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  <description>2004 news and features</description>
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  <copyright>(c) 1996-2009 AME Info FZ LLC / Emap Limited. All rights reserved.</copyright>
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    <title>Marubeni wins Taweelah B</title>
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    <pubDate>Thu, 30 Dec 2004 09:16:30 +0400</pubDate>
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        An international consortium headed by Marubeni of Japan and BTU Power from the US is to develop the USD1.7bn Taweelah B power station for Abu Dhabi, reported Gulf News. The consortium will hold a 40 per cent stake in the project. BNP Paribas, ANZ Investment and Kreditanstaldt Fuer Wiederaufbau are to finance the winners.
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    <title>Militants dead in Riyadh</title>
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    <pubDate>Thu, 30 Dec 2004 08:52:24 +0400</pubDate>
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        Saudi police killed seven militants yesterday after several bomb blasts rocked central Riyadh, reported agencies. One bystander was said to have died while the main target of the attacks appeared to be government buildings. The incident is the latest to follow a call to arms by Al Qaeda leader Osama bin Laden.
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    <title>EIA elects Faisal as chairman</title>
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    <pubDate>Thu, 30 Dec 2004 08:33:53 +0400</pubDate>
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        The Emirates Insurance Association has unanimously elected Sheikh Faisal Al Qasimi from Sharjah as its chairman for a two-year term. He is also chairman of Buhaira Insurance, and will work closely with Economy Minister Sheikha Lubna Al Qasimi as the industry faces the challenges of liberalisation in 2005.
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    <title>EFS extends capital base</title>
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    <pubDate>Thu, 30 Dec 2004 08:30:05 +0400</pubDate>
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        An extraordinary meeting of Emirates Financial Services, part of the Emirates Bank Group, has approved an increase in capital to USD34m. EBG is to also invest in debentures and extend a loan of up to USD68m to EFS whose activities have been extended to include underwriting and syndicated loans.
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    <title>BoS enters investment banking</title>
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    <pubDate>Thu, 30 Dec 2004 08:26:45 +0400</pubDate>
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        The Bank of Sharjah is to set up an independent investment banking arm, General Manager Varouj Nerguizian told Gulf News. He said the bank was also looking at the acquisition of an insurance company in the region following its rights issue early last year which tripled its capital base. 
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