May 22, 2013
Drake & Scull Construction (DSC) the General Contracting Arm of Drake & Scull International PJSC (DSI) has announced that it has been awarded a SAR 1.725 billion (some $460 million) contract by Lamar Investment and Real Estate Development Co. to complete the Lamar Towers project in Jeddah, Saudi Arabia.
The International Monetary Fund (IMF) is not concerned about Dubai’s ability to repay its estimated $48 billion of debt obligations, according to the director of its Middle East and Central Asia department.
May 21, 2013
Benchmark oil for June delivery gained 69 cents to close at $96.71 a barrel on the New York Mercantile Exchange.
INJAZ Saudi Arabia said the country needs a number of qualified executives and skilled manpower to drive the economy and make the best of the current economic boom in the Kingdom.
Inflation in Egypt is expected to climb to 10.9 percent this year, the highest level since 2010, the International Monetary Fund said on Tuesday, more than it expected in April.
A good part of the funds would be invested towards the development of the emirate’s Western Region.
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.