TradeArabia (Manama, Bahrain) back issues from November 2008:
Barclays eyes Gulf for $11.8bn capital raise.
Nov 01, 2008 ... Byline: London (Image: barclays.gif ) British bank Barclays said it will raise Au7.3 billion ($11.8 billion), mostly from investors in Abu Dhabi and Qatar, to bolster its finances amid the global credit crunch. The fresh capital means that Barclays will ...
Bahrain fast emerging IT hub of GCC.
Nov 01, 2008 ... Byline: Manama (Image: hub.gif ) Bahrain is consolidating its position as the information technology hub of the region, with more international IT companies agreeing to open their regional headquarters in the kingdom. Several agreements were signed at the ...
Nissan to axe 3,500 jobs worldwide.
Nov 01, 2008 ... Byline: Tokyo (Image: nissan.gif ) Japan's Nissan Motor Company said it was axing 3,500 jobs worldwide and cut its full-year forecasts by two-thirds as the global economic crisis shakes the auto industry. Japan's third largest carmaker, which is controlled ...
Kuwait, Iran cut crude supplies as prices fall.
Nov 01, 2008 ... Byline: Tokyo (Image: oil.gif ) Opec member Kuwait has notified at least two term customers in Asia that it would cut their crude oil supplies by five per cent from this month, sources said. The move by the Middle East oil producer followed similar action ...
Small-scale coffee farmers find support.
Nov 01, 2008 ... Byline: Seattle, New Orleans (Image: starbucks.gif ) Starbucks, TransFair USA and the Fairtrade Labelling Organizations International (FLO) have unveiled a groundbreaking initiative that builds upon the organisations' shared history of support for small-scale coffee ...
Deyaar eyes master-planned communities.
Nov 02, 2008 ... Byline: Dubai (Image: deyaar.gif ) Deyaar, the real estate major, has drawn up ambitous expansion plans to build master-planned communities and move to newer markets abroad which are cheaper now due to the global slowdown, said a senior company official. ...
Palm starts marina berth online bidding.
Nov 02, 2008 ... Byline: Dubai (Image: berth.gif ) Island Global Yachting (IGY), the luxury marina developer and management company, has opened its dedicated online auction for residents and owners of Palm Jumeirah offering the opportunity to enter into a berthing agreement at Anchor ...
Hydroponics takes root in Bahrain.
Nov 02, 2008 ... Byline: Manama (Image: hydroponics.gif ) A call has gone out to create village farms across Bahrain, using a revolutionary method called Hydroponics to grow crops for local consumption. Hydroponics, which involves growing plants without soil, could help ...
$272m 'Eco Towers' launched.
Nov 02, 2008 ... Byline: Abu Dhabi (Image: ecotower.gif ) Connection Real Estate, an Abu Dhabi-based property development company, has announced the launch of a Dh1 billion ($272.2 million) twin tower project in the Danet Abu Dhabi community. The mix-use eco-friendly ...
Dolphin begins gas supply to Oman.
Nov 02, 2008 ... Byline: Dubai (Image: dolphin.gif ) Dolphin Energy has started delivering gas to Oman, as part of the key Qatar-UAE-Oman natural gas grid which was planned in 1999, a report said. This deal follows a 25-year Gas Sales Agreement struck in 2005, according ...
Libya, Russia 'sign nuclear deal'.
Nov 02, 2008 ... Byline: Moscow (Image: nuke.gif ) Libya and Russia have signed a deal on civil nuclear co-operation during a visit to Moscow by Muammar Gaddafi, the Libyan president, Tripoli's foreign minister has said. Although Russian officials have not confirmed the ...
Bahrain PM to outline development vision.
Nov 02, 2008 ... Byline: Manama (Image: pm.gif ) Bahrain Prime Minister Shaikh Khalifa bin Salman Al Khalifa is in China to head the Kingdom's delegation to the World Urban Forum in Nanjing, which opens tomorrow (November 3). He will give a speech on his vision regarding ...
UDI joins Interior Design Society.
Nov 02, 2008 ... Byline: Abu Dhabi (Image: udi.gif ) United Design International (UDI), a leading luxury interior design company headquartered in Abu Dhabi, has become a Platinum member of Interior Design Society (IDS). UDI's inclusion in IDS, a US-based independent ...
