Main headlines
May 19, 2013
Omantel announced that it inked an agreement for another submarine cable, the 'Bay of Bengal Gateway' submarine cable system (BBG).
The banking system in Qatar has been robust, with a compounded annual growth rate (CAGR) of 20 percent in assets from March 2008 - March 2012 and another 20 percent in the year to March 2013.
May 16, 2013
The Saudi stock market recorded nominal gains yesterday, as the Tadawul All-Share Index (TASI) closed higher to 7,147.42, adding 8.11 points or 0.11 percent for the entire day.
Saudi banks continue to support the macroeconomic conditions by providing the necessary financing for local businesses.
“Expect to hear a lot of noise on new search products like Google Now and voice search integration.“
Alfa unrolled the country’s first commercial 4G data service in certain areas of Beirut Wednesday and Lebanon’s second mobile operator, touch, is set to follow suit next week.
Dubai’s benchmark index continued yesterday from where it ended on Tuesday, as stocks maintained their upward trend to set new highs since October 2009.
“Abu Dhabi, I think, is expected to release a lot of work this year, including the building of the new Dh2 billion Khalifa hospital,” said Tabari.
May 15, 2013
Saudi Arabia’s real GDP is estimated to have expanded 6.8 percent in 2012.
The private placement amounting to 5.28 per cent shareholding stems from the bank’s overall capital augmentation plan.
UAE researchers have discovered the oil extracted from microalgae as a promising alternative to diesel, saying it can run motor engines effectively without any modifications.
Revenue from the sale of hydrocarbons during the period was Dh557 million ($152 million).
Oman National Investment Corporation Holding (ONIC) has reported a net profit of RO3.08mn for the first quarter ended March 31, 2013.
May 14, 2013
The Central Bank of Oman has urged licensed banks operating in the Sultanate to show more interest in financing small and medium enterprises.
Kuwait’s GDP has been forecast to grow 1.1 per cent in 2013 as oil prices and production stabilises.
