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UAE credit growth the main cause for concern (The National - 26/04/2012)

Reasons to be cheerful about the economic outlook appeared numerous at the start of this year. Prospects for global growth were stronger and at the same time fears about a full meltdown in the euro zone were receding. Rising oil prices and a rebound in

Kuwait 2011 current account surplus jumps 78% (Agencies - 26/04/2012)

Kuwait's current account surplus surged 78 percent in 2011 mainly thanks to a jump in exports, the Gulf Arab country's central bank said on Wednesday. The current account of one of the world's top oil exporters booked a surplus of 19.53 billion Kuwaiti

KSA top importer of Brazil products in Arab world (Saudi Gazette - 26/04/2012)

Commercial relations between Arabs and Brazilians further strengthened, latest data from the Arab­-Brazilian Chamber of Commerce said Wednesday. Brazilian exports have surpassed $3 billion while imports have increased by 18 percent in relation to

DAE income surges 110% (Khaleej Times - 26/04/2012)

Dubai Aerospace Enterprise, or DAE, on Tuesday said it recorded net income, excluding non-recurring items, of $81.3 million, or Dh298.7 million, for full year 2011, registering an increase of 110 per cent over the net income, excluding non-recurring

On Road To Recovery (Gulf Daily News - 26/04/2012)

The gulfBid and gulfInteriors exhibitions have been voted a massive success by exhibitors. The exhibitions are being held at the Bahrain International Exhibition and Conference Centre. And the companies at the two events, organised by Hilal Conferences

Deal signed to document Kingdom's oil history (Arab News - 26/04/2012)

Saudi Aramco and King Abdul Aziz Foundation signed an agreement in Riyadh yesterday in the presence of Defense Minister Prince Salman, who is the foundation’s chairman, to document the history of the Kingdom’s oil industry and support the historical

Key procedures reviewed (Gulf Daily News - 26/04/2012)

Industry and Commerce Minister Dr Hassan Fakhro yesterday chaired the 16th joint committee meeting to facilitate procedures and transactions in the industrial and commercial sectors. The minister praised investors, traders, accountants and lawyers whose

UAE best businesses honoured (Khaleej Times - 26/04/2012)

Dubai Chamber of Commerce and Industry on Wednesday honoured 14 UAE-based companies with Mohammed bin Rashid Al Maktoum Business Award in recognition of their exceptional performance. The 6th Cycle Award ceremony was attended by Shaikh Hamdan bin

Bahrain eyes sovereign bond sale, not imminent (Gulf Times - 26/04/2012)

Bahrain is testing whether it could draw investors into a potential sovereign bond sale, although the issuance is unlikely to be imminent, government and banking sources said yesterday. A year of clashes between protesters and security forces has been

Cityscape Abu Dhabi ends on a positive note (Khaleej Times - 26/04/2012)

The sixth edition of Cityscape Abu Dhabi concluded on Wednesday, bringing an end to four successful days of the latest real estate development updates and announcements, both locally and internationally. Several major UAE based developers showcased their

Lubna opens investment forum in Germany (Khaleej Times - 26/04/2012)

Shaikha Lubna Al Qasimi, UAE Minister of Foreign Trade, inaugurated the UAE Investment Forum as part of the UAE’s dedicated pavilion at Hannover Messe, the international industrial and technology fair being held in Hanover, Germany. The UAE Investment

Tamkeen in accord with firm (Gulf Daily News - 26/04/2012)

Tamkeen has signed an agreement with Azadea Group, a leading international fashion and lifestyle company, to train and employ 60 Bahrainis in the company. The agreement is part of Tamkeen's Employment Support Programme, which helps private sector

CSR helps local companies to ‘compete and innovate’ (Khaleej Times - 26/04/2012)

Shaikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, on Wednesday stressed the importance of corporate social responsibility that has a huge positive impact on local companies and their ability to compete and innovate

80-member Saudi trade mission set for US oil talks (Arab News - 26/04/2012)

An 80-member Saudi trade mission, sponsored by the US Commercial Service at the US Embassy, Riyadh, has left for the US for a four-day visit aimed at building stronger bilateral commercial ties. Ambassador James Smith is leading the Saudi delegation. The

Dubai sukuk sale raises $1.25b (Khaleej Times - 26/04/2012)

The Dubai government launched a $1.25 billion two-tranche Islamic bond, or sukuk, on Wednesday. The five and 10-year benchmark sukuk, backed by real estate assets, is Dubai’s first Islamic bond since 2009. According to issue arrangers, the sukuk was sold

61% profit boost for Dubai Holding's main unit (Reuters - 26/04/2012)

Dubai Holding’s main unit reported a 61-percent rise in yearly profits, thanks to lower impairment charges and the disposal of non-core assets which helped offset a decline in revenues. Dubai Holding Commercial Operations Group (DHCOG) said it had 2011

Saudi Aramco and KACST ink deal for high-tech venture (Arab News - 26/04/2012)

A new joint venture between two major companies in technology and oil sectors has been established to set up a sophisticated center for conducting nondestructive tests in the oil sector. Following their agreement, a National Center for Nondestructive

Kuwait current account surplus jumps to $70bn (Reuters - 25/04/2012)

Kuwait's current account surplus surged 78 percent in 2011 mainly thanks to a jump in exports, the country's central bank said on Wednesday. The current account of one of the world's top oil exporters booked a surplus of 19.53 billion dinars ($70.3

Dubai's $1.25bn Islamic bond to price today (Reuters - 25/04/2012)

Dubai is planning to raise $1.25 billion from a two-tranche Islamic bond sale on Wednesday, with final price guidance for both tranches tighter than indicated initially. The price range for the five-year portion was set at between 4.90 and 4.95 per cent

Gulf One arranges $23.5 million Islamic debt refinancing deal (CPI Financial - 25/04/2012)

Gulf one has advised and arranged a $23.50 million Islamic debt refinancing transaction for the Gulf University for Science and Technology (GUST), the largest private sector university in Kuwait. The transaction was successfully closed in early 2012 with

Saudi to award new airline licences in Sept (Reuters - 25/04/2012)

Saudi Arabia will clear new carriers for takeoff in September, the kingdom's aviation authority said on Wednesday, granting airline licences for the right to operate both local and international flights. Khalid Al-Khaibary, the spokesman for General

Flydubai to spotlight growth and innovation at Arabian Travel Market (AME Info - 25/04/2012)

Flydubai, will make its debut at this year's Arabian Travel Market (ATM) and will showcase its expanding network and range of innovative services. The airline's two-storey stand has a multi-faceted interactive design giving visitors the opportunity to

Key skills boost for 350 Mena businesswomen (Gulf Daily News - 25/04/2012)

More than 350 businesswomen from across the Middle East and North Africa attended a major businesswomen's network forum in Dubai. The Mena Business-women's Network (Mena BWN) Forum concluded with a roundtable discussion between some of the region's most

Abu Dhabi’s Wealth Fund Said to Hire Axa Private Equity’s Florin (Bloomberg - 25/04/2012)

Christophe Florin, chief operating officer of Axa Private Equity, has left to join the Abu Dhabi Investment Authority, according to three people with knowledge of the matter, as it seeks to expand its staff for acquisitions. Florin, who was also a member

Broadband services 'improving in Bahrain' (Gulf Daily News - 25/04/2012)

The quality of fixed 2Mbps broadband residential services offered by licensed Internet Service Providers (ISPs) in Bahrain has improved. This was revealed in the Telecommunications Regulatory Authority's (TRA) broadband analysis for the first quarter of

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