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GCC single currency unlikely by 2010
GCC countries are unlikely to form a single currency by 2010 as planned, making it more likely that some of these countries may end their currency pegs to the dollar, Gabriel Stein, an economist at Lombard Street Research told Bloomberg. A single currency is doubtful because Gulf rulers are unwilling to give up sovereignty over monetary and fiscal policy, Stein said, but inflation will accelerate in the meantime, increasing pressure on the states to revalue their currencies.
Thursday, May 08 - 2008 at 15:06

DFM dips, ADSE gains
The Dubai Financial Market on Thursday lost 29.69 points, or 0.51%, to end the day on 5,829. United Foods was the day's big gainer, up 66.67%. National Cement had the day's biggest loss, down 4.35%. Meanwhile, the Abu Dhabi Securities Exchange gained 32.26 points, or 0.64%, to finish on 5,034.
United Arab Emirates: Thursday, May 08 - 2008 at 14:44

FDI in UAE to hit $108bn in 2011
Total foreign direct investment inflow into the UAE is expected to nearly double from $59.2bn in 2007 to $108bn in 2011, according to a report by Barclays Wealth, a part of the UK's Barclays Group. The analysis is based on semi-official data, as the UAE does not publish official FDI figures. However, based on its estimates, Barclays Wealth said the UAE's inflows are high and rising.The United Nations Conference on Trade and Development (Unctad) puts FDI inflows into the UAE at $12 billion in 2005 accounting for about 60 per cent of total inflows into the Gulf that year.
United Arab Emirates: Thursday, May 08 - 2008 at 08:24

UAE stocks end mixed
The Dubai Financial Market on Wednesday gained 34.87 points, or 0.60%, to end the day on 5,859. Al Salam Bank was the day's big gainer, up 3.23%. Meanwhile, the Abu Dhabi Securities Exchange lost 37.36 points, or 0.74%, to finish on 5,002.
United Arab Emirates: Wednesday, May 07 - 2008 at 15:08

Saudi plans $5.3bn investment company
Saudi Arabian is setting up an SR20bn ($5.3bn) investment firm that may be open to partners, reported Arab News. The company will draw its capital from the General Investment Fund and would offer attractive opportunities in the kingdom with low risks to foreign investors.
Saudi Arabia: Wednesday, May 07 - 2008 at 11:31

Oman's economy up 13.1% in 2007
Oman's nominal GDP rose 13.1% in 2007, reaching 15.5 billion Omani riyals ($40bn), according to an analysis by Kuwaiti think-tank Global Investment House. This marks the fourth consecutive year that Oman has maintained its significant growth, the report said. An increasing focus on non-oil sectors growth is playing a key role in driving the GDP growth, reported Gulf News.
Oman: Wednesday, May 07 - 2008 at 07:26

DFM, ADX show slight dip
Dubai Financial Market showed a minor dip, ending trade 0.39% down. Of the 28 companies traded seven saw their value increase, with Oman Insurance Co showing the highest rise at 5%. The Abu Dhabi Securities Exchange, formerly the Abu Dhabi Securities Market, closed slightly down by 0.28%, ending on 5,040.
United Arab Emirates: Tuesday, May 06 - 2008 at 16:13

Abu Dhabi bourse rebranded
The Abu Dhabi bourse has been renamed the Abu Dhabi Securities Exchange (ADX). The exchange was formerly known as the Abu Dhabi Securities Market. A new corporate logo is accompanying the name change.
United Arab Emirates: Tuesday, May 06 - 2008 at 14:04

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