Main headlines

June 12, 2013

The MoU was signed for the Ministry of Finance by Obeid Humaid Al Tayer, State Minister for Financial Affairs, and for the Central Bank by Sultan Bin Nasser Al Suwaidi, Governor of the Central Bank of the UAE
11:38 GMT

The Ministry of Finance and the Central Bank of the UAE have announced today the signing of a Memorandum of Understanding (MoU) in implementation of a Council of Ministers resolution.

Consumer prices increased 0.6 percent in April, after 0.5 percent in March
11:03 GMT

Annual inflation in Yemen surged to 14 percent in April, the highest level since February 2012, fuelled by rises in the prices of food, tobacco and qat, central bank data showed on Tuesday.

Emirates Islamic Bank
08:00 GMT

After recording a strong growth in first quarter net profit and net income, Emirates Islamic Bank is gearing up towards an aggressive push in the competitive retail

Market breadth stood in favour of decliners as of the 57 securities
06:00 GMT

Most regional equity markets ended the day modestly higher amid expectations of a possible MSCI upgrade for UAE and Qatar to emerging market status.

The UAE and Saudi Arabia are the largest auto component markets in the GCC
06:00 GMT

The recovery of the Dubai property market has led to a boost in the consumption of auto parts, according to exhibitors at Automechanika at the Dubai International Convention and Exhibition Centre. The event opened on Tuesday.

The additional staff will be assigned to new and existing outlets in the Gulf, Levant, Far East, Asia
05:00 GMT

Sharaf Retail is on an expansion mode and is set to hire 1,500 additional employees over the next 18 months, the company announced on Tuesday.

June 11, 2013

Saudi Landbridge
13:19 GMT

Saudi Arabia is currently undertaking ground-breaking transformations in the transportation sector and Huawei Technologies aims to place the passengers at the heart of the new transformation by emphasizing safety, comfort and reliability as critical components of railway infrastructure.

Payments will be backdated to January and will cost the government BD105 million this year and next.
12:06 GMT

Bahrain has agreed to increase payouts to around 100,000 needy families in an attempt to end the impasse on the national budget.

Bahrain Airport
11:46 GMT

There is keen international interest in the kingdom's aviation industry, Bahrain Airport Services (BAS) has said.

Total and Qatari officials weren’t immediately available for comment.
11:46 GMT

Qatari investors have increased their stake in Total to 4.8 percent, said news website Wansquare on Monday. According to the news website, investors from Qatar have increased their participation in the past year and notably in recent weeks.

Over 70 per cent of the respondents have used online advertising to help reach new clients
11:39 GMT

Over 100 business leaders representing over 80 Qatari small and medium businesses from various sectors attended the SME Evolution Program 2013 launch event in the Four Seasons Hotel Doha.

It was last in the market in July last year, with a $1.5 billion 10-year bond which yielded 6.143pc.
11:31 GMT

Bahrain has picked four banks to arrange investor meetings ahead of a potential sovereign bond issue, a document from lead managers said yesterday, with proceeds likely to be used to plug an expected budget deficit for 2013.

The new procedure adopted by the Ministry of Haj during the upcoming month of Ramadan is based on grouping Umrah performers into two groups to ensure pilgrims do not exceed the permitted 14 days in the Kingdom
10:42 GMT

Hotels, Umrah operators and aviation firms will incur SR 5 billion in losses due to the Haj Ministry’s recent decision to limit the validity of Umrah visas to 14 days, according to the estimates of the National Committee for Haj and Umrah (NCHU).

Tadawul All-Share Index (TASI) finished with a nominal decline of 0.08 percent yesterday
10:35 GMT

Despite an upward jump (+16.5 points) after the opening bell, the Tadawul All-Share Index (TASI) finished with a nominal decline of 0.08 percent yesterday.

He said he could save a handsome amount by holding the remittance for more than two weeks.
06:13 GMT

Indian expatriates who were sending money back home had smiling faces yesterday as the struggling Indian rupee hit a record low against the US dollar.