Mena Report back issues from January 2009:
Palm Water commissions new Sea Water Reverse Osmosis plant to provide potable water to Atlantis on Palm Jumeirah Crescent.
Jan 04, 2009 ... Summary: First wide-scale water treatment facility in GCC to utilise Ultra Filtration as the pre-treatment technology Palm Utilities, a subsidiary of Istithmar World PJSC, has announced that it has recently commissioned the Sea Water Reverse Osmosis (SWRO) plant at the Crescent ...
Etihad Airways ends 2008 with impressive results.
Jan 04, 2009 ... Summary: UAE's Etihad Airways flew more than six million passengers in 2008, a 34 per cent jump on 2007. UAE's Etihad Airways flew more than six million passengers in 2008, a 34 per cent jump on 2007. The growth during 2008, Etihad's fifth year of operations, saw passenger ...
Dubai Investment Properties launches luxury 'Sunset' mixed development project.
Jan 05, 2009 ... Summary: Sunset will set a new parameter in luxury retail experience and offer customers a unique shopping environment featuring only high-end international brands. Dubai Investment Properties (DIP), one of the leading real estate developers in UAE, today announced the launch of ...
MISSHA opens flagship store at Dubai Mall.
Jan 05, 2009 ... Summary: Al Tayer Trends recently opened the flagship store of Missha at Dubai Mall, bringing this globally recognized beauty retail chain to the world's largest shopping and leisure destination. Al Tayer Trends recently opened the flagship store of Missha at Dubai Mall, ...
Rasmala MENA Private Equity Fund 2 announces first closing with USD 120 million in commitments received.
Jan 05, 2009 ... Summary: Rasmala, a leading regional investment banking firm announced the successful first closing of Rasmala MENA Private Equity Fund 2, with USD 120 million in commitments received. Rasmala, a leading regional investment banking firm announced the successful first closing of ...
Rubber World Industries bags rubber insulation contract for 'Green Community West'.
Jan 05, 2009 ... Summary: Leading manufacturer to supply top quality eco-friendly rubber insulation products for the project 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 ...
Dubai: adidas opens its doors for David Beckham and Kaka.
Jan 05, 2009 ... Summary: "adidas Sign for AC Milan" competition winners meet the stars adidas, the Official sportswear partner of AC Milan football club, hosted an exclusive meet and greet session today for the five lucky winners of its 'adidas Sign for AC Milan' competition. AC ...
Sweet Homes awards AED 450 million construction contract to Master Civil Construction.
Jan 06, 2009 ... Summary: Sharjah-based contractor to begin construction work on 3 towers within AED 1.7 billion 'Rainbow Towers' project Sweet Homes, a leading UAE-based developer and total solutions provider to the real estate sector, has awarded an AED 450 million contract to Sharjah-based ...
Gulf Navigation Holding Commences 2009 as new chemical tanker "Gulf Deffi" joins fleet.
Jan 06, 2009 ... Summary: Gulf Navigation Holding PJSC (DFM: GULFNAV), has announced that it has taken delivery of the Gulf Deffi a newly built tanker constructed at the Hyundai Mipo Dockyard in Ulsan, South Korea, this delivery is the first of three tankers expected this year. Gulf Navigation ...
Abu Dhabi: Phase I of Bawabat Al Sharq moves full steam ahead.
Jan 06, 2009 ... Summary: Baniyas Investment and Development Company (BID), the investment arm of Bani Yas Sports Club, today announced significant progress achieved on the AED 3 billion Bawabat Al Sharq project -- a mixed-use development community located in Bani Yas, Abu Dhabi. Baniyas ...
Jordan: Samarah Dead Sea Resort makes progress.
Jan 06, 2009 ... Summary: Excavation work and blinding concrete of three buildings completed Emaar International Jordan, the subsidiary of Emaar Properties and developer of Samarah Dead Sea Resort, has made progress on the construction of Samarah Dead Sea Resort. Excavation and blinding ...
Imdaad to expand service fleet with more Compactors.
Jan 06, 2009 ... Summary: Focus on faster, cleaner waste management In its efforts to provide the most efficient and best environmental services, Imdaad, the high-end facility management service provider under Dubai World, announced more investment in its fleet to match the growth in business ...
Westcon Middle East inks distribution agreement with SonicWALL.
Jan 06, 2009 ... Summary: SonicWALL to leverage Westcon ME's vast expertise to distribute and promote portfolio of network security solutions WestconME, a leading value-added distributor of security, convergence and mobility products and solutions for leading technology vendors, has announced ...
Emaar EC awards SAR 120 million contract to construct education centre in KAEC.
