Mena Report back issues from July 2008:
Al Habtoor Leighton Group awarded Olgana and Hilliana Towers in Dubai.(Brief article)
Jul 02, 2008 ... The Al Habtoor Leighton Group, through the Dubai division of Al Habtoor Engineering, has been awarded an AED 740 million contract for the construction of Olgana and Hilliana Towers in Dubai for Abyaar Real Estate Development. The project forms part of Abyaar's prestigious Acacia ...
Bonyan Group sells out AED 4 billion 'Sama Al Jadaf' community project.
Jul 02, 2008 ... Bonyan International Investment Group, one of the leading real estate companies in Dubai, announced that it has sold out its AED 4 billion 'Sama Al Jadaf' community project, a 135-plot master development located in the Al Jadaf area in Dubai. The success of the project is part of the ...
Saudi Arabian investment in the UAE remains strong, says Durar Properties.
Jul 02, 2008 ... Leading UAE-based property development company, Durar ('jewels' in Arabic) Properties, unveiled its newest residential project in Dubai today, at a gala event held at the spectacular Mina A' Salam last evening. Durar 1, a twin-building development, is a joint venture between ...
Alpha Bank announces the sale of a 4% stake to Qatari private investors.
Jul 02, 2008 ... Greece's Alpha Bank announced the sale of treasury shares, amounting to 4% of its share capital, for a total consideration of Euro 296 million, to Paramount Services Holding Limited, a company representing the business interests of the "most prominent family" in Qatar. The bank said in a ...
Al Habtoor Leighton Group awarded Olgana and Hilliana Towers in Dubai.(contract between Al Habtoor Engineering Enterprises Company Private Ltd. and Abyaar Real Estate Development)(Brief article)
Jul 02, 2008 ... Summary: The Al Habtoor Leighton Group, through the Dubai division of Al Habtoor Engineering, has been awarded an AED 740 million contract for the construction of Olgana and Hilliana Towers in Dubai for Abyaar Real Estate Development. The Al Habtoor Leighton Group, through the ...
Saudi Arabian investment in the UAE remains strong, says Durar Properties.
Jul 02, 2008 ... Summary: Leading UAE-based Developer Presents Durar 1 eCo a Joint Venture with Abu Dhabi-based Ali and Sons and Leading Saudi Conglomerates Leading UAE-based property development company, Durar (eCyjewelseCO in Arabic) Properties, unveiled its newest residential project in Dubai ...
Alpha Bank announces the sale of a 4% stake to Qatari private investors.
Jul 02, 2008 ... Summary: Greece's Alpha Bank announced the sale of treasury shares, amounting to 4% of its share capital, for a total consideration of Euro 296 million, to Paramount Services Holding Limited Greece's Alpha Bank announced the sale of treasury shares, amounting to 4% of its share ...
Global : Kuwait market registered a monthly gain of 1.35% in June-2008.
Jul 02, 2008 ... Summary: Global Investment House Co Kuwait Co KSE Monthly Performance Co July 2008-Kuwait market reported a gain of 1.35% in June-2008 as C[pounds sterling]GlobalC[yen] General Index ended the month at 395.51 points. This followed a decline of 2.31% in May-2008. Most of the sector indices ...
Arcapita announces acquisition of US$1.3 billion Singapore real estate portfolio.
Jul 03, 2008 ... Arcapita Bank B.S.C.(c), a leading international investment firm headquartered in Bahrain, and Mapletree Investments Pte Ltd, a leading Singapore based real estate company, have announced the completion of agreements to become joint venture partners in Mapletree Industrial Trust ("MIT"), a ...
Alstom signs agreement to build a 1,200 MW power plant in Saudi Arabia.
Jul 03, 2008 ... Alstom has signed a letter of intent with Saudi Arabian utility, Saudi Electricity Company (SEC), for a [euro]1.9 billion turnkey contract to build a new 1,200 MW steam power plant in Saudi Arabia. This new plant will be constructed adjacent to the existing Shoaiba power station, 100 km ...
