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Topic

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Date announcedSummary of measureIntentActor (or none)BeneficiaryWhere to find original statementCBDubADNonUAEFedMoFMoEREBnkEconRelated story links

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12-Dec-2007UAECB cuts repo rate by 0.25 from 4.5 to 4.251http://www.centralbank.ae/pdf/Releases/pressRel12-12-2007.pdf

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22-Jan-2008US Fed cuts fed funds rate by .75 to 3.501http://www.federalreserve.gov/fomc/fundsrate.htm

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23-Jan-2008UAECB cuts overnight repo rate by .75 from 4.25 to 3.51http://www.centralbank.ae/pdf/Releases/pressRel23-01-2008.pdf

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23-Jan-2008CBK cuts discount rate by .50 from 6.25 to 5.751http://www.cbk.gov.kw/cbkweb/servlet/cbkNewsMain?Action=newsdisp&id=1268

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30-Jan-2008US Fed cuts fed funds rate by .50 to 3.001http://www.federalreserve.gov/fomc/fundsrate.htm

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31-Jan-2008UAECB cuts overnight repo rate by .50 from 3.5 to 31http://www.centralbank.ae/pdf/Releases/pressRel31-01-2008.pdf

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18-Mar-2008US Fed cuts fed funds rate by .75 to 2.251http://www.federalreserve.gov/fomc/fundsrate.htm

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19-Mar-2008UAECB cuts overnight repo rate by .75 from 3 to 2.251http://www.centralbank.ae/pdf/Releases/pressRel19-03-2008.pdf

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30-Apr-2008US Fed cuts fed funds rate by .25 to 2.001http://www.federalreserve.gov/fomc/fundsrate.htm

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1-May-2008UAECB cuts overnight repo rate by .25 from 2.25 to 21http://www.centralbank.ae/pdf/Releases/pressRel01-05-2008.pdf

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22-Sep-2008Central bank creates 50bn liquidity facility11http://www.centralbank.ae/pdf/Releases/pressRel22-09-2008.pdf

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7-Oct-2008Amendment to 50bn liquidity facility, lowering rate banks must pay11

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8-Oct-2008US Fed cuts fed funds rate by .50 to 1.501http://www.federalreserve.gov/fomc/fundsrate.htm

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8-Oct-2008CBK cuts discount rate by 1.25 from 5.75 to 4.51http://www.cbk.gov.kw/cbkweb/servlet/cbkNewsMain?Action=newsdisp&id=1330

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8-Oct-2008UAECB cuts overnight repo rate by .50 from 2 to 1.51http://www.thenational.ae/article/20081008/BUSINESS/365422211&SearchID=73350563185046 // http://www.centralbank.ae/pdf/Releases/CBinterestratecut.pdf

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12-Oct-2008KSA cuts repo rate by .50 to 5.001http://www.sama.gov.sa/sites/SAMAEN/FinanceExRate/RepoRate/Pages/RepoRate.aspx

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12-Oct-2008Government guarantees all bank deposits and inter-bank lending11http://www.thenational.ae/article/20081012/BUSINESS/968307013&SearchID=73350563185046 // http://www.bloomberg.com/apps/news?pid=20601087&sid=aQhEYnoQ6MCM&refer=home // http://wam.ae/servlet/Satellite?c=WamLocEnews&cid=1223546184580&pagename=WAM%2FWAM_E_Layout

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13-Oct-2008Ministry of Finance announces 70bn long term deposit program for local banks11http://www.thenational.ae/article/20081014/BUSINESS/179492657&SearchID=73350563185046

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13-Oct-2008Government extends guarantee of bank deposits made on previous day to foreign banks with significant activities in the UAE11http://www.thenational.ae/article/20081013/BUSINESS/538132954 // http://wam.ae/servlet/Satellite?c=WamLocEnews&cid=1223546191709&pagename=WAM%2FWAM_E_Layout

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21-Oct-2008First tranche (Dh25bn) of MoF long-term deposit program injected into local banks11http://www.thenational.ae/article/20081021/BUSINESS/220954106/1024

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29-Oct-2008US Fed cuts fed funds rate by .50 to 1.001http://www.federalreserve.gov/fomc/fundsrate.htm

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30-Oct-2008KSA cuts repo rate by 1.00 to 4.001http://www.sama.gov.sa/sites/SAMAEN/FinanceExRate/RepoRate/Pages/RepoRate.aspx

