Emaar Chairman Says Merger Talks To End In One Month
Talks on the merger of Emaar Properties PJSC with three state-owned developers should be completed in about a month, with the new entity set to announce new projects as soon as the merger is complete, Emaar's chairman said in a television interview aired Saturday.
Zawya Dow Jones News - Sat 21Nov09 13:35 GMT
Dubai's Ruler Replaces Financial District Chief
The head of Dubai's financial district was unexpectedly replaced Friday as Sheik Mohammed bin Rashid Al Maktoum moved to radically shake up the management of his emirate's corporate empire.
Zawya Dow Jones News - Sat 21Nov09 05:00 GMT
Dubai To Tap Intl Mkts For Part Of 2nd $10B Bond
Dubai will raise a second $10 billion bond to support the government and its related companies' debt soon, through a combination of government support and tapping international markets, a government official said.
Zawya Dow Jones News - Fri 20Nov09 11:22 GMT
UAE Ctrl Banker: Sees 'Low Single Digit' GDP Growth In 2010
The United Arab Emirates' economy will grow next year, but only modestly, central bank governor Sultan Bin Nasser Al Suwaidi said Friday.
Zawya Dow Jones News - Fri 20Nov09 11:08 GMT
Saad Group To Sell 19% Stake In Petra Diamonds
Saad Group has agreed to sell a 19 percent stake in Petra Diamonds Limited, a UK-based mining company focusing on diamond resources, for $100 million in a private placement.
The Saudi Gazette - Sat 21Nov09 07:10 GMT
Lebanon Plans Dollar Benchmark Bond Issue
The Lebanese Republic has hired Bank of Beirut, Citigroup Inc. and Societe Generale de Banque au Liban as lead managers for its forthcoming dollar-denominated benchmark bond issue, people familiar with the deal said Friday.
Zawya Dow Jones News - Sat 21Nov09 07:17 GMT
Saudi Natl Water Co To Tender SAR1.4B Storage Proj
Saudi Arabia's state-owned National Water Co. plans to tender in the coming six months a water storage project in the Jeddah province that will cost 1.4 billion Saudi riyals ($373.3 million), Dammam-based Al Yaum daily reports Saturday.
Zawya Dow Jones News - Sat 21Nov09 09:08 GMT
Abu Dhabi Airport Traffic Up 7% Yr To Date, Boosted By F1 Race
Abu Dhabi International Airport has seen a 7% increase in passengers this year to date, with October cargo flow boosted by the emirate's hosting of the Formula One Grand Prix.
Zawya Dow Jones News - Sat 21Nov09 13:08 GMT
ENBD Eyes Singapore, China Expansion; Regional Growth
U.A.E.-based Emirates NBD, the Middle East region's largest lender by assets, Saturday said it is eying Singapore and China as part of its 2010 expansion plans, and will focus on organic growth in the region.
Zawya Dow Jones News - Sat 21Nov09 12:48 GMT
UAE Non-Oil Trade Seen Up 10% In '09; 1H Trade Deficit Down
The volume of non-oil trade in the United Arab Emirates is expected to increase by 10% in 2009 from last year, with increased non-oil exports pushing the country's trade deficit down 25% in the first half of this year, an official said.
Zawya Dow Jones News - Sat 21Nov09 11:03 GMT
Saudi Non-Oil Sept Exports Dn 19% On Weak Petchem Demand
Saudi Arabia's non-oil exports in September fell 19% to 7.6 billion Saudi riyals ($2.03 billion) from a year earlier period amid weak demand for petrochemicals, data from the Central Department of Statistics and Information, or CDSI, showed Saturday.
Zawya Dow Jones News - Sat 21Nov09 11:02 GMT
Saudi Ports Authority Plans Restructuring, Autonomy
The Saudi ministerial committee for administrative organization has completed a preliminary study for a project to restructure the Saudi Ports Authority, or SPA, Saudi-based Al Riyadh daily reports Saturday.
Zawya Dow Jones News - Sat 21Nov09 10:59 GMT
Saudi Qassim Cement Co Distributes 1-For-1 Bonus Shares
Saudi Arabia's Qassim Cement Co. has added planned bonus shares to its shareholders portfolios as of Saturday, the kingdom's stock exchange said.
Zawya Dow Jones News - Sat 21Nov09 10:58 GMT
Iran: $4B For Yadavaran Jofeir Development
The Iranian government approved the development of Yadavaran and Jofeir oilfields as buy-back schemes worth $4.071 billion by China's Sinopec and Belarusian Belarusneft in order to produce 110,000 barrels of oil per day.
Iran Daily - Sat 21Nov09 10:57 GMT
Iran: $1B In Bonds To Fund Steel Projects
Ten trillion rials (around $1 billion) worth of cooperative bonds will be issued next Iranian month (November 20-December 10) to expedite the construction of 8 steel projects in Iran, Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) stated.
Tehran Times - Sat 21Nov09 06:49 GMT
Dubai's Sheikh Hamdan Calls For More Govt Regulation
Sheikh Hamdan bin Mohammed Al Maktoum, the crown prince of Dubai, called for greater global government regulation and a new international order in his first major policy speech held at a World Economic Forum summit Friday.
Zawya Dow Jones News - Sat 21Nov09 05:39 GMT
Deutsche Bahn Set For Giant Qatar, Bahrain Contract -Spokesman
German rail operator Deutsche Bahn is set to sign a contract worth "billions of euros" to build railways in Qatar and Bahrain, a spokesman for Deutsche Bahn told AFP Friday.
Zawya Dow Jones News - Fri 20Nov09 18:09 GMT
Gulf Investment Corporation Lowered to 'BBB-/A-3'; Outlook Stable
Standard & Poor's Ratings Services said it downgraded its long- and short-term counterparty credit ratings on Kuwait-based wholesale institution Gulf Investment Corporation G.S.C. (GIC) to 'BBB-/A-3' from 'BBB/A-2'. The outlook is stable.
Press Release - Fri 20Nov09 09:37 GMT
Samsung Engineering Scores UAE Multi-Bn Dollar Refinery Plant Order
After receiving a $1.2B Fertilizer plant order last month from Fertil, a subsidiary of Adnoc, Samsung Engineering has once again obtained a mega-plant order in the region.
Press Release - Fri 20Nov09 09:34 GMT
Volkswagen Board Approves Porsche Takeover
Volkswagen, Europe's biggest carmaker, said on Friday that its supervisory board had cleared the way for its planned takeover of sportscar maker Porsche.
AFP - Fri 20Nov09 09:33 GMT
Mega Industrial City Project Underway In Egypt
Egypt's Industrial Development Authority (IDA) has declared progress is underway in establishing a large-scale industrial project in Cairo.
Daily News Egypt - Fri 20Nov09 09:27 GMT
Dubai Airshow Ends On Sharply Lower Sales Note
The biennial Dubai Airshow ended on Thursday, fulfilling pessimistic analyst forecasts, as sales of only a bit more than 14 billion dollars dimmed against 155.5 billion dollars in 2007.
AFP - Fri 20Nov09 07:47 GMT
Mohammad Alters ICD, Dubal Boards
Dubai His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has issued a decree reshuffling the board of the Investment Corporation of Dubai (ICD).
Gulf News - Fri 20Nov09 06:35 GMT
Emirates Airline Forced To Raise Prices By Berlin
The German government has forced Dubai's Emirates airline to charge more for business class tickets on flights out of Germany to destinations in Asia and South Africa.
Financial Times - Fri 20Nov09 05:49 GMT
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