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KSA, Bulgaria mull agriculture investment (Saudi Gazette - 25/04/2012)

The opening of the Saudi market for the Bulgarian business and investments in Bulgaria were among the major topics discussed at Tuesday’s meeting between Saudi Agriculture Minister Fahad Balghunaim and his Bulgarian counterpart Miroslav Naydenov, FOCUS

Four Seasons Hotel Riyadh bags ‘Best 5 Star Hotel Award’ in the KSA (Saudi Gazette - 25/04/2012)

FOUR Seasons Hotel Riyadh was awarded Best Five Star Hotel in Saudi Arabia during the recent Saudi Excellence in Tourism Awards 2012. The hotels’ Elements Restaurant received highly commended recognition as the Best Casual Dining Restaurant in Saudi

Brisk trade at top exhibition (Gulf Daily News - 25/04/2012)

The gulfInteriors 2012 exhibition, which opened yesterday, was by far the largest edition of the event to date and was voted a success on the first day by exhibitors. Business was brisk on the first day with very solid visitor numbers. IDdesign, which

Bahrain Is Back In Business (Gulf Daily News - 25/04/2012)

Things are looking up in the construction industry, according to leading players in the sector who were claiming Bahrain was very much back in business after the disruption a year ago. That was the view being expressed by exhibitors at the region's

Dubai plans $1bn sukuk as economy accelerates (The National - 25/04/2012)

Dubai is returning to the bond markets for the first time in almost a year with a planned US$1 billion (Dh3.67bn) debt sale. The emirate has hired four banks to handle the sale of the Islamic bonds, known as sukuk, as it emerges from a financial crisis

GCC asset management industry maturing: Study (Saudi Gazette - 25/04/2012)

Despite its youth, and especially in the aftermath of the financial crisis, GCC asset management industry has shown signs of maturity and consolidation, a study conducted by Markab Advisory and sponsored by Qatar Financial Centre Authority said Tuesday.

GIB boost as Moody's reaffirms key ratings (Gulf Daily News - 25/04/2012)

The international credit rating agency Moody's Investors Service has reaffirmed Gulf International Bank's (GIB) long-term and short-term foreign currency deposit ratings of A3 and P-2 respectively. Moody's said in its report that GIB's solid capital

Company sees construction sector boom (Gulf Daily News - 25/04/2012)

MAN Truck & Bus Middle East says it plans to concentrate on the promising Bahraini construction sector through its national partner Ahmed Mansoor Al A'ali. The Bahrain-based distributor, which is rebranding this division of its extensive operations as

Saudi fears build over Europe economy after IMF warning (Gulf Times - 25/04/2012)

Saudi Arabia’s oil minister and business leaders are voicing renewed worries over Europe’s economic troubles, although Gulf economists say the kingdom’s cash reserves would help the world’s largest oil-producer ride out any temporary economic downturn in

KSA businesses stable on strong, resilient economy (Saudi Gazette - 25/04/2012)

The Saudi business sector remains "resilient" and would continue to enjoy "stability" in the second quarter of this year, the National Commercial Bank (NCB) said Tuesday at the launch of its Business Optimism Index for Q2 2012, in association with Dun

Qatar's LNG shipper on a slide despite higher rates (The National - 25/04/2012)

Qatar Gas Transport, known as Nakilat, has left analysts scratching their heads after the transporter of liquefied natural gas (LNG) posted two consecutive quarters of declines despite an improvement in rates for gas tankers. Nakilat's first-quarter

KSA’s net foreign assets hit almost $600b in 2011 (Saudi Gazette - 25/04/2012)

Saudi Arabia’s combined foreign assets grew rapidly in recent years to stand at $707 billion at the end of 2010, Jadwa Investment said Tuesday. With Saudi entities and individuals owing $213 billion to foreigners, total net foreign assets stood at $494

Kuwaiti oil price continues decline, drops to $114.32 (Agencies - 25/04/2012)

