Tuesday, Jul 31, 2007
The following is a Zawya Dow Jones selection of stories translated from Arabic newspapers published on July 31 as of 0636 GMT.
UNITED ARAB EMIRATES
AL BAYAN:
UAE's Al Futtaim To Invest EGP12.5B In Egypt In 5 Years
U.A.E.-based Al Futtaim Group said will invest 12.5 billion Egyptian pounds ($2.2 billion) in Egypt over the next five years.
The group said EGP4 billion will be invested in real estate and the rest will be invested in Egypt's retail and trading sectors.
The investments are expected to bring 60,000 job opportunities, the newspaper said.
Newspaper Web site: http://www.albayan.ae
KUWAIT
AL WATAN:
Kuwait's Markaz To Launch $60M RE Fund For US Market
Kuwait Financial Centre, or Markaz, will launch a real estate fund with a $60 million capital to invest in the U.S. market.
The fund will be Sharia compliant and will focus on developing residential apartments.
However, the newspaper didn't say when it will be launched.
Web site: http://www.alwatan.com/kw
AL QABAS:
Eight Closed Joint Stock Cos Set Up With KWD50M Cap
Eight new joint stock companies have been set up in Kuwait with a combined capital of 50 million Kuwaiti dinars ($177.1 million).
Bouyou' for Leasing & Finance has a KWD15 million capital. Kashaf Premium for Petroleum Services has a KWD10 million capital and Wasa'el for Takaful Insurance is a Shariah-compliant firm with a capital of KWD10 million.
International Technology Group is also Shariah-compliant with a capital of KWD5 million.
Abaad Real Estate has a KWD5 million capital and Energy House for Petroleum and Gas has a capital of KWD1 million.
Facilities for Collecting Money has a KWD1 million capital and Sama Holding also has a KWD1 million capital.
Web site: http://www.alqabas.com.kw
-Dubai Bureau, Dow Jones Newswires; +9714 364 4961, djnews.dubai@dowjones.com
(END) Dow Jones Newswires
31-07-07 0636GMT
