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  Dubai / Bloomberg Dubai investor Selim Fendi plans to open Monaco’s first gold refinery in early 2017 to meet demand from local and global jewelers looking to make sure they aren’t using metal from conflict areas. Aurum Monaco SAM will produce up to 1 metric ton of gold a month in its first year, with capacity to boost that ...

  Bloomberg Nigerian policy makers may be about to loosen their stranglehold on the nation’s currency. The central bank of Africa’s biggest economy will decide on Tuesday on whether to adjust borrowing as evidence mounts of a looming recession. Barclays Plc, Goldman Sachs Group Inc. and Renaissance Capital Ltd. are among banks predicting it will also introduce a de facto ...

  Reuters Jordan’s central bank said that it had auctioned its first-ever sale of Islamic bonds, or sukuk, a five-year 75 million dinars ($105.9 million) deal to help finance purchases by state utility firm National Electric Power Company. The sukuk, which used a cost-plus-profit arrangement known as murabaha, attracted 205 million dinars worth of bids paying a 3.5 percent profit ...

  Bloomberg UniCredit SpA Chief Executive Officer Federico Ghizzoni may resign as soon as on Tuesday amid investors’ demands for a change in management, people with knowledge of the situation said. The bank’s board will meet tomorrow and may authorise its nomination committee to begin the search for a new CEO, said one person, asking not to be identified because ...

  JAKARTA / Reuters Ares Capital Corp., the publicly traded lender managed by alternative investment firm Ares Management LP, will acquire American Capital Ltd. in a deal valued at around $3.4 billion. Ares Capital will pay $14.95 a share in cash and stock for Bethesda, Maryland-based American Capital, the companies said in a statement Monday. The deal excludes American Capital ...

  Bloomberg Britain’s bank chief executives can sleep easy. Peer-to-peer lenders are unlikely to dent their dominance of the loan market over the next decade, according to Deloitte LLP. Online platforms connecting investors directly with consumer and commercial borrowers will probably account for about 1 percent of the 600 billion pounds ($874 billion) of total lending by 2025, according to ...

  EMIRATES BUSINESS Qatar First Bank L.L.C. (QFB), a leading Shari’ah compliant bank based in Qatar offering investment opportunities and innovative financial solutions with local, regional and international reach, announced the signing of an agreement with JLL, in order to offer shareholders and clients the ability to source real estate opportunities based on their specific requirements and budget. Signed at ...

  AP Midwestern homebuyers helped spark a national increase in real estate sales during April, a sign that demand for housing remains steady despite rising prices and tight inventories. Sales of existing homes rose 1.7 percent last month to a seasonally adjusted annual rate of 5.45 million, the National Association of Realtors said. Americans are eagerly searching for homes. But ...

  AFP Four lucky competition winners are set to be the first people in history to use the Eiffel Tower as a vacation home next month. Rental company HomeAway is taking over part of the first floor of the iconic 300-meter (yard) landmark for the duration of the UEFA Euro 2016 soccer tournament in Paris, and transforming it into Hausmannian-style ...

  Bloomberg A luxury-condo project planned for the lower Manhattan site of what was once to be the “Ground Zero mosque” has received $219 million in financing from an international consortium of lenders, paving the way for 50 high-end units to enter a New York market that is growing heavy with them. Developer Soho Properties, led by Sharif El-Gamal, said ...