DP World reports 10% increase in container volumes in 1st quarter 2012
(AME Info
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30/04/2012)
DP World Limited will hold its Annual General Meeting for the year ended 31 December 2011. DP World Chairman Sultan Ahmed Bin Sulayem will make the following statement regarding trading in the first quarter of 2012. Across our global portfolio of marine
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Qatar's London tower to open in July
(Trade Arabia
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30/04/2012)
'The Shard Tower' in London, the tallest building in Western Europe which is majority owned by Qatar, will be inaugurated on July 5, said top Qatar government officials. Announcing this on Monday, Sheikh Abdullah Bin Saoud Al Thani, the Qatar Central
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Jafza in talks to refinance $2bn sukuk
(Reuters
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30/04/2012)
Dubai's Jebel Ali Free Zone (Jafza) is in advanced talks with financial institutions over a financing package to meet its $2 billion-equivalent Islamic bond, or sukuk, maturity in November, the company said in a statement on Monday. The chairman of the
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Qatar Airways to defer A380 deliveries
(Reuters
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30/04/2012)
Qatar Airways will defer delivery of its A380 superjumbos until it gets more details about wing cracks on the Airbus aircraft, its chief executive said on Monday. European air safety regulators ordered checks in February for Airbus A380 wing cracks for
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Bahrain’s domestic credit up 15.9pc in March
(Trade Arabia
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30/04/2012)
Bahrain’s total domestic credit grew 15.9 per cent to BD6.586 billion ($17.45 billion) at end-March this year, compared to the same period last year, the kingdom's central bank said. Total outstanding loans at Bahrain's retail banks increased 0.5 per
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AAOIFI issues 7 standards for Islamic finance
(Reuters
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30/04/2012)
The Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) has introduced new guidelines for applying religious law to finance, as it prepares to launch a sweeping review of the industry. The seven new standards, which help
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KPC signs two oil contracts with India's Bharat Petroleum
(KUNA
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30/04/2012)
Kuwait Petroleum Corporation (KPC) hammered out Sunday two contracts with India's Bharat Petroleum Corporation to supply it with 68,000 oil barrels per day. In statements to Kuwait News Agency (KUNA), Managing Director of KPC International Market Sector
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Flydubai’s success reflected in UAE travel, tourism market
(Khaleej Times
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30/04/2012)
Dubai’s first low-cost carrier, flydubai, is playing a significant role in the UAE’s fast-growing travel and tourism sector as the airline recorded a significant increase in passenger numbers from CIS, Europe and Gulf countries in the last 14 months. The
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Egypt T-bill yields rise after dispute with Saudi
(Gulf Times
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30/04/2012)
Egyptian treasury bill yields rose at an auction yesterday and the central bank sold fewer bills than it offered after a diplomatic rupture with Saudi Arabia dampened appetite for government securities, traders said. The government had been counting on
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Abu Dhabi seeks US investment in industrial zones
(Khaleej Times
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30/04/2012)
Abu Dhabi’s top businessmen have invited US companies to invest in its booming industrial zones. Headed by Mohammed Thani Al Rumeithi, President of the Abu Dhabi Chamber of Commerce and Industry, the ADCCI delegation to the USA held a meeting with the
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GIB's net income up 23%
(Arab News
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30/04/2012)
Bahrain-headquartered Gulf International Bank (GIB) reported consolidated net income, after tax, of $31.8 million for the three months ended on March 31, 2012, 23 percent or $6 million up on the comparable prior year period. "We are pleased to report
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Jumeirah in deals to manage 50 hotels
(Bloomberg
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30/04/2012)
The Jumeirah Group has agreements to manage 50 hotels, short of its target for 60 agreements by 2012, its executive chairman said. The company, which operates luxury hotels and resorts owned by Dubai’s government, will manage a total of 35 to 40 hotels
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Moroccan firms seek Saudi investment
(Arab News
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30/04/2012)
A visiting Moroccan business delegation, representing 39 industrial and commercial companies, explored at the Riyadh Chamber of Commerce and Industry (RCCI) yesterday with Saudi businessmen the best means on how to exploit investment opportunities in
