By John Irish DUBAI, Aug 27 (Reuters) – Three Gulf Arab banks will launch a specialised bank to finance infrastructure projects, an agriculture firm and a hospitality fund as rapid growth in the Middle East and North Africa lures billions in new investment. The consortium aims to set up three new Islamic financial […]
Those who dislike US Iraq subsidies should look at the Israel dole Stephen Glain Last Updated: August 12. 2008 8:39PM UAE / August 12. 2008 4:39PM GMT This week, Congress indulged in some populist Arab-bashing when it was revealed that high oil prices could earn the Iraq government a budget surplus of US$50 billion (Dh183.6bn) […]
C Report Assesses Progress towards GCC Monetary Union The Gate. 19 August 2008 Report identifies key policy issues to be addressed before GMU launch The Dubai International Financial Centre (DIFC) today released a report assessing the progress being made by GCC countries to achieve the convergence criteria […]
UAE cities at odds over lifestyle, ties to Iran http://tinyurl.com/5a3ty6 DUBAI, United Arab Emirates: Abu Dhabi and Dubai have been rivals for decades, one building world-class museums as fast as the other has been throwing up skyscrapers. But the healthy competition that’s helped transform them into two of the Middle East’s most vibrant […]
http://tinyurl.com/5edt9x Dipping oil prices shift focus from alterantive energy sources By Leah Bower, Special to Gulf News Published: August 11, 2008, 23:22 Well finally we have some good news on the oil front. Rather than a one day drop, quickly followed by crude prices resuming their upward march, we saw, prior to Russia-Georgia’s saga, […]
Why not just let the Abu Dhabi Police get access to the airport, the homeland security and Interpol? Why not just hand them over all the stratgic info, and save them the time for hiring spies, and agents? Is this what Archibiship Rowen Williams had in mind when he wanted Shariah as part of the […]
FAITH UNDER FIRE Saudis to Christians: Get out! Those accused of worshipping in homes ordered deported Posted: August 04, 2008 10:13 pm Eastern © 2008 WorldNetDaily King Abdullah More than a dozen Christians in Saudi Arabia who were accused by government officials of worshipping in their homes have been ordered deported. According to a report from […]
Journal Illustration by Nicholas Weir By Margaret Coker THE WALL STREET JOURNAL Published: August 1, 2008 ABU DHABI, United Arab Emirates — With oil near record highs, the Persian Gulf is awash in cash, stimulating a return to some very conspicuous consumption. Ferrari SpA said that sales in the Middle East leapt 32 […]
Emirates profits to tumble Anthony Richardson Last Updated: August 02. 2008 8:39PM UAE / GMT Emirates’ Airbus A380 touched down in New York on Friday, marking the first commercial arrival of the giant, double-decker passenger plane on US soil. Chip East / Reuters NEW YORK // Tim Clark, the president of Emirates airline, says he […]
GE partners with Abu Dhabi firm for a $8 billion finance fund Bloomberg News Published: July 22, 2008 Listen to Article http://www.iht.com/articles/2008/07/22/business/22abu.php General Electric, seeking higher returns overseas, and Abu Dhabi’s Mubadala Development formed a partnership Tuesday to invest in emerging markets in the Middle East and Africa, led by an $8 billion […]
By Robin Wigglesworth Published: July 15 2008 03:00 | Last updated: July 15 2008 03:00 UBS has appointed Per E. Larsson as chief executive of its Middle East and North Africa operations as the world’s biggest wealth manager aims to expand in the booming region. Mr Larsson was chief executive of Sweden’s OMX exchange group […]
Will Gulf’s white knights end up in a financial black hole? Dr Mohammed Ramady Barclays Bank raised about $9bn in new capital from Qatari and Asian investors. Jaime Puebla / The National The queue seems longer now to the Arabian Gulf. First came Citigroup, the world’s largest bank, raising US$7.5 billion (Dh27.5bn) from the […]
Middle East Airlines Just Keep Spending Most airlines are too financially strapped these days to consider splashing out billions on new planes. But Middle Eastern airlines are not like most others. In separate deals announced on July 14 at the Farnborough airshow, Saudi Arabian Airlines, Abu Dhabi’s Etihad, and Emirates startup FlyDubai announced a jaw-dropping […]
photo courtesy of ameinfo RTTNews) – Rolls-Royce Group Plc (RR.L: News, Chart, Quote ) said it formed a new joint venture company with Mubadala Development Co. to serve Middle East aviation services market. Mubadala Development Co. is a business development and investment company located in Abu Dhabi. Rolls-Royce said that the new joint venture will […]
hat tip-The Media Line.Org The Farnborough International Airshow was the scene of yet another huge aircraft-order announcement from a Gulf airline on Monday, with the Abu Dhabi-based Etihad saying it had placed orders for 100 new aircraft in deals worth some $20 billion. The contracts were split between Airbus and Boeing. The new airline […]
Al-Hilal Bank becomes the UAE’s eighth Islamic bank. Says it has great plans to dominate the market, planning to launch Takaful arm. The bank plans to turn in profits by next year and is also in the midst of setting up a wholly-owned Takaful subsidiary, Al Hilal Takaful. The UAE saw the eighth Islamic bank […]
Barwa buys Swiss hotels
