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 …
Saudi Arabia, the world’s top oil exporter, said there was a need to achieve balance and stability on the oil markets to guarantee continuous investment in the sector, the state news agency SPA reported. Saudi Arabia « emphasised the need to achieve balance in the oil market » and is keen on « the stability of the oil …
Lire la suite Saudi Arabia says need for balance on oil markets
Saudi Arabia plans to extend 10 billion riyals ($2.7 billion) in credit to low-income citizens as Gulf Arab oil-producers step up efforts to contain the fallout from the global financial crisis. Saudi King Abdullah bin Abdulaziz ordered that the additional funds be deposited in the Saudi Credit Bank, which was established to extend interest-free loans …
Lire la suite Saudi Arabia to provide easy loans to citizens
The Bahraini real estate market will extend growth on healthy local demand but at more moderate rates than those seen in the past two years, according to an executive at a major developer. The country has seen a higher proportion of local and regional investors – rather than expatriate buyers – in its property market …
The current lull in the global property and construction market is pushing several industry players, especially contracting companies, to enter the GCC, and the UAE in particular, in search of better opportunities. According to industry experts, more than a hundred new companies from Europe and the United States are currently looking for opportunities to either …
