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Yahoo! Maktoob aims to double users in two years
22 Nov '09 | Technology / News
Maktoob from Yahoo! aims to double its number of Arab users over the next two years, the company said at the official launch in Dubai this weekend.The acquisition of the Maktoob.com by Yahoo!, the California-based US internet giant, was completed over a week ago, said Ahmed Nassef, the general ...
Merger technical talks to conclude in a month - Emaar
21 Nov '09 | Real Estate / News
Dubai's largest listed real estate firm Emaar Properties expects "technical talks" for its planned merger with state owned developers to be concluded within a month, its chairman said in remarks aired on Saturday.The new firm will announce new projects after the merger, Mohamed Alabbar told Al ...
Tamweel, Amlak merger seen in Q1 2010
20 Nov '09 | Banking & Finance / News
The long-planned merger between troubled Dubai mortgage firms Tamweel and Amlak is expected to be completed in the first quarter of 2010, Tamweel's chairman said on Friday."The annual general meeting is the end of the year, Q1 will be the right time for it," Sheikh Khaled bin Zayed al-Nahyan said ...
Tamweel records 95% fall in Q3 profit
22 Nov '09 | Islamic Finance / News
Troubled Dubai Islamic mortgage lender Tamweel's returned to profit after posting losses for three consecutive quarters, but its third-quarter earnings plunged 95 percent as it took provisions.Tamweel and rival Amlak Finance are expected to be merged in the first quarter of 2010, Tamweel's ...
UAE indexes extend losses; property weighs
19 Nov '09 | Financial Markets / News
Dubai's index DFM ended lower for the fifth session in six as losers outnumber gainers 16 to three.Declines were broad, with only the banking sector escaping unscathed. Emaar Properties fell 2.3 percent to a week-low, Dubai Financial Market dropped 3.1 percent and telecoms firm du lost 4 percent. ...
Saudi plans boost to petro production
9 Nov '09 | Construction & Industry / News
Saudi Arabia plans on boosting petrochemical production in the kingdom by adding new plants which will rely less on gas and more on liquid hydrocarbons for feedstock, the country's oil minister has said.Nearly half of Saudi gas is produced as a by product of crude, so volumes fluctuate with oil ...
Plain sailing
30 Oct '09 | Transportation / Interviews
The former CEO of DIFC Authority Nasser Alshaali reveals why he’s swapped the trading floor for the factory floor, with a career move to the UAE’s largest boat maker, Gulf Craft.Judging by his career, Nasser Alshaali likes a crisis. Take his tenure at Dubai International Financial Centre. In 2004, ...
Indian opportunity
27 Oct '09 | Technology / Features
With MENA operators eyeing opportunities in India, analysts at Frost & Sullivan and Ovum give CommsMEA the lowdown on one of the world’s fastest growing telecom markets.Recent months have been marked by headlines that indicate growing connections between the telecoms sectors of the MEA region and ...
Dubai mortgage firms to form Islamic bank -minister
9 Oct '09 | Islamic Finance / News
A UAE state panel overseeing the restructuring of two troubled Dubai mortgage lenders is recommending merging them into an Islamic bank early next year, the UAE economy minister said.The fate of a merger between Amlak and Tamweel has been under review by a federal government committee headed by the ...
Bourse supremacy
17 Sep '09 | Banking & Finance / Features
National pride is likely to prevent Gulf stock exchanges from merging. But like with the region's many airline carriers, there will be winners and losers.When the Bahrain Financial Exchange (BFX), the island kingdom's second bourse, opens its doors in the first quarter of next year, the GCC will ...
Saudi Air to offer unit for IPO in Q3 2010
16 Oct '09 | Transportation / News
Saudi Arabian Airlines will offer 30 percent of it's catering unit through an initial public offering in nine months as part of the national carrier's latest efforts to privatise, its top executive told Reuters.Khalid Almolhem, director general of the airlines, also said Saudia will merge its ...
UAE set to simplify residency process for expats
13 Oct '09 | Culture & Society / News
UAE authorities have said they plan to simplify the process of settling in the country from next July by merging residency permits, labour cards and ID cards into one process.Currently, those processes require trips to several different offices around the city but under the new system, applicants ...
Jobs abound in media shake-up
13 Oct '09 | Media & Marketing / Comment
In the last six months, we have seen a massive shake-up within the Middle East broadcast industry. A substantial number of job opportunities have opened up in Abu Dhabi thanks to new initiatives from twofour54 as well as the launch of several private broadcast entities. Abu Dhabi is aggressively ...
Dubai Holding pays in full $250m loan
12 Oct '09 | Banking & Finance / News
Dubai Holding Commercial Operations Group (DHOG), the holding company of Dubai Holding’s Property, Business Parks, and Hospitality verticals, announced on Monday it had repaid in full a $250m loan to BNP Paribas.The bilateral loan, taken out as a general corporate facility, was repaid on the ...
Architecting enterprises
11 Oct '09 | Technology / Interviews
Enterprise Architecture (EA) as a field is still relatively unknown to the region. Tamás Nacsák, chief enterprise architect at HP’s EDS subsidiary and Peter Lakhegyi, regional sales manager for EA specialist AAM Technologies, clarify the field with Imthishan Giado. How would you define enterprise ...
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