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30-Oct-2008CBK cuts discount rate by 0.25 from 4.50 to 4.251http://www.cbk.gov.kw/cbkweb/servlet/cbkNewsMain?Action=newsdisp&id=1336

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12-Nov-2008Second tranche (Dh25bn) of MoF long-term deposit program injected into local banks11

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22-Nov-2008Min. of Economy Sultan al Mansouri says alternatives to Almak/Tamweel merger being discussed111

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22-Nov-2008Amlak Tamweel announced to be merged into Emirates Industrial Bank and Real Estate Bank111http://www.thenational.ae/article/20081123/BUSINESS/431675069/1005/rss

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23-Nov-2008Emirates Industrial Bank to merge with Real Estate Bank (to form Emirates Development bank)111http://www.thenational.ae/article/20081123/BUSINESS/238712186/0/SPORT

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23-Nov-2008KSA cuts repo rate by 1.00 to 3.001http://www.bloomberg.com/apps/news?pid=20601087&sid=am3HbLeyxU8Y&refer=home

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1-Dec-2008Federal government announces expansion of budget, 21% to 42.2 billion dirhams, the largest ever1

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16-Dec-2008US Fed cuts fed funds rate by .75-1.00 to 0-0.251http://www.federalreserve.gov/fomc/fundsrate.htm

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16-Dec-2008KSA cuts repo rate by .50 to 2.51http://www.sama.gov.sa/sites/SAMAEN/FinanceExRate/RepoRate/Pages/RepoRate.aspx

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17-Dec-2008CBK cuts discount rate by .50 from to 4.25 to 3.751http://www.cbk.gov.kw/cbkweb/servlet/cbkNewsMain?Action=newsdisp&id=1340

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24-Dec-2008Central Bank creates dollar/dirham swap facility11http://www.thenational.ae/article/20081225/BUSINESS/187967209

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31-Dec-2008FNC approves 21% increase in Federal Budget to Dh42.2bn11http://www.thenational.ae/article/20090101/NATIONAL/6435066/1010 http://www.thenational.ae/article/20090101/BUSINESS/15029501/1005

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7-Jan-2009Abu Dhabi Economic Vision 2030 released1http://www.abudhabi.ae/egovPoolPortal_WAR/appmanager/ADeGP/Citizen?_nfpb=true&_pageLabel=P5800395121229515835296&lang=en // http://www.thenational.ae/article/20090108/BUSINESS/20241539/1005

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10-Jan-2009Dubai approves 42% increase in budget to Dh135 bn, with Dh4.2bn deficit11http://wam.ae/servlet/Satellite?c=WamLocEnews&cid=1226857998441&pagename=WAM%2FWAM_E_PrintVersion

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19-Jan-2009UAECB cuts overnight repo rate by .50 from 1.5 to 11http://www.thenational.ae/article/20090119/BUSINESS/490068047&SearchID=73350563185046 // http://www.centralbank.ae/pdf/Releases/pressRel19-01-2009.pdf

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19-Jan-2009KSA cuts repo rate by .50 to 21http://www.sama.gov.sa/sites/SAMAEN/FinanceExRate/RepoRate/Pages/RepoRate.aspx

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1-Feb-2009Nasser al Shakih says Dubai will not run fiscal deficit in 20091

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4-Feb-2009UAE Cabinet creates steering committee for Amlak/Tamweel, headed by Min. of Econ. Al Mansouri111http://zawya.com/story.cfm/sidZW20090204000097/%3D%20UPDATE:%20UAE%20Committee%20To%20Develop%20Strategy%20For%20Amlak,%20Tamweel

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4-Feb-2009Abu Dhabi injects Dh16bn into 5 local banks11

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19-Feb-2009ICD meets shortfall of $900 million in $3.4 billion Borse Dubai refinancing1http://www.thenational.ae/article/20090219/BUSINESS/150814564/0/NEWS

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20-Feb-2009Ministry of Finance amends terms of long-term deposits, allows banks to convert into tier 2 capital1http://www.thenational.ae/apps/pbcs.dll/article?AID=/20090305/BUSINESS/391147183/0/FORUMS

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22-Feb-2009Dubai announces $20bn bond program, Central Bank to buy first $10bn11http://www.thenational.ae/article/20090223/NATIONAL/877059782/0/NONE

