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UAE oil reserves enough to support growth for 30 years
Published February 9, 2010, 9:00 pm, Zawya
Dubai The UAE's oil reserves, its well-developed infrastructure and the current investments in projects are enough to support the country's growth for the next 30 years, Ahmad Humaid Al Tayer, Governor of the Dubai International Financial Centre (DIFC), told a seminar in Dubai yesterday.
'Bad loans not expected to increase this year'
Published February 9, 2010, 8:45 pm, Zawya
Non-performing loans (NPLs) are not expected to increase this year hence there should be no need for more provisions, said a senior official.
Aramex, Emirates NBD, Gulf Finance House: Gulf Equity Preview
Published February 9, 2010, 8:15 pm, Bloomberg
Feb. 10 (Bloomberg) -- The following stocks may rise or fall in Persian Gulf markets. Stock symbols are in parentheses and prices are from the last close.
Mideast defaults to jump after Dubai debt crisis: S&P
Published February 9, 2010, 12:21 pm, Gulf Times
Zawya Dow Jones /Dubai Standard & Poor’s, the ratings agency, expects more corporate defaults in the Middle East after Dubai World’s debt crisis but doesn’t foresee a change in the creditworthiness of Gulf Co-operation Council (GCC), states, a senior executive said.
Emirates NBD Launches Jersey Offshore Deposits
Published February 9, 2010, 7:35 am, Bernama
DUBAI, Feb 9 (Bernama) -- Emirates NBD, has announced the launch of Jersey Offshore Deposits, an attractive and flexible multi-currency fixed-deposit product, offering easy international access, potential tax efficiencies and total confidentiality, Emirates News Agency (WAM) reported.
U.A.E. Shares Gain on Speculation of Improved Banking Earnings
Published February 9, 2010, 6:00 am, Bloomberg
Feb. 9 (Bloomberg) -- United Arab Emirates share rose for a second day as investors speculated Dubai’s biggest lenders may report improved earnings later this month and as the country’s central bank governor said economic growth will accelerate.
Kuwait forecasts $25.7bn deficit in 2010/11 budget
Published February 9, 2010, 4:14 am, Arabian Business
Income in the fiscal year which starts on April 1, 2010 is seen at KD9.72bn ($33.72bn).
Emirates to be AC Milan’s new shirt sponsor
Published February 9, 2010, 4:07 am, Arabian Business
Dubai-based carrier's four-year deal with football club is said to be worth nearly $70m.
Dubai-listed Aramex appoints new COO
Published February 9, 2010, 3:51 am, Arabian Business
Osama Fattaleh resigns to pursue personal business interests, after more than 20 years with logistics firm.
U.A.E. Central Bank Sees Bad Loans Increasing to 6.4% (Update1)
Published February 9, 2010, 3:45 am, Bloomberg
Feb. 9 (Bloomberg) -- Non-performing loans in the United Arab Emirates will probably increase to about 6.4 percent of all credit, from 4.4 percent in 2009, a senior central bank official said today.
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