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New ICC Investment Guidelines define investor and government roles (Press Release - 22/04/2012)

The International Chamber of Commerce (ICC) has re-issued its Guidelines for International Investment to adapt to new challenges of the international investment environment and to further promote investment as a driver of economic growth. These revised

Kuwaiti oil price continues downward trend, drops to $114.93 (KUNA - 22/04/2012)

Price of Kuwaiti crude oil slipped down by 0.02 US dollars to $114.93 per barrel on Friday, compared to $114.95 pb on Thursday, Kuwait Petroleum Corporation (KPC) said on Saturday. The slight decrease in Kuwaiti oil price comes at a time when Brent crude

Abu Dhabi airport traffic leaps 21 per cent (The National - 22/04/2012)

Passenger traffic through Abu Dhabi International Airport rose more than 21 per cent in the first quarter of this year over the same period last year. More than 3.4 million passengers passed through the airport during the first three months, with more

Emerging markets promising for consumer products in ’12 (Saudi Gazette - 22/04/2012)

The 250 largest consumer products companies grew 8.4 percent, nearly a 10 percent turnaround from the prior year’s 1.2 percent decline, according to Deloitte’s report "Global powers of the consumer products industry." The Deloitte report said consumer

Turkey to sign LNG deal with Qatargas (Gulf Times - 22/04/2012)

Turkey expects to sign an agreement for 2.5 to 3bn cubic metres of liquefied natural gas (LNG) from Qatar, though no agreement was made on price, Turkey’s energy minister said yesterday. “We would like to make two agreements with Qatar: one short-term

PlasChem Parks to be constructed in Jubail & Yanbu II (Arab News - 22/04/2012)

The Royal Commission for Jubail and Yanbu is planning to construct two PlasChem Parks in Jubail and Yanbu Industrial Cities II to provide numerous industrial services such as products packaging to all new refineries, petrochemical, and downstream plants

ICC revises guidelines for global investment (Gulf Daily News - 22/04/2012)

The International Chamber of Commerce (ICC) has reissued its guidelines for international investment to adapt to new challenges of the investment environment and to further promote investment as a driver of economic growth. These revised guidelines -

‘GCC growth momentum to lure foreign fund inflows’ (Gulf Times - 22/04/2012)

The GCC nominal GDP is expected to grow by 4% in 2012, driven mainly by Qatar, Saudi Arabia and UAE, Doha Bank Group CEO R Seetharaman has said. Qatar’s aggregate GDP growth in 2012-2016 is expected to average 6.9% with hydrocarbon GDP growth accounting

Investment push (Gulf Daily News - 22/04/2012)

Abu Dhabi government-owned General Holding Corporation (GHC) plans to invest 5.8 billion dirhams ($1.58bn) in the short-term in three industries to boost manufacturing as the emirate tries to diversify its economy, its chairman said yesterday. The plans

FDIs 'to generate Gulf business opportunities' (Gulf Daily News - 22/04/2012)

Foreign direct investments (FDIs) in the GCC will continue to generate business opportunities despite current sluggishness, said a report by Global Investment House. The UAE has always been amongst the top recipients of FDI in the region and amongst the

Saudi mutual funds capture 66% of total GCC asset industry (Arab News - 22/04/2012)

Saudi Arabian mutual funds account for 66 percent of the total GCC asset management industry ($17.5 billion), followed by Kuwaiti funds with 16 percent share and GCC/MENA mandated funds with 14 percent share, according to a report by Kuwait Financial

Stage set for major trade expos (Gulf Daily News - 22/04/2012)

A vast and diverse range of building, construction and interiors products and services will dazzle the crowds at the high-profile twin trade exhibitions in Bahrain this week. The 2012 editions of gulfBID and gulfINTERIORS are expected to attract

Islamic banking grows 10 to 15% annually: IF chairman (Arab News - 22/04/2012)

Islamic banking and finance, with a total asset of $1.4 trillion and more than 1,000 institutions operating in many countries worldwide is all set for a big take off, says Professor Khurshid Ahmad, chairman of the Islamic Foundation UK and the Institute

