Mena Report back issues from August 2008:
Emirates installs inflight mobile phone services on Boeing 777-300.
Aug 02, 2008 ... Emirates has again proved itself an aviation industry pioneer after becoming the first airline to introduce inflight mobile phone services on a Boeing aircraft. DubaiCOs award-winning airline recently installed the technology, which allows passengers to make calls and send SMS ...
UAE needs to spend over US$10 billion to address demand for power.
Aug 03, 2008 ... Summary: The UAE needs to spend more than USD 10 billion to meet soaring power demand, with Business Monitor International (BMI) predicting that the country will account for 5.77 per cent of regional power generation by 2011. With aims to leverage the booming power market, Tripp Lite, a ...
First Leasing Bank signs US$ 13.5 million agreement with Konstruktor Engineering Qatar.
Aug 03, 2008 ... Summary: First Leasing Bank signs US$ 13.5 million agreement Bahrain-based First Leasing Bank, the first bank in the GCC specialising in equipment leasing, has signed a US$13.5 million agreement to lease construction and transportation equipment to Konstruktor Engineering Qatar ....
MobileAccess opens new office in Dubai Internet City.(MobileAccess Networks)
Aug 03, 2008 ... MobileAccess Networks, a leading global provider of multi-service indoor wireless solutions for operators and hospitality establishments, has announced today (August 03, 2008) the opening of its new regional office in Dubai Internet City (DIC), the world's largest managed ICT cluster. The ...
Building materials prices expected to rise by 5 per cent in the third quarter of 2008.
Aug 04, 2008 ... The prices of building materials are expected to rise by approximately 5 per cent during the third quarter of 2008, according to Danube Building Materials FZCO, a leading player in the construction, interior decoration and shop-fitting industry. The company further revealed that ...
Porsche Center Jordan represented by Nuqul Automotive unveils its plan for new service center.
Aug 04, 2008 ... Porsche Center Jordan represented by Nuqul Automotive unveiled plans for the construction of its new state of the art service center. The dedicated Porsche center, located in Al-Bayader area, will cater to Porsche car owners in an exclusive and unique environment under the slogan of ...
Red Sea Housing Services announces new subsidiary company in Libya.
Aug 04, 2008 ... Red Sea Housing Services, (Tadawul: 4230), a leading manufacturer of remote site housing solutions, announced today its formation of a subsidiary company in Libya in response to increased demand for Red Sea's products and services across the country and throughout the North Africa region. ...
Saudi stock market declines during July.
Aug 04, 2008 ... At the end of July 2008, the Saudi stock market's TADAWUL All Share Index (TASI) closed at a level of 8,740.74 points, lost 611.58 points (6.54%) over the close of the previous month. On an YTD basis TASI lost 2,297.92 points (20.82%). Highest close level for the index last month was ...
Air Arabia net profit soars to AED 160 million in first half of 2008, up 39 per cent.(Financial report)
Aug 04, 2008 ... Summary: Air Arabia, the first and largest low-cost carrier in the Middle East and North Africa, announced today its financial results for the period ending June 30, 2008, demonstrating continued superior performance and ongoing organic growth. Air Arabia, the first and largest ...
Australian red meat Q2 Mideast sales soar by 22 per cent.
Aug 04, 2008 ... Summary: Australian red meat sales in the Middle East increased by 22 per cent in the second quarter this year reaching 22,838 tons compared to the same period in 2007 when 16,401 tons were consumed, according to the latest report issued by Meat & Livestock Australia (MLA), the ...
Red Sea Housing Services announces new subsidiary company in Libya.
Aug 04, 2008 ... Summary: Red Sea Housing Services, (Tadawul: 4230), a leading manufacturer of remote site housing solutions, announced today its formation of a subsidiary company in Libya in response to increased demand for Red SeaCOs products and services across the country and throughout the North ...
Saudi stock market declines during July.
