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HuaweiDUBAI — The UAE, Kuwait, and Saudi Arabia will be able to balance their 2009 budgets even if oil prices stay at $45 per a barrel, while Qatar, Bahrain and Oman will require higher prices —above $60 per barrel — the latest research by Kuwait Financial Centre (Markaz) said.
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DUBAI — Oman Insurance Company (PSC) posted a strong 41per cent increase in the gross written premium amounting to Dh2.14 Billion as compared to 2007. Oman Insurance Company (PSC) also achieved a net profit of Dh250 million for the year ended 31 December 2008. This includes Dh220 million from technical operations which is an increase of 26 percent over 2007.
DUBAI — Dubai Gold & Commodities Exchange (DGCX) announced on Wednesday that the launch of its Plastics Futures contract is to be postponed.
DUBAI — The Dubai Chamber of Commerce and Industry’s Centre for Responsible Business (CRB) in partnership with the Emirates Green Building Council Middle East organised a seminar and networking event called “Green Buildings — Fact or Fiction?” at its premises on Thursday.
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DUBAI — Dubai Group, an investment arm of Dubai government, will focus more on the Middle East and North Africa (MENA) region, said Group CEO Thomas S. Volpe.
ABU DHABI — The banking circles by and large welcomed the decision of the Abu Dhabi Government to inject Dh16 billion into five banks headquartered in the emirate, but said only future developments would determine its potential to revive the economy.
ABU DHABI — Abu Dhabi’s Dh16 billion cash injection to keep it banks liquid would ease pressure on the banking sector facing tight liquidity conditions, encouraging them to resume lending, says economists and financial analysts.
DUBAI — Namibia is keen to strengthen trade and economic relations with the Gulf countries especially the UAE, said Hage Geingob, Namibia Minister of Trade and Industry.
ABU DHABI — Abu Dhabi Commercial Bank (ADCB) has posted a net profit of Dh1.36 billion for the year ended on December 31, 2008, down from Dh1.98 billion in the previous year as the bank made provisions of Dh1.296 billion to cope with the financial crunch and its impact on corporate earnings.