Jan 07, 2009 ... Summary: Emaar, The Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC), has awarded Freyssinet Saudi Arabia a SAR 120M contract for the construction of the mega-project's first school -- within the Esmeralda District in KAEC. ...
Saudi Arabia: Al Alamiya receives Royal Decree.(Brief article)
Jan 07, 2009 ... Summary: The Saudi Council of Ministers headed by King Abdullah Bin Abdul-Aziz has announced the issuance of the Royal Decree that grants approval to Al Alamiya to operate as a licensed insurance company in the Kingdom of Saudi Arabia. The Saudi Council of Ministers headed by ...
Hands-on experience takes mystery out of buying mobiles.
Jan 07, 2009 ... Summary: 'In-Store Expert Advice is Critical to Making Best Choice,' Says Axiom Telecom Regional mobile phone buyers would be smart to patronize shops where there are technically-trained staff, rather than just sales assistants, say Axiom Telecom executives. Mobile ...
Dubai leads in Islamic finance with new Shariah hedge fund index.
Jan 07, 2009 ... Summary: The Dubai Multi Commodities Centre Authority (DMCCA) and Shariah Capital, Inc. (SCAP.L) today announced the Dubai Shariah Hedge Fund Index, the first internationally-recognised index comprised exclusively of Shariah compliant hedge funds. The Dubai Multi Commodities ...
Growth to continue: global and regional aviation experts still upbeat about industry.
Jan 08, 2009 ... Summary: Aviation experts believe that the regional airline industry will continue its impressive growth over the next five years, indicating a bullish and confident attitude amongst the doom and gloom that engulfs the world, according to a survey conducted by Terrapinn, organiser of the ...
SHUAA Capital de-lists from Kuwait Stock Exchange.
Jan 08, 2009 ... Summary: SHUAA Capital, the leading financial services institution in the GCC, confirms that its shares have now been de-listed from the Kuwait Stock Exchange SHUAA Capital, the leading financial services institution in the GCC, confirms that its shares have now been de-listed ...
Dana Gas set to build on achievements with target 76% increase in production rate in 2009.
Jan 08, 2009 ... Summary: Dana Gas PJSC, the Middle East's first and largest regional private-sector natural gas company, expects a strong year of growth Dana Gas PJSC, the Middle East's first and largest regional private-sector natural gas company, expects a strong year of growth in both ...
Bahrain: Moody's changes outlook of NBB and BBK to negative.
Jan 08, 2009 ... Summary: Moody's Investors Service has today changed to negative from stable the outlook on the A2 long-term foreign currency deposit ratings of the two largest (rated) commercial banks in Bahrain Moody's Investors Service has today changed to negative from stable the outlook on ...
Global Investment House: Saudi Arabian Economy -- Expected to Stand Firm.
Jan 10, 2009 ... Summary: Saudi Arabia's economic performance has been exceptional over the years. The Kingdom largely benefited from the recent high oil prices and is projecting the nominal GDP of SR1.7trillion (US$467.5bn). Saudi Arabia's economic performance has been exceptional over the ...
Abu Dhabi National Islamic Finance arranges AED334 million for SinoGulf Commercial Tower in Capital Centre.
Jan 11, 2009 ... Summary: (ME NewsWire) - Abu Dhabi National Islamic Finance (ADNIF), the Islamic banking division of National Bank of Abu Dhabi (NBAD), recently arranged an AED334 million facility for SinoGulf Investments' commercial tower project in Capital Centre. Abu Dhabi National Islamic ...
Deutsche Bank launches revolutionary sharia compliant issuance platform.
Jan 11, 2009 ... Summary: Deutsche Bank announced today the launch of "Al Mi'yar", a first of its kind platform aimed at facilitating the issuance of Shari'a compliant securities. "Al Mi'yar", from the Arabic "The Standard", is a Luxembourg domiciled platform, developed by Deutsche Bank, with ...
Mall of Arabia and Wadi Walk zone one on track as works progress.
Jan 11, 2009 ... Summary: Construction work at Dubai's US$5 billion retail, residential, commercial and entertainment district, City of Arabia, is moving full steam ahead as the premier lifestyle development starts to take shape. While rumours and speculation surround many of Dubai's major ...
Industry Leaders converge in full force to review strategies in the context of the global economic crisis.
Jan 12, 2009 ... Summary: Leading insurance companies are converging in full force at the 5th Annual Middle East Insurance Forum (MEIF 2009), which will take place on the 8th and 9th of February 2009 at the Gulf Hotel, Kingdom of Bahrain, under the patronage of HE the Governor of the Central Bank of ...
