Main headlines

June 17, 2013

Central Bank of Qatar
11:36 GMT

Qatar's central bank has tightened its curbs on how much banks can invest in stocks and bonds, according to a circular released by the central bank.

Tunis is also in talks with Qatar about the Gulf deositing at the Tunisian central bank
06:13 GMT

Tunisia has won $1.2 billion in funding from the Saudi-based Islamic Development Bank (IDB), aimed at backing industrial, agricultural and trade projects in the country whose finances have been weak since a revolution two years ago.

The statement gave no timeframe for the capital increase or the regulatory approval process.
06:00 GMT

Palm Hills, Egypt's second-biggest listed property developer, plans to increase its capital by 600 million Egyptian pounds ($85.8 million) through a rights issue.

Moody's Investors Service has upgraded Jebel Ali Free Zone FZE's (JAFZ) Corporate Family Rating (CFR)
06:00 GMT

Moody's Investors Service has upgraded Jebel Ali Free Zone FZE's (JAFZ) Corporate Family Rating (CFR) to Ba3 from B1, Probability of Default Rating (PDR) to Ba3-PD, and the rating on the US dollar-denominated trust certificates (Sukuk) issued by JAFZ Sukuk to Ba3.

no changes to the plan or the amount of aid the country is seeking
05:30 GMT

Egypt's government is in the late stages of verifying its economic reform programme with the International Monetary Fund before obtaining a $4.8 billion IMF loan, its central bank governor said on Saturday.

June 16, 2013

Emirates Securities Market
14:00 GMT

Stock markets in the UAE and Qatar gained on Wednesday after the MSCI upgraded the two countries to emerging market status. This is likely to attract increased attention from foreign investors.

The board of the subsidy fund said subsidies burned up 53.36 billion dirhams in 2012
13:01 GMT

Morocco will cut subsidy spending by 20 percent to 42 billion dirhams ($5 billion) or less in 2013 - depending on international commodities prices, the general affairs minister said on Friday.

UDC is the developer of a man-made island in Doha
12:46 GMT

United Development Co (UDC) , the developer of a man-made island in Doha, said on Thursday that is raising a 1.56 billion riyals ($428.4 million) loan facility from Qatar National Bank.

The 489-seat Emirates A380 offers 14 Private First Class Suites, 76 lie-flat beds in Business Class and 399 spacious seats in Economy Class
12:43 GMT

Emirates on Wednesday announced an upgrade of service from Dubai to Los Angeles with the introduction of the A380 starting on December 2, this year.

Desktop PCs are projected to fall by 5 per cent for the year
12:40 GMT

Cannibalisation of tablet computers is again going to make a big dent in computer (portable and desktop) sales in the UAE in the second quarter.

Oil tanks
11:50 GMT

The UAE’s May oil output rose 1.1 per cent over April to 2.73 million barrels per day (bpd), latest data from the Paris-based International Energy Agency (IEA) showed.

The index trimmed its year-to-date gains to 7.25 percent.
11:42 GMT

It turned out to be largely negative for investors yesterday, as Saudi Arabia's benchmark stock index (TASI) recorded a decline of 4.32 percent, which is the biggest intra-day decrease in more than one year.

The Kingdom has this potential because it is located close to the equator
06:00 GMT

An expert here believes that the Kingdom is likely to spend all its oil on electricity in the country by 2031 if current consumption continues, and has called for an urgent program to harness solar energy.

The Saudi Industrial Development Fund (SIDF)
06:00 GMT

The Saudi Industrial Development Fund (SIDF) has approved more than 3,480 loans worth SR 106 billion for 2,475 projects, the SIDF chief has disclosed.

International Monetary Fund
05:30 GMT

The International Monetary Fund has warned that Dubai is risking another boom-to-bust business cycle by pushing up its debt to boost short-term growth at the cost of the medium term outlook, in a statement concluding its annual mission to the UAE.