Dubai Islamic Banks Shift Focus.
Dubai's property boom has under-pinned the growth of the
Islamic finance sector in the UAE. But as prices fall, the banks are
expanding their retail services and considering fresh areas of . . .
Some GCC Projects Delayed.
In its GCC investment outlook, Securities and Investment Co. (SICO)
says GCC countries had a significant pipeline of investments, worth $2.2
tn at end-September. With its report released on Nov. 26 . . .
Good GME Governance Is A Must.
Most parts of the GME have been among the fastest-growing economic
regions in the world. And, while it has not escaped the effects of the
global slow-down, the recent business growth and foreign . . .
The Saudi Stock Market Keeps Falling.
In the week to Nov. 27, the Saudi stock market suffered its deepest
fall as uncertainty, speculation and lack of transparency were cited as
the main reasons for the plunge. The Tadawul All-Share . . .
GCC Petroleum Producers Continue Spending, But More
Warily.
A deep drop in oil prices has sapped the confidence of GCC
petroleum producer states as even top oil exporter Saudi Arabia faces
the prospect of a financial deficit in 2009. But they are still . . .
GCC Banks Have To Adjust To The Global Order; Islamic
Banking's Viability Questioned.
*** Iran's President Ahmadi-Nejad On Nov. 29 Called The
Western Financial System Bankrupt And The UNSC Order Illegitimate, Thus
Following Imam Khomeini's Directive That The Shi'ite
Theocracy Will . . .
Qatar Moves Petrochemicals JVs.
Despite a sharp drop in global prices and demand for plastics and
textiles, the state-owned Qatar Petroleum (QP) is moving ahead with
construction of two petrochemicals complexes. Three groups . . .
SABIC & ExxonMobil In Rubber Deal.
Saudi Basic Industries Corp (SABIC) and ExxonMobil Chemical have
signed a heads of agreement to produce 400,000 t/y of synthetic rubber
products at their JV plants at Jubail and Yanbu'. This . . .
Saudi Aramco Upsteam & Downstream Expansions Proceed.
The state-owned Saudi Aramco is embarked on a study on boosting
production at the Manifa development from a planned 900,000 b/d target
to 1.2m b/d, making this its second largest oilfield, while . . .
USA Sees Wealth & Political Power Shifting From West To
East.
A new report - "Global Trends 2025, A Transformed World"
- from the US National Intelligence Council (NIC) concludes that US
dominance in the fields of economy, military and politics will . . .
Kuwait To Host Arab Economic Summit.
Kuwait, the third wealthiest member of the GCC next to Saudi Arabia
and the UAE (mainly the emirate of Abu Dhabi), is to host an Arab
Economic, Developmental and Social Summit on Jan. 19-20. . . .
The GCC Is Contributing To Global Economic Solution.
*** Iran's Economy Keeps Imploding As Theocrats In Charge Have
No Idea What They Should Do Other Than Pursuing Tehran's Nuke &
Regional Ambitions Which Are Getting More Expensive And More . . .
The Saudi Case.
The BMG Saudi Index fell 11.7% or 36.4 points to 273.74. The total
market turn-over fell 40.3% to SR10.7 bn ($2.8 bn) versus SR17.9 bn
($4.8 bn) in the previous week, whereas the total number of . . .
Dubai Leader In Cash Probe - Towards Better Corporate
Governance.
The FT on Nov. 12, 2008, said Muhammad Khalfan bin Kharbash, a
senior member of Dubai's business and political elite, had been
caught up in an investigation into financial irregularities in . . .
Dubai Property Market Hit.
With the global credit crunch hitting Dubai's property market,
the emirate's largest private property developer Damac Holding on
Nov. 11 said it was cutting 200 jobs, or 2.5% of its work-force. . . .
Middle East/N. Africa - A Cultural Change Prompted By The
World's Financial Crisis.
*** Algerian MPs On Nov. 12 Approved The Lifting Of Presidential
Term Limits, A Move Seen By Opposition Parties As Aimed At Letting Pres.
Abdelaziz Bouteflika Stay In Office For Life - As Assad Of . . .
Abu Dhabi - Low Oil Price Should Not Deter Output Growth.
The UAE Energy Minister Muhammad bin Dha'en al-Hamili of Abu
Dhabi says this emirate will continue its investment to boost its crude
oil and gas production capacities despite the slide in crude oil . . .
Abu Dhabi-UK Clean Energy Venture.
Britain and an Abu Dhabi renewable energy company known as Masdar
on Nov. 3 sign an MoU to cooperate on clean energy technologies. The
accord was announced by British PM Gordon Brown, who was then . . .
Abu Dhabi To Lead Local & Overseas GCC Investments.
Abu Dhabi and the other GCC states are expected to speed up some
key expansion projects at home, despite the global economic crisis, as
they sit on windfall oil revenues and are taking advantage of . . .
The Importance Of Abu Dhabi To The Global Economy &
Mansour's Role.
In his early 30s, Shaikh Mansour bin Zayed, is one of the
exceptionally bright sons of the late Shaikh Zayed ibn Sultan al-Nahyan
- the ruler of Abu Dhabi and the founding president of . . .
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