Egyptian developer Palm Hills sets IPO price
date: 30 April 2008
EGYPT. The pricing achieved gives Palm Hills an implied market capitalisation of around US$1.88 billion, and the net IPO proceeds will be used to fund existing and planned development projects in Egypt and abroad.

Leighton Holdings wins US$435 million development contracts in Abu Dhabi
date: 30 April 2008
UAE. Australia’s largest construction group and Tourism Development & Investment Co (TDIC) first entered into a joint venture agreement in December 2007.

Airbus opens Middle East logistics centre in Dubai
date: 30 April 2008
UAE. European aircraft manufacturer Airbus opened a logistics centre in Dubai this week to serve fast-growing Middle East carriers.

Aramco Overseas opens staffing office in London
date: 30 April 2008
INTERNATIONAL. After months of preparation, Aramco Overseas Company UK (AOC UK) recently opened for business.

Meeting of national oil companies talks tech solutions
date: 30 April 2008
SAUDI ARABIA. Saudi Aramco’s Research and Development Centre (R&DC) in Dhahran recently hosted the 7th NOC Technology Workgroup Meeting.

Brazilian state governor, Dubai discuss strengthening cooperation
date: 30 April 2008
UAE. Matters of mutual interest, and expansion of commercial relations between Dubai and Brazil, were discussed at a high-level meeting between JAFZA officials and HE Jaques Wagner, Governor of the State of Bahia during his visit to Dubai.

UAE cement plants committed to fixed prices
date: 30 April 2008
UAE. Committment to keeping cement bags marked at AED 17 each.

Saudi firms hit by inflation and property costs
date: 30 April 2008
SAUDI ARABIA. Soaring inflation and high real estate prices are having a negative impact on businesses in Saudi Arabia, where inflation hit a 30-year peak of almost 10% in March, a SABB bank survey showed. The survey found 61% of executives were concerned about inflation while 56% said rising real estate costs will hurt their operations.

Russia to present ‘charter’ for gas producers
date: 30 April 2008
INTERNATIONAL. Russia will put forward a proposed ‘charter’ for a grouping of natural gas producing countries at a meeting in Tehran this week, the website of Iran’s Oil Ministry said.

Minister of Economy leads UAE delegates to World Islamic Economic Forum
date: 30 April 2008
KUWAIT. Prominent international dignitaries and business leaders discuss Islamic economy and business opportunities.
 

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