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 …
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 …
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 …
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 …
Abu Dhabi: Abu Dhabi Aviation Co PJSC, a UAE-based operator of helicopters and airplanes, surged to the highest in 23 months after the company announced changes to its board of directors last week. Abu Dhabi Aviation rose 38 fils, or 8.2 per cent, to Dh5.02 on the Abu Dhabi Securities Market yesterday, its highest since …
Abu Dhabi: President His Highness Shaikh Khalifa Bin Zayed Al Nahyan, in his capacity as Ruler of Abu Dhabi, has issued the purchases, tenders, and bidding and warehouses law. The new law, which abrogates the existing law of 1977, is aimed at decentralising government purchases in a way that will strike a balance between powers …
Lire la suite Abu Dhabi: Khalifa issues new law governing purchases
Dubai: The 2008 Dubai Shopping Festival was brought to a close with an awards ceremony on Sunday night. The ceremony was attended by Shaikh Maktoum bin Mohammad bin Rashid Al Maktoum, Deputy Ruler of Dubai; Shaikh Ahmad bin Saeed Al Maktoum, Chairman of the DSF Supreme Committee, and a host of other officials and dignitaries. …
Lire la suite Dubai Shopping Festival brought to a close with awards ceremony
Doha: Qatar’s prime minister has urged Gulf oil producers to bridge differences over a single currency, saying monetary union could avert possible unilateral revaluations designed to check soaring inflation. Qatar’s dollar-pegged riyal is undervalued by as much as 30 per cent and currency revaluation is being studied, among several options, to check inflation, Shaikh Hamad …
Beijing: Etihad Airways is in talks with Airbus and Boeing Co. to order between 50 and 100 aircraft as it seeks to turn Abu Dhabi into a global travel hub. The carrier expects to receive the planes between 2013 and 2020, chief executive officer James Hogan said yesterday in Beijing. The orders will probably include …
London: Oil prices are likely to continue to rise rampantly for awhile yet as supply worries and investor demand for commodities outweigh concerns of economic slowdown. Crude hit a record high of $101.32 on Wednesday. The price has climbed from below $50 at the start of 2007 and below $20 in early 2002. « From here, …
