Business United Arab Emirates

  • COPENHAGEN, Oct 1- Danish freight forwarder DSV. has agreed to buy Dubai- based Swift Freight, it said on Monday, with the aim of expanding in the Middle East and Africa.

  • DUBAI, Oct 1- Abu Dhabi- listed First Gulf Bank. Citi, National Bank of Abu Dhabi, HSBC, Standard Chartered and Deutsche Bank. Reuters reported last week that the lender, the second biggest by market value in the United Arab Emirates, was eyeing a new bond sale.

  • Under new rules, announced in early April with a Sept. 30 deadline, any bank's lending to the governments of the seven-member UAE federation and related entities is capped at 100 percent of its capital base, while lending to a single borrower is curbed at 25 percent.

  • DUBAI, Oct 1- Abu Dhabi Investment Authority, the cash-rich emirate's sovereign wealth fund, has hired Colm Lanigan to head principal investments at its private equities department, it said on Monday. Lanigan was most recently the managing partner of Tara Capital, a New York- based boutique private equity firm that he started in 2005..

  • KUWAIT, Oct 1- Banks in the United Arab Emirates will not be given an extension of the Sept. 30 deadline for them to limit their exposure to state-linked debt, a UAE central bank official said on Monday. Shamsi said the UAE central bank would deal on an individual, case-by-case basis with commercial banks on the issue of the deadline.

  • The prompt October/November spread climbed $1.25 to a backwardation of $10.25 a tonne, the highest in more than two weeks, according to Reuters data. Strong gasoline demand in the United States will see more naphtha being reformed into the transport fuel, instead of being sent to Asia.

  • DUBAI, Oct 1- Growth of premiums in Saudi Arabia's Islamic insurance industry has been slowing, but changes in the regulatory environment could reverse that trend in coming years.

  • KUWAIT, Oct 1- Banks in the United Arab Emirates will not be given an extension of the Sept. 30 deadline for them to limit their exposure to state-linked debt, a UAE central bank official said on Monday. Shamsi said the UAE central bank would deal on an individual, case-by-case basis with commercial banks on the issue of the deadline.

  • *Qatar Islamic Bank also in market, may issue sukuk this week. By Rachna Uppal DUBAI, Oct 1- Abu Dhabi- listed First Gulf Bank. FGB may soon be joined by another regional bank, Qatar Islamic Bank, which is expected to issue a sukuk this week, following investor meetings.

  • This satellite image shows the Strait of Hormuz, between the Persian Gulf and the Gulf of Oman. The Strait of Hormuz runs between Iran and United Arab Emirates.

    Saudi Arabia and the United Arab Emirates have opened new pipelines bypassing the Strait of Hormuz, the shipping lane that Iran has repeatedly threatened to close, in a move that will reduce Tehran’s power over oil markets, the Financial Times reports.

  • RMS Queen Elizabeth 2

    The vessel will open as the centrepiece of an entertainment village, including a maritime museum, in Port Rashid, where it has been berthed since it was retired from service in 2008.

  • Emirates Airlines reported a 72 percent drop in 2011 earnings on Thursday, with rocketing fuel prices cutting into profits.

  • Dubai Palm Island

    In April, the HSBC UAE Purchasing Managers' Index rose to 53.5, the highest level since June 2011. The one-point increase is the strongest monthly gain since October of last year.

  • Given the pace of global growth, experts say crude oil prices are higher than they should be – largely the result of concern Iran might close the Strait of Hormuz in its showdown with the U.S. and E.U. over the expansion of its nuclear program.Like Iran, some of the world’s other biggest oil producers can be subject to unpredictable and unstable political events, causing price shocks. Such was the case during the 2011 civil unrest in Libya. At the time, Libya was the 17th largest oil-producing c

    Big movements in the price of oil can have significant effects on the economy, and countries with the most oil within their borders are set to benefit, as demand for crude continues to rise.

  • Dubai Palm Island

    About 20 jailed foreign businessmen have gone on hunger strike in Dubai to protest against lengthy sentences for writing checks that bounced, a criminal offence in the United Arab Emirates.

  • Formula 1 track, Bahrain

    As drivers and teams prepare to travel to the Kingdom of Bahrain for the fourth race of the season, protests in the capital Manama reflect a political situation that is far from resolved. And it isn’t the first time Formula 1 has courted international condemnation in order to keep its racing schedule.

  • Dubai at night

    Dubai’s chief of police has thrust himself into a regional controversy, becoming the voice of Emirati opposition to the rising power of Islamists in the Arab world. The Financial Times reports.

  • European Central Bank liquidity measures are spurring investment in the Middle East, the head of an Abu Dhabi-based foreign exchange and commodities trading firm told CNBC Wednesday.

  • Investing in  Abu Dhabi

    "Abu Dhabi is a very stable and long-term orientated environment," Mahmood Ebraheem Al Mahmood, CEO of ADS Securities, told CNBC, speaking from Abu Dhabi.

  • Abu Dhabi Wants 23% of GDP From Foreign Investment

    Abu Dhabi wants to see 23 percent of its gross domestic product coming from foreign investment, Mohammed Omar Abdullah, undersecretary, Abu Dhabi Department of Economic Development, told CNBC. "Abu Dhabi is considered as an attractive destination for investment," he added.