Aug 04, 2008 ... Summary: At the end of July 2008, the Saudi stock market's TADAWUL All Share Index (TASI) closed at a level of 8,740.74 points, lost 611.58 points (6.54%) over the close of the previous month. At the end of July 2008, the Saudi stock market's TADAWUL All Share Index (TASI) ...
Emirates Sunland announce ,CySky Home Residence,CO penthouse-quality homes at D1 in Culture Village.(Emirates Sunland Group )(Brief article)
Aug 04, 2008 ... Summary: Emirates Sunland Group has announced the launch of its CySky Home ResidencesCO, a collection of penthouse-quality residential suites ranging up to 2,987 sq ft (278 sq m) in the landmark AUD 660 million D1 tower, located in the heart of Culture Village, adjacent to the majestic ...
Tamweel commences Egypt operations.(Brief article)
Aug 05, 2008 ... Tamweel PJSC, the largest real estate finance provider in the UAE, announced today the commencement of its Egypt operations during a special ceremony held in Cairo. It was attended by senior government officials including Osama Saleh, Chairman, Mortgage Finance Authority of Egypt. ...
Sarasin-Alpen receives an advisory license for Oman.(Bank Sarasin et Cie.'s subsidiary Sarasin-Alpen LLC)
Aug 05, 2008 ... Bank Sarasin has been granted the license to provide advisory services in private banking in the Sultanate of Oman by the country's Capital Market Authority (CMA). Oman incorporated Sarasin-Alpen LLC (Oman) is the first Swiss origin private banking presence and activity in Oman. With ...
EFG-Hermes Research ranked top in region by fund and portfolio managers.(Survey)(Brief article)
Aug 05, 2008 ... EFG-Hermes, the leading investment bank in the Arab world, has been named the top research house in the region, for the second year in a row, in Euromoney's Annual Middle East Equity Research Poll. This is the second year the firm's research department has topped the global business ...
Increase of 42% in the Middle East for Volkswagen Group.
Aug 05, 2008 ... The Volkswagen Group delivered 3.27 million vehicles worldwide (+5.8%) from January to June 2008, the highest figure ever for the first six months of a year. Group worldwide deliveries in June also reached a new record: compared with the same period last year, the number of vehicles ...
Tamweel commences Egypt operations.(Tamweel PJSC)(Tamweel International)
Aug 05, 2008 ... Summary: Tamweel PJSC, the largest real estate finance provider in the UAE, announced today the commencement of its Egypt operations during a special ceremony held in Cairo. Tamweel PJSC, the largest real estate finance provider in the UAE, announced today the commencement of ...
Sarasin-Alpen receives an advisory license for Oman.
Aug 05, 2008 ... Summary: Bank Sarasin has been granted the license to provide advisory services in private banking in the Sultanate of Oman by the countryeIUs Capital Market Authority (CMA). Bank Sarasin has been granted the license to provide advisory services in private banking in the ...
EFG-Hermes Research ranked top in region by fund and portfolio managers.(Survey)
Aug 05, 2008 ... Summary: Research analysts at EFG-Hermes receive seven first-place rankings in EuromoneyeIUs second annual poll EFG-Hermes, the leading investment bank in the Arab world, has been named the top research house in the region, for the second year in a row, in EuromoneyeIUs Annual ...
Increase of 42% in the Middle East for Volkswagen Group.
Aug 05, 2008 ... Summary: The Volkswagen Group delivered 3.27 million vehicles worldwide (+5.8%) from January to June 2008, the highest figure ever for the first six months of a year. The Volkswagen Group delivered 3.27 million vehicles worldwide (+5.8%) from January to June 2008, the highest ...
Ameen: KFH has largest deposit share among banks.
Aug 05, 2008 ... Summary: The Acting Assistant Manager for the Banking Sector Nedal Ahmed Ameen stated that the profits were deposited in clients' accounts. It aims to provide multi form saving vessels, which have several time intervals and diverse returns. Moreover, it aims to offer the client regular ...