Price of Kuwaiti crude oil dropped 61 US cents to 114.32 US dollars per barrel on Monday compared to USD 114.93 pb on Friday, Kuwait Petroleum Corporation (KPC) said on Tuesday. The fall of the Kuwaiti crude price was attributed to forecast rise of

Kingdom promoting inventors’ rights (Arab News - 25/04/2012)

The Saudi Forum on Intellectual Property kicked off on Monday at the headquarters of King Abdul Aziz for Science and Technology (KACST). The KACST hosted the event in collaboration with King Saud University and King Abdul Aziz and his Companions

Hotel revenues up 1% to Dh1.2b in Q1 (Khaleej Times - 25/04/2012)

Abu Dhabi has seen double-digit growth in both hotel guests and guest nights in the first quarter of this year compared to same quarter last year. Overall hotel revenues rose one per cent to Dh1.2 billion ($362 million), with the first quarter’s average

Aramco, Tihama sign power expansion deal (Reuters - 25/04/2012)

Capacity at three power plants will be expanded under an agreement signed on Monday between Saudi Aramco and cogeneration supplier Tihama Power Generation Co, a joint venture between International Power and Saudi Oger. Aramco generates power both through

Emirates says no interest in Indian carriers (Reuters - 25/04/2012)

Dubai’s Emirates airline yesterday dismissed talk of a possible stake buy in India’s troubled aviation sector. “We are not interested in getting involved in the Indian aviation sector,” Emirates President Tim Clark said, speaking to Reuters on the

Tamouh completes handover of Marina Square units (Khaleej Times - 25/04/2012)

Tamouh, the master developer of Reem Island headquartered in Abu Dhabi, has announced the completion of handover of more than 3,000 residential units at the Marina Square development. Covering 26.7 hectares, Marina Square features 14 buildings — 13

Dubai 2011 budget deficit falls to $1bn, spending up (Reuters - 25/04/2012)

Dubai’s budget deficit narrowed sharply to AED3.7 billion ($1 billion) last year, helped by higher oil revenues and lower spending on development projects, a sovereign bond prospectus produced by the emirate shows. The shortfall was equivalent to 1.2

Global merchandise trade: Kingdom in key position (Arab News - 25/04/2012)

Saudi Arabia ranked 10 globally in merchandise trade at the value of $365 billion in 2011 and captured 2.5 percent of total world market compared to 2010 figures, according to the World Trade Organization (WTO) data. The UAE came in the 2nd and 14th

Poland pushes for Saudi investment in key projects (Arab News - 25/04/2012)

Polish Prime Minister Donald Tusk yesterday emphasized his country’s desire to expand cooperation with Saudi Arabia in the areas of oil, defense, food industry, medical services, health tourism and financial services. “We also want to increase trade

Dubai plans $1b sukuk (Khaleej Times - 25/04/2012)

Dubai is all set to launch a dual-tranche Islamic bond, or sukuk, to raise at least $1 billion, the issue arrangers said on Tuesday. The five- and 10-year benchmark sukuk, backed by real estate assets, is Dubai’s first Islamic bond since 2009. Initial

All trade sectors in Kingdom display steady expectations (Arab News - 25/04/2012)

It is not possible to depend fully on the banking sector to finance projects, says National Commercial Bank’s Senior Vice President and Group Chief Economist Said Al-Shaikh. “As banks are holding assets of customers, they can contribute only part of the

Qatar Airways wins Skytrax 2012 World Airport Awards (AME Info - 24/04/2012)

Qatar Airways has been honoured with two major accolades at the annual Skytrax 2012 World Airport Awards held in Vienna. For the second year running, Qatar Airways' Premium Terminal at Doha International Airport (DIA) has been named World's Best Premium

ADF launches new mortgage promotion (Trade Arabia - 24/04/2012)

Abu Dhabi Finance (ADF), a leading home finance provider, has launched a special promotion for the Cityscape Abu Dhabi exhibition, offering a fixed rate of 4.99 per cent during the first year of the mortgage. The mortgage will also offer two premium

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