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Abu Dhabi to build free zone near airport
Abu Dhabi Airports Company plans to develop a free zone near Abu Dhabi International Airport, reported Gulf News. The Abu Dhabi Airport Free Zone will span four million square metres and offer light industrial units, commercial offices and land for lease. The project is part of the Dhs25bn ($6.8bn) redevelopment plan for the airport.
United Arab Emirates: Thursday, April 24 - 2008 at 09:38

M'Sharie to offer stake to investors
M'Sharie, the private equity arm of Dubai Investments, will offer up to 40% of its shares to Gulf investors in a private placement on May 8, reported Gulf News. The firm's managing director Abdul Aziz Al Serkal said 35 investors from around the Gulf have shown interest in buying a stake in the company. M'Sharie's portfolio comprises 19 UAE-based companies, which mainly make products for the construction industry.
United Arab Emirates: Thursday, April 24 - 2008 at 07:08

Bayan to sell 7.85m shares to employees
Bayan Investment Co, a Kuwaiti financial services provider, plans to increase its capital by 2% by selling 7.85 million shares to employees, reported Bloomberg. The company will offer shares at 200 fils apiece, including a premium of 100 fils.
Kuwait: Wednesday, April 23 - 2008 at 14:47

DFM down, ADSM flat
The Dubai Financial Market on Tuesday lost 69.56 points, or 1.20%, to end the day on 5,707. Two of the index's most actively traded companies, Amlak and Deyaar, were down 2.61% and 2.55%, respectively. Meanwhile, the Abu Dhabi Securities Market remained virtually unchanged, up 1.6 points.
United Arab Emirates: Wednesday, April 23 - 2008 at 14:20

Saudi inflation may cross 10% in '08
Saudi Arabia's Central Bank Governor Hamad Saud Al-Sayyari said inflation in the kingdom could exceed 10% this year, which would be the highest level since at least the 1970s, reported Reuters. But inflation in the country may ease in the second half of this year, he added, as government inflation measures take effect and as global commodities demand slows.
Saudi Arabia: Wednesday, April 23 - 2008 at 12:17

Financial crime conference in works
A London-based firm is working to set up a conference on combating money laundering and terrorist financing in Abu Dhabi by April next year, reported Khaleej Times. Nicolas Le Moignan, director of financial crime prevention, International Financial Crime Prevention & Compliance Training, said the conference aims to bring together the public and private sectors in the UAE and the Middle East to discuss and share information on advanced financial crime prevention. However, he said the conference faces a major hurdle because of a UAE law that prohibits the public and private sectors from working together on anti-money laundering and combating the financing of terrorism.
United Arab Emirates: Wednesday, April 23 - 2008 at 11:29

Rice prices jump to record high
Rice prices hit a record yesterday amidst fears that pressure is growing in Thailand, the world's largest exporter, to restrict shipments, reported Bloomberg. Kenji Kobayashi, a grain analyst at Kanetsu Asset Management Co, said any attempt by Thailand to curb exports would create 'panic' in the global market. Rice gained as much as 2.3% in Chicago yesterday, and has more than doubled in the past year.
Wednesday, April 23 - 2008 at 10:55

US to tighten FDI reviews
The US has issued 90 pages of regulations to implement a nwe law tightening security reviews of foreign investments, reported AP. Congress passed the law last year following controversy in 2006 over a plan by DP World to manage six of the largest ports in the US. The proposed regulations will overhaul existing rules to make them conform to the new Foreign Investment and National Security Act that Congress passed last July.
Wednesday, April 23 - 2008 at 10:26