Arcapita announces acquisition of US$1.3 billion Singapore real estate portfolio.
Jul 03, 2008 ... Summary: Arcapita Bank B.S.C.(c), a leading international investment firm headquartered in Bahrain, and Mapletree Investments Pte Ltd, a leading Singapore based real estate company, have announced the completion of agreements to become joint venture partners in Mapletree Industrial Trust ...
Alstom signs agreement to build a 1,200 MW power plant in Saudi Arabia.
Jul 03, 2008 ... Summary: Alstom has signed a letter of intent with Saudi Arabian utility, Saudi Electricity Company (SEC), for a e1/41.9 billion turnkey contract to build a new 1,200 MW steam power plant in Saudi Arabia. Alstom has signed a letter of intent with Saudi Arabian utility, Saudi ...
Gulf widens between global and regional markets.
Jul 05, 2008 ... Global market investors witnessed one of the worst environments on record in June, while MENA markets continued to highlight their own independence from the global turmoil despite some selling pressure emerging towards the end of the past month. According to a report from ...
Gulf widens between global and regional markets.
Jul 05, 2008 ... Summary: Kuwait only GCC market to withstand month-end caution across regional bourses Global market investors witnessed one of the worst environments on record in June, while MENA markets continued to highlight their own independence from the global turmoil despite some selling ...
Salaries within regional property and real estate sector to rise significantly in 2008.
Jul 06, 2008 ... Summary: Salaries within the regional property and real estate sector are set to increase significantly in 2008, according to Macdonald & Company, a leading recruitment consultancy focusing solely on the property industry. The company is currently conducting its CyMiddle East Real Estate ...
Hydra Properties completes 40 per cent of pillar work for Hydra Waves in Mexico.
Jul 06, 2008 ... Summary: The beach city of Mazatlan abuzz with the swift progress of the UAE property developerCOs grand project Hydra Properties, the leading UAE-based international property developer, today announced the completion of 40 per cent of pillar work for Hydra Waves, the acme of ...
Zamil Air Conditioners awarded SR 80 million contracts for King Abdulla University for Science and Technology.
Jul 06, 2008 ... Summary: Zamil Air Conditioners, the leading Middle East manufacturer of air conditioning systems and services and a sector business of Zamil Industrial, has been awarded multiple contracts to provide custom climate control systems for King Abdullah University of Science and Technology ...
Rubber World Industries bags AED 1.2 million contract to supply rubber insulation products for 'Motor City' project.
Jul 07, 2008 ... Rubber World Industries (RWI), the leading manufacturer of closed-cell rubber insulation 'Gulf-O-flex' in the Gulf and South-East Asia, and part of the international business conglomerate, the Memon Group of Companies, announced that it has bagged an AED 1.2 million contract to supply ...
Al Salam Bank-Bahrain reports half yearly net profit of US$40.5 million.(Financial report)(Brief article)
Jul 07, 2008 ... Al Salam Bank Bahrain announced a half-yearly net profit of BD15.3 million (US$40.5 million) for the period ended 30 June 2008. The total assets as of 30 June 2008 grew by 63% from 31 December 2007 to reach BD647 million (US$1,716 million). In a market marred by financial crisis ...
Amlak Finance half year net profit up by 155 %.(Amlak Finance PJSC)(Financial report)
Jul 07, 2008 ... Amlak Finance PJSC, the largest real estate financier in the Middle East, announced today its preliminary financial results for the half year of 2008. At the end of June 2008, Amlak's half year net profit rose to AED 269 million, an increase of 155% compared to AED 106 million in the half ...
Omani Government starts process to sell 25% stake in Omantel.
Jul 07, 2008 ... The Omani Government, acting through the Ministry of Finance, announced Monday its intention to explore the partial sale of its shareholding in Oman Telecommunications Co. S.A.O.G ("Omantel"). The Government invited the submission of expressions of interest from suitably ...
Rubber World Industries bags AED 1.2 million contract to supply rubber insulation products for ,CyMotor City,CO project.
