Zawya.com - Top Regional News
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Airlines in Saudi Arabia Cut Fares
A number of airline companies have cut their ticket fares by 10 to 20 percent in the wake of a decline in fuel prices. Saudi Arabian Airlines said it was reducing ticket charges on its international flights by 10 to 15 percent.
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AMD Gets US Clearance For Abu Dhabi Joint Venture
Advanced Micro Devices said it received clearance from US authorities for a joint venture with capital from two Abu Dhabi investment firms to help it compete against sector leader Intel.
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KI Forecasts 100% Increase in GCC Turnover
One of America's largest office furniture manufacturing companies, Krueger International, (KI) is forecasting a 100 per cent increase in GCC turnover in the 2009 financial year.
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US Ban On Beirut Building Project
The US Treasury department banned any Americans from taking part in a construction project in Beirut, accusing Hizbollah of using the project to raise funds for terrorism.
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WCT And Arabtec Say Projects Not Affected
WCT Engineering Berhad and Arabtec have said their other ongoing projects in the region will not be affected following the cancellation of the Dh4.6 billion Meydan racecourse project at Nad Al Sheba.
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Bahrain's Credit Outlook Negative, Says Moody's
Global ratings agency Moody's Investors Service has downgraded Bahrain's sovereign ratings outlook from stable to negative after oil prices fell below its budget breakeven level.
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Ajman Creates Property Regulator
The Ajman Government amended a law creating Ajman Real Estate Regulatory Establishment, which will regulate the emirate's property and construction sector, which has seen more than Dh340 billion investment in the last two years.
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Dow Considers Legal Action Against Kuwait
Dow Chemical, the largest chemicals group in the US, on Tuesday said it was considering legal action against Kuwait after the Gulf emirate last month cancelled a planned $17.4bn petrochemicals joint venture.
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Dow Chemical Plans Legal Action on Kuwait Deal
Dow has said it will seek to enforce its rights under the terms of the various agreements and the JVFA executed by Dow and PIC since the joint venture partnership was first announced in December 2007.
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Dow Chemical To Pursue Legal Options on Kuwait Deal
Dow has said it will seek to enforce its rights under the terms of the various agreements and the JVFA executed by Dow and PIC since the joint venture partnership was first announced in December 2007.
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Hamas In Egypt For First Gaza Truce Talks
A Hamas delegation was in Cairo on Tuesday to discuss an Egyptian-proposed ceasefire with Israel, 10 days after the Jewish state's unleashed its massive offensive on the Islamists' Gaza Strip stronghold.
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DGCX Achieves Record Growth In 2008
The exchange recorded 26% year-on-year growth with 1.14 million contracts, valued at US $57.5 billion, traded in 2008. Average daily volume touched just over 4,500 contracts in 2008, an increase of 28% compared with 2007.
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Dubai Duty Free Sales Increase 23% to Dh3.95b
Dubai Duty Free (DDF) said its sales increased 23 per cent to Dh3.95 billion last year, despite the fact that the global aviation industry was set to lose over $7 billion (Dh25.74 billion) by next year.
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China's CNPC Explores Oilfields In Iraq
State-run China National Petroleum Corp. (CNPC), the country's largest oil and gas producer, has won the regulatory approval from the Iraqi government to explore oilfields in the Middle East country, Chinese media reported Tuesday.
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Tighter Visitor Visa Rules Pondered In UAE
The Ministry of Interior (MoI) is considering a Federal National Council (FNC) proposal that visitors to the UAE will have to furnish a clean police record and a bank statement from their country of origin, senior immigration officials said.
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UAE: Meydan Cancels $1.3b Racecourse Deal
Dubai's Meydan LLC said on Monday it cancelled a racecourse construction deal with Malaysian construction firm WCT Engineering Bhd and the local firm Arabtec.
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Infrastructure, Housing To Boost UAE Steel Demand
Infrastructure development and housing will drive the demand for steel in the UAE and the region in 2009, experts. Even as they warned that 2009 will not be the same as previous years.
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Five New Oil Fields Found In Saudi Arabia
Saudi Aramco has discovered five new oil fields and three gas fields in the Eastern Province, Petroleum and Mineral Resources Minister Ali Al-Naimi announced.
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Dubai's Rental Index Completed
The Real Estate Regulatory Agency (Rera) of Dubai has completed work on the much-awaited rental index and will roll it out as soon as it is approved by the Ruler's Court, a senior official said.
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Fighting Rages In Gaza As Israel Spurns Truce Bids
The heaviest fighting of Israel's war on Hamas raged in Gaza City early on Tuesday as Israeli Prime Minister Ehud Olmert rebuffed appeals to stop the death toll from mounting further.
Zawya.com - Top Regional News
