares in mixed weekly performance, Saudi Tadawul gains most]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41348</link>
<description><![CDATA[INTERNATIONAL. Arab stock markets put in a mixed performance this week reflecting investors&#039; worries over third quarter earnings, financial analysts said Friday. 

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<title><![CDATA[Gold dancing, but won&#039;t die, with the Dollar, says John Doody]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41346</link>
<description><![CDATA[INTERNATIONAL. John Doody can see lots of drivers to support a higher gold price. Just look at US monetary and fiscal policy, printing and borrowing too many dollars.  The years ahead have to be good for gold and not so interesting for the S&amp;P 500. 

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<title><![CDATA[Is Gold ready for a breakout?]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41345</link>
<description><![CDATA[INTERNATIONAL. The price of gold ended lower on Friday, dropping US$5.00  or 0.47% to close at US$1,054.80, for a weekly gain of US$2.00 or 0.19%.
Gold has gained in eight out of the past nine weeks.]]></description>
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<title><![CDATA[&#039;I don&#039;t believe in gold,&#039; says Nouriel Roubini]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41338</link>
<description><![CDATA[INTERNATIONAL. Without inflation, or without a depression, there&#039;s nowhere for gold to go. All the gold bugs who say gold is going to go to US$1,500, US$2,000, they&#039;re just speaking nonsense, said Roubini.]]></description>
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<title><![CDATA[Gold heading to record weekly close, triangular break-out pending]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41343</link>
<description><![CDATA[INTERNATIONAL. The yo-yo consolidation is becoming smaller and smaller. Micro analysis shows triangular price behaviour, suggesting a break-out is pending, said Scotia Mocatta.

]]></description>
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<title><![CDATA[UAE&#039;s SHUAA launches first truly integrated regional trading portal]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41334</link>
<description><![CDATA[UAE. The bilingual trading platform, which is free to register, gives the user on-line trading access to multiple UAE stock markets through a single account.]]></description>
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<title><![CDATA[Morgan Stanley sees strong growth resuming in Saudi Arabia on oil, domestic demand ]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41318</link>
<description><![CDATA[SAUDI ARABIA. Saudi Arabia has managed to weather the global economic downturn and its near-term outlook for economic growth is positive, according to a Morgan Stanley economic report.]]></description>
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<title><![CDATA[Global megatrends: How can investors prepare for the future?]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41299</link>
<description><![CDATA[INTERNATIONAL. In the latest issue of Global Investor, the analysts at Credit Suisse together with experts from around the world, examine the 3 key megatrends at play today; demographics, the return to a multipolar world and sustainability.]]></description>
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<title><![CDATA[US stocks overvalued, driven by cheap liquidity]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41319</link>
<description><![CDATA[INTERNATIONAL. The S&amp;P500 is highly overvalued, and stimulus packages and cheap liquidity are driving the markets, comments Christian Blaabjerg, Chief Equity Strategist at Saxo Bank.

]]></description>
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<title><![CDATA[US default rate forecasted to decline to 6.9% in September 2010, but risks lurk]]></title>'
<link>http://www.bi-me.com/main.php?c=3&amp;cg=2&amp;t=1&amp;id=41322</link>
<description><![CDATA[Since our most recent update, the tone in the capital markets has improved measurably, resulting in benefits for even low-rated borrowers, said an article published yesterday by Standard &amp; Poor&#039;s.]]></description>
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