On June 17, 2008 · In Abu Dhabi, Islam, Islamic Economics, Sharia Compliant, Shariah Finance, Switzerland
Sandra Lane Last Updated: June 16. 2008 11:38PM UAE / June 16. 2008 7:38PM GMT In its statement yesterday, Barwa said that “the investment came to strengthen the firm’s strategic expansion in Europe”, but did not provide a value for the deal. iStockphoto Barwa, the Doha-based property investor and developer, said yesterday that it had […]
Visit visa to the UAE will cost Dh500 from August 09 June 2008 http://www.zawya.com/printstory.cfm?storyid=ZAWYA20080609042729&l=042700080609 Abu Dhabi: Visit visas to the UAE will cost Dh500 from August 1 following the revamp of the structure and charges of entry documents in line with a cabinet decision, a senior official said. New types of visas have […]
http://www.gulfnews.com/business/Banking_and_Finance/10219551.html Banking and Finance By Mark Kleinman and Katherine Griffiths, The Telegraph Group Limited, London 2008. Published: June 08, 2008, 23:39 Executives at Barclays, Britain’s third-largest bank, are in advanced talks with overseas government-backed funds to secure a capital injection of more than £3 billion. The lender has stepped up talks with […]
First Global wins consultancy bid for Abu Dhabi Commercial Bank First Global, a leading Sri Lanka-based Islamic investments and financial solutions provider has won a bid to drive Abu Dhabi Commercial Bank’s (ADCB) venture into Islamic banking. The Bank plans to launch its Islamic Banking Services ‘MEETHAQ’ in the beginning of the 4th quarter […]
Islamic Banking Growing at 35% P.K. Abdul Ghafour, Arab News JEDDAH, 2 June 2008 — Islamic banking is growing at an annual rate of 35 percent worldwide with assets of Islamic financial institutions amounting to a staggering $600 billion last year, Saleh Kamil, a prominent Saudi businessman and a pioneer in the field, […]
Hatoon Al-Fassi on women in Arabia during the pre-Islamic times (by Andrew Hammond for Reuters: RIYADH (Reuters) – When clerics, ministers and businessmen gathered at a forum in Riyadh last month to discuss women in the workplace, there were no women in sight. Typically for Saudi Arabia, the women who took part were seated in a […]
Khaleej Times Online http://www.khaleejtimes.com/DisplayArticleNew.asp?xfile=data/business/2008/April/business_April778.xml§ion=business&col= (example of sukuk from a malaysian source for demonstration purposes) Pakistan appoints advisers for first domestic sukuk (Reuters) 25 April 2008 KARACHI – Pakistan has appointed Dubai Islamic Bank and Standard Chartered Bank Pakistan to manage its first local currency Islamic bond, or sukuk, to be issued this fiscal year, […]
Hat tip-Margo I. Saudi prince gives Cambridge University £8m for Islamic studies centre By Julie Henry, Education Correspondent Last Updated: 12:32am BST 06/04/2008 The Sunday Telegraph (London) http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/04/06/nprince106.xml Cambridge University has been given £8 million by a Saudi Arabian prince to establish an Islamic studies centre. Prince Alwaleed Bin Talal, ranked in […]
NewsMiddle East and India: The new road to riches Author: Sophie Evans http://www.legalweek.com/Articles/1111736/Middle+East+and+India+The+new+road+to+riches.html Published: 03/04/2008 02:30 Abu Dhabi has taken huge strides towards eclipsing Dubai in the headlines, with news of big-ticket projects planned for the UAE’s capital. Law firms have responded with a string of recent office launches. Sophie Evans explores the Abu Dhabi-Dubai […]
http://www.humanevents.com/article.php?print=yes&id=25790 HUMAN EVENTS America for Sale Dr. Rachel Ehrenfeld and Alyssa A. Lappen Posted 04/01/2008 ET Updated 04/01/2008 ET As the U.S. and Western markets plummet and the U.S. dollar continues its free fall, sovereign wealth funds (SWF) gobble up prime financial institutions, industries and real estate in the U.S. and the West. Given concerns […]
2008/03/19 Saudi Arabia’s Ministry of Silly Sharia Laws Sometimes when you read about some of the Sharia rulings coming out of Saudi Arabia it seems like something out of a Monty Python movie. Like that ruling that banned Barbie Dolls because they were part of a Zionist plot to bring promiscuity to Saudi Arabia. The […]
Securities & investment banking www.financialnews-us.com Abu Dhabi/SWF code 18 Mar 2008 Abu Dhabi outlines investment code for sovereign fund The Wall Street Journal Abu Dhabi, home to the world’s largest sovereign wealth fund, has pledged it will not use its money to further its political aims, amid a backlash against overseas investments by government funds. In a three-page […]
Arab financial offensive on US companies concerns Analysts By YAAKOV LAPPIN http://www.jpost. com/servlet/ Satellite? pagename= JPost/JPArticle/ ShowFull& ci d=1205420704582> &cid=1205420704582 As US shares continue to fall and the American economy reverberates with fears that a subprime-mortgage- driven recession has begun, affluent Gulf states are seizing the opportunity to increase their control of financial companies and […]
Cameras rolling at Abu Dhabi film school Leni Riefenstahl-propaganda for the enemy. NY Film Academy By Jolanta Chudy now in the same ranks Budding students of cinema can now enroll for study in an unlikely new destination for film — the capital of the United Arab Emirates. The New York Film Academy in […]
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