The insurance sector in Bahrain posted strongest annual growth in 2007 with gross premiums surging 21 per cent to BD135.6 million (Dh1,321m) against BD112.4m in 2006, the Central Bank of Bahrain said (CBB). Life insurance contributed the lion’s share of growth, soaring by nearly 67 per cent, with medical and the traditionally strong motor business …
International bank HSBC has raised 4.6 billion Qatari riyals ($1.3 billion) for Qatar’s Al Wa’ab City – a mixed-use development in Qatar – using a variety of sources including debt, mezzanine and equity funding sources. HSBC was appointed as Financial Advisor by the $3.2bn (Dh11.7bn) Al Wa’ab City. Kapil Chadda, Head of Investment Banking in …
Lire la suite HSBC raises $1.3bn for Al Wa’ab City in Qatari capital
People in Dubai were up early to take part in the Pink Walkathon to raise awareness for breast cancer.
Gulf News went to Kish to report on the large influx of people who are travelling there on so-called ‘visa runs’.
Financial turbulences in global markets failed to create any adverse impact on Omani banks, which recorded a robust performance in the third quarter, said a recent study. The non-fee income of the banks declined marginally but they maintained a strong performance due to growth in core income. The combined profits of the listed banks rose …
Lire la suite Omani banks show robust performance amid crisis
For Dubai Drydocks World, the ongoing international financial crisis is not a problem but an opportunity, said the head of Dubai World – the group that owns the company. In an interview with Emirates Business, Sultan Ahmed bin Sulayem, Chairman of Dubai World, said it is important to know when and where to invest to …
Lire la suite Interview Sultan Ahmed bin Sulayem, Dubai World
Abu Dhabi plans to create a second city centre to accommodate a projected threefold growth in population. « We are creating the Capital City District, with a population of 350,000 to 380,000 residents, » Falah Al Ahbabi, General Manager of the Abu Dhabi Urban Planning Council told Bloomberg. « It will form a second centre for Abu Dhabi, …
Energy projects in Gulf oil producers have become the latest victim of the festering global financial crisis as it is depriving them from funding and discouraging full capacity expansions, according to officials and experts. Besides worsening fund shortages, the crisis has already sharply depressed oil prices and is set to smother global demand which is …
Lire la suite Financial crisis hampers Middle East energy projects
National Bank of Kuwait, the country’s biggest lender by assets, said on Sunday was not affected by the troubles of smaller lender Gulf Bank and expected to meet its 2008 profit target. « Business is going normally. On the contrary, there is a flight to quality. We are seeing deposits are coming to us, » Chief Executive …
Plunging oil prices and a stronger dollar will bring the UAE’s annual inflation rate down to seven per cent from its last measured point of 11 per cent, a top official has said. The lower price of oil has brought local diesel prices down while the weaker European currencies will result in cheaper imports of …
