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Dubai’s return to the international credit market has been heralded as another sign that the commercial emirate is rebuilding confidence and balance sheets following its debt crisis. Less public is evidence that Abu Dhabi has built up a commanding position in the Dubai economy, much to Sheikh Mohammed’s discomfort
A move by UAE state telecommunications company Etisalat to buy a substantial stake in Kuwaiti telecoms player Zain comes as Abu Dhabi extends its ambitions to buy assets in the region following the global downturn.
Commitments by the United States to strengthen its Gulf allies have been confirmed with the public agreement of a multi-billion dollar defence deal intended to shift the balance of power from tipping into Iran’s favour, while allowing the US to safely reduce its boots-on-the-ground military presence in the region and create jobs at home
The Italian export credit agency Sace has guaranteed a $500m loan to General Holding Corporation, owned by the Abu Dhabi government. Sace said the proceeds would be used to expand the existing steel-making plant owned by Emirates Steel Industries (ESI), in the Mussafah industrial area.
Seychelles scandal, Media comments, Art activities, Saudi visit, Iranian guest, Concern over national divisions, Football controversy
In his suit against Abu Dhabi National Energy Company (Taqa), its former chief executive Peter Barker-Homek says that one of his main concerns was the unsavoury business practices going on at
A law suit filed by one of the Gulf’s most high-profile expatriate executives could point to a dark side in the mighty Abu Dhabi business empire, if the allegations are proven. The suit has been filed in the United States by former Abu Dhabi National Energy Company chief executive Peter Barker-Homek against his former employer.
Saudi Arabia and the UAE have threatened to ban certain encrypted features of Canadian company Research In Motion (RIM)’s BlackBerry mobile phones because they hinder efforts to counter terrorism and crime, the two countries argue.
‘Success’ for president’s treatment
New figures from the Ministry of National Economy indicate that Oman will end the year with a budget surplus. The Export-Import Bank of the United States has approved its first direct loan to Saudi Arabia. Italian export credit agency Sace has guaranteed a $500m loan to General Holding Corporation.
New contracts for Majnoon field, Repsol farms into RAK’s Block 47, Rosneft to invest $630m in Sharjah, Nakilat completes LNG fleet
US Democratic congressman Brad Sherman has told the House Committee on Foreign Affairs that the UAE remains a “transhipment and diversion hub” and does “not effectively control exports to Iran and other countries of proliferation”.
Shekha Lubna: Palestinian visits
Hawker Beechcraft delivers T-6 trainers, Second RNO corvette deal, Sikorsky gets MoI helicopter contract, Raytheon contract to deliver missiles to SANG, Potential $30m deal with US, Raytheon wants more deals
Funeral prayers for cousin
