Main headlines

May 29, 2013

Market breadth stood in favour of decliners
11:32 GMT

Trading activity remained flat on the local bourse as the Muscat Securities Market general index consolidated to close at 6,396.10.

The event will also include technical training sessions
11:21 GMT

Qatar's first Heating, Ventilation and Air- Conditioning (HVAC) systems exhibition will bring together 75 regional and international companies at the Doha Exhibition Center from June 4 to June 6.

Kuwait has three refineries with a daily production capacity of around 930,000 barrels
10:51 GMT

Kuwait National Petroleum Co said yesterday that it has signed a $516 million contract with South Korean Daelim Industrial for the repair and expansion of sulphur processing facilities at the Gulf state's largest refinery of Mina Al-Ah madi.

The donation will be used for the operational expenses of the centre
10:43 GMT

Bumga Group, a construction materials major, affirmed its commitment to the autism spectrum disorder cause by pledging Dh1.8 million to Dubai Autism Centre (DAC).

Saudi Arabia 100 Riyals bill
10:35 GMT

The Saudi development fund agreed Tuesday to lend Tunisia USD 150 million (some 230 million Tunisian Dinars) to co-finance construction of 20,000 housing units for low-income people.

South Korean firms including Samsung, Hyundai and Doosan Heavy Industries will build the four 1,400-megawatt reactors
10:29 GMT

The oil-rich UAE began construction yesterday of a second nuclear power plant, one of four reactors aimed at cutting carbon dioxide emissions by some 12 million tonnes a year in 2020.

The WRDC is encouraging the private sector
06:00 GMT

The value of announced projects in Abu Dhabi’s Western Region is Dh295 billion, a top-ranking Abu Dhabi government official told reporters on the sidelines of Al Gharbia Development Forum in the capital, an event aimed to draw new investors to the region.

The announcement came about a week after Doha Bank made public its commitment
06:00 GMT

More banks in the UAE are joining the SME lending bandwagon to expand their market share of the country’s financing segment.

Emirates NBD said it is also committed to extend special interest rates
05:00 GMT

Emirates NBD and Dubai SME have entered into a strategic partnership to extend up to Dh50 million in new loans dedicated to Emirati entrepreneurs and small businesses.

May 28, 2013

The Jordanian Royal Scientific Society is collaborating in the project
12:19 GMT

French firm Solar Euromed is to build a pilot solar energy station and laboratory in southern Jordan.

This rapid growth was primarily driven by the services sector and the gas sector
12:17 GMT

Enhanced private sector activity stimulated by higher government spending and growth in the non-oil and gas sector will drive Qatar’s real GDP growth to 6.5% this year and 6.8% in 2014.

Hike will undoubtedly have a negative impact on the price of products for consumer
12:04 GMT

Businessmen working in Egypt’s building materials sector warned that steel prices are expected to rise this coming June, as a result of increases in the price of raw materials and the continued devaluation of the Egyptian pound.

The 100MW plant will generate clean energy to power 20,000 homes in the UAE
12:00 GMT

Proper regulatory and policy frameworks are required to reach this potential, says expert.

They urged the EBRD “to reject the loan, or at least postpone its decision”
11:00 GMT

A group of NGOs have announced their opposition to a proposed loan from the European Bank for Reconstruction and Development (EBRD) to fund oil drilling projects in Egypt.

Taqa has completed the feasibility study for the power plant
06:19 GMT

Abu Dhabi-based global energy company, Taqa, is working on plans to build a 100 megawatt, $850 million utility scale waste-to-energy plant in Abu Dhabi to generate power for 20,000 households.