A1SaudiArabia.com

UAE central bank sees low growth

Tue, 09 Feb 2010 00:00:18 +0000

DUBAI: The central bank of the United Arab Emirates forecast the countrys growth to be low in 2010 but better than the previous year, its governor told a media briefing on Monday, according to a source at the briefing. Sultan Nasser Al-Suweidi told local media the central bank expected the growth rate in 2009 to [...] Related posts:

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Euro up despite debt worries as stocks rebound

Tue, 09 Feb 2010 00:00:18 +0000

NEW YORK: US and European stocks eked out gains on Monday, lifted by defensive shares, while the euro edged up from 8-1/2-month lows despite persistent worries about the fiscal health of highly indebted nations in the euro zone. A modest rebound on Wall Street helped pushed the euro to a session high above $1.37, although [...] Related posts:

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Fernvale Investments commits 75m to PAIP

Tue, 09 Feb 2010 00:00:18 +0000

JEDDAH: Fernvale Investments (Mauritius) Pte Ltd. is making a capital commitment of $75 million to Pan-African Investment Partners II Ltd. (the second Kingdom Zephyr fund, known as PAIP II). This was announced here on Monday by Kingdom Holding Company (KHC). Fernvale is a wholly owned indirect subsidiary of Temasek Holdings (Private) Ltd. Prince Alwaleed bin Talal, chairman [...] Related posts:

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High-tech M A deals fetch 272bn

Tue, 09 Feb 2010 00:00:18 +0000

MANAMA: Despite the recession, mergers and acquisition (M&A) activity in the high-tech sector worldwide made 365 deals worth $27.2 billion by September 2009, the highest total since December 2007, according to a new report by Booz & Company. The report, which was released on Monday, said that despite being widely affected by the economic downturn, the [...] Related posts:

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Gulf central bankers to meet

Tue, 09 Feb 2010 00:00:18 +0000

RIYADH: The first meeting of the Gulf Central Bank will be held in March this year, said GCC Secretary General Abdul Rahman Al-Attiyah here on Monday. Al-Attiyah made the announcement during his address at the Saudi and Qatari Businessmen Forum, which was held for the second day on Monday under the patronage of Custodian of [...] Related posts:

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Jadwa wins Best Saudi Equity Fund award

Tue, 09 Feb 2010 00:00:18 +0000

JEDDAH: Jadwa Investment has won the Best Saudi Equity Fund award in Dubai, it was announced on Monday. The award was given to Jadwa for its Saudi Equity Fund performance in 2009 at a ceremony held recently in Dubai by MENA Fund Manager magazine. Ahmed Al-Khateeb, managing director and CEO of Jadwa Investment, attributed this achievement to [...] Related posts:

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NCB Capital launches new Shariah-compliant fund

Tue, 09 Feb 2010 00:00:18 +0000

RIYADH: A US dollar-denominated, open-ended, Shariah-compliant fund was launched Monday in Riyadh by NCB Capital, the investment banking arm of National Commercial Bank (NCB), the largest commercial bank in the Kingdom. Under the new Sukuk and Murabaha Fund, NCB Capital will invest in sukuk and Murabaha issued by highly rated companies and governments. This is a mid-term [...] Related posts:

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Toyota resumes production in US plants

Tue, 09 Feb 2010 00:00:18 +0000

TOKYO/DETROIT: Japanese carmaker Toyota Motor Corp. said it was preparing a global recall of its new Prius model, risking a fresh dent to its battered reputation for quality and reliability. As US plants resumed production of eight models involved in an earlier safety recall, the worlds largest automaker readied action on the hybrid car in Japan [...] Related posts:

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CBK cuts repo rates to boost money supply

Tue, 09 Feb 2010 00:00:18 +0000

KUWAIT CITY: The Central Bank of Kuwait (CBK) on Monday cut its one-week and one-month repurchase rates by 25 basis points each in a bid to expand money supply, a day after reducing the benchmark discount rate. The bank cut the one-week repo rate to 1.5 percent and its one-month rate to two percent, according to [...] Related posts:

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Mideast bourses rebound but volumes thin

Tue, 09 Feb 2010 00:00:18 +0000

JEDDAH/DUBAI: Middle East markets rebounded on Monday, with Egypt recouping most of its previous days losses, but volumes were thin as investors remained on the sidelines in the absence of significant catalysts. What we are seeing today, with regard to volumes, is a contagion effect of high volatility internationally, said Marwan Shurrab, vice-president and chief [...] Related posts:

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