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25-Feb-2009Nasser al Shaikh says first $10bn of bonds to go to property companies1http://www.thenational.ae/article/20090225/BUSINESS/391497656/0/FRONTPAGE

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9-Mar-2009Suwaidi says there is a Dh110bn gap between loans and deposits at local banks because of outflow of hot money11

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10-Mar-2009Amlak-Tamweel steering committee finalizes and submits recommendations to government111

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16-Mar-2009Khalifa says economy fine, Abu Dhabi not buying Dubai companies11http://www.thenational.ae/article/20090316/NATIONAL/465058646

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25-Mar-20092008 GDP was 7.4 per cent, announced by Mansouri11http://www.thenational.ae/article/20090325/BUSINESS/645652623/1138/rss

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1-Apr-2009Abu Dhabi raises $3 billion selling bonds to international investors; part of a $10 billion bond programme1http://www.thenational.ae/article/20090402/BUSINESS/513026090/1005

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12-Apr-2009CBK cuts discount rate by 0.25 from 3.75 to 3.501

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14-Apr-2009UAECB discloses balance sheet, profit, assets/liabilities1http://www.thenational.ae/article/20090414/BUSINESS/690539760/1005 // http://www.centralbank.ae/pdf/Releases/pressRel13-04-2009.pdf

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18-Apr-2009Ruler of Dubai says "worst is over"1http://www.thenational.ae/article/20090419/NATIONAL/800997054

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22-Apr-2009Dubai Q1 GDP growth estimated at 1% by Dr Omar bin Sulaiman????11

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26-Apr-2009Suwaidi addresses IMF1http://www.imf.org/External/spring/2009/imfc/statement/eng/are.pdf

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27-Apr-2009CB says banking sector doing fine, releases figures on sector11http://wam.ae/servlet/Satellite?c=WamLocEnews&cid=1238851267197&p=1135099400295&pagename=WAM%2FWamLocEnews%2FW-T-LEN-FullNews

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29-Apr-2009Abu Dhabi to experience 7% or lower inflation this year1http://www.thenational.ae/article/20090428/BUSINESS/704289962/1005

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5-May-2009GCC puts Gulf Central Bank in Riyadh; UAE delegation expresses "reservations" over decision11http://www.thenational.ae/article/20090506/NATIONAL/705059793/1010/PAGETHREE

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7-May-2009Loan to deposit gap in the UAE banking sector has shrunk to Dh91-92bn - Suwaidi1http://www.bloomberg.com/apps/news?pid=20601104&sid=aYxxC7Z4cyeA

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10-May-2009RERA chief Marwan bin Ghalita says Dubai considering scrapping 27 projects11http://www.thenational.ae/article/20090511/BUSINESS/705119958/1051

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17-May-2009Dubai Department of Economic Development announces planned program to give SMEs short-term loans1http://www.thenational.ae/article/20090517/BUSINESS/705179964/1005

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18-May-2009Nasser Al Shaikh removed as Dir General of the Dubai Department of Finance1http://www.thenational.ae/article/20090521/BUSINESS/705219958 // http://www.meed.com/news/2009/05/dubais_finance_director_removed.html

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20-May-2009UAE drops out of GCC monetary union, reaffirms commitment to dollar peg11http://www.thenational.ae/article/20090520/BUSINESS/705209978/1118/

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3-Jun-2009MoE releases new, monthly inflation numbers. Annual inflation fell to 1.9 per cent in April 09. 11http://www.thenational.ae/article/20090604/NATIONAL/706039808/1133

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7-Jun-2009MoE releases 2008 non-oil trade data. Non-oil trade gap up 53% to Dh342bn111http://www.thenational.ae/article/20090607/BUSINESS/706079939/1005

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17-Jun-2009FNC passes new public debt law, limiting UAE's debt to 45% of its GDP, and emirates to 15% of theirs11http://www.thenational.ae/article/20090617/BUSINESS/706179902/1005

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24-Jun-2009Nasser al Shaikh removed from all government positions, after having resigned from 4 company posts days earlier1

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26-Jun-2009Dubai Holding and Emaar announce talks to merge property holdings1http://www.thenational.ae/apps/pbcs.dll/article?AID=/20090627/BUSINESS/706269782