Mobinil selects Netcracker to transform Middle East 3G infrastructure.
Jan 12, 2009 ... Summary: Solution Automates Service Fulfillment, Speeds Time-to-Market, and Reduces Capital and Operational Costs Mobinil, the largest mobile service provider in the Middle East, has selected NetCracker Technology's innovative OSS solution to manage its 3G Radio Access Network ....
ISKAN announces major real estate project in Oman.(ISKAN Oman Investment Company)
Jan 12, 2009 ... Summary: ISKAN unveils a key part of its new geographical diversification plan ISKAN Oman Investment Company, a subsidiary of Kuwait based ISKAN Housing Finance Company, announced the development of its prime residential project, Zahrat Al Khareef in the city of Salalah, today. ...
Dubai: 23 Marina to grow to record height; Set to reach 380 metres.
Jan 12, 2009 ... Summary: Hircon International, the developer of 23 Marina plans to position this iconic skyscraper to be one of the Middle East's tallest residential buildings. Hircon International, the developer of 23 Marina plans to position this iconic skyscraper to be one of the Middle ...
Real estate and insurance sectors constitute just 12 % of pan- Arab advertising spend.
Jan 12, 2009 ... Summary: The global financial crisis will not seriously affect the pan-Arab advertising industry, as the affected insurance and real estate sectors constitute only 12 per cent of the total advertising spend, according to a regional expert. The global financial crisis will not ...
Saudi Arabian airlines select Sita for $76 m global hybrid network deal.
Jan 13, 2009 ... Summary: SITA, the leading specialist in air transport IT and Communications (IT&C), today announced that it has signed a five-year, $76 million contract to implement and maintain an advanced communications and desktop infrastructure for Saudi Arabian Airlines (SV) globally. The hybrid ...
Wataniya Airways signs outsourcing deal with Kale.
Jan 13, 2009 ... Summary: Kale Consultants Ltd, a leading solutions provider to Airline, Logistics and Travel (ALT) industry, announced that it has entered into a multi-year outsourcing contract with Wataniya Airways, Kuwait's new full service luxury airline. As part of the deal, Kale will deliver complete ...
Qatar economy resilient in face of global economic slow down.
Jan 13, 2009 ... Summary: Dun & Bradstreet South Asia Middle East (D&B) released today D&B Business Optimism Index for Qatar for Q1 2009 in association with Qatar Financial Centre (QFC) Authority and Al Khalij Commercial Bank (al khaliji). Dun & Bradstreet South Asia Middle East (D&B) released ...
ADIB agrees AED 1.45 billion financing deal with Al Habtoor Engineering Enterprises.
Jan 13, 2009 ... Summary: Abu Dhabi Islamic Bank (ADIB), one of the region's leading Islamic banks, has confirmed a AED1.45 billion financing agreement for a joint venture between contractors Al Habtoor Engineering Enterprises Company LLC and Murray & Roberts Contractors (Abu Dhabi) LLC, to support the ...
Emerson opens new Dubai facility and strengthens presence in Middle East.(Emerson Electric Co.)
Jan 13, 2009 ... Summary: Recent Investment Highlights Longstanding Presence and Strong Customer Relationships in Region Emerson (NYSE: EMR) yesterday celebrated the official opening of its new regional headquarters in Dubai to better serve its growing portfolio of business in the ...
Etisalat officially secures 3rd mobile license in Iran.
Jan 13, 2009 ... Summary: Emirates Telecommunications Corporation- Etisalat today announced that it has officially won the third mobile network license in the Islamic Republic of Iran in consortium with Taameen Telecom, a company owned by the Iranian Social Security Organization (SSO) that serves more than ...
Bahrain leads MENA region on Economic Freedom.
Jan 13, 2009 ... Summary: Bahrain has been ranked as the 16th freest economy in the world and most free in the Middle East and North Africa region in the annual Index of Economic Freedom, published by the Heritage Foundation and Wall Street Journal. Bahrain has been ranked as the 16th freest ...
RAK FTZ continues growth amidst the current global slowdown.
Jan 14, 2009 ... Summary: "The current global financial slowdown will not impede Ras Al Khaimah Free Zone's (RAK FTZ) expansion projects to support existing and new investors at the zone," says Oussama El Omari, RAK FTZ CEO. "The current global financial slowdown will not impede Ras Al Khaimah ...
Huawei successfully delivers VIVA its whole mobile network in Kuwait.
Jan 14, 2009 ... Summary: Huawei Technologies Co Ltd. ("Huawei"), a leader in providing next generation telecommunication solutions for the operators around the world, today announced that it has successfully completed its VIVA project, Kuwait's third telecom operator. Huawei Technologies Co ...
