Main headlines

June 9, 2013

Intermetal has set up a 300,000 square foot factory fully equipped with advanced manufacturing capabilities including CNC bending and routing machines
06:19 GMT

Dubai Global furniture solutions leader Intermetal, a Group Harwal Company, has invested Dh75 million to establish a new factory in Dubai.

Abu Dhabi economy improves significantly in first quarter
06:13 GMT

The Abu Dhabi Department of Economic Development (ADDED) said yesterday economic conditions in the emirate improved considerably in the first quarter this year led by an outstanding performance of local banks and the stock market that was further boosted by high global oil prices and inflow of tourists into the emirate.

Yemen reports increased investment in industrial, service sectors
05:30 GMT

Prime Minister Mohammed Salem Basindwa met on Saturday a Russian economic and investment delegation, headed by Russian deputy minister of Economic Development Alexei Likhachev who is currently visiting Yemen.

Gold smelter
05:00 GMT

Sudan's central bank has issued a directive prohibiting individuals from importing all types of gold including refined and bars unless an import permit is acquired from the Ministry of Commerce.

International Monetary Fund (IMF), which is holding talks with Egypt on a $4.8bn loan, says the country’s authority is progressing in technical talks as negotiations continue
(AFP Photo)
05:00 GMT

The statement comea a few weeks ahead of planned protests for 30 June and amid an already-ailing economy one year into President Mohamed Morsi’s tenure.

June 6, 2013

The waivers were granted to major oil importers China, India, Malaysia, Republic of Korea, Singapore, South Africa, Sri Lanka, Turkey, and Taiwan
12:46 GMT

The waivers were granted to major oil importers China, India, Malaysia, Republic of Korea, Singapore, South Africa, Sri Lanka, Turkey, and Taiwan.

Overview of the Business Bay
12:24 GMT

Dubai-based Arabtec Holding said yesterday it has been awarded a Dh810 million contract to build a 5-star hotel and apartments in Business Bay Dubai.

Abu Dhabi Index
12:23 GMT

Led by real estate and banking stocks, Abu Dhabi index rose moderately yesterday after a day of decline, its highest close since October 2008. The benchmark gained 0.76 per cent to end at 3599.29.

Iraq has been one of the countries Sudan has turned to for help with its financial woes
10:54 GMT

Sudan's investment minister Mustafa Osman Ismail has announced that the Iraqi government agreed on Tuesday to sell it oil but pay for its price at a later date.

Most of the waste in energy happened at night because lights and air conditioners were left on in offices
10:51 GMT

According to a preliminary energy audit conducted by Tecom in its facilities, a robust building operating practice would reduce energy consumption by 10 per cent immediately.

DFRE has prepared a line-up of events for DSS including the June 20 re-opening of the Modhesh World
10:43 GMT

This Friday, all roads will lead to Dubai as the 16th edition of the Dubai Summer Surprises (DSS) kicks off with shopping bargains in participating malls and family-centred entertainment activities for the month-long festival.

The CITC had announced earlier this year that it was watching Viber and other free Internet communications sites, including WhatsApp and Skype.
05:30 GMT

Expatriates are likely to find it more difficult to stay in contact with their loved ones at home with the banning of Viber by Saudi Arabia's telecommunications regulatory authority.

The report said that mobile-broadband subscriptions grew even faster over this period reaching around 1.7 billion.
05:00 GMT

Mobile subscriptions in the Middle East grew nine per cent year-on-year — or eight million — to 284 million in the first quarter of this year, mainly fuelled by strong growth in smartphones.

June 5, 2013

International Bank of Azerbaijan (IBA)
13:10 GMT

International Bank of Azerbaijan (IBA), the country's biggest lender, plans to raise $100 million through an Islamic syndicated loan this year to develop Islamic banking in the country, the bank said in a statement.

Etisalat currently offers three different cloud Compute models
12:21 GMT

The new pay-as-you-go service called Cloud Compute was announced yesterday.