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Business and Finance (video)

ADX, DFM plummet
The Abu Dhabi Securities Exchange has fallen a further 4.72% today. The total of 2,813 trades pushed six companies up but 29 others fell, led by the banking and energy sectors. The Dubai Financial Market plunged 6.86%, with only one company, Gulf Finance House, going up. Emaar led the decline, falling to just Dhs6.80 a share.
United Arab Emirates: Sunday, October 05 - 2008 at 15:38

Qatar money supply growth at 10%
Qatar's money supply grew by 9.8% in Q2 2008, compared to 13.2% in Q1, according to MEED. Analysts say that the slow down in growth could be an indication that inflation, which stands at 14.75%, has peaked.
Qatar: Sunday, October 05 - 2008 at 11:27

DIFC Investments launches property fund
DIFC Investments is launching a real estate fund that will invest in Dubai and the UAE's real estate sector. Operated through its real estate arm, it has launched the fund because of the 'great potential of the UAE's real estate sector', following its huge growth over the past five years. The group said it would announce investments in property projects over the coming months.
United Arab Emirates: Sunday, October 05 - 2008 at 09:50

Amlak, Tamweel in merger talks
Amlak Finance and Tamweel have announced they have begun exploratory discussions for a possible merger of their respective operations. A joint steering committee, chaired by the Chief Executive Officer of Investment Corporation of Dubai has been formed to oversee the exploratory discussions for a possible merger and will include the Chairmen of both Amlak Finance and Tamweel.
United Arab Emirates: Saturday, October 04 - 2008 at 16:51

$700bn US bailout signed
The United States Congress has approved the $700bn US government bailout of the battered financial industry and sent it to President George W. Bush who quickly signed it, AP has reported. This meant the bill would grant the Treasury Department $700bn to purchase bad mortage-related securities.
United Arab Emirates: Saturday, October 04 - 2008 at 10:46

MSCI Barra launches new index
Global index compiler MSCI Barra has launched an index to track stocks in frontier and smaller emerging markets such as Argentina, Egypt, Pakistan, Peru and the Philippines, Reuters has reported. MSCI Frontier Emerging Markets Index would also include more developed markets from its emerging markets index such as Argentina, Colombia, Egypt, Jordan, Morocco, Pakistan, Peru and the Philippines.
Middle East: Wednesday, October 01 - 2008 at 09:42

Kuwait pours in more cash
Kuwait has injected cash into the financial system, according to bankers in a move aimed at shoring up confidence in its banks due to deepening global financial crisis, Reuter has reported. A one-week and one-month funds were offered to signal to markets there was sufficient liquidity after a recent slide in stocks in its bourse.
Kuwait: Tuesday, September 30 - 2008 at 09:57

Cumberland buys 20% in MEBF
Cumberland Place Investments has agreed to pay £400,000 (payable as to 40m shares of 1p) in return for a 20% stake at Middle East Business Forum (MEBF). MEBF is a provider of focused networking and business forums in the UAE, organising events and conferences to promote business and trade both with, and in, the Middle East.
United Arab Emirates: Tuesday, September 30 - 2008 at 09:38