2003
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Talal: Retain investments
Saudi investor Prince Alwaleed bin Talal said Arab investors should retain their investments in the United States despite the war in Iraq. He told The Times that investors should try to separate business and economics from politics. This may sound like I am a bird flying without its flock but it is what I believe, he added.
MeMobile banking, win a phone!
Sign up to meMobile, the meBank mobile banking service from Emirates Bank Group, and you might win up to USD27,000, or one of 30 Sony Ericsson T681 mobile phones. Officials said the new mobile bank, formerly BankGSM, had received an outstanding response from customers.
Dubai gold traders feel the pinch
Gold traders in Dubai, which handles about 10 per cent of the world's gold trade, are having a tough time due to volatile gold prices, and several have fled the emirate in recent months. However, some analysts believe that the gold will now gain again in price, not so much due to the war as because the global financial situation could still deteriorate.
UAE mutual funds gain fans
UAE mutual funds are gaining in popularity among investors, with the UAE stock market showing healthy gains since the start of the war in Iraq. Funds also offer foreign buyers the chance to hold stocks that they otherwise could not own. Emirates Financial Services, Daman and Shuaa Capital all run UAE mutual funds. Brokers say the UAE and Saudi bourses are poised to rise strongly once the war is over.
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