Archives for the ‘Middle East Business News’ Category
  Dubai World’s debt talks seeing “progress,” says UK minister»

“There are signs of some progress being made from what I hear from the banks,” UK Trade Minister Mervyn Davies said in Dubai on Wednesday.

March 10, 2010

Union Properties receives offers for Ritz Carlton hotel»
The developer is hoping to sell the hotel for about AED1.5 billion, its chairman Khalid bin Kalban told Reuters.

March 10, 2010

Saudi inflation rose to 4.6 percent in February»
The Kingdom witnessed an inflation rate of 4.1 percent in January.

March 10, 2010

Dewa says its $1.5bn bond not backed by government»
The bond, expected to be issued in April, will not be guaranteed by the government, the CEO of the Dubai Electricity and Water Authority has clarified.

March 10, 2010

Opec increases 2010 oil demand forecast»
Opec said in a report on Wednesday that oil demand will grow at 900,000 barrels per day in 2010.

March 10, 2010


Foreign ownership to be allowed ‘this year’, says UAE minister»
Draft law to be submitted to the Cabinet within in month, says Minister of Economy Sultan bin Saeed al-Mansouri.

March 9, 2010


Antoine Choueiri dies aged 70»
The man widely regarded as the founding father and chief architect of the Middle East’s modern media industry, has died following a long battle with cancer.

March 9, 2010


Online spending high in UAE, despite lack of discounts»
Average spend in the last quarter of 2009 was $1,048, the highest in the region. But local consumers are hit by high postal charges; local sites do not offer Amazon.com-style money saving offers.

March 9, 2010

Dubai debt crisis ‘will be resolved soon’»
Abu Dhabi is ready to provide further aid, says UAE finance minister.

March 9, 2010

News Corp’s Fox to partner with Abu Dhabi»
Fox International Channels plans offices in UAE capital’s media zone; Rupert Murdoch to address Abu Dhabi Media Summit on Tuesday.

March 8, 2010

Subcontractors vie for UAE nuclear work»
Korea Electric Power Corporation to award $10 billion of engineering and construction subcontracts to other Korean companies.

March 8, 2010

Dubai debt could prompt further bank downgrades»
Dubai World restructuring plan could hit UAE banks’ ratings even harder, says S&P executive.

March 8, 2010

Facebook founder named ‘media person of the year’»
Billionaire Mark Zuckerberg, 25, will be honored at the Cannes Lions International Advertising Festival in June.

March 8, 2010

Bing not so ‘Bada’ in the Middle East»
Microsoft criticized after its search engine is found to censor results for users in Arab countries.

March 7, 2010

Dana Gas finds two wells in Egypt»
Middle East's largest private gas company makes discovery in Nile Delta.

March 7, 2010

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