Dubai finance and economy news and features
Latest business and financial stories posted on AMEinfo.com
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Mourjan Marinas IGY to develop and manage all marinas in future maritime hub, Lusail City, Qatar
Mourjan Marinas IGY, the company which provides innovative development and management solutions for marina lifestyle destinations in the Middle East, today announced it will undertake full responsibility for design, construction and operation of all marinas in the Lusail City's development in Qatar.
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Insurers lift Kuwait market over 7,300 points
The KSE Market or Price Index finished 0.38% higher at 6,703.2 points due to strong gains in the insurance segment. Gulf Insurance Co. (up 8.16% at KD0.530) posted the largest advance. Real estate and foof companies performed weaker. Over the week the KSE bourse added 0.86%.
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Qatar Exchange gains two percent over the week
After the Tokyo bourse reached a 16-month high, gulf markets posted modest gains, as the QE Index in Doha ended 0.76% higher at 7,305.96 points. Positive market reports from Standard and Poor's and Credit Suisse have helped the QE Index to gain over two percent during the trading week of August/September. Qatar National Bank (QNB) advanced 0.40% too QR143.60. QNB has paved ways to become a shareholder in Bank Kesawan in Indonesia. The rights issue to buy in Bank Kesewan is scheduled to close in the first quarter 2011. EFG Hermes rates QNB 'neutral'.
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Abu Dhabi stocks gain across the board
All sector stock indices in Abu Dhabi landed in the green (with two exceptions) as the ADX General Index closed 0.12% higher at 2,494.52 points. Real estate bellwether Aldar Properties added 0.44%, closing at Dhs2.27. Energy giant Taqa recovered slightly from yesterday's losses, closing 0.85% higher at Dhs1.18. Taqa responded to reports dealing with its former CEO Peter Barker-Homek who sued Taqa for being allegedly sacked under the threat of imprisonment, saying that they do not expect any financial impact du to Barker-Homek's move.
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Asian market rally lifts local Dubai bourse
The DFM General Index surged 0.76% to 1,497.78 points, thanks to a last-minute rally which ended a stuttering trading day. Emaar (up 1.22% at Dhs3.32) was the most liquid stock, while Shuaa Capital recovered by 2.22% at Dhs0.92. Bank Emirates NBD failed to join and ended 0.41% lower at Dhs2.42. Over the week, however, the DFM did not gain territory as the benchmark index remains deadlocked around 1,500 points.
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'Eid in Dubai' readies to organize back-to-school exhibition and funfair at Airport Expo Dubai
Airport Expo Dubai is all set to host a back-to-school exhibition and a funfair as part of 'Eid in Dubai' festivities to mark Eid Al Fitr. Organised by the Dubai Events and Promotions Establishment (DEPE), 'Eid in Dubai' aims at bringing various resident nationalities together to celebrate Eid and the venue will be just one of many entertainment destinations planned as part of the occasion.
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Apple reinvents iPod nano with multi-touch interface new built-in clip for instant wearability
Apple today unveiled a completely redesigned iPod nano featuring Apple's Multi-Touch™ interface that lets users navigate their music collection by simply tapping or swiping a finger on the display. Nearly half the size and weight of the previous generation, the new iPod nano features a polished aluminum and glass enclosure with a built-in clip, making it instantly wearable.
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Sabre selects TRX to provide new business intelligence capabilities to Sabre Red portfolio
Sabre Travel Network, the leading provider of high performance solutions for the travel industry, presented a sneak preview of its new Sabre Red Business Intelligence product at the NBTA Convention in Houston, ahead of its global rollout later this year. Sabre Red is available in the region through Sabre Travel Network Middle East's 20 offices across 11 countries.
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A330-200F deployed to Pakistan for inaugural charter
The inaugural flight for Etihad Crystal Cargo's new A330-200 freighter aircraft took place on Saturday, 28 August, and was a special charter carrying medical and humanitarian supplies to Pakistan.
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Dumond opens 7th store in the UAE
Dumond- the fashionable Brazilian footwear brand has opened its doors in Sharjah at Sahara Centre on the 25th of August. This store is Dumond's first store in the Emirate and its 7th store in UAE.
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Hyatt Regency Dubai and Galleria appoints Ann Kang new Director of Hotel Sales
Hyatt Regency Dubai & Galleria is delighted to announce the appointment of Ann Kang as its new Director of Sales. Ann, a South Korean national, gained an extensive experience in the hospitality industry.
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Hyatt Regency Dubai appoints Michael von Siebenthal General Manager
Hyatt Regency Dubai is delighted to announce the appointment of Michael von Siebenthal as its new general manager. Michael, a Swiss national from Saanenmöser, has had a long career in international hotel operations and many years' managerial experience with leading five-star Hyatt hotels across the world. The regions in which he has worked include Asia Pacific (Hong Kong, Indonesia, Thailand, Malaysia, the Mariana Islands and Japan) and Latin America (Mexico).
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Samsung Galaxy Tab opens a new chapter in mobile industry
Samsung Electronics Co., Ltd, a global leader in mobile technology, today announced the launch of the Samsung Galaxy Tab (Model: GT-P1000). Powered by Android Operating System 2.2, the Samsung Galaxy Tab is the first of the company's tablet devices, representing a new category of mobile products for Samsung.
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NetApp delivers maximum desktop efficiency to VMware View 4.5 customers
At VMworld 2010, in support of the newly released VMware View 4.5, NetApp announced that the integration of its industry-leading unified storage technologies enable VMware View 4.5 customers to achieve enhanced storage efficiency and virtual desktop scalability, while improving desktop performance levels for end users.
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Saatchi and Saatchi X hires Colman Sheil to Creative Director
Saatchi and Saatchi X has appointed Colman Sheil as its new Creative Director for the Middle East region. Based in Dubai, Sheil will join the agency and take responsibility for its creative output across all mediums within shopper marketing.
