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Discuss this article (0 Comments)Arabic Press Review - Sept 17
by This email address is being protected from spam bots, you need Javascript enabled to view it on Monday, 17 September 2007
In today's Arabic press, the UAE's Al Itthad newspaper reveals that passenger traffic through Abu Dhabi International Airport reached 707,671 in August, a 32% rise over passenger numbers a year earlier.
Cargo volumes through the airport rose 14.5% to 27,015 tonnes, the newspaper said.
The number of aircraft movements increased 10% during the same period, rising from 6,156 in August 2006 to 6,785.
Abu Dhabi Airports Company - which officially took over operation and management of Abu Dhabi and Al Ain international Airports last September - is planning re-development and expansion of Abu Dhabi International Airport.
Plans include a the new midfield terminal designed to increase the overall capacity of the airport to 20 million passengers by 2010.
***
In the Kuwaiti press, Arabic newspaper Al Jarida reports that Islamic lender Kuwait Finance House (KFH) wants to market several investment products and services in Asia.
The company is eyeing Indonesia, the Philippines, China and Malaysia in particular, the paper said.
The move comes as the KFH plans to work with other Islamic lenders in the Gulf as it aims to become a "major" player in the market for secondary Islamic bonds, or sukuks, Kuwait's Al Rai Al Aam reported today.
...and in other news...
Al Watan, Saudi Arabia: Financial analysts including Shura Council member Ihsan Bu-Hulaiga expect rising inflation to prevent the Saudi central bank from matching a possible cut in interest rates by the U.S. Federal Reserve.
Al Khaleej, UAE: The UAE may attract $100 billion of investments by 2011, according to a report by the Economist Intelligence Unit. Foreign direct investment may increase $16 billion over the period to $44 billion.
Al Ittihad, UAE: Dubai will launch a satellite, DubaiSat-1, by 2009, said the Emirates Institute for Advanced Science and Technology (EIAST). EIAST has teamed up with Russia's Federal Space Agency for the project.
Al Ittihad, UAE: Investments in Abu Dhabi from local and foreign investors may touch 1 trillion dirhams ($272.3 billion) over the next few years, said Abu Dhabi Chamber of Commerce. Investment this year would exceed the total of 295 billion dirhams in the last six years.
Al Qabas, Kuwait: Logistics provider Agility and one of its units expect to secure a 250 million dinar ($889.7 million) loan from one of Kuwait's biggest banks to fund a project in Iraq.
Al Rai, Kuwait: Commercial Bank of Kuwait wants to start an Islamic investment fund after winning central bank approval. Details of the fund are still being worked out.
Al Bayan, UAE: National Bank of Dubai opened its third branch in Abu Dhabi, part of a plan to expand in areas that have potential. The branch is located in the Musaffah industrial area.
Al Bayan, UAE: Land deals worth 164.98 million dirhams were transacted in Dubai on Sunday, including 86.69 million in property sales, the Dubai Land Department said in its daily report.
Al Eqtisadiah, Saudi Arabia: Saudi Al-Tuwairiqi Steel is among firms bidding for a stake in Egypt's Arab Company of Steel (Arcosteel).
Al Eqtisadiah, Saudi Arabia: Sixty-two percent of Saudi households own their properties, the kingdom's Economy and Planning Minister said. The figure does not include foreign residents.
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