Abu Dhabi’s Sorouh to focus on deliveries in 2011
Will continue to focus on home market; Sees Abu Dhabi rents, prices falling 10 pct more
June 22, 2011 3:33-
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Dubai to double coal power plans, sees no power cuts
Capacity of coal-fired plant to rise to 3,000 MW; DEWA sees no shortage of power, desalinated water; Sees power demand growth of by 5 percent
June 22, 2011 3:31 -
Qatar urges firms to lift foreign ownership limits
Qatar in talks with companies; No blanket increase seen - Doha bourse official; Increase in limits necessary to win MSCI upgrade
June 22, 2011 3:29
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Citadel says Egypt lifts travel ban its chairman
Travel ban lifts for chairman of private equity firm Citadel, from which UAE-based Abraaj Capital is reportedly considering buying stocks.
June 20, 2011 2:46 -
StanChart considers bid for Indonesia Islamic lender – sources
StanChart continuing with due diligence - source; Qatart Islamic Bank, Bank Mega among second-round bidders - sources, reuters
June 20, 2011 2:39 -
Kuwait’s Investment Dar names Al-Humaidhi as new CEO
Following restructure plans and under the Financial Stability Law, Investment Dar requires the roles of chair and chief exec to be separate - reuters
June 20, 2011 2:02
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UAE says no plan to raise foreign ownership limit
UAE to keep 49 percent foreign ownership for now; Raising foreign ownership requirement for MSCI upgrade; UAE earlier said new law may be introduced end-2011 - reuters
June 20, 2011 1:58 -
National Bank of Fujairah signs $235M club loan
NBF was expected to raise $250 mln; Funds for general business purposes - statement - Reuters
June 19, 2011 10:53 -
UAE to toughen up money declaration rules from September
The country is tightening declaration laws in efforts to change UAE's reputation as a money laundering destination.
June 19, 2011 10:49
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ADCB to net $272 mln in profits from RHB stake sale
ADCB sold its 24.9 percent stake in RHB to Aabar; Says funds to be used to strengthen balance sheet; ADCB shares rise 2.5 percent on Abu Dhabi bourse - reuters
June 19, 2011 10:27 -
Zain Iraq prepares for IPO-newspaper
Kuwait telco giant Zain's Iraqi unit prepares to launch IPO expected to value at $80 million, according to an unnamed source.
June 19, 2011 10:12 -
Abu Dhabi to remain invested in Malaysia’s RHB
Abu Dhabi Commercial Bank (ADCB) on Friday signed an agreement to sell its 25 percent stake in RHB Capital to Aabar Investments, an Abu Dhabi investment fund, for 10.80 ringgit per share. - reuters
June 18, 2011 2:57
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BAE to be hit by cost over-runs on Omani programme
BAE shares down as it experiences over-runs that would lead to a $258.7 million charge
June 18, 2011 2:55 -
UAE May Inflation at 3-month high, food costs jump
Inflation has remained low this year, at 1.1 percent in April, as banks remain hesitant to lend despite inflows of deposits to the OPEC member, seen as a relatively safe haven after unrest rocked nearby Bahrain, Oman and Yemen.
June 18, 2011 2:53 -
Morocco king to lose some power, remain key figure
King says constitution to be put to referendum on July 1; Monarch to share some powers, but remains key power-broker - reuters
June 18, 2011 2:47
