Saudi SMEs most confident globally
(Arab News
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24/01/2011)
Saudi Arabia’s small and medium enterprises (SMEs) are the most confident about the growth prospects of the economy. Major findings of a survey conducted by HSBC, SABB’s global partner involving more than 6,389 enterprises in 21 key markets worldwide
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Planning for future energy needs
(Arab News
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24/01/2011)
A top official laid out on Sunday the Kingdom’s evolving energy strategy, which surprisingly is shifting domestic consumption toward alternative energy sources. Hashim Yamani, president of King Abdullah City for Atomic and Renewable Energy, explained
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Qatar Airways still plans to receive 787 Dreamliners’
(Gulf Times
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24/01/2011)
‘Qatar Airways said yesterday it has no plans to cancel its hefty order book for the troubled 787 Dreamliner, just days after manufacturer Boeing announced there would be further delays to the plane’s delivery schedule. “We will receive the 787s as
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Qatar inflation edges higher on costlier food, transport
(Gulf Times
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24/01/2011)
Living costs in Qatar rose 0.4% year-on-year (y-o-y) in December due to costlier food, transport and home appliances, according to the Qatar Statistical Authority (QSA). Month-on-month, inflation in Qatar, which recently offered QR50bn bonds and whose
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Oil prices will stabilise in 2011 says Al-Naimi
(Reuters
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24/01/2011)
Global oil prices are expected to continue to stabilise in 2011, while global oil demand is expected to rise between 1.5 million and 1.8 million barrels per day this year, Saudi Arabia's oil minister said on Monday. Oil Minister Ali Al-Naimi, Opec's most
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Tasweeq inks LPG deal with Thailand firm
(The Peninsula
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24/01/2011)
The Qatar International Petroleum Marketing Company Ltd. (Tasweeq) has inked a deal with Petroleum Authority of Thailand (PTT), to supply a significant quantity of Liquefied Petroleum Gas (LPG). The contract was signed at Tasweeq Headquarters yesterday
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OPEC May Raise Oil Supply to Meet Expected Higher Demand,al-Naimi Says
(Bloomberg
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24/01/2011)
OPEC members may boost oil supplies this year as demand for crude rises amid a recovery in economic growth rates to levels last seen before the global financial crisis, Saudi Arabia’s Oil Minister Ali al-Naimi said. Worldwide oil demand may increase as
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Saudi worried about inflation, peg to stay
(Reuters
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24/01/2011)
Saudi Arabia is worried that a global rise in food prices may drive up inflation but remains committed to its dollar currency peg, the Opec member's central bank governor said on Monday. Inflation in the world's top oil exporter, the largest Arab
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UAE to host global investment meet
(Khaleej Times
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24/01/2011)
The UAE plans to host a global investment meeting in the country ?that will focus on foreign direct investment (FDI) and international trade cooperation. Within the framework of its ongoing strategy to expand its ties with international organisations,
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UAE railway project to tender in March
(Khaleej Times
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24/01/2011)
Union Railways, the master developer and operator of the UAE’s national railway, said that the construction work on the first phase of 270km Shah-Habshan-Ruwais section is planned to commence in mid-2011. At this stage, Union Railway is pre-qualifying
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Abu Dhabi Airport posts 12.2% passenger growth
(Khaleej Times
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24/01/2011)
The passenger traffic at Abu Dhabi International Airport grew 12.2 per cent year-on-year in 2010, with nearly 11 million passengers passing through the airport. Abu Dhabi Airports Company (ADAC) on Sunday said “the positive passenger development during
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Abu Dhabi’s Etihad eyeing Virgin Atlantic
(Reuters
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24/01/2011)
Abu Dhabi’s Etihad Airways has expressed ‘top level interest’ in Richard Branson’s British airline Virgin Atlantic, the Sunday Times newspaper reported. Virgin Atlantic has previously said it received enquiries about tie-ups with rival carriers after it
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Firm defends finances of port division
(Gulf Daily News
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24/01/2011)