MENA's ICT growth to decrease by 5 per cent in 2009.
Jan 14, 2009 ... Summary: A drop in IT spend is expected in 2009 as the MENA region begins to adjust to new market conditions, revealed an information and communications technology (ICT) study conducted by Madar Research in conjunction with marketing communications consultancy Orient Planet. A ...
Saudi Arabia: MODON allocated 407 plots of industrial lands worth industrial capital estimated at more than SR24 billion.
Jan 14, 2009 ... Summary: The total cost of rehabilitation projects of industrial cities in year 2008 was more than 1.5 billion riyals Saudi Industrial Property Authority (MODON) has issued its annual report for the year 2008. The report included many important achievements shown as follows: An ...
Moody's reports: Negative outlook for UAE banking system.
Jan 14, 2009 ... Summary: The fundamental credit outlook for the banking sector of the United Arab Emirates (UAE) is negative, reflecting growing pressures in the operating environment, which we believe will weaken the financial fundamentals of UAE banks going forward, says Moody's Investors Service in its ...
New Dana Gas discoveries expected to Double Company's Egypt gas reserves.
Jan 15, 2009 ... Summary: Dana Gas, the Middle East's first and largest regional private sector natural gas company, has announced that its current drilling campaign in Egypt Dana Gas, the Middle East's first and largest regional private sector natural gas company, has announced that its current ...
Gaza: Economic damages amount to at least US$1.4 billion.
Jan 15, 2009 ... Summary: Israel's military assault on Gaza Strip has destroyed at least $1.4 billion worth of buildings, roads, pipes, power lines and other infrastructure, Palestinian surveyors estimate. Israel's military assault on Gaza Strip has destroyed at least $1.4 billion worth of ...
Qtel to begin coordinated tender offer for pt Indosat TBK.
Jan 18, 2009 ... Summary: Qatar Telecom Q.S.C. ("Qtel") is commencing this coming Tuesday, January 20, 2009, two concurrent tender offers in Indonesia and the United States for shares in PT Indosat Tbk ("Indosat") (IDX: ISAT; NYSE: IIT). The Company is offering to purchase up to 1,314,466,775 ...
Capitala signs co-Operation agreement with Abu Dhabi Finance.
Jan 18, 2009 ... Summary: Capitala, the Abu Dhabi based real estate company, today announced that it has signed a Co-operation Agreement (CA) with Abu Dhabi Finance to extend mortgage financing services to buyers of its maiden project Arzanah. The CA, signed today in Abu Dhabi between the two ...
Emaar E.C. Reveals Final Designs of King Abdullah Economic City Sea Port.
Jan 18, 2009 ... Summary: Emaar, the Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC), has revealed the final blueprints of the KAEC Sea Port, designed in coordination with Halcrow, the international consultancy specializing in the provision of planning, ...
SAP launches training curriculum in the Middle East.
Jan 18, 2009 ... Summary: SAP and MESAP to offer training curriculum in UAE and Qatar SAP today announced that it will be offering customers in the Middle East the opportunity to maximize their investment in SAP technology through a range of training courses, provided in collaboration with its ...
+9m passengers through Abu Dhabi in 2008.
Jan 18, 2009 ... Summary: Abu Dhabi International Airport today released its traffic figures for 2008, signalling an airport record of 9.02 million passengers were handled through its facilities during the last calendar year. With passenger traffic up 30.2 per cent, from 6.9m in 2007, Abu Dhabi ...
Global begins operations in Saudi Arabia.
Jan 18, 2009 ... Summary: Global Investment House (Global) announced today that Global Investment House Saudi Arabia (Global-Saudi) received permission from the Saudi Financial Authority to launch its operations in private placements, M&As, privatizations, advisory services and IPOs to name a few ....
Design solutions market in the Middle East to rise by 5 per cent in 2009.(Conference news)
Jan 19, 2009 ... Summary: ProMedia to host high impact seminar to raise awareness on Autodesk Revit and Civil 3D 2009 solutions in Qatar The design solutions market in the Middle East is expected to rise by 5 per cent in 2009, according to Promedia, a leading systems integrator and part of UAE ...
Volvo to appoint new Saudi Dealer in the near future.
Jan 19, 2009 ... Summary: Zahid Tractor ,Volvo Distributor in Saudi Arabia announced new strategic plans by exiting the car industry Volvo Cars Middle East announced that after a long and effective partnership with Zahid Tractor & Heavy Machinery Company Limited- one of the Kingdom's leading and ...
