Economy & Trade
May 27, 2013
Petroleum Development Oman (PDO) has signed a US$30mn contract with Schlumberger, a leading international oilfield services company, which will increase the amount of Omani-made materials used in the oil and gas sector.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, today launched the Best M-Government Service Award.
May 26, 2013
Investment Corporation of Dubai (ICD), the holding company for some of the emirate's best-known companies, may increase the size of a $2 billion loan after significant interest in the deal from lenders, banking sources said.
Cooperation between the UAE and Kazakhstan is growing in real estate, energy and financial services, a study recently commissioned by Dubai Chamber of Commerce and Industry shows.
Issuance of debt securities saw a strong pick up during the first quarter of 2013 on the back of healthy activity by the non-financial sector in Saudi Arabia and UAE banks, according to the latest research from the National Bank of Kuwait (NBK).
Dubai eGovernment has gifted to its employees the latest book of HH Sheikh Mohammed entitled ‘Wamdat Min Fikr – Flashes of Inspiration’.
A high-level delegation from the Department of Economic Development (DED) in Dubai is visiting Canada and the US as part of promoting the business-related services available in Dubai.
International Finance Corp, a unit of the World Bank, is launching with several partners an investment facility worth up to $400 million for the MENA as it tries to spur lending to the region’s large pool of SMEs
Dubai eGovernment has won two awards for its mDubai mobile app and for its ePay gateway adding yet another milestone to its record of achievements.
May 23, 2013
Egypt's central bank kept the price of the country's currency steady against the dollar at a special $800 million foreign exchange auction on Wednesday, called to help importers pay for wheat, meat, cooking oil and other essential imports.
The World Bank has proposed a $150 million loan for Jordan to help it with the cost of thousands of Syrian refugees fleeing the civil war in Syria, Jordanian and World Bank board sources said on Wednesday.
May 22, 2013
Chevron Corp is in advanced talks to sell most of its downstream assets in Egypt and Pakistan, three sources said, with the planned disposals seen raising around $300 million for the U.S. oil major.
The auction will be the central bank's second exceptional sale of foreign exchange. In April, it sold $600 million to pay for wheat, meat, cooking oil and other essential imports.
RTS Realtime Systems Group announced plans to open its newest data center in Dubai, the first Middle East site in its global data center network.
Saudi economic growth will slow to 4.4 percent in 2013 from 6.8 percent last year due to an expected fall in oil production, and cuts in government spending, the International Monetary Fund said Tuesday.