SHUAA Capital reports first quarter operating income of AED 176.6 million.(Financial report)
Aug 06, 2008 ... Summary: SHUAA Capital, the regionCOs leading financial services institution, today reports results for the first quarter ended 30 June 2008. SHUAA Capital, the regionCOs leading financial services institution, today reports results for the first quarter ended 30 June 2008. The ...
Aber Group,COs investments in real estate touch AED 1.5 billion.
Aug 06, 2008 ... Summary: Aber Group, the prime real estate developer in the UAE and Middle East today said that its current investments in the sector have touched AED 1.5 billion. The investment portfolio comprises free hold, villas, hotels, commercial tower, warehouses and various labor camps ...
IT spending in the GCC to exceed AED 33 billion in 2008.(Gulf Cooperation Council)(Report)
Aug 06, 2008 ... Summary: IT spending in the GCC is expected to exceed AED 33 billion in 2008, representing a 15 per cent growth in comparison to 2007, according to a report by research firm IDC. The rising IT spending in the region has been mainly driven by the burgeoning hardware market, which comprised ...
Aramex delivers strong results for first half of 2008.(Aramex International Ltd.)(Financial report)
Aug 06, 2008 ... Summary: Aramex (DFM: ARMX) today announced that for the second quarter ending June 30, 2008, revenues rose from AED 437.5 million to AED 539.3 million, resulting in double-digit growth of 23% over the same period in 2007. Second quarter net profits climbed 15% to AED 38.4 million, ...
Dubai taps into $97 billion anti-aging market.
Aug 06, 2008 ... Summary: Dubai is soon to welcome the worldCOs anti-aging experts as doctors and health professionals sign up to be part of the first Dubai Congress on Anti-Aging and Aesthetic Medicine (DCAAAM) to be held at the Dubai World Trade Centre from 7-9 November. Dubai is soon to ...
Cable&Wireless expands its global presence with new MPLS network in Middle East.(multiprotocol label switching )(Cable & Wireless Communications Inc.)
Aug 06, 2008 ... Summary: Cable&Wireless today announces the deployment of an extensive telecommunications network (MPLS) across the Middle East to better serve the needs of its enterprise customers currently based in or planning to move to the region. This includes Points of Presences (PoPs), in Dubai, ...
SHUAA Capital reports first quarter operating income of AED 176.6 million.(Shuaa Capital)(Financial report)
Aug 06, 2008 ... SHUAA Capital, the region's leading financial services institution, today reports results for the first quarter ended 30 June 2008. The results reflect SHUAA's robust business model and solid market positioning across its businesses. First quarter operating income reached AED ...
Rasmala - MENA market overview July.(Market overview)
Aug 07, 2008 ... Value Returns Value Returns MTD* YTD* MTD* YTD* Jordan Index (JOD) 4,662.02 -2.36% 27.91% Oman Index (OMR) 10,737.1 -5.17% ...
TAQA second quarter and first half 2008 financial results.(Financial report)
Aug 07, 2008 ... Summary: Abu Dhabi National Energy Company PJSC, a publicly listed company on the Abu Dhabi Securities Exchange (ADX: TAQA), today reported financial results for the second quarter and first half of 2008. Abu Dhabi National Energy Company PJSC, a publicly listed company on the ...
rezidor gears up for record-breaking 2008; Group looking to swell MEA portfolio representation to 17% by 2009.
Aug 07, 2008 ... Summary: The Rezidor Hotel Group, one of the fastest growing hotel companies worldwide, is ramping up its ambitious strategic business development programme following positive 2008 half-year financial results, which saw growth in revenue and EBITDA (earning before interest, taxes, ...
Investcorp,COs real estate debt platform continues strong growth.
