Main headlines
May 9, 2013
Legislation introduced by a bipartisan group of U.S. senators would block Iran's access to billions of dollars worth of foreign currency reserves.
ikoo, the integrated digital marketing solution provider with the largest reach in the Middle East and North Africa [MENA], announced a major partnership with STC Ventures, backed by Saudi Telecom Company, which has invested US$3 million in the company.
Qatar Petroleum plans to list on Qatar Exchange four subsidiary companies worth $50 billion over the next two years, Qatar Exchange Chairman Hussein Ali al Abdullah said, in Doha, on Wednesday.
Abu Dhabi National Energy Company, also known as Taqa, on Wednesday said its first-quarter profit before tax fell 68 per cent to Dh445 million due to lower production in the UK North Sea.
Tamkeen signed an agreement with Bahrain Development Bank (BDB) to add BD10 million to the Enterprise Financing Portfolio
Marriott International plans to aggressively grow its portfolio of 'extended stay’ segment which includes brands like the Marriott Executive Apartments and the Residence Inn, in the Middle East over the coming few years, according to a senior Marriott executive.
Saraya Bandar Jissah will have a major positive impact on the economy of the sultanate, said chief executive Sheikh Hamood Sultan al Hosni on Tuesday, as he hailed the progress in ongoing construction work.
The Coastal Zone and Waterways Management Section at Dubai Municipality has recently started running a website which details the coastal monitoring programme.
UAE trade with GCC countries through Dubai is estimated at Dh95 billion in 2012 up 28 per cent compared to the previous year. Saudi Arabia accounted for 41 per cent of overall trade, Dubai Exports, An Agency of the Department of Economic Development (DED) said yesterday.
The Saudi stock market could possibly take the lead in any moves for integration of regional exchanges, say industry analysts.
May 8, 2013
The Capital Market Authority is finalizing a regulatory framework which will allow foreigners to directly own stocks in Saudi Arabia, though the market has no need for liquidity from international investors, says its Chairman Mohammed bin Abdulmalik Al-Sheikh.
The Public Authority for Electricity and Water (PAEW) has identified four potential locations for the establishment of large-scale solar power projects, and land has been allocated at two of these places, according to a senior official.
The UAE is in talks with Virgin Galactic to start commercial space flights in 2013 with Abu Dhabi as a regional hub for the 21st Century spaceport, said Frank Rose, deputy assistant secretary (Space and Defense Affairs) at the US Department of State.
Today, well over two years into the Egyptian revolution, increased numbers of Egyptian youth are still struggling to find jobs. With political instability looming large, the economy receives one blow after another.
Water provision and road development projects worth SR 1 billion are progressing well in the governorates of Al-Kamil and Khulais, according to Makkah Gov. Prince Khaled Al-Faisal.
