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Bahrain residential market 'picks up'
(Trade Arabia - 31/01/2013)

The activity in the residential market across Bahrain picked up during the fourth quarter with the apartment and villa rental rates registering solid growth, while secondary market sales continue to show modest gains, said a report. Leading property

UAE logistics market ‘worth $9.4 billion’
(Trade Arabia - 31/01/2013)

UAE is projected to generate logistics revenues in excess of $9.4 billion by 2014, said a top official of Barloworld Logistics, a leading provider of logistics and supply chain management solutions. UAE remains central to Barloworld’s growth plans in

Etihad Airways takes off with new daily flights
(AME Info - 31/01/2013)

Etihad Airways, the national airline of the United Arab Emirates, this week commences its new schedule of daily flights between Abu Dhabi and Brisbane via Singapore. To mark the occasion Etihad Airways will operate 'Blue Moon Rising' - its Airbus

Abu Dhabi Duty Free revenues up 24%
(WAM - 31/01/2013)

Abu Dhabi Airports Company (Adac), the operator of Abu Dhabi's five airports, revealed today that Abu Dhabi Duty Free retail revenue reached Dh809.5 million in 2012, an increase of 24 per cent over 2011, setting a new record for the company. The

Delta Partners obtains DFSA licences
(CPI Financial - 31/01/2013)

Delta Partners, a TMT (telecoms, media, technology) management consulting and investment specialist in high-growth markets, has announced that the Dubai Financial Services Authority (DFSA) has granted it two licences. The first licence, a 'Category 3'

UAE contractors expected to raise prices for new building work
(The National - 31/01/2013)

Property developers in the UAE are being urged to take advantage of a window of opportunity in the cost of building materials as recession-hit contractors prepare to increase prices. According to the cost consultant EC Harris, building contractors are

Qantas network opens for Emirates passengers
(Khaleej Times - 31/01/2013)

Emirates’ customers can now begin enjoying the benefits of what the Emirates and Qantas partnership has to offer, following the opening up of bookings to a number of Qantas domestic destinations, with travel from March 31. The partnership gained interim

Qantas network opens for Emirates passengers
(Khaleej Times - 31/01/2013)

Emirates’ customers can now begin enjoying the benefits of what the Emirates and Qantas partnership has to offer, following the opening up of bookings to a number of Qantas domestic destinations, with travel from March 31. The partnership gained interim

Dubai property prices surge 30% on sound fundamentals
(Khaleej Times - 31/01/2013)

Property prices in Dubai’s prime locations jumped by up to 30 per cent last year on the Emirate’s sound economic fundamentals, according to a latest report by Hamptons Mena. The driving force of demand was the overall infrastructure supporting the

Cash-rich Gulf companies investing in petrochemicals in SE Asia
(The National - 31/01/2013)

Arabian Gulf investors are pouring billions of dollars into petrochemicals in South East Asia as they chase new consumers outside a flagging China. Thanks to bumper years of high oil prices that buoyed oil and petrochemical revenues, companies from Abu

Saudi Arabia among the cheapest for remittances
(Saudi Gazette - 31/01/2013)

Saudi Arabia is one of the world’s most economical places for remitting money to other countries, World Bank data showed. The global average remittance costs are 8.96 percent, the report noted. According to Remittance Prices Worldwide data, the global

Dubai hotels post highest profits in Mena for third consecutive year
(Khaleej Times - 31/01/2013)

Hotels in Dubai recorded the highest profits in the region in 2012 for the third consecutive year, according to the latest HotStats survey. Monthly performance indicators for Dubai hotels shows that Gross Operating Profits per Available Room (GOPPAR)

Adac posts 24% jump in retail revenue
(WAM - 31/01/2013)

Abu Dhabi Airports Company, or Adac, the operator of Abu Dhabi’s five airports, revealed on Wednesday that Abu Dhabi Duty Free retail revenue reached Dh809.5 million in 2012, an increase of 24 per cent over 2011, setting a new record for the company. The

UAE, Canadian economic ties discussed
(Khaleej Times - 31/01/2013)

Ways to enhance and expand economic cooperation between the UAE and Canada in sectors such as industry, technology, knowledge economy, renewable and alternative energy were discussed by the UAE Minister of Economy Sultan bin Saeed Al Mansouri and

UAE, Kosovo to expand trade, investment
(Khaleej Times - 31/01/2013)

The UAE is interested in expanding its trade and economic cooperation with Kosovo and exploring potential investment opportunities for the benefit of business communities in both countries, Shaikha Lubna Al Qasimi, UAE Minister of Foreign Trade, said on

MOH and UK to enhance cooperation
(Arab News - 31/01/2013)

The Kingdom’s Ministry of Health and its counterpart in the United Kingdom have initiated plans to enhance cooperation in the areas of health, human resources development and training of health officials. During the second meeting of the Saudi-UK Joint

SR 1.15 bn set aside for Madinah roadworks
(Arab News - 31/01/2013)

A sum of SR 1.15 billion was approved for road and transport projects in Madinah province in the current financial year, the director general of roads and transport of Madinah province announced. Key projects to be implemented include the 30-km

Only LLC JVs without Emirati sponsorship
(Khaleej Times - 31/01/2013)

Giving the go-ahead to GCC investors to set up joint ventures in Dubai with a foreign partner without Emirati sponsorship is only confined to limited liability companies (LLCs), provided that the share of the foreign partner should not exceed 49 per

Dubai property prices surge 30% on sound fundamentals
(Khaleej Times - 31/01/2013)

Property prices in Dubai’s prime locations jumped by up to 30 per cent last year on the Emirate’s sound economic fundamentals, according to a latest report by Hamptons Mena. The driving force of demand was the overall infrastructure supporting the

UAE bank backtracks on risk-limiting rules
(Reuters - 31/01/2013)

Controversy over rules to limit banking risk in the UAE shows how hard it can be to regulate financial systems when banks and key companies are closely tied to the state. Three times over the past year, the UAE central bank has imposed regulations on

Dubai Bourse all set to kick off wave of Sukuk activity
(IslamOnline - 31/01/2013)

Dubai is striving hard to become the global centre of Islamic Finance and taking bold steps by introducing initiatives in the industry to give it a tremendous boost. In latest of the initiatives, Bourse Dubai is all set to kick off a new wave of Sukuk

Saudi industrial push to be fuelled by sukuk
(The National - 31/01/2013)

Saudi Arabia's massive industrialisation drive will increasingly rely on Islamic financing, said the treasurer of the country's national oil company, as international banks are constrained from investing in projects in the region. Saudi Aramco - the

Oman rules may spur reform of Islamic finance scholars
(Reuters - 31/01/2013)

Oman's new Islamic banking rules could encourage the development of a larger pool of sharia scholars and ultimately help to raise operating standards for them around the world, according to bankers and scholars. Last month, the sultanate's central bank

Tharawat Sukuk Fund posts 9.44 per cent return for 2012
(Press Release - 30/01/2013)

In a press release published today, Tharawat Investment House (Tharawat), an Islamic investment institution based in the Kingdom of Bahrain, announced 5.06% profit returns of Tharawat Sukuk Fund for the second half of 2012, achieving a total return of

Abu Dhabi International Airport records Dhs809.5m retail revenue
(AME Info - 30/01/2013)

Abu Dhabi Airports Company (ADAC), the operator of Abu Dhabi's five airports, revealed that Abu Dhabi Duty Free retail revenue reached Dhs809.5m in 2012, an increase of 24% over 2011, setting a new record for the company. The announcement was made today

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