Having finalized an agreement that sets in motion, the repayment of Dh 614 million from original promoters the Abdullah brothers, jewellery firm Damas is trying to recover the money owed in the wider marketplace. The company is considering taking legal...
International law firm Vinson & Elkins LLP has expanded into the Middle East and opened an office in Riyadh, in association with the Law Office of Looaye M. Al-Akkas. Vinson & Elkins LLP is an international law firm with...
According to a new research study from Standard Chartered Bank, the price of gold will rise above $2,100 an ounce, by the year 2014. A strong demand will be registered for this yellow metal, over the next three years....
Oman Aluminum Rolling Company has awarded a $ 385 million (Dh 1,413 million) contract to Fata EPC, an Italian company, to build the new production plant (with a 160,000 tonne capacity). The Turin based engineering, procurement and construction company is...
As estimated by a UAE based food and beverage expert, the average monthly household spent in the UAE on dining out is Dh 1,200. This is a high amount compared to that to the rest of the world. According to...
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE in his capacity as the Ruler of Dubai, ordered paying Dh.26.37 million to Emiratis, whose taxicab number plates are operated by the Dubai...

In times of an economic slump, when sales plummet to an appalling low, business owners often tend to get discouraged and despondent. They try to find short-cuts to get themselves back in the running. But business experts say that...
As shown in a report by the Washington-based Institute for International Finance (IIF), inflation in the UAE is projected to be around 1.9 per cent this year from the 0.6 percent last year, on the higher global commodity prices...
A Palestinian investment firm has issued the territory's first corporate bonds in an effort to strengthen local economy. PADICO, a publicly traded company focused on investment in the Palestinian economy, issued 7,000 five year bonds, worth $ 70m. "We are...
Infrastructure Leasing & Financial Services Limited (IL&FS) has opened its third international office and first in the region, at the Dubai International Financial Centre (DIFC) IL&FS will sponsor, develop and commercialize infrastructure projects and provide value added financial services, will...
The Supreme Fiscal Committee has asked all government departments to reduce expenditure by 20 to 25 per cent in a bid to help the emirate achieve a budget surplus of Dh3-Dh3.5 billion until 2013, Ahmad Humaid Al Tayer, Member...
Officials from China, Japan and South Korea have agreed to boost trade in Asia by speeding up discussions on a possible free-trade deal. This trilateral pact is coming ahead of time, which was expected to be sealed in only...
The Pakistani rupee has fallen to a record low of 86.50 to the US dollar; as there is an increased demand for dollars for import payments. Also, flow of the much needed foreign aid to the country may be...
Of late, this has been a predicament faced by organizations and businesses world-wide. When faced with an economic slump, they are torn between the choice to cut back on either their Corporate Social Responsibility (CSR) or their investment in...
The Pakistani government is looking at increasing spending on roads, education and healthcare by 58 percent by the next fiscal year to revive its economy hurt by floods and terrorism. It is reported that the government will spend 730...
UAE Central Bank Governor Sultan Bin Nasser Al Suwaidi on Sunday urged banks to exert more effort towards reducing the cost of borrowing for current borrowers, particularly the category of businessmen. He said the current loan charges do not...
The global economy is showing signs of strain. Though most of the major economies are growing; the United States to Europe and even to the booming China - evidences from all over the globe suggest that the world is...
For the final time as the Pentagon chief, Defense Secretary Robert Gates is headed to Asia with a message and looking to reassure allies that the United States is committed to regional security. This is despite the tightening defense...
Bahrain plans to spend 60bn Bahraini Dinar in a move to retain its good image. As a first step King Hamad bin Isa Al Khalifa lifted the state of emergency. The developments were welcomed by the business fraternity. Bahrain was...

One of the Arab world's largest carriers, the Emirates, announced the successful close of its US dollar "Reg S" bond issue at $1 billion and has picked four banks for a possible dollar bond issue. Government-owned Emirates has chosen...
The Central Bank has forecasted an increase in non-performing loans (NPL) in the banking system. The main reason attributed to the NPL is an oversupply of units in the property market. The NPLs rose by 6.67 percent at the...
The US employment growth rates have slowed down lat month. This comes in light when it was recorded that only 54,000 new jobs were added in the country; whereas the expected was 150,000. This follows a downwardly fall from...
The International Monetary Fund has agreed to a $3 billion loan to Egypt. This money will help the country overcome a cash crunch and to boost salaries in the wake of the pro-democracy after its longtime president toppled. Egypt...

The benchmark interest rate of the Reserve Bank of Australia is left unchanged for its sixth straight meeting. Experts are forecasting that the official interest rate will rise one percentage point to 5.75 per cent in the next 12...
Money supply M0, an indicator of currency circulation in banks, has increased by 1.4 percent in April. UAE Central Bank, yesterday revealed that Money supply is Dh50.3 billion against Dh49.6 billion at the end of March. Money supply M1, which...
Incredible growth opportunities for UAE's Conferences and Events Industry Special to ArabianGazette.com: by Shveta Pathak Ludhiana, an industrial city located in the North of India, is home to some of the top names in the business world- Munjals of the two...