DUBAI - Losses by Gulf sovereign funds in the global financial turmoil is expected to reach to $450 billion, which is equivalent to the region’s oil income for a whole year, a top executive of Deutsche Bank in the Middle East said.
DUBAI - Losses by Gulf sovereign funds in the global financial turmoil is expected to reach to $450 billion, which is equivalent to the region’s oil income for a whole year, a top executive of Deutsche Bank in the Middle East said.
DUBAI - Property and banking shares dragged UAE stocks to a new four-year low on Monday with investors still fretting over dire economic prospects in 2009.
ABU DHABI - Delta Partners, a specialised telecommunications private equity firm operating in high growth markets, worked with ADIC MENA Partners in negotiating the OrasInvest deal, announced in November.
DUBAI - Hilton Hotels Corporation (HHC) has signed a management agreement with Diyar Al Bahrain to open the first Conrad hotel in the Kingdom of Bahrain in 2011.
DUBAI - Global Investment House KSCC, Kuwait’s biggest investment bank, declined to the lowest in more than four years after appointing HSBC Holdings Plc to help renegotiate loans owed to foreign lenders, sparking concern of a default.
ABU DHABI - The corporate firms will prepare and publish their financial performance reports not only in Arabic language but also in English to further improve corporate governance, transparency and disclosures.
DUBAI - Various development plans for Jeddah over the next five years were showcased at the annual International Real Estate Finance (IREF) 2008 conference held in London recently.
ABU DHABI - Abu Dhabi International Airport registered a growth of 27.4 per cent in passenger traffic in November over the comparable period, while year-to-date (YTD) growth remained strong at 32.3 per cent.
DUBAI - Nakheel — the government-owned developer of Dubai’s palm-shaped islands — has adequate funds for its projects and there is no plan for further layoffs, said its Chief Executive Chris O’Donnell here on Monday.
SHARJAH - Air Arabia, the first and largest low-cost carrier (LCC) in the Middle East and North Africa, announced today that it has entered into a partnership with Emirates India International Exchange, offering customers another convenient and easy cash payment option.