Main headlines

May 30, 2013

Both sides agreed on the need to ease Schengen visa procedures for UAE
05:30 GMT

UAE-Spanish trade increased by 75 per cent from 1 billion euros in 2009 to 1.75 billion euros by end of 2012, Minister of Economy Sultan Bin Saeed Al Mansouri said on Wednesday at the Second UAE-Spain Joint Economic Committee which was held in Abu Dhabi.

A team of Freezone Sohar officials visited India recently
05:00 GMT

With Indian companies and investors continuing to evince interest in Freezone Sohar, the economic hub is aiming to double investment from India to US$250mn in the coming two years from the present US$125mn.

Emirates Securities Market
05:00 GMT

Stocks in Dubai and Abu Dhabi continued to rise, with their benchmark measures gaining for the third straight day yesterday.

May 29, 2013

Standard & Poor's Ratings Services
14:00 GMT

Standard & Poor's Ratings Services has revised the outlook on the long-term sovereign credit ratings on the Kingdom of Saudi Arabia to positive, from stable.

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.