Aug 07, 2008 ... Summary: InvestcorpCOs U.S. based real estate group announced today that its debt investment business continues to be active with its acquisition of several mezzanine loans that are collateralized by various single-asset properties and multiple-asset hotel portfolios located across the ...
SriLankan Airlines records 33% growth in leisure travel to Far East from Oman.
Aug 09, 2008 ... SriLankan Airlines reported a 33 per cent surge in tourist traffic to Far Eastern destinations including Kuala Lumpur, Bangkok and Singapore among leisure travellers from the Sultanate of Oman. V. Ravindran, Sri Lankan Airlines' Manager of Oman, said: "An increasing number of ...
DGCX posts records trade in July 2008.(Brief article)
Aug 10, 2008 ... Volumes on Dubai Gold & Commodities Exchange (DGCX) reached an all time high in July of 186,842 contracts, valued in excess of US$12 billion, an increase of 227% over July 2007. Total year-to-date (January-July) volumes were up 56% over the previous year, with 821,388 contracts ...
Emaar Middle East makes on-schedule progress on Jeddah Gate construction.(Emaar Properties)
Aug 10, 2008 ... Summary: Emaar Middle East, a property development associate of Emaar Properties PJSC focused on projects in the Middle East region, has announced on-schedule progress in the infrastructure work of Jeddah Gate, the companyCOs SR6 billion (US$1.6 billion) flagship development. ...
ALDAR and IDG join hands to launch management development programme.
Aug 10, 2008 ... Summary: ALDAR Properties, the leading integrated property development company, has commissioned the Inspirational Development Group (IDG), a leading UK provider of development programmes, to run a special management development programme for ALDARCOs UAE graduate and scholarship students ....
DGCX posts records trade in July 2008.(Dubai Gold & Commodities Exchange )(Brief article)
Aug 10, 2008 ... Summary: Volumes on Dubai Gold & Commodities Exchange (DGCX) reached an all time high in July of 186,842 contracts, valued in excess of US$12 billion, an increase of 227% over July 2007. Volumes on Dubai Gold & Commodities Exchange (DGCX) reached an all time high in July of ...
Bader,COs Building Block Fund: $17m to help Lebanese SMEs.
Aug 11, 2008 ... Summary: Bader (Young Entrepreneurs Program) has launched a new initiative with the organization of its first Global Lebanese Business Leaders Conference in Beirut on August 5, 2008, at InterContinental Phoenicia, bringing together a select group of successful, inspiring and dynamic ...
Autodesk denies signing license agreement with Jordan Engineers Association.
Aug 11, 2008 ... Summary: Autodesk, the world leader in 2D and 3D design software for the manufacturing, building, and media and entertainment markets, has denied signing any license agreement with Jordan Engineering Association (JEA), contrary to an announcement recently made by the organization. ...
Pitney Bowes strengthens its presence in Jordan.
Aug 11, 2008 ... Summary: Pitney Bowes, the worldCOs leading mailstream technology company, today announced the appointment of Technical Equipment & Supplies Company (TESCO), one of the leading companies in the field of marketing and sales of high volume printing and copying solutions, as its official ...
Global : Decline witnessed across GCC market in July except UAE which gained 0.4% during the month.(Global Investment House )(Financial report)
Aug 12, 2008 ... Summary: Global Investment House Co Kuwait - GCC Market Review - for the month of July 2008 - All the regional markets declined with the sole exception of UAE. NBAD Index gained 0.4% during the month to reach 13,788.9 points. GCC Market Review - for the month of July 2008 - All ...
Cisco Expands Technical Assistance Center Operations in Jordan.(Cisco Inc.)
Aug 12, 2008 ... Summary: Cisco announced today that as part of its ongoing drive to provide outstanding service and support to channel partners and customers across the Middle East, the Cisco Technical Assistance Center (TAC) in Jordan has doubled its headcount to 55 engineers. The growth aligns with ...
Dar Al Marefa, Mirdiff,COs new pioneering school.
