Ramez Merhi, director of asset management at Al Masah Capital, discusses why the Dubai stock market has been shaken by the plunge in Arabtec shares.» Read More
*UAE and Qatar recently upgraded to emerging market status. LONDON, July 16- Despite their recent upgrade to the more mainstream emerging market league, United Arab Emirates and Qatar are considered risky enough by many investors that they still treat them like frontier markets.
The ruler of the UAE's emirate of Dubai, Sheik Mohammed bin Rashid Al Maktoum, said the mission will prove the Arab world is still capable of delivering scientific contributions to humanity, despite the many conflicts across the Middle East.
CAIRO, July 16- Western consultants helping Egypt compile an economic reform plan say it needs at least $60 billion of investment to reach average GDP growth of 5 percent by 2018 and the same amount again to bolster its foreign reserves, senior officials said.
Boeing's stock soared nearly 80 percent last year, outperforming the Dow Jones Industrial Average and the S&P 500 index. But as indexes pushed higher this year, investors sent Boeing down 5.7 percent amid concern that the aviation business cycle may have peaked and that Boeing's ability to produce positive surprises is limited.
"The UAE Mars probe represents the Islamic world's entry into the era of space exploration. We will prove that we are capable of delivering new scientific contributions to humanity, "said UAE President Sheikh Khalifa bin Zayed al-Nahayan.
DUBAI, United Arab Emirates— The super-sized malls that dot Dubai and other Gulf Arab cities are stuffed with foreign restaurants, from Burger King and Subway to suburban sit-down staples like IHOP and Red Lobster. A United Arab Emirates- based chain called Just Falafel opened its first branches in the United States and Canada last month.
VIENNA/ NAIROBI, July 16- A United Nations panel that monitors compliance with U.N. sanctions on Somalia has accused the country's president, a former minister, and a U.S. law firm of conspiring to divert Somali assets recovered abroad, according to a new report.
*Bursting of bubble wiped some $50 billion off UAE market. ABU DHABI/ DUBAI, July 15- Fifty billion dollars may be enough to trigger major changes to regulation of the Arab world's second biggest stock market.
*Boeing comfortable with efficiency, value of fleet vs Airbus. FARNBOROUGH, England, July 14- U.S. planemaker Boeing said its range of aircraft meant it was well-placed to compete in the latest stage of a long-haul battle against European rival Airbus, which earlier stole the limelight with a plan to revamp its A330 jet.
LONDON/ HONG KONG, July 13- Financiers may grumble that the United States is acting like an imperial power in punishing foreign banks for dealings far beyond U.S. territory, but in the end they are more likely to bow to Washington than kick against its dollar muscle.
Fred Buenrostro admitted that he intentionally conspired with a former California Public Employees' Retirement System board member and others to accept bribes and devise a fraudulent scheme involving Calpers' investments.
July 10- General Electric Co said on Thursday it picked France's Safran SA, Japan's IHI Corp and Germany's MTU Aero Engines AG to work on the GE9X engine that will power Boeing Co's new 777 X aircraft. GE told Reuters the companies chosen would share about 25 percent of the GE9X program, with Safran holding the largest share.
*CIMB aims to acquire RHB and Malaysia Building Society. KUALA LUMPUR, July 10- Malaysia's CIMB Group Holdings Bhd is seeking to acquire two lenders to create the country's biggest bank in a move that is likely to push larger rival Maybank and others in the region to bulk up too.
*Qatar sells about 5 pct of LSE, cutting stake by a third. LONDON, July 10- Qatar has sold a 5 percent stake in the London Stock Exchange for 260.1 million pounds, cutting its holding by a third and making a profit of around 20 percent, according to Reuters calculations.
July 9- Boeing said it had finalized an order for 150 777 X planes from Dubai's Emirates Airline in a deal valued at $56 billion at list prices. The deal includes purchase rights for an additional 50 airplanes that, if exercised, could increase the value to about $75 billion at list prices, Boeing said in a statement on Wednesday.
July 9- Boeing said it had finalised an order for 150 777 X planes from Dubai's Emirates Airline in a deal valued at $56 billion at list prices. The deal includes purchase rights for an additional 50 airplanes that, if exercised, could increase the value to about $75 billion at list prices, Boeing said in a statement on Wednesday.
SINGAPORE, July 9- Palladium climbed for a 13th straight session on Wednesday to trade near its highest since 2001 on concerns over supply constraints in major producer South Africa, amid strong demand for the metal from the auto industry.
*Jordanian CEO Ismaik pushed ambitious growth plans. *Construction firm became arm of Abu Dhabi policy. ABU DHABI/ DUBAI, July 8- From a 59- story tower in Abu Dhabi, the offices of Arabtec look out over the Gulf towards Middle Eastern and Asian nations where the construction firm hopes to expand.
DUBAI, July 5- Dubai is launching a project to build an entertainment and hotel district that will include the world's largest shopping mall, the emirate's ruler, Sheik Mohammed bin Rashid al-Maktoum, said on Saturday.
Nour Al-Hammoury of ADS Securities discusses the recent volatility in the Dubai stock index.