Main headlines
May 21, 2013
Dubai: Dubai Electricity and Water Authority’s conservation initiative saved Dh16 million in electricity and water, it was announced at the eighth Conservation Award for the educational sector.
Air Arabia said on Monday it has signed a $350 million financing deal from a syndicate of two GCC banks — Qatar National Bank (QNB Group) and Commercial Bank International (CBI).
May 20, 2013
Work on a Dh267.5 million roads project will begin on an 80 kilometre two-lane highway that links Abu Dhabi’s third largest city with the Western Region.
The Organization of the Petroleum Exporting Countries (Opec) will need to pump slightly more oil than it thought in 2013 and expects global consumption to be much higher in the rest of the year.
Bahrain's real gross domestic product (GDP) is estimated to have expanded 3.9 per cent last year from the 1.9pc growth seen in 2011.
Yields on Egyptian three- and nine-month treasury bills climbed on Sunday and the auction's size was reduced after a new central bank decree limited the amount of funds that banks can channel into money market funds to buy T-bills.
Dubai’s benchmark stock index rose to its highest closing level in almost four years while the Abu Dhabi market general index surged to its highest level since October 2008 on Sunday on the back of a rally in real estate and banking shares.
The Governing Board at the American University in Dubai (AUD) approved Dh30 million (some $8.2) million in scholarships in its 2013-2014 annual budget.
Shura Council decision to raise taxes on loan loss provisions at nation's banks is met by anger; banking officials are slated to meet with newly-appointed finance minister to discuss issue.
The World Bank has approved a $30 million soft loan aimed at supporting a government initiative to improve access to basic services in impoverished parts of the country.
May 19, 2013
Boeing has delivered a 777-300ER extended range plane to Saudi Arabian Airlines (Saudia), marking the latest milestone in its longstanding relationship with the airline and the kingdom.
Oman Air has committed RO2mn ($5,2 million) to staff training in 2013, having already invested more than RO3.3mn (some $8 million) over the previous two years.
Both the Dubai Financial Market and Abu Dhabi Securities Market are trading at a nearly four-year-high, reflecting a return of investor confidence.
Gold prices yesterday dropped to their lowest level for the second time in almost a month, sparking a shopping frenzy at gold shops across the Kingdom.
The Ministry of Regional Municipalities and Water Resources (MRMWR) has floated as many as 11 tenders for the design and construction of internal roads in South and North Sharqiya.
