Dubai has set up a supreme financial committee to deal with its sovereign debt as well as challenges arising from the global financial crisis, a senior official said yesterday. Nasser Al Shaikh, Director-General of the Dubai Department of Finance, said the committee was established about eight weeks ago and would look at the various challenges …
National Bank of Fujairah (NBF) yesterday said that Steve Mullins has stepped down from the post of chief executive officer with immediate effect, while Tim Goddard and Chris Taylor will together act as joint interim CEO. NBF Deputy Chairman Easa Saleh Al Gurg said: « National Bank of Fujairah is an ambitious bank. Our potential is …
Lire la suite National Bank of Fujairah chief executive resigns
Doha Bank, Qatar’s third- biggest bank by assets, said yesterday it would seek shareholder approval to raise its capital by up to 20 per cent and give that stake to the country’s sovereign wealth fund, the Qatar Investment Authority (QIA). Shareholders would meet on December 21 to discuss the plan, which would involve issuing up …
Etisalat is in an upbeat mood and is scouting for a number of deals in the region, Emirates Business has learnt. Ahmad Abdulkarim Julfar, Chief Operating Officer, said the company is set to take advantage of the global financial crisis and is eyeing regional acquisitions. « This financial crisis creates a good environment for opportunities so …
A new private aviation services centre at the Dubai International Airport will consolidate the importance of Dubai on the world travel map, said Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority and Chairman of Emirates Group. He said the new centre will be a qualitative addition to the list of distinguished …
Lire la suite Dubai Airport gets private aviation services centre
Sharjah based Maritime Industrial Services (MIS) has completed the first ever offshore jack-up rig to be constructed in the Middle East. The move is expected to boost the profile of MIS in the region and also position the Middle East as an upcoming market for jack-up rig new builds. The SeaWolf Oritsetimeyin (Hull 104), which …
Dubai’s debt is manageable and is far lower if compared to the debt-GDP ratios of other developed countries such as the UK, Germany and the US, according to Sameer Al Ansari, Executive Chairman and Chief Executive Officer of Dubai International Capital. In his remarks to the Leaders in Dubai forum yesterday, he said the resources …
The Gulf will continue to grow, albeit at a slower rate, indicating that GCC is not in a crisis, said experts. Dr Muhammad Al Jasser, Vice-Governor, Saudi Arabian Monetary Agency (Sama), said: « Do you even know the real picture? We are receiving winds of contagion from the West but we do not have the crises …
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has approved the design of the seventh crossing over Dubai Creek to be known as the « Dubai Smile ». The project, with an estimated cost of Dh810 million, will run between Dubai Creek Park, Wonderland Park and …
Rental yields expanded in October on the back of lower asset prices and a tight supply market, as gross yields increased to 6.3 per cent from 4.7 per cent in September, said a new report. « Rental demand is likely to remain robust as we sense potential buyers are deferring their plans until there is better …
Lire la suite Lower asset prices and tight supply drive rental yields up
