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Bahrain's inflation rises to 4.4%
Annual inflation in Bahrain jumped to 4.4% in October from 3.2% in September, according to new government data. The consumer price index in the kingdom rose to 108.87 points compared with 104.34 points a year earlier.
Bahrain: Thursday, November 27 - 2008 at 12:42

Private sector holiday on Tuesday in UAE
The private sector in the UAE will get a one-day holiday on Tuesday, December 2, on the occasion of 37th UAE National Day.
United Arab Emirates: Thursday, November 27 - 2008 at 10:10

DIC loses $3bn in assets
Sameer Al Ansari, CEO of Dubai International Capital, said DIC's assets under management have dropped by as much as $3bn as a result of the global financial crisis, Khaleej Times has reported. Al Ansari said assets previously estimated to be worth $12-13bn managed by DIC were around $10bn. DIC, the investment arm of Dubai Holding, owns stakes in companies including Daimler, Och-Ziff Capital Management, India's ICICI Bank, Sony Corp. and HSBC Holdings.
United Arab Emirates: Thursday, November 27 - 2008 at 08:23

Interbank liquidity to return 'far sooner than lending'
Commercial banks in the Gulf are likely to hold on to reserves of capital rather than resume lending as soon as the financial constraints loosen, delegates at the Dubai International Financial Centre (DIFC) Week were told.
Middle East: Wednesday, November 26 - 2008 at 16:55

GCC liquidity 'tight' but swift recovery expected
Although liquidity in the Gulf is 'tight', speakers at the Dubai International Financial Centre (DIFC) Week expect the region to recover faster than almost all other areas. Local markets rest on 'sentiment', which GCC governments will be able to help very quickly.
Middle East: Wednesday, November 26 - 2008 at 16:45

UAE markets end mixed
The Dubai Financial Market on Wednesday gained 0.53% to close on 1,872. The day's big gainer was Arabtec, up nearly 15%. Gulf Finance House and Emirates NBD gained 9.38% and 4.05% respectively. Meanwhile, the Abu Dhabi Securities Index lost 1.65% to end the day at 2,685. Aldar and Sorouh lost 1.77% and 1.31% respectively.
United Arab Emirates: Wednesday, November 26 - 2008 at 15:25

Bahrain's Q3 trade surplus rises 41%
Bahrain's third-quarter trade surplus increased 41% to 924.5 million dinars ($2.5bn) from 657.4 million dinars in the second quarter, reported Bloomberg, citing figures from the Central Bank of Bahrain. Imports declined 21% to 1 billion dinars as oil imports fell and non-oil imports more than halved. Exports declined 0.3% to 1.9 billion dinars.
Bahrain: Wednesday, November 26 - 2008 at 15:02

Gulf stocks may dip further, say analysts
Stocks in the Middle East may continue to fall as lower oil and real-estate prices weaken economies region, reported Bloomberg. The MSCI GCC Countries Index of 115 gulf companies, already down 57% in 2008, may drop 20% more in the next six months, said Jeff Chowdhry, who helps oversee $150bn at F&C Asset Management. While the deteriorating outlook for profits caused the retreat in Gulf stocks at the start of the year, this month's 20% decline in the MSCI GCC index is mostly the result of sellers who dumped shares to repay loans, according to Oliver Bell, the head of emerging-market specialist equities at Pictet Asset Management.
Middle East: Wednesday, November 26 - 2008 at 14:16