|
Energy & Utilities
|
Bush to ask Saudis to boost output
8 May 2008 at 3:55am
President George W. Bush will ask Saudi Arabia to increase oil production when he visits Riyadh next week, reported Bloomberg. Bush asked the Saudis to increase oil production when he last visited Saudi Arabia in January. Oil prices have climbed 31% since that appeal.
UAE says it made rain
7 May 2008 at 10:54pm
Cloud-seeding experiments by the UAE have succeeded in triggering thunderstorms and rain, reported Gulf News. Clouds moving into the UAE from Saudi Arabia were seeded by National Centre of Meteorology and Seismology aircraft as part of a plan to boost the emirate's agriculture and water resources.
Dewa to sell $1bn of bonds
7 May 2008 at 8:20pm
The Dubai Electricity and Water Authority (Dewa) is to sell $1bn of bonds backed by customer bills as it seeks to increase power capacity, reported Bloomberg. The utility has said it intends to increase generating capacity to 9,500 megawatts by 2010 from about 5,000 megawatts. Dewa's floating-rate notes due in 2036 are part of a $4bn borrowing program.
Saudi oil revenues to hit $260bn in '08
6 May 2008 at 11:44pm
Saudi Arabia’s oil revenue is expected to reach $260bn this year, or nearly $70m per day, reported Khaleej Times citing a study by Jadwa Investment. During the 1990s, the kingdom's average revenue was $43bn per year, the report said. Total exports are now projected at $290bn, compared with just $39bn in 1998.
Oil nears $123 on $200 oil prediction
6 May 2008 at 8:15pm
Oil futures jumped to a new record near $123 a barrel Tuesday, boosted by a new Goldman Sachs prediction that oil prices could rise to $150 to $200 within two years, reported AP. Light, sweet crude for June delivery jumped to a new record of $122.73 a barrel before retreating to settle up $1.87 at a record $121.84 on the New York Mercantile Exchange.
|
Moody's says Lebanon's B3 rating already encapsulates severe political turmoil
9 May 2008 at 8:20am
Qatar: Real Estate Reform
9 May 2008 at 8:14am
Bahrain: Cash Flowing Freely
9 May 2008 at 7:17am
Kuwait: Central Bank Urges Action
9 May 2008 at 7:14am
Egypt Central Bank Raises Interest Rates By 50 Basis Points
9 May 2008 at 1:40am
Economic woes stoke political standoff
8 May 2008 at 11:45pm
Egypt's Inflation Rises To 16.4% Year To April
8 May 2008 at 5:58am
Abdulrahman Al Saleh, Executive Director, Business Support and Services for D...
7 May 2008 at 11:56pm
Alexander McNabb, Group Account Director at Spot-on PR, discusses VAT in the ...
7 May 2008 at 11:56pm
Kuwait facing 'national challenge'
7 May 2008 at 9:55pm
High inflation in Kuwait a national challenge: governor
7 May 2008 at 4:42am
Governor of Central Bank of Kuwait calls for stemming inflation
7 May 2008 at 3:51am
Shamil Bank launches Central and Eastern European Real Estate Fund
6 May 2008 at 11:14pm
Saudi bank curbs have no effect on lending
6 May 2008 at 8:59pm
Saudi oil revenues expected to reach $260b this year
6 May 2008 at 8:47pm
|
|
|
Economy
|
GCC single currency unlikely by 2010
8 May 2008 at 4:06am
GCC countries are unlikely to form a single currency by 2010 as planned, making it more likely that some of these countries may end their currency pegs to the dollar, Gabriel Stein, an economist at Lombard Street Research told Bloomberg. A single currency is doubtful because Gulf rulers are unwilling to give up sovereignty over monetary and fiscal policy, Stein said, but inflation will accelerate in the meantime, increasing pressure on the states to revalue their currencies.
DFM dips, ADSE gains
8 May 2008 at 3:44am
The Dubai Financial Market on Thursday lost 29.69 points, or 0.51%, to end the day on 5,829. United Foods was the day's big gainer, up 66.67%. National Cement had the day's biggest loss, down 4.35%. Meanwhile, the Abu Dhabi Securities Exchange gained 32.26 points, or 0.64%, to finish on 5,034.
FDI in UAE to hit $108bn in 2011
7 May 2008 at 9:24pm
Total foreign direct investment inflow into the UAE is expected to nearly double from $59.2bn in 2007 to $108bn in 2011, according to a report by Barclays Wealth, a part of the UK's Barclays Group. The analysis is based on semi-official data, as the UAE does not publish official FDI figures. However, based on its estimates, Barclays Wealth said the UAE's inflows are high and rising. The United Nations Conference on Trade and Development (Unctad) puts FDI inflows into the UAE at $12 billion in 2005 accounting for about 60 per cent of total inflows into the Gulf that year.
