Dubai Investments, which owns stakes in more than 40 companies has maintained its earnings growth with net profit for the first nine months surging to record levels. Net profit for the year to September increased Dh1.67 billion from Dh1.07bn for the same period last year, an increase of 56 per cent. Total income for the …
Dubai World is eyeing once-in-a-lifetime bargains across the globe stemming from the financial crisis and remained bullish on its home market. Chairman Sultan Ahmed bin Sulayem said yesterday Dubai World, whose businesses range from shipping to real estate, saw opportunities that his firm « could never take advantage of again ». « Today there are things in the …
This may come as a surprise to some, but the multi-billion dollar halal industry is not just about food. There are many consumer goods from cosmetics to healthcare products that all fall under the banner. While the customs behind halal meat are well known, the production of other products is less obvious. For example, some …
Environmentally-minded residents who separate their rubbish and shop with reusable bags in their home countries may be disappointed when they move to the UAE. A co-ordinated, Emirates-wide program to collect and recycle separated domestic waste appears a distant ideal, while a lack of awareness may be thwarting many existing, well-intentioned recycling schemes. However, there are …
Lire la suite The Big Debate: Recycling – is the UAE doing enough?
Qatar downplayed the impact of the global credit crisis on its investment plans, saying in media reports that it would continue to boost investments at home and would not pull out of depressed global holdings. Qatar, the world’s biggest exporter of liquefied natural gas, has been investing windfall oil revenues in infrastructure and industry and …
Lire la suite Qatar downplays crisis impact, will continue to invest
Two Gulf Co-operation Council member states – Kuwait and Bahrain – yesterday said annual inflation eased as food and beverage prices dropped from the year earlier. Annual inflation in Kuwait eased slightly to 11.1 per cent in July from 11.35 per cent in June, official data showed yesterday. All Items Consumer Price Index advanced to …
General Sheikh Mohammed bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, received at his Al Bateen palace yesterday Colombian Minister of Trade, Industry and Tourism, Luis Guigermo Plata Paez. Sheikh Mohammed stres-sed the importance of exchange visits by officials of the two friendly countries for first-hand …
A high-level Bush administration official says the battered US economy is open to more investment by Middle Eastern government-owned funds and other wealthy investors. Speaking to officials and reporters at the Dubai International Financial Centre during a five-country Gulf tour, Deputy US Treasury Secretary Robert Kimmitt says he is meeting with sovereign wealth funds, companies …
Lire la suite US official says America open to Gulf investors
Emirates Money Consumer Finance, the company launched yesterday by EmiratesNBD, will lend up to Dh1 billion to individuals and small businesses until the end of 2009, a senior executive said yesterday. « Our customer research has told us that we have a winning proposition and the new company is planning to lend up to Dh1bn until …
Lire la suite EmiratesNBD launches new consumer finance firm
The continuing slide of oil prices will not erode UAE’s energy sector revenues, Dubai’s leading investment bank affirmed yesterday. In its earnings preview, Al Mal Capital said the UAE energy sector will post « strong year-on-year (YoY) results » in the third quarter of 2008. Two prominent energy sector companies in the UAE will, in fact, register …
