|
|
BUSINESS
| Dubai’s rating up on debt plan, economic growth |
| DUBAI — EFG-Hermes, Middle East leading investment bank, has raised Dubai’s market ranking to “overweight” from neutral as the region’s premier business hub restructures its debt and shows economic resurgence as well signs of recovery in property sector. |
| Abu Dhabi inflation edges up |
| ABU DHABI — The inflation rate in Abu Dhabi edged up 0.9 per cent in the first quarter, compared to same quarter last year, according to the data released by Statistics Center in the Capital on Wednesday. |
| Speed up reforms: OECD |
| DUBAI — The Organisation for Economic Cooperation and Development, or OECD, on Tuesday urged state-owned companies in the Middle East and North Africa region to ensure improved corporate governance to reduce corruption and restore confidence in the aftermath of the Arab Spring. |
| EIB, Dubai Bank merger on cards |
| DUBAI — Emirates Islamic Bank, or EIB, and Dubai Bank are expected to merge this month that will create one of the leading Shariah-compliant banking units in the UAE, according to sources. |
| Dubai base to help boost Bombardier’s market in ME |
| DUBAI — Bombardier Aerospace, Canada-based aircraft manufacturer, said its new Business Aircraft Middle East sales office at the Dubai Airport Freezone helps it boost its share in the fast growing Middle East aviation market. |
| ME business confidence declines |
| DUBAI — Middle East business confidence has slumped nine index points to 125 since September 2011 amid eurozone crisis and uncertain economic climate as emerging economies of Brazil and India topped the confidence index, Regus, the world’s largest provider of flexible workplace solutions, said in a report. |
| Abraaj Capital, Kuwait Energy sign strategic investment deal |
| DUBAI — The UAE’s Abraaj Capital and Kuwait Energy on Tuesday announced a strategic investment agreement that will enable the latter’s ongoing growth and development plans and facilitate its emergence as a regional independent exploration and production (E&P) pioneer with world-class expertise. |
| NRIs spur SBT business growth by 24% to $26b |
| DUBAI — State Bank of Travancore, or SBT, the top recipient of non-resident Indian remittance in Kerala, is on track to boost its branch network to more than 1,000 units within a year as it seeks to diversify products and services by foraying into gold bullion trade. |
| DSI receives Dh1.3b projects in first quarter |
| DUBAI — Drake & Scull Qatar, or DSQ, a wholly owned subsidiary of Drake & Scull International, or DSI, a regional market leader in integrated design, engineering and construction disciplines of Civil Contracting, Mechanical, Electrical and Plumbing (MEP), and Water and Power sees progressive tender activities and expects a substantial pick up in the Qatari construction index in Q2. |
| DFM rises; Air Arabia rallies on dividend |
| DUBAI — Dubai benchmark stock index advanced the most in a week on speculation first-quarter earnings will beat expectations and after Air Arabia raised dividend payments. |
|
|
||||||||||
|
||||||||||
© 2012 Khaleej Times, All rights reserved