» Dubai ruler celebrates 11th accession anniversary by giving more
04/01/17 08:24 from Finance and Economy
* HH Sheikh Mohammed celebrates his 11th anniversary as ruler of Dubai on January 4 * He has launched UAE’s first Food Bank as part of “Year of Giving” * Food Bank goal is to achieve zero food waste   His Highness Sheikh Mohammed bi...

» Chevron resumes operation at Gorgon LNG train 1 after month-long outage
04/01/17 06:57 from Finance and Economy
* Gorgon LNG train 1 resumes operation: spokesman * Asian spot LNG prices at near 2-year high Chevron Corp said on Wednesday it has resumed production of liquefied natural gas (LNG) at one of its two units at the $54 billion Gorgon proje...

» Dubai mortgage lender Amlak renegotiates part of 2014 debt deal
04/01/17 06:46 from Finance and Economy
* Amlak reached restructuring deal following government cash injection and six years of negotiations * “Super majority” of creditors have formally approved new business plan * Changes will be in full compliance with central bank rules fo...

» UAE, Qatar may stay firm, Saudi stagnates on oil
04/01/17 06:37 from Finance and Economy
* In Dubai, Amlak Finance may attract interest * MSCI’s broadest index of Asia-Pacific shares outside Japan is up 0.1 per cent * Middle East fund managers bullish on regional equities in general: survey   Stock markets in the United...

» Siemens signs long-term service agreement for Qatar power plant
04/01/17 06:07 from Finance and Economy
Siemens has been awarded a 25-year long-term service agreement for the planned Umm Al Houl combined cycle power plant in Qatar. The customer is Umm Al Houl Power Q.S.C., a company established through a partnership among Qatar Electricity...

» Daily brief: Dubai ruler launches UAE Food Bank, oil prices edge up
04/01/17 06:00 from Finance and Economy
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched the first UAE Food Bank, on the day marking the anniversary of his accession as a Dubai ruler.   Sheikh Mo...

» Sharjah’s AED22 billion budget for 2017 to focus on infrastructure
03/01/17 13:39 from Finance and Economy
* Infrastructure represents nearly 31 per cent of the state budget * Total spending will see an increase from AED20.3 billion in 2016 * 20 per cent of the budget will be allocated towards cultural and educational aspects Sharjah has appr...

» Dubai Financial Market planning to allow short-selling
03/01/17 13:12 from Finance and Economy
* Move planned to increase trading liquidity * Gulf regulators have shied away till now due to fears it will destabilise markets * Bourse plans to introduce covered short-selling in Q1 2017   Dubai Financial Market (DFM) , the Gulf&...

» Exec pay is crying out for a race to the bottom
03/01/17 13:04 from Finance and Economy
* Corporate pay packages are today extremely high compared to average workers’ * Countries are debating rough rules on executive pay to defeat this scenario * There are chief execs who take very little pay, but take a lot in terms of sto...

» Oman seeks banks’ proposals for dual-tenor international bond issue: sources
03/01/17 12:49 from Finance and Economy
* Sultanate has asked international lenders to submit proposals for a US dollar debt transaction * Source: government keeping an open mind on whether issue would be in conventional bonds or sukuk * Oman’s budget deficit is forecast...