DubaiBIZZ.NET

UAE posts USD30.67b current account surplus in 2011: CB

admin — Fri, 18 May 2012 09:00:14 +0000

(MENAFN) The UAE's central bank said that in 2011, the country's current account surplus surged to USD30.67 billion, representing 8.5 percent of gross domestic product (GDP), reported Gulf …

(read more…) – FINANCE

Tea Party Picks Losing Fight Over U.S. Export-Import Bank

admin — Fri, 18 May 2012 02:00:26 +0000

It was business as usual at the U.S. Export-Import Bank Sept. 30, though its charter was set to expire at midnight. The board approved $1.2 billion in loan guarantees to help Air India Ltd. buy jetliners from Boeing Co. (BA) , part of $3.4 billion in financing it handled that day.

(read more…) – FINANCE

Abu Dhabi Hits Times Square

admin — Fri, 18 May 2012 00:00:43 +0000

The seductive red glow seeping out of a massive white tent at Duffy Square in Times Square drew a steady stream of curious visitors this afternoon???part of a free, four-day pop-up visitors center, A Taste of Abu Dhabi, set up by the Abu Dhabi Tourism & Culture Authority. Operating from 10am-9pm daily now through May …

(read the story…) – BUSINESS

Bangchak unfazed by oil price swings

admin — Thu, 17 May 2012 20:07:38 +0000

State majority-owned Bangchak Petroleum Plc expects its gross refining margin in the second quarter to remain steady, with Dubai crude oil prices ranging from $105-112 a barrel in second half of this year.

(read the story…) – BUSINESS

Jailed US businessman on hunger strike in Dubai

admin — Thu, 17 May 2012 20:03:10 +0000

An American businessman jailed for more than four years in Dubai under suspicion of corruption has started a hunger strike to push for a trial and seek greater U.S. diplomatic pressure in his case.Zack …

(read the story…) – BUSINESS

UAE current account surplus quadruples in 2011

admin — Thu, 17 May 2012 15:00:56 +0000

The 2011 calculation is based on a GDP estimate by the International Monetary Fund

(read more…) – FINANCE

A.M. Best Opens Office in the Dubai International Financial Centre

admin — Thu, 17 May 2012 11:08:24 +0000

A.M. Best Co. is pleased to announce the opening of its new office in the Dubai International Finance Centre in Dubai, UAE. The new office, located in Tower 2, Currency House, DIFC, will operate as A.M.

(read more…) – FINANCE

UAE-UK Joint Economic Council considers seven working teams

admin — Thu, 17 May 2012 11:06:20 +0000

(MENAFN – Khaleej Times) The second meeting of the UK-UAE Joint Economic Council discussed proposals to set up joint working teams on energy, education, health, infrastructure, finance and business, …

(read more…) – FINANCE

Sinopec, Concord Energy to build oil storage in UAE

admin — Thu, 17 May 2012 06:03:15 +0000

DUBAI, May 16 (Reuters) – Singapore-based Concord Energy andChina's Sinopec will start to build oil storage in the UnitedArab Emirates port of Fujairah within two months, a source atConcord Energy said …

(read the story…) – BUSINESS

Jade Logistics Opens Dubai Office to Drive Growth in the Middle East

admin — Thu, 17 May 2012 06:03:05 +0000

AUCKLAND, New Zealand and DUBAI, United Arab Emirates, May 17, 2012 /PRNewswire/ New Zealand technology company Jade Software Corporation today announced the opening of an office in the Middle East to build on its sales success of its port …