DUBAI - Standard Chartered Bank on Monday revised lower its economic growth forecast for the UAE from 0.5 per cent growth to 0.5 per cent contraction in 2009 because of weak real estate sector and slower global trade.
DUBAI - Standard Chartered Bank on Monday revised lower its economic growth forecast for the UAE from 0.5 per cent growth to 0.5 per cent contraction in 2009 because of weak real estate sector and slower global trade.
MANAMA - Although Bahrain didn’t experience a decline in its macro-economic aggregates, the market environment prevailing over the last several months has contributed to an overall slow-down in the property market, an expert here has highlighted.
ABU DHABI - The Abu Dhabi National Energy Company, or TAQA, will “continue its buying spree’ and is in talks with three companies in the mid- and downstream sector to meet its target of investing $1 billion in the fourth-quarter, its chief executive said on Monday.
DUBAI - Dubai will be able to service government debt and that of state-linked firms this year, a member of the Gulf emirate’s financial crisis committee said on Monday.
DUBAI — Cityscape Dubai 2009, which opens today for its eighth year, is more than the nation’s biggest trade fair for the property industry.
DUBAI — UAE shares dropped, with Abu Dhabi’s index falling the most in four days, ahead of the third-quarter earnings season and after US unemployment climbed to a 26-year high.
Abu Dhabi — Abu Dhabi based issuers have raised $11.6 billion from the public international debt capital markets in 2009 to date according Jeremy Parrish, Chief Executive of Standard Chartered Bank’s Abu Dhabi and Al Ain division.
ABU DHABI — Abu Dhabi Commercial Bank, or ADCB, the second-largest lender by total assets in the capital emirate, said that it has agreed to issue $1 billion of bonds as the initial tranche of its $7.5 billion global medium term note programme.
DUBAI — Citizen Watch Company Ltd., one of the world’s largest makers of wristwatches, on Saturday opened its first dedicated showroom in the UAE as part of its expansion plan in the Middle East.
DUBAI — National Fire Fighting Manufacturing FZCO, or NAFFCO, a leading fire fighting equipment manufacturing company in the Middle East, announced that construction on its one million square feet central production facility in Jafza is progressing on schedule.