Kingdom, Canada to boost links in health sector
(Arab News
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31/01/2011)
Saudi Arabia and Canada, which have been traditionally close partners in the field of education, have evinced keen interest to boost the links further, especially in the health education sector. Sandra Pupatello, minister of economic development for
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IDB to finance Pak power project
(Arab News
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31/01/2011)
The Islamic Development Bank (IDB) has signed an agreement to extend its long-term lease finance (Ijara) facility of up to $90 million for the development of the Uch-II combined cycle independent power plant project in the Baluchistan province of
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Islamic Holding Group posts QR4m net profit
(The Peninsula
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31/01/2011)
Islamic Holding Group has posted net profits to the tune of QR4m. The earnings per share (EPS) was QR1 and total revenues were QR14.2m. The Board of Directors has decided to recommend to the General Assembly to disburse a cash dividend of 13.34 percent
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Opec to discuss oil policy Feb 22 in Riyadh
(Reuters
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31/01/2011)
Opec ministers will discuss oil output policy on the sidelines of an international energy conference in Saudi Arabia on February 22, an Opec delegate said. The Organization of the Petroleum Exporting Countries is under pressure to raise output and rein
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Saudi urged to set up SME authority
(Trade Arabia
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31/01/2011)
Capitas Group International (CGI), a Jeddah-based management consultancy and advisory firm, has recommended a framework for the establishment of an small and medium enterprises (SME) Authority in Saudi Arabia. In its SME sector analysis released on
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ABB wins $53m Saudi substation order
(Trade Arabia
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31/01/2011)
Leading power and automation technology group ABB has won a $53 million order for a substation to ensure reliable power supplies to Saudi-based Najran University. As per the deal, ABB is responsible for design, supply, installation and commissioning of a
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National Bonds posts 3.78% annual profit rate for 2010
(Khaleej Times
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31/01/2011)
National Bonds Corporation, a Shariah compliant saving scheme, on Sunday announced a seven per cent increase in its 2010 annual profit rate to 3.78 per cent compared to 3.54 per cent in 2009 for its bondholders. In addition to the profit on bonds the
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Abu Dhabi airport revenues up 15%
(Khaleej Times
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31/01/2011)
The operators of Abu Dhabi’s airports on Sunday announced Dh582 retail revenues for the capital’s international airport last year, showing an upsurge of 15 per cent over 2009. According to Abu Dhabi Airports Company (ADAC), the operator of emirate’s five
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Top Regional Award For Takaful Company
(Gulf Daily News
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31/01/2011)
Solidarity General Takaful company has won a top regional award at a ceremony held in Dubai. It was named Bahrain Insurer of the Year and for the second time running was named the best Takaful Insurer of the Year at the MENA Insurance Awards Ceremony.
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Malaysia seeks to boost trade ties with GCC
(Arab News
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31/01/2011)
A framework agreement on economic, commercial, investment and technical cooperation between Malaysia and the Gulf Cooperation Council (GCC) was sealed in Abu Dhabi on Sunday in the presence of GCC Secretary-General Abdul Rahman bin Hamad Al-Attiyah and
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UAE, Malaysia are emerging from global crisis: Mansouri
(Khaleej Times
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31/01/2011)
In a new world order, the UAE and Malaysia are frontier countries that are emerging from global financial crisis, said UAE Minister of Economy Sultan bin Saeed Al Mansouri. Speaking at the ‘Invest Malaysia 2011’ conference in the capital on Sunday, the
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Mubadala Aerospace, NADI of Malaysia exchange MoU
(Al Watan
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31/01/2011)
Mubadala Aerospace and Malaysia's National Aerospace & Defence Industries (NADI) announced in a press release on Sunday that they have exchanged a recently signed Memorandum of Understanding (MoU), in the presence of the Prime Minister of Malaysia, The
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Gulf CDS rates take a hit on Egypt woes
(Business 24|7
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31/01/2011)