DP World officials defended the Dubai port operator's finances yesterday, saying the company is under no pressure to raise cash even as a sister firm announced plans to seek new terms on its debt. Executives at the cargo handler said last month's move to
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Eleven million use Abu Dhabi airport in 2010
(WAM
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24/01/2011)
Abu Dhabi Airports Company said on Sunday that the number of passengers using the airport of the capital increased 12.2 per cent last year to nearly 11 million. The positive passenger development during the year 2010 is also reflected in the aircraft
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Surge in exports led non-oil trade growth of 11.5% in first 10 months
(Khaleej Times
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24/01/2011)
The non-oil foreign trade continued to maintain a steady growth of 11.5 per cent year-on-year in the first ten months of the year ending October 31, on the back of strong surge in exports. Preliminary statistical data of Federal Customs Authority (FCA)
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Arab fiscal balance tumbles in 2009
(Business 24|7
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24/01/2011)
A sharp decline in oil prices allied with higher spending depressed the 2009 combined Arab fiscal balance to a tiny fraction of its 2008 peak but the surplus is expected to have recovered in 2010, according to official data. From a record high of around
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11 million take off and land at Abu Dhabi's airport
(The National
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24/01/2011)
Passenger traffic at Abu Dhabi International Airport surged last year, with the airport handling nearly 11 million travellers, a 12 per cent jump from 2009. New airlines serving the capital, in addition to the growth of the local carrier Etihad Airways,
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‘Dubai real estate to remain under stress’
(Times of Oman
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24/01/2011)
The year 2010 ended with a modest improvement in investor activity from both corporate as well as individual entities in Dubai, albeit with a narrow focus on property types, says a MarketView. However, real property sales and lease rates continue to fall
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Danube eyes $1bn revenue by 2015
(Trade Arabia
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24/01/2011)
Danube Building Materials, a major player in construction, building materials and shop fitting sector, has set a target of attaining $1 billion revenue by 2015. Despite the global crisis, the company had registered a 25 per cent rise in revenues last
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Alba's success in meeting challenges highlighted at lecture
(AME Info
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23/01/2011)
Aluminium Bahrain B.S.C. (Alba)'s success in meeting challenges facing the industry through processes and programmes that boost savings, reduce costs, strengthen operational efficiency and enhance the company's competitive edge were highlighted during a
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Kuwaiti oil price down 20 cents to $91.49
(KUNA
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23/01/2011)
Kuwaiti oil prices lost 20 US cents in Friday's trading to settle at 91.49 US dollars per barrel (pb), compared to $91.69 pb the day before, Kuwait Petroleum Corporation (KPC) said on Saturday. The International Energy Agency (IEA) said earlier this
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Oman plans early warning system for banks
(Business 24|7
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23/01/2011)
Oman intends to upgrade supervision of its banks as part of plans to create an early warning system designed to handle any fresh crisis in its financials sector, the Gulf country’s monetary chief has said. The Central Bank of Oman (CBO) has already
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Kingdom's GDP set to grow 4.5% in 2011
(Arab News
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23/01/2011)
A world economy broadly on track to economic recovery leading to moderate expected growth in the Kingdom are among the economic predictions for Q1, 2011 in the Saudi Business Optimism Index (BOI) released on Saturday by the Jeddah-based National
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Kingdom best place for investment: Naif
(Arab News
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23/01/2011)
Second Deputy Premier and Minister of Interior Prince Naif opened the Fifth Global Competitiveness Forum at the Four Seasons Hotel Saturday amid a galaxy of high-ranking ministers, global leaders and executives. "Saudi Arabia has become key to the
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Arab banks’ assets surpass region’s GDP
(Business 24|7
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23/01/2011)
Arab banks have recorded a steady growth in their assets despite the 2008 global fiscal distress to largely surpass the region’s combined gross domestic product (GDP), according to banking data. At the end of 2010, the consolidated assets of the Arab
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