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 …
A state-of-the-art Children’s Public Library, the first ever is to be constructed in the Sultanate of Oman, as part of the government’s vision to create a knowledgeable and well-balanced society. The Philadelphia based company, VITETTA a renowned library developers, have been appointed as the project consultants. The company is at the forefront of library design …
The liquidity crunch in the United Arab Emirates banking sector is stabilising but the Gulf state’s central bank is ready to do more if needed, UAE Central Bank Governor Sultan Nasser ALl Suweidi said on Monday. « Things are getting better and stabilising, » Suweidi told reporters when asked whether the central bank had done enough to …
Lire la suite Liquidity crunch in UAE banking sector stabilising
International Airport is to be equipped with a public prosecution office to handle smuggling, illegal immigration and drugs cases, a senior government lawyer announced yesterday. Mohammed Ali Rustom, the chief prosecutor for Bur Dubai second district, also outlined procedures to deport travellers caught with small amounts of illegal drugs instead of prosecuting them in a …
The UAE will play host to an international donors’ meeting in the first week of November discussing how to bailout Pakistan from bankruptcy and economic turbulence. The meeting of the Friends of Pakistan group will be held in Abu Dhabi with the participation of 25 countries, IMF, World Bank and other international financial institutions. The …
The insurance sector in Bahrain posted strongest annual growth in 2007 with gross premiums surging 21 per cent to BD135.6 million (Dh1,321m) against BD112.4m in 2006, the Central Bank of Bahrain said (CBB). Life insurance contributed the lion’s share of growth, soaring by nearly 67 per cent, with medical and the traditionally strong motor business …
