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HuaweiABU DHABI - A consortium of GE Oil and Gas and ABB has won two contracts worth over $80 million to supply compressors, electrical systems and services to the Abu Dhabi Company for Onshore Oil Operations, or ADCO.
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JEDDAH — The Islamic Development Bank, or IDB, has launched its business forum called ‘Thiqah.’
DUBAI — Dubai property developer Memon Investments, a unit of Memon Group of Companies, is going full steam with the construction of its “green buildings” consisting of five new projects within Jumeirah Village worth Dh1.3 billon.
MANAMA — The Central Bank of Bahrain, or CBB, has welcomed a new global vote of confidence for Bahrain’s economic performance and management of the domestic economy.
DUBAI — Gulf Sovereign Wealth Funds, or SWFs, should use their wealth during slow economic times to spur growth and maintain funding of critical strategic investments, financial experts said.
DUBAI — Global Investment House, or GIH, has cut its price target for Dubai-based Mashreq Bank, citing the impact of the economic downturn and its high exposure to retail loans.
DUBAI - Emirates Telecommunications Corporation, the United Arab Emirates’ biggest phone company, said the global economic crisis is creating acquisition opportunities and it is “still” interested in the Iranian market.
DUBAI - The Dubai Competitiveness Council, or DCC, is hosting a series of executive roundtables on ‘Clusters and Dubai’s Competitiveness’
 from June 1 to 2.
DUBAI - DP World, the world’s fourth-largest container port operator, handled 10 per cent less cargo during the first four months of this year than it did in the same period a year ago, due to a contraction in maritime trade amid the global recession, the company said on Thursday.
DUBAI - UAE shares on Thursday capped the week on a positive note, with stable oil prices propping up index heavyweights in both Dubai and Abu Dhabi.