Jul 07, 2008 ... Summary: Leading manufacturer dominates regional rubber insulation market by leveraging eco-friendly construction regulations Rubber World Industries (RWI), the leading manufacturer of closed-cell rubber insulation 'Gulf-O-flex' in the Gulf and South-East Asia, and part of the ...
Al Salam Bank-Bahrain reports half yearly net profit of US$40.5 million.(Financial report)(Brief article)
Jul 07, 2008 ... Summary: Al Salam Bank Bahrain announced a half-yearly net profit of BD15.3 million (US$40.5 million) for the period ended 30 June 2008. Al Salam Bank Bahrain announced a half-yearly net profit of BD15.3 million (US$40.5 million) for the period ended 30 June 2008. The ...
Amlak Finance half year net profit up by 155 %.(Financial report)
Jul 07, 2008 ... Summary: Al-Shaikh: Amlak to achieve 90% growth in 2008 net profit Amlak Finance PJSC, the largest real estate financier in the Middle East, announced today its preliminary financial results for the half year of 2008. At the end of June 2008, AmlakeCOs half year net profit rose ...
Omani Government starts process to sell 25% stake in Omantel.
Jul 07, 2008 ... Summary: The Omani Government, acting through the Ministry of Finance, announced Monday its intention to explore the partial sale of its shareholding in Oman Telecommunications Co. S.A.O.G (C[pounds sterling]OmantelC[yen]). The Omani Government, acting through the Ministry of ...
$33 billion Middle East seaport expansion underway.
Jul 07, 2008 ... Summary: Gulf neighbours challenge dominance of Dubai's Jebel Ali Co one of the world's biggest container ports Co with major building programmes Massive economic growth is driving major seaport expansion in the Middle East worth in excess of $33 billion to handle record volumes ...
LG Electronics wins US$38.1 million Smart City contract.
Jul 07, 2008 ... Summary: Global and regional digital leader LG Electronics has been awarded an USD 38.1 million contract from Goldcrest Properties, a division of Giga Group, to deploy its HomNet smart home technology in Goldcrest PropertiesCO Smart City project. Global and regional digital ...
Bahrain: AlBaraka Islamic Bank & First Investment Bank sign a US$30m Murabaha Facility for Al Khaleej Development Company.
Jul 08, 2008 ... The Bahrain based leading Islamic banking group, Albaraka Banking Group B.S.C (ABG) announced that its subsidiary in the Kingdom of Bahrain, Al-Baraka Islamic Bank, with the First Investment Bank completed the signing of a milestone transaction with a US$30m Murabaha facility for Al ...
EFG-Hermes to expand its Private Equity offering across the region.
Jul 08, 2008 ... Leading regional investment bank EFG-Hermes announces the recent addition of three senior executives from Goldman Sachs to the leadership team of its private equity business. These additions underline the importance of private equity as one of EFG-Hermes' core growth engines moving ...
US$ 8 billion private investments to boost Kuwait's real estate and construction industries by end of 2013.
Jul 08, 2008 ... Kuwait's real estate and construction industries are set to witness a significant boost, due to an expected USD 8 billion worth of private investments to enter the country by the end of 2013, according to latest studies. Reports have also revealed that the skyrocketing demand for ...
Nakheel and Auchan sign agreement for the creation of a joint venture in the Gulf.
Jul 08, 2008 ... Nakheel, a Dubai World company and one of the world's largest and most innovative real estate developers, and the Auchan group, the world's 13th largest food retailing group, have announced the signature of an agreement for the creation of a joint venture. The joint venture ...
Bahrain: AlBaraka Islamic Bank & First Investment Bank sign a US$30m Murabaha Facility for Al Khaleej Development Company.
Jul 08, 2008 ... Summary: The Bahrain based leading Islamic banking group, Albaraka Banking Group B.S.C (ABG) announced that its subsidiary in the Kingdom of Bahrain, Al-Baraka Islamic Bank, with the First Investment Bank completed the signing of a milestone transaction with a US$30m Murabaha facility for ...