Global recovery is ‘fragile’ (Khaleej Times - 22/04/2012)

The UAE has welcomed the slight recovery in global economy and the reduced threat of a sharp global slowdown, but warned that the recovery is ‘very fragile’ that could easily be reversed. “There should, therefore, be no letup in efforts to restore

Jeddah Port sets new benchmark with Red Sea Gateway Terminal (Arab News - 22/04/2012)

On behalf of Custodian of the Two Holy Mosques King Abdullah, Transport Minister Jabara Al-Seraisry yesterday launched the Red Sea Gateway Terminal (RSGT), the newest flagship box terminal at Jeddah Islamic Port. "Red Sea Gateway is first of its kind in

Abu Dhabi General Holding to Spend $1.6 Billion Through 2015 (Bloomberg - 21/04/2012)

General Holding Corp. PJSC, the Abu Dhabi government-owned holding company, plans to invest 5.8 billion dirhams ($1.6 billion) in the next three to four years as it helps expand the sheikhdom’s industrial sector. The company plans to spend 3 billion

Abu Dhabi passenger growth up 21pc (Reuters - 21/04/2012)

Abu Dhabi International Airport said on Saturday passenger traffic grew 21 per cent in the first quarter of 2012 compared with the same period a year ago, as the emirate pushes ahead with its expansion in tourism and industry. The airport saw 3.4 million

CBO issues RO50m worth CDs (ONA - 21/04/2012)

Certificates of deposit (CDS issue no. 764) tender was held at the Central Bank of Oman (CBO) this week. The total amount allotted was RO50 million. A bulletin issued by the CBO stated that the average interest rate of these certificates was 0.08 per

Qatar fund picks stake in Tiffany (Khaleej Times - 21/04/2012)

Qatar’s sovereign wealth fund has obtained a 5.2 per cent stake in Tiffany & Co. The New York-based luxury retailer said in a regulatory filing earlier this year that Qatar Holding bought nearly 6.6 million shares, worth about $437 million at current

Qatar boosts stake in Xstrata to 6.3% ahead of Glencore merger deal (Gulf Times - 21/04/2012)

Qatar’s sovereign wealth fund has increased its stake in Xstrata to nearly 6.3% from 5% just 10 days ago and is now the second-largest holder in the miner ahead of its proposed $48.4bn merger of equals with Glencore International. The QIA’s latest build

UAE groups place firm orders at Sri Lanka Expo (Khaleej Times - 21/04/2012)

Sri Lanka Export Development Board (EDB), the apex government organisation for promotion and development of exports from Sri Lanka, has been entrusted to formulate strategies to achieve the export target of $15 billion by 2015, The EDB, in consultation

Saudi women expanding wealth management role (Arab News - 21/04/2012)

A prestigious forum is being held in Jeddah today to help women in the Kingdom to improve their understanding of real estate investments, focusing particularly on the British market. It will take place at Dar Al-Hekma College, a private, non-profit

BMW and MINI sales in Oman on the rise in Q1 (Oman Daily Observer - 21/04/2012)

Al Jenaibi International Automobiles has reported a 9 per cent increase in BMW and MINI car sales in the first three months of 2012 compared to the same period in 2011. The official importer of BMW Group vehicles in Oman demonstrated its intention to

Salalah to get new Independent Power and Water Project (Oman Daily Observer - 21/04/2012)

Plans for a new Independent Water and Power Project (IWPP) in Dhofar Governorate have now been firmed up, with the state-owned Oman Power and Water Procurement Company (OPWP) launching a competitive process for the selection of consultants as a first

Gulf Capital eyes $500m from GMS sale (Reuters - 21/04/2012)

Abu Dhabi private equity firm Gulf Capital expects to raise more than $500 million from the sale of its 79 per cent stake in Gulf Marine Services, or GMS before the end of June, the company’s chief executive told Reuters on Wednesday. Gulf Capital, which

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