Cairo: Mohammad Hosni Mubarak, the Egyptian president, yesterday received Shaikh Mansour Bin Zayed Al Nahyan, Minister of Presidential Affairs. The meeting was attended from the Egyptian side by Rashid Mohammad Rashid, minister of trade and industry and from the UAE side, by Mohammad Bin Dha’en Al Hamili, Minister of Energy and Sultan Bin Saeed Al …
Dubai: Arabian Gulf shares fell on concern that a possible recession in the US will deter investments in the region and as investors await first-quarter results. Dubai’s main index dropped almost three per cent, posting its sharpest one-day decline in two months, to 5,248.88 led by Emaar Properties and Dubai Financial Market Co (DFM). Abu …
Lire la suite Dubai stocks suffer biggest one-day fall in two month
Kuala Lumpur: Malaysia’s WCT Engineering said on Wednesday it has won an extra 800 million ringgit ($252 million) contract for its Formula 1 race-track project in Abu Dhabi, raising the total contract value to 2.1 billion ringgit. Executive director Loh Siew Choh said the project would now be completed in June 2009, six months later …
Dubai: Gulf banks and individual investors are planning to set up a $3 billion Islamic investment bank and an Islamic stock exchange in Bahrain by 2009, the chief executive of Al Baraka Banking Group said. « It will be the largest bank in the region for the issuance of sukuk and will create a secondary market …
Dubai : The general assembly of Etisalat has approved a 35 per cent cash dividend of the nominal share value for the second half of 2007 to be distributed to shareholders. This brings the total cash dividend distributed in 2007 to 60 per cent of the nominal share value. In its meeting on Monday, the …
Dubai: Abu Dhabi government-owned Ipic and Qatar Investment Authority (QIA) will invest $2 billion in a new fund for global acquisitions, the managing director of Ipic said yesterday. « We plan to invest in all sectors, including oil and petrochemicals, » Khadem Al Qubaisi said. The fund could thus mark a new direction for the International Petroleum …
Lire la suite UAE and Qatar will set up $2b acquisition fund
Dubai : The general assembly of Etisalat has approved a 35 per cent cash dividend of the nominal share value for the second half of 2007 to be distributed to shareholders. This brings the total cash dividend distributed in 2007 to 60 per cent of the nominal share value. In its meeting on Monday, the …
Wahington: The US Treasury Department on Thursday said it agreed with Abu Dhabi and Singapore on a set of principles for sovereign wealth funds that specifies politics should not influence their decisions. The foreign-controlled funds, many based in the Middle East but also in Asia, Russia and China, have aroused US lawmakers’ concern because they …
Lire la suite US agrees on principles for sovereign funds with Abu Dhabi, Singapore
Dubai: The 8th Global Travel and Tourism Summit, a World Travel and Tourism Council (WTTC) initiative, will be held in Dubai from 20th to 22nd April at the Madinat Jumeirah. Congress Solutions International (CSI), the official summit co-ordinator, is putting the finishing touches to the event. « Dubai is one of the world’s fastest-growing tourism hubs. …
Lire la suite Dubai to host global travel and tourism summit next month
Shanghai: DP World aims to boost its container-handling capacity in China 30 per cent this year because of the country’s surging trade growth. The company plans to add four container berths in Qingdao, eastern China, and a second venture in the northern port of Tianjin, Kris Chang, managing director of DP World China, said on …