EFG-Hermes to expand its Private Equity offering across the region.
Jul 08, 2008 ... Summary: Leading regional investment bank announces Senior Additions to its Private Equity Team Leading regional investment bank EFG-Hermes announces the recent addition of three senior executives from Goldman Sachs to the leadership team of its private equity business. These ...
US$ 8 billion private investments to boost Kuwait's real estate and construction industries by end of 2013.
Jul 08, 2008 ... Summary: Eqarat.com to leverage demand for over 100,000 private housing units in the country KuwaiteCOs real estate and construction industries are set to witness a significant boost, due to an expected USD 8 billion worth of private investments to enter the country by the end ...
Nakheel and Auchan sign agreement for the creation of a joint venture in the Gulf.
Jul 08, 2008 ... Summary: Nakheel, a Dubai World company and one of the worldCOs largest and most innovative real estate developers, and the Auchan group, the worldCOs 13th largest food retailing group, have announced the signature of an agreement for the creation of a joint venture. Nakheel, a ...
Volvo opens showroom in Sana,COa Yemen.
Jul 08, 2008 ... Summary: Deputy Minister of Industry and Trade Mr. Ali Ahmad Al-Sayyaghi inaugurated last Sunday the New Showroom for World Volvo Cars, affiliated with El-Aghil Trade Group, the sole agent for Volvo Cars in Yemen. Deputy Minister of Industry and Trade Mr. Ali Ahmad Al-Sayyaghi ...
Global Investment House: Saudi Banking Sector.
Jul 09, 2008 ... Saudi banking industry consists of 18 banks. With the total banking assets to GDP ratio (Dec. 2007) of 73% in the Kingdom, the top three banks are namely NCB, SAMBA, and Al Rajhi Bank. The three financial institutions namely Al Rajhi Bank, Bank Al Bilad, and Bank AlJazira are entirely ...
Global Investment House: MENA Fertilizer Industry.
Jul 09, 2008 ... The fertilizer production capacities in MENA (Middle East and North Africa) region during the past 7 years have increased at a CAGR of 3.5%, against the world CAGR of 2.8%, resulting in an increase in the region's share in the world's total capacities to reach 12%. Moreover, in 2007, the ...
ConocoPhillips joins ADNOC in development of Shah Gas Field.
Jul 09, 2008 ... ConocoPhillips and Abu Dhabi National Oil Company (ADNOC) have signed an Interim Agreement to develop the Shah Gas Field in Abu Dhabi. Under the Interim Agreement ConocoPhillips and ADNOC will jointly share the ongoing cost of front-end engineering and design (FEED) and project ...
Egypt: IHG announces four new hotels.
Jul 09, 2008 ... Spanning four hotels, one expansive convention centre and incorporating over 1,200 rooms, InterContinental Hotels Group (IHG) announced that Sovereign Hospitality Holdings, owned by M.A. Kharafi Group of Kuwait, has awarded IHG the exclusive management contract for Port Ghalib Resort, in ...
Global : All regional stock markets, but Kuwait declined during June 2008.
Jul 09, 2008 ... Summary: Global Investment House Co Kuwait- GCC Market Review Co for the month of June 2008- During June-08, all the regional markets declined with the sole exception of Kuwait which gained 1.4% during the month. Qatar market, which has registered highest YTD gain among all GCC markets, ...
Global Investment House: Saudi Banking Sector.
Jul 09, 2008 ... Saudi banking industry consists of 18 banks. With the total banking assets to GDP ratio (Dec. 2007) of 73% in the Kingdom, the top three banks are namely NCB, SAMBA, and Al Rajhi Bank. The three financial institutions namely Al Rajhi Bank, Bank Al Bilad, and Bank AlJazira are entirely ...
ConocoPhillips joins ADNOC in development of Shah Gas Field.
Jul 09, 2008 ... Summary: ConocoPhillips Joins Abu Dhabi National Oil Company ConocoPhillips and Abu Dhabi National Oil Company (ADNOC) have signed an Interim Agreement to develop the Shah Gas Field in Abu Dhabi. Under the Interim Agreement ConocoPhillips and ADNOC will jointly share ...
