14 mars 2008 Par La Rando

Jumbo plans Dubai listing with eye on retail investor

Dubai: Jumbo Group, the $2 billion electronics retailer, is planning to expand business organically as well as through acquisitions, in addition to a planned listing in Dubai. « Given Jumbo’s current financial position, we would, in fact, be interested in acquiring some businesses with synergies, » Vidya Chhabria, chairperson of Jumbo Group, said, responding to takeover rumours. …

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12 mars 2008 Par La Rando

Airline officials in UAE optimistic of India operations

Dubai: Airline officials in the UAE on Tuesday said they would continue to operate flights to India despite a major strike by airport employees. « Emirates flights to India will continue to operate as per schedule, » the Emirates spokesperson said in an e-mailed statement « We have been informed that airport authorities and private ground handling agencies …

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8 mars 2008 Par La Rando

Oil prices hit new record above $106 on interest rate, dollar expectations

New York: Oil prices jumped to a new record above $106 on Friday but extended their recent pattern of choppy trading after a weak jobs report convinced many traders that the Federal Reserve’s interest rate-cutting campaign will continue. Employers cut 63,000 jobs in February, the biggest drop in five years, the Labor Department said Friday. …

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5 mars 2008 Par La Rando

Dubai International Capital confirms bid for Liverpool

Dubai: Dubai International Capital, the private equity arm of the Dubai Holding, said on Tuesday that it is bidding to buy the Liverpool football club, but said the company has not reached an agreement with the American owners of the club on the valuation. « It’s no secret that we have been in discussions with the …

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2 mars 2008 Par La Rando

New company to manage Dubai events

Dubai: The Dubai Government has issued a law establishing an event management agency with a capital of Dh150 million to manage and organise cultural and sports events, exhibitions and conferences in the emirate. His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, yesterday issued the …

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1 mars 2008 Par La Rando

UAE and Germany to boost cooperation

Munich: His Highness Dr Shaikh Sultan Bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, received here on Thursday Speaker of the Bavarian Parliament Alois Gluck. During the meeting held at the Marriot Munich, they discussed bilateral relations and cooperation between Sharjah and Germany, especially in the fields of economy, culture, science and …

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29 février 2008 Par La Rando

Ajman Bank says IPO is oversubscribed

Dubai: Investors offered more than the $550 million ($150 million) Ajman Bank, the UAE’s seventh Islamic lender, was looking to raise in its initial public offering that closed on Wednesday, the bank’s CEO said. « It was fully subscribed in the first week and the oversubscription came in the last three days, » chief executive Yousuf Khalaf …

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29 février 2008 Par La Rando

Saudi rail firm to award $5b contract by June

Dubai: Saudi Arabia’s railway organisation said it would name by June the winner of its estimated $5 billion project to build a 1,100 km railway across the Saudi desert. Four groups of Saudi and international firms are vying for the 30-year contract to build and operate the rail network linking the Gulf and Red Sea …

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29 février 2008 Par La Rando

Gold hits another record as oil inches up

London: Spot gold raced higher to a record high of $966.70 an ounce on Thursday, as a fall in the dollar against the euro and strong oil prices boosted investor buying, traders said. Gold was last quoted at $966.00/$966.90 an ounce at 1606 GMT, against $957.50/$958.30 in New York late on Wednesday. Meanwhile, oil rose …

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29 février 2008 Par La Rando

Gulf currencies up as dollar sinks

Dubai: Gulf currencies rose yesterday as the dollar hit a new record low against the euro, prompting speculation the region’s economies may revalue or drop their pegs to contain inflation. The dollar plunged to a new record low as the US government confirmed that American economic growth expanded at a sluggish 0.6 per cent in …

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