MANAMA: The Duke of Gloucester praised Bahrain’s petrochemical industry during a visit to the GCC-Europe exhibition in London. Prince Richard was speaking when he visited the stand of the Gulf Petrochemical Industries Company (GPIC) at the exhibition. The Duke was accompanied by Bahrain Chamber of Commerce and Industry chairman Dr Essam Fakhro. The guests were …
Kuwaiti passengers travelling to Dubai can now avail of Wataniya Airways’ services. The carrier, which is Kuwait’s new full service luxury airline will provide two daily flights to Dubai, as its first destination from February 2009. This was announced during a press conference held at Kuwait’s Royal Terminal – the new luxury departure point for …
Lire la suite Wataniya Airways’ first flight to Dubai in Feb
Bahrain is looking at raising the guarantee on bank deposits to a maximum of BD20,000 (Dh194,880) from BD15,000, said its central bank governor. « The governor of Bahrain central bank unveiled plans to raise the guarantee on bank deposits of commercial banks in Bahrain to BD20,000 from BD15,000, » said Rasheed Al Maraj. « The transactions of banks …
Dubai World’s intentions to increase its investment in MGM Mirage have been given a green signal, according to an official at Dubai World. However, the executive added that it won’t happen in near future, « or at least until market conditions warrant such a move ». Dubai World took over 9.4 per cent of MGM Mirage last …
Kuwait’s central bank revamped monetary policy tools yesterday by introducing new repurchase agreements as Gulf oil producers stepped up efforts to boost bank liquidity and bolster investor confidence. In the latest move by Gulf states to unthaw credit markets, Kuwait’s central bank yesterday announced it would offer repo agreements with maturities of one day and …
Lire la suite Kuwait revamps policy tools to boost liquidity
Nasser Al Shaikh, Director-General of Dubai Department of Finance, has stressed infrastructure projects in Dubai, including Roads and Transport Authority plans and the new airport in Jebel Ali, would continue as scheduled in Dubai Strategic Plan for 2015. He said due to the global financial crisis and new challenges that Dubai may face, there would …
Dubai has set up a supreme financial committee to deal with its sovereign debt as well as challenges arising from the global financial crisis, a senior official said yesterday. Nasser Al Shaikh, Director-General of the Dubai Department of Finance, said the committee was established about eight weeks ago and would look at the various challenges …
National Bank of Fujairah (NBF) yesterday said that Steve Mullins has stepped down from the post of chief executive officer with immediate effect, while Tim Goddard and Chris Taylor will together act as joint interim CEO. NBF Deputy Chairman Easa Saleh Al Gurg said: « National Bank of Fujairah is an ambitious bank. Our potential is …
Lire la suite National Bank of Fujairah chief executive resigns
Doha Bank, Qatar’s third- biggest bank by assets, said yesterday it would seek shareholder approval to raise its capital by up to 20 per cent and give that stake to the country’s sovereign wealth fund, the Qatar Investment Authority (QIA). Shareholders would meet on December 21 to discuss the plan, which would involve issuing up …
Etisalat is in an upbeat mood and is scouting for a number of deals in the region, Emirates Business has learnt. Ahmad Abdulkarim Julfar, Chief Operating Officer, said the company is set to take advantage of the global financial crisis and is eyeing regional acquisitions. « This financial crisis creates a good environment for opportunities so …