Egypt: IHG announces four new hotels.
Jul 09, 2008 ... Summary: Spanning four hotels, one expansive convention centre and incorporating over 1,200 rooms, InterContinental Hotels Group (IHG) announced that Sovereign Hospitality Holdings, owned by M.A. Kharafi Group of Kuwait, has awarded IHG the exclusive management contract for Port Ghalib ...
Middle East-based travelers to be among top three growth markets to visit Australia by 2016.
Jul 09, 2008 ... Summary: More travellers from the Middle East are expected to visit Australia in the next eight years with an expected 183 percent growth from 2006-2016, states a report from Tourism Research Australia. More travellers from the Middle East are expected to visit Australia in the ...
NBK reports net profit of US$ 661 million for the first half of 2008.(National Bank of Kuwait SAK)(Financial report)
Jul 09, 2008 ... Summary: National Bank of Kuwait (NBK), the largest Kuwaiti bank and the highest-rated in the Middle East by the leading rating agencies, reported a record net profit of USD 661.3 million (KD 175 million) during the first six months of 2008. Compared with the same period last year, ...
Property Investments offers investors up to 45 per cent ROI.
Jul 10, 2008 ... Sabban Property Investments (SPI) is offering investors 40 to 45 per cent return on investment (ROI) through its high profile inaugural project, the QR 1.2 billion 'Sabban Towers' at The Pearl - Qatar. Investors who bought during the late 2007 to early 2008 have reported high returns as a ...
DFM and NBAD sign Depository Participant Agreement.
Jul 10, 2008 ... Dubai Financial Market (DFM) announced that it has signed a Depository Participant Agreement with National Bank of Abu Dhabi (NBAD) to be the first UAE-based bank providing securities services to local and international investors in DFM. The signing ceremony was attended by Essa ...
DFM and NBAD sign Depository Participant Agreement.
Jul 10, 2008 ... Summary: Allows bank to offer full range of securities services to local and international investors Dubai Financial Market (DFM) announced that it has signed a Depository Participant Agreement with National Bank of Abu Dhabi (NBAD) to be the first UAE-based bank providing ...
Economic Zones World (EZW) completes acquisition of Gazeley Limited.
Jul 12, 2008 ... Summary: Regulatory approval confirms integration of leading logistics infrastructure businesses The acquisition of Gazeley Limited by Economic Zones World (EZW), a Dubai World company, has received European regulatory approval completing the integration of these two ...
Economic Zones World (EZW) completes acquisition of Gazeley Limited.
Jul 12, 2008 ... The acquisition of Gazeley Limited by Economic Zones World (EZW), a Dubai World company, has received European regulatory approval completing the integration of these two fast-growing logistics infrastructure businesses, as announced on 10 June 2008. EZW has acquired Gazeley ...
Bahrain Stock Exchange posting growth during H1 of 2008.
Jul 13, 2008 ... A report released by Bahrain Stock Exchange showed that Bahrain All Share Index closed at 2,859.03 points at the end of June 2008 marking a growth of 3.77% compared to its closing at the beginning of January 2008, while Dow Jones Bahrain Index and Esterad Index posted growth of 3.83% and ...
Dubai Financial Market announces first half net profit of AED 560 million, up 100%.(Financial report)
Jul 13, 2008 ... The Dubai Financial Market Company (DFM Company) announced its preliminary financial results for the first half of 2008, demonstrating consistent growth during a period of ongoing expansion. DFM Company recorded a net profit of AED 560 million from operational activities and ...
Dubai Financial Market announces first half net profit of AED 560 million, up 100%.(Financial report)
Jul 13, 2008 ... Summary: The Dubai Financial Market Company (DFM Company) announced its preliminary financial results for the first half of 2008, demonstrating consistent growth during a period of ongoing expansion. The Dubai Financial Market Company (DFM Company) announced its preliminary ...
Volkswagen Middle East hits a record sales increase in the region for first half of 2008.
