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Business News

KNPC set to finalise $5bn-plus loan for Clean Fuels project by Q1 2017

Clean Fuels Project will upgrade and expand two of Kuwait’s largest existing refineries with a focus on producing higher-value products such as diesel and kerosene for export
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Nottingham Forest’s Kuwait owner close to $60m US sale – report

US consortium is led by John Jay Moores reportedly set to buy 80% stake in the English club
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Saudi Arabia plans to overhaul its bankruptcy laws

Proposed new legislation focuses on restructuring to give lifeline to struggling businesses
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Emirates NBD reports flat Q3 profit

The bank made a net profit of $452 million in the three months to Sept. 30
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National Bank of Kuwait Q3 net profit rises 6.4%

Banks in Kuwait and the rest of the Gulf are facing stronger headwinds as lower oil prices trim deposit growth and push up problem loans
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Revealed: GCC sovereigns could need $560bn by 2019 as low oil price bites

Bulk of financing needs will come from Saudi Arabia amid era of lowe oil prices, says Standard & Poor’s
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UAE’s TRA inks funding deal for new Dubai engineering college

Telecommunications Regulatory Authority also says to invest $330m in scholarships by end of 2018
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Qatar offers $825m gov’t bond sale, third of 2016

Falling state revenues due to low oil and gas prices have slashed financial inflows into the banking system this year
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Saudis face dilemma between size and pricing in debut bond sale

Riyadh is under pressure to maximise the size of its international issue with a 2016 state budget that envisages an $87bn deficit
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UK’s SSE to sell $755m stake in Scotia Gas to Abu Dhabi

Britain’s second biggest energy supplier announces deal to sell 16.7% stake to Abu Dhabi Investment Authority
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