Growth top priority for China says Wen.
Nov 02, 2008 ... Byline: Beijing (Image: china.gif ) Maintaining strong and stable economic growth amid the current global turmoil is China's main priority, Premier Wen Jiabao has said. He warned of growing domestic social risks from a worldwide economic downturn. ...
Merc compact SUV roars into Saudi.
Nov 02, 2008 ... Byline: Jeddah (Image: merc.gif ) Mercedes-Benz has rolled out its chic and cheerful GLK, the first compact SUV from the market leader, into Saudi Arabia. With its functional yet attractive and striking body lines, standard leather interior, and ...
SAS to cut flight surcharges.
Nov 02, 2008 ... Byline: Dubai (Image: sas.gif ) SAS Scandinavian Airlines has decided to reduce surcharges by 3 euros on domestic, intrascandinavian and European flights and 5 euros on intercontinental flights. The price reductions will come into effect from November 12 ...
Metropolitan Palace Hotel Beirut wins 2 awards.
Nov 02, 2008 ... Byline: Beirut (Image: beirut.gif ) The Metropolitan Palace Hotel Beirut won two awards in 'Lebanon's Leading Hotel' and 'Lebanon's Leading Business Hotel' categories at the recently concluded 15th World Travel Awards. Warwick Janes, operations manager, ...
Iraq trims budget as oil prices plunge.
Nov 02, 2008 ... Byline: Baghdad (Image: budget.gif ) Iraq finance minister said the falling oil price had forced Baghdad to cut its next year's budget to $67 billion at a time when the country craves funds to develop its dilapidated infrastructure. Finance Minister Baqer ...
IFA HR completes KHI share transfer.
Nov 02, 2008 ... Byline: Dubai (Image: ifa.gif ) IFA Hotels & Resorts (IFA HR) said it has successfully completed three share transfers with its joint investment partner Kingdom Hotel Investments (KHI). The two companies transferred minority interests in three of their ...
American expert votes for Oman tourism.
Nov 02, 2008 ... Byline: Muscat (Image: oman.gif ) Costas Christ, one of the world's most internationally acclaimed and respected sustainable tourism experts, had recently vouched that Oman was beautiful, safe and stable, and an amazing destination for American travelers. ...
Nas Air starts Beirut services.
Nov 02, 2008 ... Byline: Riyadh (Image: nasair.gif ) Nas Air, the first budget carrier in Saudi Arabia, has begun flights on the Riyadh-Beirut route, from November 1. 'Lebanon is an attractive destination for nas air, especially with the influx of Lebanese employed in the ...
Dubai Knowledge Village hosts forum.
Nov 02, 2008 ... Byline: Dubai (Image: dkv.gif ) More than 170 senior managers in the UAE attended the Dubai Knowledge Village (DKV) Breakfast Club gathering to learn about best practices in the tourism and hospitality industries and the success story of Jumeirah, an international ...
Dubai H1 polished diamond trade jumps.
Nov 02, 2008 ... Byline: Dubai (Image: diamond.gif ) Dubai's polished diamond trade hit $5.29 billion for the first six months of 2008, said the Dubai Diamond Exchange, a subsidiary of the Dubai Multi Commodities Centre (DMCC), in a report. Imports of polished diamonds ...
InterContinental Mzaar wins best resort award.
Nov 02, 2008 ... Byline: Beirut (Image: mzaar.gif ) Lebanon's mountain resort, InterContinental Mzaar has been named 'Lebanon's Leading Spa Resort' at the prestigious World Travel Awards, held recently in Dubai. 'Our resort's world-class spa, a haven of wellbeing & ...
Emirates plans major expansion in India.
Nov 02, 2008 ... Byline: Dubai (Image: emirates.gif ) Dubai-based airline Emirates will add 31 weekly flights to its existing service in India between now and February 2009. The award-winning carrier has embarked on its second major expansion campaign for India and the ...
Mideast firms planning major expansion in Asia.
Nov 04, 2008 ... Byline: Manama (Image: corporations.gif ) Middle East companies are planning a major expansion into new markets in Asia and the US despite the global economic slowdown. Although corporate investors in the major Gulf economies will be splitting their ...