Jaguar's new XKR limited edition arrives in Jordan.
Jan 19, 2009 ... Summary: Mahmoudia Motors announced the arrival of the XKR Limited Edition, a lightweight sports coupe produced exclusively for the Middle East and North Africa (MENA) market. Mahmoudia Motors announced the arrival of the XKR Limited Edition, a lightweight sports coupe produced ...
Gulf in $14 billion hospital build programme.
Jan 19, 2009 ... Summary: Healthcare projects unaffected by slowdown as regional governments remain committed to infrastructure growth Almost $14 billion is being spent in Arabian Gulf countries on new hospital and healthcare facilities currently in various stages of construction in ...
Kuwait announces US$2 billion Arab development initiative.(Conference news)(Brief article)
Jan 19, 2009 ... Summary: The Emir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah announced Monday a US$2 billion Arab development initiative to provide financial resources for financing and supporting small and medium enterprises (SMEs). The Emir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber ...
SABIC reports Preliminary consolidated financial results for the period ending December 31, 2008.(Financial report)
Jan 20, 2009 ... Summary: Net profits in the fourth quarter of 2008 amount to SAR 311 million, compared with SAR 6.87 billion in the fourth quarter of 2007, a decline of 95% and SAR 7.24 billion in the previous quarter, a decrease of 96% eI Net profits in the fourth quarter of 2008 amount to SAR ...
Damas opens nine stores in Dubai Mall.
Jan 20, 2009 ... Summary: Damas International Limited (eIuDamaseIN), the international integrated jewellery and watch retailer, today announces the successful opening of nine different stores at Dubai Mall Damas International Limited (eIuDamaseIN), the international integrated jewellery and ...
Al Rajhi signs Corporate Card MoU with Visa KSA.(contract between Al Rajhi Banking and Investment Corp. and Visa Inc.)(Brief article)
Jan 20, 2009 ... Summary: Card to replace petty cash; enhance corporate management, monitoring and analysis of travel and entertainment expenses Al Rajhi Bank has announced a partnership with Visa to provide selected employees with Visa Corporate Cards by March 2009. The cards will replace petty ...
UAE manufacturers confident on growth.
Jan 20, 2009 ... Summary: Participants at MEMEX upbeat about investment in non-oil industrial output; UAE & the region poised for steady sales growth in 2009 Participants at the second Middle East Manufacturing Exhibition (MEMEX), which concluded recently at the Abu Dhabi National Exhibition ...
Etihad Airways' USD 110 million new Airbus aircraft, financed by Al Hilal Bank, lands in Abu Dhabi.
Jan 21, 2009 ... Summary: Helping to further Abu Dhabi's economic vision for 2030 the A340-600 aircraft, financed by Al-Hilal Bank, was delivered to Etihad Airways to support expanding fleet Al Hilal Bank, the freshest face in Islamic Banking, sees the realisation of its USD 110 million aircraft ...
General Motors announces 2008 sales results for the Middle East.(Financial report)
Jan 21, 2009 ... Summary: General Motors (GM) today announced their car sales and business results for 2008. Figures released show that GM sales in the region have increased by 6% over 2007, in spite of a market slowdown in the fourth quarter due to the global economic crisis. General Motors ...
Walid bin Talal company reports huge losses.(Financial report)
Jan 21, 2009 ... Summary: The Kingdom Holding Company, owned by the Saudi tycoon Prince Walid bin Talal, reported a $8.26 billion net loss in the fourth quarter of 2008 The Kingdom Holding Company, owned by the Saudi tycoon Prince Walid bin Talal, reported a $8.26 billion net loss in the fourth ...
Algerian trade surplus up by 20%.
Jan 21, 2009 ... Summary: The trade surplus of Algeria increased to $39.07 billion last year, up 20.12 percent from $32.53 billion in the previous year The trade surplus of Algeria increased to $39.07 billion last year, up 20.12 percent from $32.53 billion in the previous year, official figures ...
UNIDO: New Equity Fund offers hope.
Jan 21, 2009 ... Summary: UNIDO (United Nations Industrial Development Organization) recently established the Equity Fund, dedicated to provide financial support for the many innovative agro solutions presented at its last conference. UNIDO (United Nations Industrial Development Organization) ...
Wataniya Airways becomes newest airbus operator.
Jan 21, 2009 ... Summary: Kuwait based Airline Wataniya Airways, has taken delivery of its first leased A320 aircraft, and has become the newest Airbus operator. Kuwait based Airline Wataniya Airways, has taken delivery of its first leased A320 aircraft, and has become the newest Airbus ...