Credit default spreads (CDS) of debt issuers in the Gulf Cooperation Council took a hit over the weekend as political tensions in Egypt escalated and angry mobs took to the street in the country, violently protesting against rising unemployment and
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Adia seeks portfolio diversity in emerging markets
(Business 24|7
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31/01/2011)
The emerging markets department of the Abu Dhabi Investment Authority (Adia), the world’s largest sovereign wealth fund, favours assets that will fetch it high and stable earnings in the long term, a department official has said. Saeed Al Hajeri,
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Etihad presents awards to 14 employees
(Trade Arabia
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31/01/2011)
Etihad Airways, the national airline of the UAE, presented its Excellence Awards to 14 employees from across the business for their performance, during its recently held 2011 Worldwide Staff Conference. The two-day conference, attended by over 500 staff
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DEWA signs MoU with Emirates Environmental Group
(AME Info
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31/01/2011)
Within the framework of mutual collaboration and coordination with Society's Public Benefit Associations, Dubai Electricity and Water Authority (DEWA) has signed a Memorandum of Understanding (MOU) with Emirates environmental Group (EEG) for
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National Bonds distributes 3.78% profit rate for year ending 2010
(AME Info
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31/01/2011)
National Bonds Corporation PJSC, the investment company behind the first Shariaa compliant saving scheme of its kind globally and the regions biggest rewards program, announced today an annual profit rate of 3.78% on Mudaraba fund for 2010 to be
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Oman: Oil Production Grows by 6% and Oil Exports by 10%
(QNA
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30/01/2011)
The Sultanate of Oman's total oil production rose remarkably by 6.4% in 2010, to 315.6 million barrel in 2010, compared to 296.6 million barrel in 2009 according to statistics released by the National Economy Ministry. The average daily production of
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Revenues surge due to oil prices, surplus of KD 7 billion
(KUNA
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30/01/2011)
A National Bank of Kuwait (NBK) nine-month 2010-2011 fiscal year financial report revealed a surplus of seven billion Kuwaiti dinars, while revenues surged 17 percent mostly on the back of higher oil prices, with total spending growing by 42 percent
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Kuwait crude price up to $92.27 per barrel
(Al Watan
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30/01/2011)
Kuwait crude oil price went up to 92.27 US dollars per barrel in Thursday trading driven by US dollar plummeting and the outlook of the world economic recovery, Kuwait Petroleum Corporation (KPC) reported on Friday. The greenback retreated with regards
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Saudi pharmaceutical market value forecast to rise to SR14bn
(Arab News
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30/01/2011)
The Saudi pharmaceutical market is the largest in the Gulf Cooperation Council (GCC). The vast majority of the market is currently provided by imports, mainly comprised of patented and over-the- counter (OTC) drugs. Local production is mainly involved
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Gulf frontier markets robust despite Egypt
(Khaleej Times
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30/01/2011)
Investors should not lump Egypt and other Middle Eastern markets together in one group as strong fundamentals especially in the Gulf argue for a favourable investment climate, a top Qatar regulator said. Emerging stocks fell and debt insurance costs
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Saudi construction sector needs a boost
(Saudi Gazette
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30/01/2011)
Construction Products Holding Company (CPC) made a call for reinforcing the high-growth Saudi construction sector during its participation as Platinum Sponsor of the first Construction and Projects Forum held recently under the slogan "Partners in
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Saudi SMEs show most optimistic outlooks
(Saudi Gazette
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30/01/2011)
Small and medium-sized businesses in emerging markets continued to exhibit growing optimism over the past six months. Regions with the most optimistic outlooks included Saudi Arabia (+20 percent), India (+18 percent), Singapore (9 percent) and Argentina
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Qatar Airways ''Operating Flights to Egypt As Scheduled''
(QNA
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30/01/2011)
Qatar Airways is operating in-bound and out-bound flights to Egypt as scheduled, a Corporate Communications executive said Sunday. Speaking to Qatar News Agency (QNA) Qatar Airway''s Updesh Kapur said, "Qatar Airways is operating all flights in and out
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