Aug 12, 2008 ... Summary: The Mirdiff area will witness the opening of its own Dar Al Marefa in September 2008. Literally meaning Cyhouse of knowledgeCO in Arabic, Dar Al Marefa, an initiative of Al Ghurair Investments, will be the cornerstone of a broader program aiming to enhance the standards of ...
UKCIG to complete Marina Star by Q1 2011.
Aug 12, 2008 ... Summary: UK Capital Investments Group (UKCIG), the international developer of prestigious projects such as the Metropolis Lofts in Jumeirah Village will complete the construction of Marina Star, the 32-story residential development by first quarter of 2011. UK Capital ...
Schaub Lorenz ,Co leading German consumer appliance brand debuts in the UAE.
Aug 13, 2008 ... Summary: SchaubLorenz Co a 120 year old German brand, a name built on tradition and innovation with a history of more than 60 years in consumer electronics made its debut at a glittering ceremony held in Dubai with the appointment of Crescent General Trading Co trading division of the ...
Kuwait contributes US$80 million for Palestinians.(Palestinian Reform and Development Program)
Aug 13, 2008 ... Summary: The World Bank Managing Director Juan Jose Daboub has signed an agreement with the Ambassador of Kuwait in Washington Sheikh Salem Abdullah Al Jaber Al-Sabah to transfer US$80 million to the World Bank-administered multi-donor Trust Fund to support the ongoing Palestinian Reform ...
Ithmaar Bank posts record half year profit of US$141.9 million.(Financial report)
Aug 14, 2008 ... Summary: Ithmaar Bank, a Bahrain-based investment bank with global reach, today announced a 115 per cent surge in its half year net profit to a record US$141.9 million, up from US$65.9 million for the same period last year. Ithmaar Bank, a Bahrain-based investment bank with ...
Dusit International launches first branded residence in Dubai Marina.
Aug 14, 2008 ... Summary: Five-star Cynext generationCO Thai hospitality extends reach as expansion plans for Thai hotel brand become reality Bangkok-based Thai hospitality chain Dusit International will soon unveil its first branded residence outside of Thailand, with the soft opening of Dusit ...
Bahrain: GPIC sets up carbon dioxide plant.
Aug 14, 2008 ... Summary: As part of a global co-operation to protect the environment, GPIC in co-operation with Technoment of Italy and Mitsubishi Heavy Industries Company, Japan will set up a carbon dioxide recycling plant to be the first petrochemical company in the Middle East to use such ...
Abu Dhabi Media Company to pioneer High Definition TV broadcasting across the Arab world.
Aug 14, 2008 ... Summary: Outside broadcast vehicles ready to deliver high-definition production to the Middle East Abu Dhabi Media Company, a diversified media and entertainment company, is the first media company in the region to take delivery of a fleet of outside broadcast (OB) vans which ...
EFG-Hermes posts record performance in first half of 2008.(Financial report)
Aug 14, 2008 ... Summary: Leading Arab investment bank EFG-Hermes reported record 1H 08 revenues and net profit on the back of its strategy to expand and diversify its operations despite volatile market conditions resulting from a regional correction and global economic turmoil EFG-Hermes, the ...
Alafco signs another agreement with Saudi Arabian Airlines.
Aug 16, 2008 ... Summary: Alafco Aviation Lease and Finance Company announced the signing of an agreement for the lease of 8 Airbus A320-200 aircraft to Jeddah based Saudi Arabian Airlines. Alafco Aviation Lease and Finance Company announced the signing of an agreement for the lease of 8 Airbus ...
Dana Gas achieves revenue of AED 581 million in first half.
Aug 17, 2008 ... Summary: Quarterly Revenue rises to AED 309 million, 28% increase over same period last year Dana Gas PJSC, the Middle EastCOs largest regional private sector natural gas company, has announced quarterly results to June 30, 2008, posting revenue from oil and gas production of ...
