June 9, 2013
Dubai Global furniture solutions leader Intermetal, a Group Harwal Company, has invested Dh75 million to establish a new factory in Dubai.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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), 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.
The new pay-as-you-go service called Cloud Compute was announced yesterday.