GII to push for excellence.
Nov 04, 2008 ... Byline: Manama (Image: GII.gif ) The Gulf Insurance Institute (GII) on Monday opened its new Bahrain headquarters at Amwaj Islands. The ceremony was attended by GII board member Qassim Fakhro, who said the institute was looking to develop its human capital ...
UK, Masdar in renewable enegy tieup.
Nov 04, 2008 ... Byline: Abu Dhabi (Image: masdar.gif ) Abu Dhabi-based Masdar and the UK Government on Tuesday signed an agreement announcing collaboration on the development of renewable energy and clean technology solutions. Ed Miliband, the UK's secretary of State for ...
Bahrain upgrades e-gov portal.
Nov 04, 2008 ... Byline: Manama (Image: egov.gif ) People in Bahrain will now have faster and more convenient access to the country's e-government services. Driven by customer needs, the e-government portal address has been changed from www.e.gov.bh to www.bahrain.bh , ...
LMRA online service a success.
Nov 04, 2008 ... Byline: Manama (Image: lmra.gif ) The transparent procedures adopted by Bahrain's Labour Market Regulatory Authority have gone a long way towards eliminating unscrupulous labour market agents, an international conference in the Philippines has been told. ...
The Dubai Mall opens with 600 retailers.
Nov 04, 2008 ... Byline: Dubai (Image: dubaimall.gif ) The Dubai Mall is opening today (November 4) with nearly 600 retailers, marking the world's largest-ever single-day mall opening in retail history. The opening will see the public unveiling of the highly anticipated ...
Gale-force winds lash Bahrain.
Nov 04, 2008 ... Byline: Manama (Image: gale.gif ) Civil Defence personnel had to be called in late on Monday night to try and restore order on Shaikh Isa Causeway in Bahrain after gale-force winds uprooted several hoardings on the road divider and scattered them in the path of ...
Emaar, NBAD lead gains in UAE markets.
Nov 04, 2008 ... Byline: Dubai (Image: emaar.gif ) Stock markets in the UAE edged higher, with Emaar Properties leading a rise in Dubai and National Bank of Abu Dhabi driving Abu Dhabi gains. Emaar climbed 1.34 percent, pushing Dubai's main index up 0.25 percent to 2,914 ...
Agility Q3 profit falls 9pc.(Financial report)
Nov 04, 2008 ... Byline: Kuwait (Image: agility.gif ) Kuwait-based Agility, a leading logistics provider, has posted a 9 per cent decline in third-quarter profit. Net income in the nine months to September 30 was KD107.8 million ($399.3 million), or 105 fils per share, ...
Air Arabia's new Morocco airline to fly early 2009.
Nov 04, 2008 ... Byline: Sharjah (Image: morocco.gif ) Air Arabia's new airline, named "Air Arabia Maroc," will begin operations in early 2009. It will cover Morocco's domestic sector and operate in selected destinations across Europe and Africa. The carrier's second hub ...
CPC, Zahid to set up logistics JV.
Nov 04, 2008 ... Byline: Jeddah (Image: warid.gif ) Construction Products Holding Company (CPC) and Zahid Holding Group have joined hands to set up a new limited liability company, Warehousing and Distribution Holding Company, (Warid) specialising in transportation and logistic ...
Global strategy call 'to help poorer countries'.
Nov 04, 2008 ... Byline: Nanjing (Image: strategy.gif ) Bahrain's Prime Minister on Tuesday called for a major global strategy to help development in poorer countries. Shaikh Khalifa bin Salman Al Khalifa made his appeal in a keynote speech at the opening ceremony in ...
ADNH names Richard Riley as CEO.
Nov 04, 2008 ... Byline: Abu Dhabi (Image: riley.gif ) Abu Dhabi National Hotels (ADNH), a leading hotel, tourism, transport, and catering group, has appointed hospitality industry veteran Richard Riley as chief executive officer of the company. Riley will focus on ...
Singapore unveils medical travel book for Arabs.
Nov 04, 2008 ... Byline: Dubai (Image: singapore.gif ) Healthy Travel Media and SingaporeMedicine have launched the Arabic version of Patients Beyond Borders Singapore Edition, a comprehensive medical travel book aimed at educating Middle East patients about medical travel to ...
