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ATM 2014 announcements: Expansion plans, new launches...

With the opening of the Arabian Travel Market 2014 today, a number of hotels have announced their expansion plans and new management deals with hotel owners.

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Bank in Saudi Arabia finance to Kafala-backed SMEs up 28%

The volume of finance provided by Saudi banks to Kafala-supported small and medium enterprises (SMEs) grew by 28% to SR 571.8m in the first quarter of 2014 compared to SR 448.3m in the same period last year, Saudi Press Agency reported.

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Bank in Saudi Arabia finance to Kafala-backed SMEs up 28%

The volume of finance provided by Saudi banks to Kafala-supported small and medium enterprises (SMEs) grew by 28% to SR 571.8m in the first quarter of 2014 compared to SR 448.3m in the same period last year, Saudi Press Agency reported.

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INDONESIA PRESS-BII disburses USD100m shariah loans to Garuda -Investor Daily

Lender PT Bank Internasional Indonesia (BII) has disbursed USD 100 million worth of shariah loans to PT Garuda Indonesia GIAA.JK to finance the airline's expansion, said BII CEO Taswin Zakaria.

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AUDIO: Google boss defends UK tax record

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Spain population shrinks amid crisis

People queue outside a job centre in Madrid. Photo: April 2013High unemployment levels force many Spaniards and foreign residents to leave the country

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Spain's population fell last year for the first time in decades, as immigrants left the country amid a major economic crisis, officials say.

The National Statistic Institute (NSI) says the number of residents dropped by almost 206,000 to 47.1m - the decline entirely accounted for by foreigners.

Immigrants from Ecuador and Colombia showed the biggest fall.

The figures do not take into account many Spaniards who have left in search of work but are still on the census.

'Less attractive'

The statistics agency recorded Spain's first population drop since the regular census began in the 1990s.

Although the number of native Spaniards grew in 2012 by some 10,000 - it only minimally offset the overall fall of nearly 216,000 among registered foreign residents.

The figures show that the ongoing economic crisis has reversed the country's rapid population growth in the decade before the financial crisis erupted in 2008.

The bursting of the property bubble and high unemployment levels compounded the situation, forcing many economic migrants from South America and Eastern Europe to leave the country.

"Spain is less attractive because there no jobs," Albert Esteve of the Barcelona Centre for Demographic Studies told Spain's National Radio.

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