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.
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.
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.
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.