UAE stocks end mixed
7 May 2008 at 4:08am
The Dubai Financial Market on Wednesday gained 34.87 points, or 0.60%, to end the day on 5,859. Al Salam Bank was the day's big gainer, up 3.23%. Meanwhile, the Abu Dhabi Securities Exchange lost 37.36 points, or 0.74%, to finish on 5,002.
Saudi plans $5.3bn investment company
7 May 2008 at 12:31am
Saudi Arabian is setting up an SR20bn ($5.3bn) investment firm that may be open to partners, reported Arab News. The company will draw its capital from the General Investment Fund and would offer attractive opportunities in the kingdom with low risks to foreign investors.
|
Nakheel picks contractors for Jumeirah Heights
8 May 2008 at 3:52am
Dubai-based developer Nakheel has chosen two contractors to build its Jumeirah Heights development in the emirate, reported our sister company Meed. Athens-based Consolidated Contractors International Company and the local Al-Shafar General Contracting have been chosen for the contracts, both of which are estimated to be worth about Dhs1bn ($272m). The development is a self-contained community of 2,300 homes between Jumeirah Islands and Jumeirah Lake Towers.
Emaar launches Saudi lake community
8 May 2008 at 2:33am
Emaar Middle East has launched a new lakefront community development in Saudi Arabia, reported our sister company Meed. Al-Khobar Lakes will cover 4.3 square kilometres and is located near to Khobar, Dharan and Damam. The development will contain more than 2,000 homes and feature 80,000 square metres of water.
Al-Argan plans 'zero' Kuwait investment
8 May 2008 at 2:29am
Kuwaiti developer Al-Argan International Real Estate Co, whose share rose 70% this year, said it is halting investment in its home country because of over-inflated land prices and political paralysis, reported Bloomberg. Chairman Khaled al-Mashaan said the company is cutting its exposure in Kuwait to 'zero' because it is 'not a place where a person can make a feasible investment'.
Emaar opens Jakarta office
7 May 2008 at 8:54pm
Dubai-based property developer Emaar Properties has opened an office in the Indonesian capital of Jakarta. The office will lead the development of Emaar's first project in the country, the mega-tourism and mixed-use project in Lombok, and also explore new opportunities for growth, the company said in a statement.
$2.86tr worth of projects underway in region
7 May 2008 at 12:59am
A total of 3,339 projects estimated to be worth more than $2.861tr are underway in the region, according to research by database company Proleads, which monitors construction projects across the Middle East. In Saudi Arabia alone, 1,026 projects have been launched worth $1.102tr. The top 5 projects by value in the kingdom are the King Abdullah Economic City $129.976bn, Economic Cities in Northern and Eastern Regions $60bn, Prince Abdulaziz bin Mousaed Economic City in Hail $53bn, Saudi Power Network $50b, and Jizan Economic City $30bn, reported Khaleej Times.
|
|
|
Political Affairs
|
Iraq s secret war of widows deepens
BAGHDAD: Ducking bullets and dodging car bombs may be part of daily life for millions of Baghdadis but behind black veils yet another struggle is being waged -- the battle of war widows -- to keep young families alive.
Protesters block roads in Lebanon amid labour strike
BEIRUT: Protesters on Wednesday blocked roads in Lebanon, including the one leading to Beirut airport, and burned tyres to press their demands for wage increases amid a tense political situation.
Nine million Iranians illiterate
TEHRAN: Nine million Iranians cannot read or write out of a population of at least 71.5 million, a newspaper reported on Wednesday, quoting the state-run literacy organisation.
Iran MPs to challenge Khatami s "insulting" speech
TEHRAN: Hardline Iranian lawmakers plan to complain to the Intelligence Ministry about comments by moderate former President Mohammad Khatami deemed insulting to Iran s late revolutionary leader, a newspaper said on Wednesday.
Iran rules out halt to sensitive nuclear work
TEHRAN: Iran ruled out halting its disputed nuclear work on Monday, saying it would not consider any incentives offered by world powers that violated the Islamic Republic s atomic rights.
Iraq to probe for proof of Iranian meddling
BAGHDAD: Prime Minister Nuri al-Maliki is to form a panel of security ministries to weed out any evidence of Iranian interference in Iraq s affairs, a top official said on Sunday.
60 years on, Palestinian family remains divided by war
GAZA CITY: Half of the Hamduni family lives in a quiet village in northern Israel, and the other half is in the besieged Gaza Strip. Sixty years after the war that created Israel they are more divided than ever.
Lebanon s martyr past lives on
BEIRUT: Billboards of dead politicians and fighters line Beirut s streets in a stark reminder that the concept of martyrdom still pervades a Lebanon rife with sectarian loyalties.
Hezbollah training Iraqi fighters: Report
WASHINGTON: Fighters from the Lebanon-based pro-Iranian Hezbollah group have been training Iraqi militia members at a camp near Tehran, The New York Times reported Monday.