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22-Jul-2009Dubai's Dept. of Finance announces royal decree establishing independent Dubai Financial Support Fund (DFSF)11http://www.thenational.ae/apps/pbcs.dll/article?AID=/20090722/BUSINESS/707229909/1005

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10-Aug-2009Sheikh Khalifa lifts Dh150,000 minimum capital requirement for new businesses1http://www.thenational.ae/apps/pbcs.dll/article?AID=/20090811/NATIONAL/708109838/1133

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12-Aug-2009Sheikh Mohammed bin Rashid appoints board of DFSF and names executive director, Marwan Abedin1111http://www.thenational.ae/apps/pbcs.dll/article?AID=/20090813/BUSINESS/708129864/1133

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22-Aug-2009Dubai Holding says it has completed merger between Dubai Properties, Sama Dubai and the property units of Tatweer; and between Tecom, Healthcare City and Industrial City1http://www.thenational.ae/apps/pbcs.dll/article?AID=/20090822/BUSINESS/708229954

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31-Aug-2009UAECB cuts rate for its liquidity support facility to 1.5% from 2.5%; lowers capital adequacy ratio to 7%11http://www.thenational.ae/apps/pbcs.dll/article?AID=/20090831/BUSINESS/708319950; http://www.thenational.ae/apps/pbcs.dll/article?AID=/20090903/BUSINESS/709039944

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25-Oct-2009Dubai announces plan to sell as much as $6.5bn in bonds; $4bn in conventional bonds and $2.5bn in Islamic bonds1http://www.thenational.ae/apps/pbcs.dll/article?AID=/20091026/BUSINESS/710259915

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26-Oct-2009UAE announces 3.4 per cent increase in 2010 budget to Dh43.6bn; no VAT

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27-Oct-2009Dubai sells $1.93bn in Islamic bonds, paying investors roughly 6.5 per cent

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25-Nov-2009Dubai says it has sold $1bn in bonds to NBAD and Al Hilal Bank, part of agreement by the banks to buy $2.5bn each of Dubai bonds1111http://www.thenational.ae/apps/pbcs.dll/article?AID=/20091126/BUSINESS/711259822/1001

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25-Nov-2009Dubai says the DFSF has appointed a "chief restructuring officer" to oversee Dubai World and will ask creditors for a six-month delay in payments by the company and its property-development unit, Nakheel111http://www.thenational.ae/apps/pbcs.dll/article?AID=/20091126/BUSINESS/711259811/1005

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29-Nov-2009Central Bank says it is making unspecified amount of liquidity available to banks operating in the UAE11http://www.thenational.ae/apps/pbcs.dll/article?AID=/20091129/BUSINESS/711299940

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8-Dec-2009Dubai Dept. of Finance says Dubai World was lent Dh9bn "earlier in the year" from proceeds of $10bn bond sale to Central Bank111http://www.thenational.ae/apps/pbcs.dll/article?AID=/20091209/BUSINESS/712099994

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9-Dec-2009Emaar says it has called off merger talks with Dubai Holding1http://www.thenational.ae/apps/pbcs.dll/article?AID=/20091209/BUSINESS/712099900

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14-Dec-2009Dubai announces that it will sell $10bn in bonds to Abu Dhabi, paying off $4.01bn owed to Nakheel bondholders and using remaining $5.9bn to service debt and pay contractors, contingent on Dubai World obtaining creditor agreement to its proposed 6-month standstill1111http://www.thenational.ae/apps/pbcs.dll/article?AID=/20091214/BUSINESS/912149991

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14-Dec-2009Dubai announces Ruler decree creating 3-member tribunal for hearing cases related to Dubai World's restructuring1http://www.thenational.ae/apps/pbcs.dll/article?AID=/20091214/BUSINESS/712149878

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Note: Dates with yellow background are approximate.

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Need dates:

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Central Bank announces new capital adequacy ratios: 11% in June 30th of 2008, 12% in June 30th of 2009 11

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Emirates NBD exercises option to convert Dh6.3bn of MoF deposits into Tier 2 debt1

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Central bank says banks can't release annual results until approved by CB11

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Central Bank reneges, saying banks can release annual results before approved by CB11

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Dubai announces expansion of budget of 42% to 37.7 billion dirhams, projects fiscal deficit of 4.2 billion dirhams, or 1.3% of its GDP1

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