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HuaweiDUBAI - Credit Suisse began coverage of Oman-based contractor Galfar Engineering with an ‘underperform’ rating, saying it was cautious on the firm due to its high geographical concentration and low visibility for backlog growth.
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JEDDAH — The technological infrastructure in Saudi Arabia has grown in line with global standards, but the related dissemination of information has room for further growth and development, according to Basil M. Al Ghalayani, founder and Chief Executive Officer of BMG Financial Advisors.
DUBAI — Fitch Ratings on Thursday downgraded the long-term issuer default ratings of seven UAE banks, citing what it sees as a diminished ability of UAE federal authorities and the Dubai government to continue supporting 
these groups.
DUBAI — SAP AG has announced the implementation of a new retail software solution for Al Batha Group’s new electronics retail venture — E-City.
DUBAI — Credit Suisse has raised the target prices of six UAE banks and upgraded the Dubai Islamic Bank and the National Bank of Abu Dhabi to ‘neutral’ from ‘underperform,’ citing the banks’ share prices have risen as investors are increasingly getting confident about their ability to recover from the 
liquidity crisis.
DUBAI — Dubai Holding will pay off Sama Dubai’s three-year $300 million loan facility which matures on September 27, it said 
on Wednesday.
DUBAI — European cosmetics and perfume maker Perfumes Y Diseno, said its Middle East unit, PYD Middle East Distribution FZCO, is investing an initial Dh11 million to set up headquarters at the Dubai 
Airport Freezone
DUBAI— The prospects of an early economic recovery in the GCC have brightened, with oil prices surging significantly higher than the $35-40 per barrel budgeted by member countries for 2009, a Saudi investment 
company said.
DUBAI — Cayman Islands-based wealth management company Mayfair Wealth Management is extending the subscription deadline for its $50 million Shariah-compliant distressed property fund, which seeks to acquire cheap properties in 
the UAE.
DUBAI — UAE shares are expected to open higher today due to pent-up buying, as investors trek back to markets after a five-day break and test new resistance levels.