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Jan 06 2013

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Top 10 Stories On Zawya Dow Jones On Jan 6 At 0800 GMT

1.UAE PMI RISES TO 55.6 IN DEC VS 53.7 IN NOV AS NEW ORDERS SURGE -HSBC

Non-oil business activity in the United Arab Emirates surged in December as new orders increased by the sharpest rate since August 2009, putting the country's economy on sound footing as 2013 gets underway, HSBC said on Sunday.

2.DIB ACQUISITION PLAN FOR TAMWEEL AT FAIR VALUATIONS - EFG

Dubai Islamic Bank is acquiring Tamweel at fair valuations, says EFG Hermes in a note.

3.SENIOR UAE BANK EXECS TO MEET SUNDAY ON NEW MORTGAGE RULES

Senior bank executives in the United Arab Emirates are set to meet on Sunday to discuss their response to new central bank rules that cap mortgage lending to expatriates at 50% of a home's value.

By Leila Hatoum and Asa Fitch

4.DUBAI ISLAMIC BANK EYES FULL OWNERSHIP OF MORTGAGE FIRM TAMWEEL

Dubai Islamic Bank's (DIB.DFM) board of directors has approved a plan to take full ownership of Tamweel (TAMWEEL.DFM), an Islamic mortgage provider based in Dubai.

By Asa Fitch

5.MOST GULF MKTS UP; DUBAI SHRS AT MULTI-MONTH HIGH

Most Persian Gulf stock markets trade higher Sunday, buoyed by global equity strength over the weekend.

By Nikhil Lohade

6.LEBANON BUDGET, TREASURY DEFICIT WIDENS 48% TO $2.06B IN FIRST NINE MONTHS

Lebanon's budget and treasury deficit widened 48% to 3.104 trillion Lebanese pounds ($2.06 billion) in the first nine months of 2012 from LBP2.103 trillion a year earlier mainly due to an escalation in expenditure outside debt servicing.

By Shikrallah Nakhoul

7.EXXONMOBIL EGYPT RENEWS CONTRACT WITH EGYPTIAN DRILLING FOR 5 YRS

ExxonMobil Egypt, an industrial lubricant blending and marketing unit of U.S.-based ExxonMobil Corp. (XOM), said in a statement on Saturday that it has renewed its contract with the Egyptian Drilling Co., or EDC, for an additional five years.

By Shikrallah Nakhoul

8.ISX HEAD: ASIACELL IPO WILL HELP ATTRACT MORE FOREIGN INVESTORS TO IRAQ

Iraqi telco Asiacell's $1.28 billion initial public offering, which opens for subscription Thursday, is likely to generate substantial interest and help attract a greater number of foreign investors trading on the local bourse this year, according to the head of the Baghdad-based stock exchange.

By Rory Jones

9.ABU DHABI'S TAQA INKS ACCORD ON TURKISH ENERGY PROJECT

Abu Dhabi National Energy Co. (TAQA.AD), better known as Taqa, said Thursday it signed an inter-governmental agreement with Turkey for the development of power plants and associated coal mines in the southern Turkish region of Afsin-Elbistan.

By Summer Said

10.OIL SHIPMENTS TO FALL BY 250,000 B/D IN 4 WEEKS TO JAN 19

Seaborne oil shipments from the Organization of the Petroleum Exporting Countries are to fall by 250,000 barrels a day in the four weeks to Jan. 19, compared with the previous four-week period, U.K.-based tanker tracker Oil Movements said Thursday.

By Sarah Kent

-Dubai Bureau, Dow Jones Newswires; +9714 3748044; djnews.dubai@dowjones.com

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06-01-13 0801GMT

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