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Thursday, April 4, 2013

Consumer spending in UAE to reach Dh677b

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With the economy recovering and the cost of living moving upward, consumers in the UAE are expected to spend more out of their pockets th...
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Gulf RAK Oil sets up lubricant production plant at Maritime City

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Gulf RAK Oil LLC, a state-of-the-art lubricant manufacturing plant and grease processing facility jointly set up by the government of Ras...
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DSI secures SR376m worth of contracts in Riyadh, Abu Dhabi

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Drake & Scull International PJSC (DSI), a regional market leader in the integrated design, engineering and construction disciplines ...
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Kingdom’s investment pace seen to slow down

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Saudi Arabia’s investment in development projects will continue but at slower pace in the coming years, Saudi American Bank group (SAMBA)...
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Saudi stock market, other GCC bourses ascend

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Stocks markets in the GCC countries ended in positive note Wednesday, except Bahrain’s. In Saudi Arabia, the index ticked up 0.08 percent t...
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World’s largest airport spreads wings in Dubai – Passenger services to begin on Oct 27

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Dubai’s new international airport, which started cargo operations in 2010, will open its long-delayed passenger terminal on Oct 27 with t...
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Qualitynet launches QBusiness

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Qualitynet, Kuwait’s No 1 Total Solutions Provider has introduced the first-of-its-kind portal for corporate customers. The portal also ...
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Slashing expat workforce detrimental to economy

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Manpower is the backbone and the most valuable asset and capital of a country’s economy and it must therefore be protected and nurtured, ...
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Assembly overwhelmingly approves debt relief law – MPs nod to election commission decree despite criticism

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The National Assembly yesterday overwhelmingly passed in the second and final reading of a debt relief law requiring the government to pa...
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RasGas opens new state-of-the-art warehouse complex at Ras Laffan

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RasGas has opened a new state-of-the-art warehouse at Ras Laffan. The new warehouse provides support and services for all internal and ex...
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QE listed firms post slight fall in cumulative 2012 net profitability

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Companies listed on the Qatar Exchange registered a marginal decline in their cumulative net profitability in 2012, dragged mainly by pre...
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It's “raining cash”, says Nakheel CEO

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The new CEO of Nakheel has claimed that Dubai is “raining cash”, citing the huge demand in the emirate for hotel rooms. In a speech to th...
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Alwaleed blames 'bad planning' for Saudi housing crisis

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Saudi Arabia’s shortage of adequate housing for its growing population is a result of “bad planning” and the absence of legislation that ...
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L&T wins $257m Abu Dhabi airport contract

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Larsen & Toubro (L&T) said on Wednesday it has won a AED943m ($257m) contract from Abu Dhabi Airports Company to work on the cons...
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Qatar's Hassad buys stake in Indian rice firm

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Hassad Food Co, the agricultural investment arm of Qatar’s sovereign wealth fund, has bought a majority stake in an Indian basmati rice c...
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Bahrain's Batelco completes $570m overseas deal

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Bahrain-based Batelco Group on Wednesday announced the finalisation of its acquisition of various companies from Cable & Wireless Com...
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Nakheel sells out of retail space at new Dubai mall

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Dubai developer Nakheel said on Wednesday that all retail space has now been leased out at its new Discovery Gardens mall which is due to...
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MidEast airlines lead world on passenger growth

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Middle East carriers saw year-on-year passenger demand expand by 10.6 percent in February, the strongest performance in the world, the In...
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UAE's Mubadala said to sign $2bn loan refinancing

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Abu Dhabi state investment fund Mubadala has signed a $2bn loan refinancing, two banking sources said on Wednesday. The three-year revolv...
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Zain Saudi extends maturity on $600m facility

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Telecom operator Zain Saudi has extended the maturity of a $600m facility until May 1, according to a statement on Saudi Arabia's bou...
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Sedco Capital plans to increase Islamic funds

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Jeddah-based investment firm Sedco Capital aims to expand its range of Islamic funds to more than 15 by year-end, a sign of improving fin...
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Saudi Binladin Group prices $347m Islamic bond

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Saudi Binladin Group, one of the largest construction firms in the kingdom, has priced a 1.3 billion riyal ($346.7 million) Islamic bo...
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