Jul 13, 2008 ... Summary: The first six months of 2008 represented the most successful half year since Volkswagen Middle East was established three years ago. Year on year sales have increased by a significant margin for Volkswagen Middle East and this year is no exception. In the first half of 2008 ...
Saudi Aramco inks marketing agreement with SABIC.
Jul 13, 2008 ... Summary: Sino Saudi Aramco Company Ltd, a wholly owned subsidiary of Saudi Aramco, signed a mutual cooperation agreement with SABIC Shenzhen Trading Company Ltd, a SABIC subsidiary in the People's Republic of China. Sino Saudi Aramco Company Ltd, a wholly owned subsidiary of ...
RAK Tourism boosts hotel developments as visitor footfall expected to reach 2.5 million by 2012.
Jul 13, 2008 ... Summary: RAK Tourism, the organisation tasked to support, promote and attract tourism initiatives to Ras Al Khaimah, has announced that nearly two dozen 5-star hotels plus several more premium hotel and hotel apartment operators are poised to start operations in Ras Al Khaimah within the ...
Beltone partners with Siparex to invest in Egypt.
Jul 13, 2008 ... Summary: Cairo, DATE: Egypt-based Beltone Financial is joining forces with FranceCOs leading independent private equity investment group to invest in small medium enterprises-C[pounds sterling]SMEsC[yen]in Egypt and the GCC. Cairo-based Beltone Private Equity and SIGEFI Private ...
Emirates Glass embarks on AED175 million expansion move.(Company overview)
Jul 13, 2008 ... Summary: Emirates Glass LLC (EGL), one of the leading processors of architectural flat glass in the Middle East and a subsidiary of Glass LLC, wholly owned by Dubai Investments (DI), today announced that work on its new aed 175 million, state-of-the-art plant and headquarters, which will ...
Amlak Finance PJSC showcases Skygardens Residential Project.
Jul 14, 2008 ... Summary: A look into one of the most luxurious developments in downtown Dubai Amlak Finance PJSC has opened the doors of Skygardens for an exclusive viewing by the media. Skygardens is the first ready to move-in high-rise residential tower located at the heart of Dubai ...
CEVA and Bahrain Logistics Zone sign major deal at regioneIUs first annual Logistics Networking Luncheon.
Jul 14, 2008 ... Summary: CEVA Logistics, one of the worldeIUs leading logistics companies, today announced a major undertaking to site facilities at the Bahrain Logistics Zone. CEVA Logistics, one of the worldeIUs leading logistics companies, today announced a major undertaking to site ...
MENA set for TV ad revenue boost.
Jul 14, 2008 ... Summary: Multichannel growth is stimulating TV advertising sector New research from Informa Telecoms & Media reveals that 61% of Middle East and North African TV homes currently have a multichannel TV service. InformaeIUs Middle East and Africa TV report forecasts that by 2013 a ...
Palm Utilities launches district cooling projects within prime developments in Dubai.
Jul 14, 2008 ... Summary: Palm District Cooling to provide 120,000 TR to Palm Jumeirah Crescent and 140,000 TR to Jumeirah Lake Towers Palm Utilities (PU), the water and district cooling utility service provider established by government-owned investment firm Istithmar, a major investment ...
Securities & Investment CompanyeIUs funds deliver strong performance during first half of 2008.
Jul 14, 2008 ... Summary: Securities & Investment Company (SICO), the Bahrain based regionally focused investment bank, today announced first half of 2008 performance results for its GCC equity funds, which have outperformed market indices. Securities & Investment Company (SICO), the Bahrain ...
Libya: Al Ghurair Investment & ETA Ascon Star Group conclude US$2 billion deal with NOC.
Jul 14, 2008 ... Summary: The Star Consortium to upgrade LibyaeIUs largest oil refinery The Star Consortium comprising of the Al Ghurair InvestmentseIU subsidiary TransAsia Gas International and ETA Ascon Star GroupeIUs Star Petro Energy, have successfully concluded a deal with the National Oil ...