Saudi’s largest food firm sees Q3 net income plunge 72% after capital gain last year.
Author Archives: Staff Writer
Industries Qatar cashes in on global demand
Country’s largest firm sees profit rise 39% in Q3 on sale of chemical and fertiliser products.
The World’s ‘Shanghai’ island sold for $28mn
Nakheel sells island on man-made archipelago to prominent Chinese businessman.
Hyatt International to operate 5 star hotel at Capital Gate in Abu Dhabi
Hotel will be Hyatt first facility in Abu Dhabi.
Four Seasons Resort is Spa Finder award winner
The Four Seasons Resort Sharm el Sheikh wins an accolade at Spa Finder reader’s choice awards 2007.
Top Japanese consortium to visit UAE with “green” proposal
Japanese delegation proposes a sustainable city based on eco friendly urban development and architecture.
High roller
Rolls-Royce CEO Ian Robertson on how the iconic brand bounced back to the forefront of luxury motoring.
Microsoft fixes nine security holes
Software giant’s latest security update includes patch for flaws in Internet Explorer.
Rides and slides
Sarah Gain reports on the spate of theme park projects that have been announced around the region.
Dubai takes second crack at US market
Undeterred by P&O scandal Dubai World plans to set up $600mn logistics and business park in US.
Yamamah Cement rides building boom
Saudi Arabia’s second-largest cement maker sees Q3 net income surge 57% to $61mn on higher sales.
True price of oil above $100 a barrel
Qatar says price is justified by mounting inflation, drop in purchasing power and weakening dollar.
Aqua-fine
Ben Graham admits Dubai-based Team Aqua never expected to be leading the RC44 racing championships.
Taqa’s Canadian takeover to escape scrutiny
Industry Minister Prentice says acquisition of PrimeWest not subject to security test.
Chicken Little’s hotel lesson
Hotel marketing coach Neil Salerno says hoteliers have nothing to fear from the proliferation of ‘social media’ websites where guests post comments — good and bad — about their properties.
The colour of money
Airline executives may have to cut their cloth accordingly if recent profit figures are anything to go by.
See you at Cityscape…
Got $5mn or more to invest in property? I’ll see you at Cityscape Dubai this month then.
Urban decay: the fluoride debate
Few things in dentistry split clinicians like the topic of introducing fluoridation to the central water supply.
Dubai firm in Baghdad shooting
Unity Resources becomes second private contractor in month accused of killing Iraqi civilians.
Group seeks $1.2bn for steel plant
Japan’s Yamato Steel and Gulf consortium Foulth in talks with lenders to fund plant in Bahrain.
Gulf firms raise $4.8bn in IPOs
Figures reflect growing capital base and confidence in regional markets, according to Ernst & Young.
Abu Dhabi inflation hits 11.3%
Emirate’s annual inflation in June increased from 8.3% at end of 2006, driven by rents and fuel costs.
France, Russia closer on Iran
French President says countries have moved closer in views but disagree over Tehran’s intentions.
IAEA in talks with Tehran
UN nuclear watchdog visits Iran to clear up questions about country’s controversial atomic programme.
Swedish crime unit probes OMX bid leak
Economic Crimes Bureau to investigate possible leak of information over joint bid for bourse owner.
Kuwait blasted over corruption ranking
Watchdog calls for immediate measures as country falls 14 places in world corruption index.
French MPs approve Abu Dhabi Louvre
UAE branch gets go-ahead despite opposition from experts who say institution will be cheapened by move.
HP makes deal with UAE colleges
Tech firm to supply 4,000 special-price tablet PCs to students in the UAE.
Limitless unveils $61bn Dubai mega-project
State-owned property firm to build 75km canal and waterfront development in emirate.
New wave
After a quarter of a century, the satellite communications industry is entering it’s most exciting month of change since the first launch in 1979.
Dubai World Central promoted in Sweden
Dubai World Central International Airport (JXB) recently exhibited at the 13th World Route Development Forum 2007.
Lebanese lender chooses Temenos
Banque Libano-Française will implement the T24 core banking system across its 32 branches.
Raka to unveil Abu Dhabi residential towers
Saudi Arabian real estate developer to launch three residential towers for the emirate at Cityscape.
Plastic surgery prices rocket in Dubai
Dubai wants to attract healthcare tourists, but is now one of the most expensive places in the world for cosmetic surgery.
Tameer to promote $500mn Jordan project
Dubai property firm will push Madinat Al Majd development at Cityscape.
Optical access
Commercial and regulatory constraints have been largely blamed for inhibiting the commercial deployment of FTTx access technology across the globe. CommsMEA explores the business case for Middle East operators.
Etisalat, Zain forerunners for Qatar licence
One of regional telco giants most likely to get Qatar’s second mobile licence, analyst predicts.
World’s most luxurious residences floats into town
US venture targeting wealthy Gulf Arabs with Four Seasons Ocean Residences.
Keep mobile ads relevant, say regional users
Survey by mobile messaging firm Acision finds irrelevant ads one of main complaints of mobile subscribers.
McAfee secures $350m SafeBoot deal
McAfee announces acquisition of SafeBoot to extend portfolio into data encryption
Eid on Saturday, astronomers say
If correct private sector can look forward to extended weekend after UAE announced holiday for festival.
Dubai airport sees record passenger growth
Passengers numbers at region’s aviation hub reach record 25.4mn so far this year.
Saudi’s Al Rajhi halts profit slide
Largest Gulf Arab lender brings year’s decline in profit to an end in Q3 on higher income from investments.
Global IT spend set to surpass $3 trillion in 07
One third of IT spending now occurs outside of North America, Western Europe and Japan, according to firm.
Toxic toothpaste banned in UAE
Gov’t orders eight brands of Chinese toothpaste off store shelves for containing a toxic chemical.
Qatar’s Rayan sees profit rocket tenfold
Country’s third-largest Islamic bank posts net income of $105.1mn, beating industry expectations.
Dinar depreciates for first time this week
Kuwait’s central bank allows dinar to drop against dollar after US currency gains on global markets.
First Gulf Bank deploys new storage infrastructure
EMC SAN and disaster recovery solutions will enable better performance
Desert harvest
Agthia CEO talks about his vision for the foodstuff and mineral water group’s expansion.
Crackdown on Bahrain corruption
Charges filed against top executives as gov’t pushes to end fraudulent business practices in kingdom.
Almarai milks profits in Q3
Gulf’s largest dairy company sees net income surge 52% on higher sales to sixth consecutive record.
Those who can bleach
MED explores how to get started with tooth whitening.
Pensions sticky issue in Sainsbury bid
Sainsbury family may try to derail offer for UK supermarket if Qatar does not strike deal with pension trustees.
Rents & Renting
Soaring rents to continue till end of decade
After 2010 oversupply will threaten value of Abu Dhabi property market, bank says.