Four US marines killed in Iraq blast
BAGHDAD: Four US marines were killed in a mine attack in the Anbar province in western Iraq in one of the biggest attacks against the troops in the Sunni region in months, the American military said on Sunday.
|
|
|
Opinion & Region Specific
|
Audio: What Happens the Day After Olmert Quits?
9 May 2008 at 9:15am
Audio: Is Olmert Hyping 'Breakthrough' in Negotiations in...
9 May 2008 at 8:51am
Audio: Parshat Emor
9 May 2008 at 8:44am
Thousands at Homesh; Dozens Attempt to Rebuild Sa-Nur
9 May 2008 at 3:23am
Some 150 people made their way in the middle of the night to establish a presence at the Disengagement-town of Sa-Nur.
Arab Civil War on Israel's Border: Hizbullah Seizes West Beirut
9 May 2008 at 2:28am
Civil war has returned to Lebanon and Hizbullah seems to be winning, having seized west Beirut.
Protests in South Hevron Hills
8 May 2008 at 11:51pm
Dozens of Jews protested Friday morning at the "sheep junction" in the Southern Hevron Hills, another key roadblock Israel has promised to remove.
PM Olmert Suspected of Accepting Cash Bribes
8 May 2008 at 2:54pm
Gag order lifted: PM Olmert is under police investigation for accepting cash bribes from wealthy cronies, including an American businessman.
Galilee Arabs in Anti-Israel Riot over Independence Day Picnic
8 May 2008 at 1:40pm
Following a fiercely anti-Israel rally in the Lower Galilee, hundreds of Arabs clashed violently with a group of Jews celebrating Independence Day.
Celebrating the Pioneering Spirit on Israel's 60th Birthday
8 May 2008 at 12:09pm
Activists celebrated Independence Day with special events in the pioneering communities of Judea and Samaria. Mevaseret Adumim also joined in.
Italy Honors Israel in Turin Book Fair, Ignores Howls of Protest
8 May 2008 at 7:21am
Despite leftist and Muslim opposition, Israel's stand was swamped by hundreds of people, some holding a banner that read: "I feel Jewish today."
|
Man returns home after emerging from coma
He smiled and his eyes blinked in response to people bidding him goodbye at Dubai International Airport last Tuesday.
Dubai Police air wing flies four rescue missions in two busy days
The police helicopter rescue team was called out several times in the past two days to rescue people stranded in the desert and help accident victims.
Woman injured in Al Karama gas cylinder blast
Police said the explosion which rattled nearby buildings was due to a gas leak in an apartment in the new Al Makati Building.
Dubai man treks to North Pole for charity
No amount of time at Ski Dubai could prepare an Indian who was brought up in Dubai for the freezing conditions at the North Pole, where he has just completed a 100km long trek.
Cyclone renders Myanmar expat's family homeless
A Myanmar man in the UAE has lost his home, and his wife and two young daughters have been rendered homeless, after the deadly cyclone struck the southeast Asian country last weekend.
Jury begins evaluating film entries
The jury committee for the Documentary Film Competition titled "Document your talent, get inspired by your homeland" began evaluating more than 100 entries from around the world on Friday.
Private pre-marriage tests not acceptable
The Ministry of Health has refused to accept a number of pre-marriage medical tests conducted at private medical centres here and announced that only tests conducted at listed government medical centres will be recognised.
Making a meal of monthly system
Within the nooks and crannies of the capital are a variety of restaurants to satisfy any craving and many Indian and Pakistani outlets offer discounts to regular customers.
Luxurious cruise ship Crystal Symphony calls at Port Zayed
A six-star cruise ship carrying 800 tourists of 25 nationalities berthed at Port Zayed on Friday.
Sailing high
As the mercury rises, residents head for the air and sea to cool off.
Guide to a different world up there
If you would like to observe Venus, Jupiter and Saturn in the dark skies with your naked eyes, this month is the best time, according to Sakher Abdullah A. Saif, head of the Amateur Astronomy League.
Dubai school plans to save on energy costs
Farnek Avireal estimates JESS will reduce its energy consumption by up to 700,000 kilowatt hours, reduce CO2 emissions by up to 300,000 kg and save more than Dh300,000 a year.
Lebanese expats appalled by violence gripping Beirut
Grim, disappointing and appalling is how Lebanese expatriates describe the political unrest that has gripped their country.
Car plate No 9 expected to set record at police auction
Car plate No 9, the fifth single-digit number in category 5 from Abu Dhabi Police, will go under the hammer today and is expected to fetch more than plate No 6 which was sold for Dh15.3 million last month, organisers said.
Driving into details before buying a car
Buying a car in the UAE is a simple process. For expatriates there are a few pieces of vital paperwork that need to be filed.
|
|
