Tadawul holds steady
Saudi Arabia: Saudi’s Tadawul ended the day up by only 0.01% at 6,400.39. Fifty-nine stocks rose, while 61 fell. Alinma Bank was the most traded by volume and by value, but ended the day down at SR13.75. Gulf Union posted the biggest rise, going up by 9.96%. [AMEInfo.com]
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Kuwait Restores Support For Gulf Currency In January
Kuwait strongly backs the launch of the Gulf monetary union and single currency on time in January 2010, the undersecretray of the finance ministry said on Monday, a day after the ministry demanded a delay.
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Gulf Capital Investments Targeting Saudi Arabia, UAE and Egypt
With more than half of the assets under management in regional Private Equity (PE) companies still un-invested, a limited number of deal flows and an overly-cautious capital, post-crisis survival will be challenging to many,” according to Dr Karim El Solh, Chief Executive Officer of Gulf Capital, a leading GCC Private Equity firms.
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Sabic To Set Up SR375M Plastic Development Center
Saudi Basic Industries Corporation will set up an SR375 million Plastic Applications Development Center at Riyadh Techno Valley, said Khalid A. Al-Mana, Sabic’s Vice President, Polymers Division.
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Jeddah hosts first Saudi International Boat Show to boost domestic tourism
Saudi Arabia: Under the patronage of His Royal Highness Khaled Al Faisal Bin Abdulaziz, the Prince of Mecca Region, and with the presence of His Royal Highness Sultan Bin Salman Bin Abdulaziz, Chairman of the Saudi Commission for Tourism and Antiquities, Saudi International Boat Show, the first event of its kind in the Kingdom, will be held 14-17 October 2009 at the Al Furusya Marina and Yacht Club in Jeddah. [AMEInfo.com]
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Jeddah hosts first Saudi International Boat Show to boost domestic tourism
Saudi Arabia: Under the patronage of His Royal Highness Khaled Al Faisal Bin Abdulaziz, the Prince of Mecca Region, and with the presence of His Royal Highness Sultan Bin Salman Bin Abdulaziz, Chairman of the Saudi Commission for Tourism and Antiquities, Saudi International Boat Show, the first event of its kind in the Kingdom, will be held 14-17 October 2009 at the Al Furusya Marina and Yacht Club in Jeddah. [AMEInfo.com]
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Markaz: GCC Quants (Oct-09)
This is a PDF report.
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Sabic soon to set up SR375m plastic development center
Saudi Basic Industries Corporation will set up an SR375 million Plastic Applications Development Center at Riyadh Techno Valley, said Khalid A. Al-Mana, Sabic’s Vice President, Polymers Division.
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IDB Plans $1 Billion Investment Bank
Establishing an Islamic mega-investment bank with an initial capital of $1 billion was discussed at a meeting of prospective investors at the headquarters of the Islamic Development Bank (IDB) in Jeddah.
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SICO: GCC Economics - The Numbers (11-Oct-09)
Attached is our monthly report “GCC Economics - The Numbers” providing a summary of the key GCC economic statistics reported by respective central banks. The report provides comparable data for all GCC countries so that the reader can compare and contrast the trends. The report also highlights some of the key trends and tries to identify relevant parameters on a regular basis. The report covers the following:
- Broad Money Supply
- GCC Banks’ Asset, Equity, Deposits, Gross and Total Loans Extended
- Banks’ Net Foreign Asset and Central Banks FX Reserves
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Tadawul supported by Insurance firms
Saudi Arabia: The Saudi Tadawul registered a small rise on its second day of trading of the week, going up by 0.45% to 6,399.63. The market was strongly supported by the insurance sector, with Al Ahlia, Saqr and Trade Union as the top three gaining stocks of the day’s trading. [AMEInfo.com]
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Mobily reschedules Bayanat takeover loan
Etihad Etisalat (Mobily) rescheduled a short-term, Murabaha-based Islamic finance facility it had obtained last year for the acquisition of Bayanat Al Oula.
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Saudi Arabia to reinforce its Middle Eastern economic leadership at Saudi PPPP 2009
Saudi Arabia: Saudi Arabia has emerged as the most attractive investment destination in the Middle East’s petrochemical, printing, packaging and plastic industries, revealed Riyadh Exhibitions Company (REC), organiser of “Saudi PPPP 2009″, in a press conference held today (Sunday, October 11, 2009) at the Four Seasons Hotel in Riyadh. [AMEInfo.com]
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ME Oil Exporters’ Foreign Reserves To Rise In 2010
Oil exporters in the Middle East and North Africa region are expected to increase their international reserve positions by over 100 billion dollars in 2010 as oil prices rebound, the IMF said.
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Erfan and Bagedo General Hospital chooses Cisco to help drive improved healthcare in Saudi Arabia
Saudi Arabia: Cisco has announced that the Dr. Erfan and Bagedo General Hospital, one of the oldest private hospitals in the Kingdom of Saudi Arabia and a leading healthcare establishment, will be deploying a Cisco Unified Communications network to enable a collaborative Connected Health community environment. [AMEInfo.com]
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Erfan and Bagedo General Hospital chooses Cisco to help drive improved healthcare in Saudi Arabia
Saudi Arabia: Cisco has announced that the Dr. Erfan and Bagedo General Hospital, one of the oldest private hospitals in the Kingdom of Saudi Arabia and a leading healthcare establishment, will be deploying a Cisco Unified Communications network to enable a collaborative Connected Health community environment. [AMEInfo.com]
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GCC Common Drug Policy paying off well: health minister
All member countries are reaping benefits from the Common Drug Policy put in place by the Gulf Co-operation Council, says Dr Ali bin Mohammed bin Moosa, Minister of Health.
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