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BUSINESS
| Kim set to assume WB post in July |
| WASHINGTON — The World Bank on Monday chose Korean-born American health expert Jim Yong Kim as its new president, maintaining Washington’s grip on the job and leaving developing countries frustrated with the selection process. |
| Dubai Chamber members’ exports, re-exports up 7.8% |
| DUBAI — Exports and re-exports by members of Dubai Chamber surged 7.8 per cent to Dh63.5 billion in the first quarter 2012 compared to the same 2011 period, signalling that the emirate’s economy “is firmly back in the saddle and ready to make giant strides,” a new report said. |
| UAE banks are in ‘good position’ |
| DUBAI — The UAE Central Bank on Saturday declared a Dh3.7 billion net profit for the fiscal year 2011. |
| S&P affirms Britain’s AAA rating with stable outlook |
| LONDON — Britain’s kept its AAA grade with a stable outlook at Standard & Poor’s as the ratings company disagreed with Moody’s Investors Service and Fitch Ratings on the risks to the government’s ability to pay its debts. |
| ICT package for investors, businessmen on cards |
| DUBAI — Dubai SME, the agency of the Department of Economic Development (DED), has signed a partnership agreement with Microsoft Gulf and the du, to offer a competitive and innovative information and communication technology (ICT) package for businessmen and investors. |
| Oman exports surge 28% |
| MUSCAT — Oman’s exports grew by more than 28 per cent last year largely because of higher oil prices, newly-released official statistics indicate. |
| Huawei sets vision high in ME’s smartphone market |
| DUBAI — Huawei, a leading global information and communications technology (ICT) solutions provider, has made a successful foray into the UAE smartphone market by introducing its flagship models in the emirate, its senior official said. |
| NBAD opens contact centre fully run by Emirati women |
| AL AIN — The National Bank of Abu Dhabi (NBAD) has launched a contact centre in Al Ain, which is managed and staffed entirely by Emirati women. |
| Saudi seeks lower oil prices |
| SEOUL - Top oil exporter Saudi Arabia is determined to bring down high oil prices and is working with fellow Opec members to accomplish that, Oil Minister Ali Al Naimi said on Friday. |
| Record volumes at Abu Dhabi Terminals in 2011 |
| Abu Dhabi Terminals (ADT) reports that the number of containers imported and exported through Mina Zayed by local businesses continue to grow. In 2011 ADT handled 767,713 TEU [an industry norm for twenty foot equivalent container units], which represents a staggering 47% increase on 2010. |
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