IMF: UAE may face risks from deepening euro crisis
UAE banks only moderately exposed to Europe; Able to handle significant rise in bad loans; but foreign funding shock could tighten bank liquidity
June 10, 2012 5:52-
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Ominvest unit IPO delayed to September; shares slump
Shares in Ominvest, which was planning to offload a significant portion of its stake in the IPO, fell 5.6 percent on the Muscat Securities Market on Sunday.
June 10, 2012 5:51 -
Dubai’s Friendi eyes six markets after Virgin deal
Dubai group Friendi plans to expand into six more countries within four years after the mobile virtual network operator (MVNO) agreed a strategic partnership with Richard Branson's Virgin Group, its chief executive told Reuters on Sunday.
June 10, 2012 5:51
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UAE’s Dana Gas shuffles board amid debt talks
Sharjah-based Dana Gas, the energy firm which has a $1 billion Islamic bond, or sukuk, due in October, has appointed a new chairman, it said in a bourse filing on Sunday.
June 10, 2012 5:50 -
Talks for $500 million Gulf Marine sale collapse
Financing issues, valuation cause of stalled talks – sources; CEO says still open to sale but acknowledges impediments; Two bidders were shortlisted from dozen parties for talks; Gulf Capital CEO says may look at IPO for GMS in 2 years
June 10, 2012 5:50 -
Oman detains poet, blogger amid growing discontent
Poet, blogger among those detained; Activists say 10 arrested in past two weeks
June 10, 2012 10:58
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Saudi Arabia’s may inflation eases to 5.1 percent
Saudi Arabia's annual inflation eased to a nine-month low of 5.1 percent in May, despite a slight rise in food and housing prices, official data showed on Saturday.
June 10, 2012 10:57 -
Tanzania invites UAE to explore for oil and gas
Tanzania’s president has invited investors from the United Arab Emirates to join the rush for oil and gas in the…
June 10, 2012 10:53 -
SABIC’s Petrokemya signs deal with Tecnicas Reunidas
Petrokemya, a subsidiary of Saudi Basic Industries Corp (SABIC) has signed an initial deal with Spanish oil engineering company Tecnicas Reunidas to build a petrochemical plant in the Saudi industrial city of Jubail, SABIC said on Saturday.
June 10, 2012 10:38
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UAE may fine banks for bad loans
The United Arab Emirates may soon fine banks which grant loans to consumers who are unable to pay back the debt, the central bank governor was quoted as saying in remarks published on Saturday.
June 9, 2012 10:25 -
Saudi cuts oil output in may to 9.8 million barrels per day
Top oil exporter Saudi Arabia pumped 9.8 million barrels per day (bpd) of crude oil in May, cutting output by 300,000 bpd from the month before, an industry source said on Saturday.
June 9, 2012 10:22 -
Saudi Arabia economic growth slows a bit
Saudi Arabia's gross domestic product, adjusted for inflation, grew 5.94 percent from a year earlier in the first quarter of this year, the government's statistics department said on Wednesday.
June 6, 2012 7:08
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Saudi Telecom appoints Khaled al-Ghoneim as new group CEO
Saudi Telecom Co, the Gulf's No.1 telecoms operator, has appointed Khaled al-Ghoneim as group executive, the former monopoly said on Wednesday.
June 6, 2012 7:06 -
Qatar telecom gains control of Iraqi Asiacell for $1.5 billion
Qtel to up stake in Iraq's No.2 operator to 60 percent; MerchantBridge, Farouk Group are the sellers
June 6, 2012 12:08 -
Dubai JAFZA to raise $1.85 billion for redemption
The source, who declined to be named ahead of any official announcement, said JAFZA aimed to raise $650 million from the new sukuk and $1.2 billion from the Islamic facility.
June 6, 2012 12:08