Gulf Huwaylat added to Gulf Navigation fleet.
Aug 17, 2008 ... Summary: Gulf Navigation Holding PJSC has received the newly-built Gulf Huwaylat, an IMO Type II chemical carrier capable of carrying a broad range of petrochemical products. Gulf Navigation Holding PJSC has received the newly-built Gulf Huwaylat, an IMO Type II chemical carrier ...
Quiet Calendar May See New Zealand Dollar Correct Higher.
Aug 18, 2008 ... Summary: Economic fundamentals are unlikely to factor significantly in New Zealand dollar price action this week as the data docket is decidedly uneventful. The ... Economic fundamentals are unlikely to factor significantly in New Zealand dollar price action this week as the data ...
Will Switzerland Slow Fast Enough To Tame Inflation?
Aug 18, 2008 ... Last week saw the Swiss Franc continue to weaken against the US dollar as the greenback extended the momentous rally that started in mid-July. This week is expected to see ecnomic data catch up with the price action as Retail Sales print lower, the Trade Balance shows a narrower surplus, ...
Microsoft Gulf and UAE Ministry of Economy collaborate on major UAE anti-software piracy raids in Dubai and Abu Dhabi.
Aug 18, 2008 ... Summary: Microsoft, a member of the Business Software Alliance (BSA), the leading global organisation that is the voice of the world's commercial software industry and its hardware partners before governments and in the international marketplace, has announced successful anti-piracy raids ...
Kuwait Telecom Company KTC awards Leo Burnett Kuwait creative account.
Aug 18, 2008 ... Summary: Leo Burnett Kuwait, a leading creative agency, was recently awarded the creative account for the Kuwait Telecom Company (KTC) - the newest telecommunications company in the Gulf state. The creative account, which will begin with the companyCOs launch, comes in addition to the ...
Over US$100 billion poured in Gulf waterfront projects.
Aug 18, 2008 ... Summary: The Arabian Gulf is currently witnessing over USD 100 billion worth of investments in waterfront developments, in tune with ongoing global trends as indicated by recent studies that reveal up to two thirds of the world's population living in coastal communities and a large amount ...
Middle East fuels Samsung mobile phone growth.
Aug 18, 2008 ... Summary: Samsung Electronics Co. Ltd., a leading mobile phone and telecommunication equipment provider, announced that it has posted its fifth consecutive quarter, selling 45.7 million handsets in the quarter, 22 per cent higher than the same period in the previous year thanks to strong ...
EFG-Hermes enters Kuwaiti market.(Kuwait Investment and Asset Management Co.)
Aug 18, 2008 ... Summary: EFG-Hermes, the leading investment bank in the Arab world, announced today that it has entered the highly promising Kuwaiti market through a strategic partnership with Kuwait Invest Holding Company whereby it has acquired an equity interest in Offset Holding KSC for approximately ...
5 Key Events for the Market This Week 08-18-08.
Aug 18, 2008 ... Forex trading should remain volatile this week as event risk looms for the US dollar, Euro, British pound, and Canadian dollar. Given the sharp rally in the greenback over the course of last week, stronger-than-expected economic indicators for other regions could easily trigger reversals ...
Hedging Euro Strengh Against the Lira Creates Entry To Yield-Driven Trend.
Aug 18, 2008 ... The Euro has been steadily declining against the Lira since mid-April as Turkey's monetary authorities issued three consecutive interest rate increases to bring borrowing costs to a hefty 16.75%. Deteriorating economic conditions in Euro-Zone fundamentals have only fueled the selloff. Most ...
Euro Open: Will Swiss Retail Sales Point to a September Rate Hike?
Aug 18, 2008 ... Overnight data offered few surprises: UK house prices continued lower, while marginal improvements in New Zealand's service sector and Japan's department store sales were inadequate to substantially offset recent weakness. The European session is expected to see Euro Zone trade figures ...