CAIRO: Data coming from the United Arab Emirates on Wednesday has posted inflation to its highest rate in 9 months on an annual basis in April, despite an ongoing price decline in its trade and business hub Dubai. Annual consumer price growth in the $360 billion economy, the second largest among Arab countries, picked up [...]
DUBAI: Although he has denied the charges, an Emirati man is facing court charges in the United Arab Emirates after he reportedly posed as a police officer in January and raped a Filipina clerk. According to a report published by the Khaleej Times on Saturday, the 31-year-old Emirati, pretending to be a cop, threatened to [...]
ABU DHABI: “Reducing the turnaround time of crediting to bank accounts, to real time, for our Filipino customers, is our aim. FLASHremit enables us to address it perfectly, taking money transfer to the next level,” said Mr. Y. Sudhir Kumar Shetty, COO – Global Operations, UAE Exchange, talking on the occasion of UAE Exchange joining [...]
United Arab Emirates (UAE) authorities have expanded their crackdown on peaceful political activists with the recent arrests of two more members of a non-violent political association advocating greater adherence to Islamic precepts, Human Rights Watch said. The new arrests, of Saleh al-Dhufairi and Salem Sahooh, bring to 11 the total number of detained members of [...]
CAIRO: Dubai-based mobile operator DU has post a rise in its 1st quarter profits of 61.8 percent, scoring net income for the first three months of the year increased to AED 666 million ($181 million) from AED 412 million a year earlier. Company, also known as Emirates Integrated Telecommunications said in a press release “We [...]
DUBAI: Malaysia is currently in debate over the law on foreign workers in the United Arab Emirates after rights activists and workers pushed the government to look into the situation facing Malaysians working in the wealthy Gulf country. Deputy Prime Minister Tan Sri Muhyiddin Yassin said the matter was discussed at length during his meeting [...]
DUBAI: The phone sits on the table at the cafe as Mariam sips her tea and pushes smoke from her water-pipe from her lips. She is waiting for positive news on a court case against an Emirati man charged with attempting to rape a Filipina maid in the country. “We too often have to hope [...]
CAIRO: Abu Dhabi’s government will invite bids for a new t water and power project, its ninth facility, by September as it boosts capacity to meet rising demand in this vital sectors, sources told reporters on Wednesday. “Advisors for the project will be appointed first and the process of prequalifying companies will start in about [...]
CAIRO: Egypt’s indices rallied to a 7-week high, amid optimism about a smooth president election, and the first increase in foreign reserves since 2010. EGX30, the main index, rose 0.6 percent to close at 5056 points, its highest close since March 22, rising for a fourth straight session. Central bank figures on Sunday showed Egypt’s [...]
CAIRO: Egypt indices have ended the first session of this week up over EFG-Hermes’ announcement that it sealed a deal to form a venture with Qatar’s Qinvest, a tie-up that will impact listed companies that EFG has stakes in. EGX30, the main index, rose 0.9 percent or 44.63 points to close at 4973.62, trimming its [...]
CAIRO: Egypt’s indices ended the weekly sessions on Thursday by rebounding after a relative calmness returned to the restive Abbassiya area of Cairo, after several demonstrators were confirmed killed yesterday. EGX30, the main index, closed higher 0.46 percent or 24.3 points to close at 4929 points, as foreigners Arab investors were buying intensively over a streak of [...]
CAIRO: The UAE said Thursday that its strategic oil pipeline for bypassing the Strait of Hormuz is complete and exports are expected to start within three months, UAE Oil Minister Mohammed al-Hamli, said in a press conference in Paris. “The pipeline is complete and now it’s being tested,” Hamli said. “It’s filled with crude now [...]
CAIRO: Egypt’s indices ended its daily session on Wednesday dipping, as deadly clashes resulted in estimates of 15 killed, and 45 injured near the Ministry of Defence, in Cairo’s Abbassiya. EGX30, the main index dipped 0.77 percent to close at 4906.60 points, trimming its gains in 2012 to 35.46 percent. EGX 70, index of the leading smaller and [...]
CAIRO: Saudi’s benchmark has ended its daily session Tuesday slumping, as the petrochems sector dipped amid investors booking gains for 1st Q of 2012. TADWL, the main index fell 0.2 percent to close at 7545 points, closing lower for a second session in three as investors book profits. Heavyweight Al Rajhi Bank adds 0.6 percent; and [...]
CAIRO: Emirati carrier, Etihad Airways, has confirmed on Tuesday it had acquired a 2.987 percent stake in Aer Lingus, the flag carrier of Ireland, which operates a fleet of Airbus aircraft serving Europe, North America and North Africa, according to a press release. “A possible partnership could produce significant commercial benefits for both airlines, [...]
CAIRO: Dubai’s official officer has said on Tuesday that the government will employ $1.25 billion raised through an Islamic bond “sukuk” last week to fund the expansion of its airport, and sees no risk to repaying creditors at its flagship conglomerate Dubai World on time. Sheikh Ahmed bin Saeed al Maktoum has told Reuters [...]
CAIRO: An airport policeman stands accused of stealing an iPhone from the box where passengers put their belongings for scanning at Dubai airport, the Dubai Criminal Court heard. Additionally, he is also accused of altering a “lost and found” document. On February 19, the officer was on duty near a scanning machine at the airport. [...]
CAIRO: Gulf bourses ended their weekly sessions in mixed zone, as investors await for earnings results, to book recent gains. Dubai ‘s benchmark fell 0.5 percent to close at 1652 points, as lots of investors are waiting for bellwether Emaar Properties to post first quarter earnings, expected on Sunday. Capita’s Abu Dhabi’ benchmark declined 0.2 [...]
CAIRO: Dubai has successfully finished issuing a dual-tranche Islamic bond of $1.25 billion, which will provide enough funds to its budget’s deficit, and refinancing plan, according to a governmental officer statements on Thursday. Dubai priced on Wednesday a $600 million 5-year tranche at 4.9 percent and a $650 million 10-year tranche at 6.45 percent and [...]
CAIRO: Abu Dhabi benchmark has ended its daily session on Wednesday surging, as heavyweight banks end higher, after posting estimate-beating earnings, lifting the emirate’s bourse ADMSI, capital’s main index, gained 0.28 percent or 7.10points to close at 2512 points, up for third session since Sunday’s nine-week low. National Bank of Abu Dhabi climbs 0.9 percent. [...]
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