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DP World posts record container volumes in 2011
(Trade Arabia - 31/01/2012)

DP World, a leading global marine terminal operator, has posted a record year for container handling, with over 54.7 million TEU (twenty-foot equivalent container units) handled in 2011, an increase of 10 per cent over 2010. Like for like volume growth

Gulf inflation to stay moderate this year’
(Gulf Times - 31/01/2012)

Inflation will continue to be moderate in the Gulf region in 2012, QNB Capital has said in a report. “While rents are expected to return to positive growth in most countries, this should be offset by an expected easing in food price inflation,” the

Saudi enterprises thriving on diverse high-tech support
(Arab News - 31/01/2012)

The government’s continuous support has made the Kingdom one of the most developed and advanced markets in the region for the telecommunications industry, according to industry experts. They made their observations at the Telecommunications & ICT

‘GCC banks need to spend more on risk management’
(Gulf Times - 31/01/2012)

The Gulf Cooperation Council (GCC) banks are well capitalised but they need to invest more in risk management to ensure long-term sustainable growth, according to Moody’s Analytics. Moody’s Analytics, a subsidiary of global credit rating agency Moody’s,

QCB chief warns of fallout from Europe’s debt crisis
(QNA - 31/01/2012)

The debt crisis crippling countries in the eurozone will have an indirect impact on the GCC financial sector, Qatar Central Bank Governor HE Sheikh Abdullah bin Saud al-Thani warned yesterday. Addressing a symposium organised by the Qatar Financial

SMEs issues probed at key panel talk
(Gulf Daily News - 31/01/2012)

Small and medium enterprises (SMEs) are playing a vital role in Bahrain's economic development, Industry and Commerce Minister Dr Hassan Fakhro said. He was chairing the 10th meeting of the co-ordinating committee to support SMEs. The committee was

Oman plans $210 million gas pipe for new town
(Reuters - 31/01/2012)

Oman plans to build a 230-kilometer long pipeline to carry gas to the new industrial city of Duqm on the coast of the Gulf Arab state, a project official said on Monday. "We are floating a tender for the bids of building the gas pipeline to Duqm," Yahya

Cement company established with KD 10 million capital
(KUNA - 31/01/2012)

Kuwait Gazette announced on Monday the establishment of International Cement Group company with a capital of 10 million Kuwaiti dinar. The company was incepted as a closed shareholding company with a capital of KD 10 million distributed over 100 million

Saudi 'ready to meet oil shortages'
(Gulf Daily News - 31/01/2012)

Saudi Arabia can meet any future world oil shortages thanks to massive investment, and its rising gas output will mean crude exports will not be affected by booming domestic energy demand, Oil Minister Ali Al Naimi said yesterday. "I would like to state

Qatar makes approach for Oger Telecom stake: sources
(Reuters - 31/01/2012)

Qatar, eager to boost its footprint in Turkey, has made a takeover approach to the majority owner of Oger Telecom, which owns a controlling stake in Turk Telecom, sources familiar with the matter said. Qatar has directly approached Saudi Oger – owned by

Oman economy shows signs of resilience
(Arab News - 31/01/2012)

GCC (Gulf Cooperation Council) region witnessed a significant turnaround in 2010 as capital markets and oil prices increased and were accompanied by strong domestic demand and prudent fiscal and monetary policies. Oman's economy, the fifth largest

Kuwait in $556m deal with Daewoo for 5 new tankers
(Reuters - 31/01/2012)

Kuwait Oil Tanker Co (KOTC) has signed a $556 million contract with South Korea's Daewoo Shipbuilding & Marine Engineering to build five new tankers, the state news agency KUNA reported. The four double-hull very large crude carriers (VLCC) will be able

Mazda introduces 2012 line-up in the UAE
(Khaleej Times - 31/01/2012)

Galadari Automobiles Co Limited, or GAL, sole distributors of Mazda vehicles in the UAE, announced the availability of a complete range of the latest 2012 models of all its cars across its network of showrooms in the UAE. Mazda has a stellar line-up of

GCC inflation rises but is moderate by global standards
(Arab News - 31/01/2012)

Consumer price inflation in the GCC (Gulf Cooperation Council) picked up to 3.3 percent in 2011, up from 2.8 percent in 2010, according to analysis from QNB Capital. Despite this small rise in inflation, price growth in the region is below the global

Bills are a success
(Gulf Daily News - 31/01/2012)

The Central Bank of Bahrain (CBB) yesterday announced that this week's BD35 million issues of government treasury bills has been oversubscribed by 229 per cent. The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of the Bahrain

Qatar’s trade volumes to grow 160% by 2025: HSBC
(Gulf Times - 31/01/2012)

Qatar trade volumes are expected to grow 160% by 2025, HSBC said as the bank highlighted its strategy to focus on the importance of trade relationships between emerging and developed markets. Qatar, the bank said, will remain important as a core trading

UAE-NZ ties growing
(Khaleej Times - 31/01/2012)

Trade between the UAE and New Zealand is expected to continue its significant growth, according to New Zealand Consul-General in Dubai Steve Jones. Trade figures show New Zealand exports to the GCC have grown from $695 million in 2009 to $1.2 billion in

Masdar budget approval hailed
(WAM - 31/01/2012)

Dr Sultan Ahmed Al Jaber, the CEO of Masdar and chairman of the Executive Committee of the Board of Trustees of the Masdar Institute of Science and Technology, commended Abu Dhabi’s Executive Council for approving the institute’s budget for 2012. He

Banks introduce IBAN
(Gulf Daily News - 31/01/2012)

All commercial banks in Bahrain today adopted International Bank Account Numbers (IBAN) on their cheque books which makes the kingdom the 55th country to join this system. The system, which combines a country code with a check digit code and the

DWC handles 90,000 tonnes of cargo in 2011
(Khaleej Times - 31/01/2012)

Dubai Airports on Monday announced traffic statistics for Dubai World Central, or DWC, that showed the airport handled 89,729 tonnes of air freight during its first full calendar year of operations. In 2011, DWC’s average monthly air cargo volumes

Mobile penetration rate in Bahrain hits 133pc
(Gulf Daily News - 31/01/2012)

There were about 1.7 million mobile subscribers in Bahrain at the end of 2011, representing a mobile penetration rate of 133 per cent, Bahrain's Telecommunications Regulatory Authority (TRA) said yesterday. Domestic mobile-originated traffic reached 3.7

SAMA reserve assets exceed SR2 trillion mark
(Arab News - 31/01/2012)

Crude production in Saudi Arabia remained elevated toward end of the last year along with record average global crude price for the year 2011. According to an estimate by OPEC, average daily crude production increased 12 percent in 2011 from the average

Kingdom capable of handling any future oil shortage: Al-Naimi
(Arab News - 31/01/2012)

Minister of Petroleum and Mineral Resources Ali Al-Naimi said on Monday that Saudi Arabia will continue to be a reliable, steady and dependable supplier of energy to the world. Giving a frank and forthright assessment of the oil industry while delivering

Rera approves Oceana service charge
(Trade Arabia - 30/01/2012)

Dubai’s Real Estate Regulatory Authority (Rera) has approved the 2012 service charge budget for Oceana residential and resort community on The Palm Jumeirah, according to leading property management group Asteco. The news comes as issues concerning the

Nasdaq Dubai joins Gulf Bond and Sukuk Association
(AME Info - 30/01/2012)

Nasdaq Dubai has become the first securities exchange to join the Gulf Bond and Sukuk Association (GBSA), in a move that will strengthen the development of the region's debt markets. Nasdaq Dubai is the region's largest exchange for Sukuk, with 15

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