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UAE in top 5 for consumer confidence
The UAE ranks in the global top five in consumer confidence according to the Nielsen Global Consumer Confidence Index, which measures the confidence, major concerns and spending habits of online consumers in 51 countries. Piyush Mathur, Nielsen's regional managing director for the Middle East, North Africa and Pakistan, said 'UAE consumers continue to be optimistic about their job prospects and remain confident about the UAE economy. Inflation is a concern but the economy remains buoyant'.
United Arab Emirates: Wednesday, June 18 - 2008 at 14:44

DIC avoids 'politically risky' US deals
Dubai International Capital, the private equity arm of Dubai's sovereign wealth fund, has rejected two deals in July because they may have faced political opposition in the US, said DIC's Managing Director Andrew Wright. He said the company has legal advisers based in Washington to evaluate whether a transaction would face serious opposition, and it frequently rejects proposed transactions that risk opposition from US lawmakers or would provoke national security concerns, reported Bloomberg.
United Arab Emirates: Wednesday, June 18 - 2008 at 13:57

ING targets $5bn for Middle East
ING Group, one of the world's largest fund managers, is looking to raise $5bn in three years to invest in the Middle East as it expands its fund management operations into the region. The Dutch firm's new Middle East Investment Management unit aims to begin production of a range of funds for institutional investors and aims to launch a $1bn long-only equity fund of Middle Eastern stocks in 2009, reported Reuters.
Wednesday, June 18 - 2008 at 10:52

DIFC to be hub for family offices
The Dubai International Financial Centre has announced new regulations to encourage ultra-wealthy families to establish single family offices at the DIFC. The new rules aim to create a platform for wealthy families to set up holding companies at the DIFC to manage private family wealth and family structures anywhere in the world. Dr Omar Bin Sulaiman, Governor of the DIFC, said more than 75% of firms in the Middle East are family-run and total assets of these firms exceed $1tr.
United Arab Emirates: Wednesday, June 18 - 2008 at 10:35

UAE markets hit by terror warnings
UAE shares suffered heavy losses on Tuesday after losing Dhs9.5bn. Analysts have attributed the sharp decline to extensive selling done by foreign portfolios and to warnings issued by the British Foreign Office of possible terror attacks in the UAE.
United Arab Emirates: Wednesday, June 18 - 2008 at 10:11

UAE's inflation at 20-year high
A surge in the cost of housing and the declining value of the dirham have pushed the UAE's inflation to 11.1%, a 20-year high, according to a report by country's Ministry of Economy. Housing accounted for 6.5% of the increase, or 58.6% of the overall inflation rate.
United Arab Emirates: Wednesday, June 18 - 2008 at 07:21

UAE markets end lower
The Dubai Financial Market on Tuesday lost 100.73 points, or 1.78%, to close on 5,560. Dubai Investment Bank, which is the subject of an ongoing fraud investigation, had the day's biggest loss, down 4.56%. Meanwhile, the Abu Dhabi Securities Exchange also finished lower, down 27.12 points, or 0.53%, to end on 5,117.
United Arab Emirates: Tuesday, June 17 - 2008 at 14:40

Global Investment House unit launches IPO
An investment unit of Kuwait's Global Investment House plans to raise up to $500m by selling shares in an initial public offering. Global MENA Financial Assets is seeking to list the shares on the London Stock Exchange on or around July 18, according to a statement. Shares would be sold to 'institutional and professional' investors including Gulf markets. After the transaction is complete, Global MENA would take over eight private equity investments from Global Investment House.
Kuwait: Tuesday, June 17 - 2008 at 13:41