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Bahrain 'growth market'
(Gulf Daily News
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30/04/2012)
Bahrain and the Middle East are key growth markets for DHL Express. That is the view of DHL Global chief executive Ken Allen who was on a visit to the kingdom to meet the country managers of the Middle East and North Africa (Mena) markets to discuss the
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S. African investors to take part in development of mining industry
(Arab News
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30/04/2012)
The Kingdom and South Africa pledged yesterday to enhance their bilateral trade volume from SR20 billion to SR30 billion during the coming five years. This was announced at the conclusion of the Fourth Saudi Arabian African Joint Committee at the Royal
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BFX trading turnover crosses $1 billion mark
(Arab News
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30/04/2012)
The Bahrain Financial Exchange (BFX), the first multi-asset exchange in the Middle East and North Africa (MENA) region, has announced achieving a key milestone with the cumulative (single-side) trading turnover value crossing the $1 billion mark on April
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SEIB to participate in Project Qatar
(Trade Arabia
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29/04/2012)
SEIB Insurance and Reinsurance Company (SEIB) has announced its participation in the ninth edition of Project Qatar, a major engineering and construction solutions event. “Project Qatar 2012 is the ideal platform for us to directly communicate with
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Islamic finance rules set for major review
(Reuters
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29/04/2012)
Islamic finance may face its biggest shake-up in years as a top standard-setting body seeks to reform the way the industry does business, including the role of highly paid scholars in enforcing religious principles. Khaled Al Fakih, the new
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Mubadala healthcare signs MoU with Dubai Health Authority
(AME Info
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29/04/2012)
Mubadala Healthcare (a business unit of Mubadala Development Company PJSC) and Dubai Health Authority (DHA) have signed a Memorandum of Understanding (MoU) to discuss several key collaboration areas that will facilitate knowledge-sharing, partnership
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GIB net income up 23pc to $31.8m
(Trade Arabia
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29/04/2012)
Gulf International Bank (GIB) reported a consolidated net income after tax of $31.8 million for the three months ended March 31, 2012, a $6.0 million or 23 per cent rise in the comparable prior year period. Year-on-year increases were recorded in all
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Abu Dhabi rents set for further fall says report
(Trade Arabia
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29/04/2012)
The residential rents in Abu Dhabi registered a 7 per cent drop in the first quarter and were set to fall further amid significant jump in supply across all sectors at a time of weak demand and tight economic conditions, said a report. The real estate
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Warba Bank funds first residential project in the United States
(AME Info
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29/04/2012)
Warba Bank (WB) announced the conclusion of a financing deal to purchase a property and develop it into a multi-family residential complex by Criterion Group LLC based in New York. WB has financed the purchase of the land, as well as the development of
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Saudi King to launch $21bn university projects
(Trade Arabia
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29/04/2012)
Saudi Arabia's King Abdullah will lay the foundation for the second phase of the university cities' project worth SR81.5 billion ($21.73 billion) tomorrow. He will also inaugurates the first phase of the project in a number of regions and governorates, a
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ADAC brings world's air transport networking event to Abu Dhabi
(AME Info
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29/04/2012)
Abu Dhabi Airports Company (ADAC) announced the official sales launch of the 18th World Route Development Forum, which will take place from 29th September to 2nd October at Abu Dhabi National Exhibition Centre (ADNEC) this year. The event is hosted by
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Sulphur bentonite fertilizer project to launch in May
(Oman Daily Observer
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29/04/2012)
Sohar Sulphur Fertilizers LLC is set to launch its sulphur bentonite fertilizer plant at Sohar Industrial Estate next month, according to a senior official of Takamul Investment, which has a majority stake in the company. Yaarub al Yaarubi, Assistant
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