The United Arab Emirates is pumping around 2.3 million barrels per day (bpd) of oil, down from 2.5 million, after cutting output in line with an OPEC decision and shutting some wells for maintenance, a state oil company official said. « Now we’re producing around 2.3 million bpd, » Abu Dhabi National Oil Company (ADNOC) deputy chief …
The UAE is eager to boost investment in the United States and sees good opportunities as the global financial crisis has cut the price of many companies, Foreign Trade Minister Sheikha Lubna bint Khalid Al Qasimi said in an interview. « A lot of these are great companies. There is nothing wrong with these companies… They …
Sales prices of apartments in Dubai rose 20 per cent as rentals registered a marginal jump of four per cent in the third quarter of 2008 compared to the previous quarter, according to a report. Unit prices in Discovery Gardens registered a growth of 39 per cent, while International City rose 31 per cent due …
Drake & Scull International (DSI), a service provider of mechanical, electrical and plumbing contracting and civil contracting in the UAE, became the latest company to join Build Safe Dubai (BSD) as part of its ongoing commitment to maintaining the highest standards of health, safety and welfare. BSD is a not-for-profit organisation with members in the …
Kuwait Government agreed to buy an equity stake in Gulf Bank, the country’s second-largest lender by assets, after the bank announced unspecified losses from derivative trading last week, Kuwait news agency Kuna reported, citing Finance Minister Mustafa Al Shimali. The government, which already guaranteed customers’ deposits with the bank, will « contribute to the bank’s capital » …
Ras Al Khaimah is promoting itself as an authentic and nature-oriented destination among German-speaking tourists and has found a novel route to do so by offering to host a Miss Germany 2009 Camp from January 28 to February 7. The finals will be held in Germany on February 14. « Our main focus is to raise …
Dubai-based Emirates Islamic Bank (EIB) yesterday said its third quarter profits jumped 207 per cent to Dh443 million against Dh144m for the same period last year. The Islamic bank said its income in the third quarter grew to Dh1.17 billion from Dh654m, registering a growth of 79 per cent. At the end of September, total …
Lire la suite Emirates Islamic Bank’s quarterly profits jump 207%
Dubai-based Danube Building Materials plans to invest Dh40 million in Bahrain’s steel market, the company has announced. Danube officials said the investment is part of the company’s plans to target the booming construction market in Bahrain. The GCC steel trade is expected to cross $200 billion (Dh735bn) in 2010, according to latest studies, as a …
Dubai Investments, which owns stakes in more than 40 companies has maintained its earnings growth with net profit for the first nine months surging to record levels. Net profit for the year to September increased Dh1.67 billion from Dh1.07bn for the same period last year, an increase of 56 per cent. Total income for the …
Dubai World is eyeing once-in-a-lifetime bargains across the globe stemming from the financial crisis and remained bullish on its home market. Chairman Sultan Ahmed bin Sulayem said yesterday Dubai World, whose businesses range from shipping to real estate, saw opportunities that his firm « could never take advantage of again ». « Today there are things in the …