Bank signs key sponsorship deal.
Nov 04, 2008 ... Byline: Manama (Image: venture.gif ) Venture Capital Bank will sponsor the events organised by Entrepreneurs Organisation's (EO) Bahrain Chapter. 'We are happy to have Venture Capital Bank as our strategic sponsor for the upcoming year, the first of its ...
UAE pumping billions into manufacturing sector.
Nov 04, 2008 ... Byline: Dubai (Image: manu.gif ) The UAE is investing heavily in its industrial manufacturing sector, stimulated by and the need to diversify the economy and booming economic growth which is fuelling demand for finished products and materials. According ...
Nomura plans are reviewed.
Nov 04, 2008 ... Byline: Manama (Image: nomura.gif ) Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa on Monday received Dr Junichi Ujiie, chairman of Nomura Holdings, the Japanese investment and financial services company. His delegation included Yugo Ishida, senior ...
MBRF pledges 100,000 books for 'Dubai Cares'.
Nov 04, 2008 ... Byline: Dubai (Image: mbrf.gif ) The Mohammed bin Rashid Al Maktoum Foundation (MBRF) announced its support for Dubai Cares' One Million Book Challenge, by pledging 100,000 books to children in need across the Arab world. The Foundation's prompt response ...
Royal Jet begins new Emiratisation program.
Nov 04, 2008 ... Byline: Abu Dhabi (Image: royaljet.gif ) Royal Jet, the Abu Dhabi-headquartered international luxury executive flight services company, has started a new Emiratisation program aimed at attracting the cream of Emirati graduates. Following approaches to Abu ...
LG, Microsoft sign MoU on mobile convergence.
Nov 04, 2008 ... Byline: Dubai (Image: lg.gif ) LG Electronics and Microsoft have signed a Memorandum of Understanding (MoU) to form a strategic collaboration in Mobile Convergence. The agreement was signed in Seoul by Yong Nam, vice-chairman and chief executive officer ...
Crescent, Dana eye 4 gas cities.
Nov 04, 2008 ... Byline: Dubai (Image: dana.gif ) Crescent Petroleum and affiliate Dana Gas are planning to set up at least four gas cities in the Middle East and North Africa region. Crescent's executive director Majid Jafar told the Reuters Middle East Investment Summit ...
Gulf oil refineries 'a health hazard'.
Nov 04, 2008 ... Byline: Manama (Image: hazard.gif ) Some of the Gulf region's oil refineries are more dangerous to the environment and human health than nuclear plants, experts said in Bahrain on Monday. Such refineries in Bahrain, Saudi Arabia, Kuwait, Oman and Qatar ...
BNY Mellon names ME head of asset management.
Nov 04, 2008 ... Byline: Dubai (Image: tom.gif ) BNY Mellon Asset Management, the global asset management arm of The Bank of New York Mellon, has appointed Thomas Connolly as managing director, head of asset management for the Middle East region. Connolly will be ...
Enoc names Petri Pentti as CFO.
Nov 04, 2008 ... Byline: Dubai (Image: enoc.gif ) UAE oil retailer Emirates National Oil Company (Enoc), has appointed Petri Pentti as its new group chief financial officer, a report said. Pentti has more than 22 years of experience in the energy, aviation and metal ...
Adipec sees record turn-out.
Nov 04, 2008 ... Byline: Abu Dhabi (Image: adipec.gif ) Abu Dhabi International Petroleum Exhibition and Conference (Adipec), one of the world's largest oil and gas events, opened to record crowd with over 18,000 international and regional visitors flooding through its doors on the ...
Abyaar 9-month net surges to $90m.
Nov 04, 2008 ... Byline: Kuwait (Image: abyaar.gif ) Abyaar Real Estate Development, a leading luxury developer in the Middle East, said its net profit for the first nine months of 2008 almost doubled to KD24.3 million ($90 million) from KD12.5 million ($46.3 million) last year. ...
GE Energy wins Marafiq award.
Nov 04, 2008 ... Byline: Jeddah (Image: marafiq.gif ) GE Energy said it has won the inaugural 'Power and Utility Company for Jubail and Yanbu (Marafiq) Award for Sustainability from Marafiq, a Saudi Arabian integrated utility company. Created to celebrate and encourage ...
Bahrain's Naseej asked to postpone IPO.
Nov 04, 2008 ... Byline: Manama (Image: naseej.gif ) The planned Initial Public Offering (IPO) for Naseej, a fully integrated real estate and construction solutions provider, has been postponed on the instructions of the Central Bank of Bahrain (CBB). The CBB, the ...
EPS becomes zero carbon emission firm.
Nov 04, 2008 ... Byline: Dubai (Image: eps.gif ) Abu Dhabi based Enviromena Power Systems, has secured international certification that it is a zero carbon emission company, a report said. It became the first company in the UAE to obtain the carbon neutral certificate from ...
Al Khaliji to enter DSM 20 Index.
Nov 04, 2008 ... Byline: Doha (Image: dsm.gif ) Al Khaliji and three other companies will enter the DSM 20 Index with effect from January 1, 2009. The index is used as a performance benchmark for stocks listed on the Doha Securities Market. Al Khaliji also participated in ...
Swiss Re posts surprise loss.(Financial report)
Nov 04, 2008 ... Byline: Zurich (Image: swiss.gif ) Swiss Re, the world's second-biggest reinsurer, reported a surprise third-quarter net loss of 304 million Swiss francs ($263.2 million), hurt by investment losses. Zurich-based Swiss Re said on Tuesday it wrote down ...
Virgin Galactic to showcase at space forum.
Nov 04, 2008 ... Byline: Dubai (Image: virgin.gif ) Virgin Atlantic's commercial director Stephen Attenborough will join a host of global space experts who will present space projects and opportunities for investors at the Global Space Technology Forum, to be held in Abu Dhabi. ...
Shuaa Capital reports $101m net loss in H1.(Financial report)
Nov 04, 2008 ... Byline: Dubai (Image: shuaa.gif ) Shuaa Capital said it has posted a net loss of Dh371.1 million ($101 million) for the first half to the end of September 30, 2008 due to the global market downturn which has affected all equity markets around the world. ...
Education reform projects on way in Bahrain.
Nov 04, 2008 ... Byline: Manama (Image: reforms.gif ) Four key projects that aim to introduce fundamental reforms to Bahrain's education sector will be launched over the coming four weeks, it was announced on Monday. The projects are the first phase of the National ...
IndiGo signs Bahrain's WTS as sales agent.
Nov 04, 2008 ... Byline: Manama (Image: indigo.gif ) India's low-cost domestic airline IndiGo on Monday announced Bahrain's World Travel Service (WTS) as its general sales agent in the country. Addressing a Press conference at the InterContinental Regency Hotel, airline's ...
ABC financial crisis losses top $974m.
Nov 05, 2008 ... Byline: Manama (Image: abc.gif ) Bahrain-based Arab Banking Corporation (ABC) has made a further $234 million provision against the effects of the credit crunch in the third quarter of the year. This takes the provisions against the crisis to $974 million ...
CBK registers net profit of $437 million.(Financial report)
Nov 05, 2008 ... Byline: Kuwait City (Image: cbk.gif ) Commercial Bank of Kuwait (CBK), the country's third-largest lender by market value, said it posted net profit of 118 million Kuwaiti dinars ($436.9 million) in the first 10 months of the year and hopes to reach its goal of 20 ...
Diyar hails exhibition success.
Nov 05, 2008 ... Byline: Manama (Image: diyar.gif ) Property Arabia gold sponsor Diyar Al Muharraq has celebrated its first successful participation in the real estate exhibition. On the last evening of the event, chairman Abdulhakeem Al Khayyat and chief executive officer ...
Islamic finance challenges to be reviewed.
Nov 05, 2008 ... Byline: Manama (Image: islamic.gif ) The challenges and opportunities of Islamic banking and finance especially in the current international financial environment will be discussed at a key conference in Bahrain. The AAOIFI-World Bank Annual Conference for ...
Banks' association set to play key role.
Nov 05, 2008 ... Byline: Manama (Image: cbb.gif ) The new-look Bahrain Association of Banks (BAB) is a new slimmer organisation for the industry. And it is ready to make a bigger contribution to both the kingdom's banking sector and its growth as a regional and global ...