http://www.zawya.com/en-usCopyright 2011 Zawya Ltd. All rights reserved.Sat, 14 May 2011 04:21:00 GMT5014476http://www.zawya.com/http://www.zawya.com/images/newsletter_zawya_logo.gifhttp://www.zawya.com//story.cfm/sidZAWYA20110514042155/UAEChina_Direct_NonOil_Trade_Hits_Dh46bnWith around 3,000 Chinese companies operating in the UAE and a huge community of 200,000 Chinese residents, direct non-oil trade exchange between Dubai and China has hit 16 per cent over the last five years, it was revealed.Sat, 14 May 2011 05:45:42 GMTKhaleej Times ZAWYA20110514042155Openhttp://www.zawya.com//story.cfm/sidZAWYA20110514035139/Modon_Promotes_Industrial_CitiesSaudi Industrial Property Authority (MODON) has invited all government and private schools, institutes and colleges, to visit the industrial cities in Makkah, Madinah, Riyadh, Al-Ahsa, Dammam, Jeddah, Asir, Qassim and Hail, and keep the students informed of the Kingdom's industrial achievements. Sat, 14 May 2011 05:33:27 GMTArab News ZAWYA20110514035139Openhttp://www.zawya.com//story.cfm/sidZAWYA20110514035405/Arab_Stocks_Seek_Incentives_After_Q1_ResultsArab bourses closed last week mixed as investors sought clues to the direction of markets pending information about the performance of businesses in the second quarter of the year, financial analysts said.Sat, 14 May 2011 05:32:10 GMTArab News ZAWYA20110514035405Openhttp://www.zawya.com//story.cfm/sidZAWYA20110514040928/Asians_Arabs_In_UAE_Got_Better_Pay_Hikes_Than_WesternersIncome disparity between Western and Asian expatriate professionals in the country is going down as a result of increased supply of western professionals.Sat, 14 May 2011 05:31:24 GMTEmirates 24|7 ZAWYA20110514040928Openhttp://www.zawya.com//story.cfm/sidZAWYA20110514041435/DIFC_Investments_Keeps_Off_Realty_For_Time_BeingDIFC Investments (DIFCI), the investment arm of the Dubai International Financial Centre (DIFC), has ruled out plans to invest in the real estate sector, its chief executive has said.Sat, 14 May 2011 05:30:11 GMTEmirates 24|7 ZAWYA20110514041435Openhttp://www.zawya.com//story.cfm/sidZW20110513000083/Iraq_West_Qurna_Oil_Output_To_Triple_In_Next_3_Years__LukoilOAO Lukoil's (LKOH.RS) development of the West Qurna field with partner Statoil ASA (STO) is expected to yield 150,000 barrels of oil a day by 2013, with production increasing to around 400,000-500,000 barrels a day by 2014, Gati Al-Jebouri, executive director and chief commercial officer of Lukoil Mid-East said at a conference Friday. Fri, 13 May 2011 11:36:30 GMTZawya Dow Jones News ZW20110513000083Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110513000075/Arab_World_Needs_Reconstruction_Bank_To_Aid_Reform_OfficialThe countries of North Africa and the Middle East need a Bank for Reconstruction and Development, similar to the one created to help Eastern Europe after the fall of the Berlin Wall, to help support the process of change now underway, a senior Arab government official said Friday. Fri, 13 May 2011 08:30:27 GMTZawya Dow Jones News ZW20110513000075Subscriptionhttp://www.zawya.com//story.cfm/sidZAWYA20110513055631/KSA_Fresh_Warning_Over_Debt_Default_CrisisFresh concerns over a looming debt default crisis have sparked calls for additional measures to tackle the problem.Fri, 13 May 2011 07:34:12 GMTArab News ZAWYA20110513055631Openhttp://www.zawya.com//story.cfm/sidZAWYA20110513052746/New_Dh16B_Road_Linking_DubaiFujairah_To_Open_In_JulyThe Dh1.6 billion new Shaikh Khalifa bin Zayed Road which links Dubai to the Central Region and Fujairah, will be opened by the end of July.Fri, 13 May 2011 07:21:34 GMTKhaleej Times ZAWYA20110513052746Openhttp://www.zawya.com//story.cfm/sidZAWYA20110513053003/UAEs_Tharaa_To_Develop_Properties_Worth_600M_In_Poland The Military Property Agency of Poland, or MPA, has signed an MoU with UAE-based Tharaa Holding, which will develop and promote property worth $600 million in Poland. Fri, 13 May 2011 07:20:00 GMTKhaleej Times ZAWYA20110513053003Openhttp://www.zawya.com//story.cfm/sidGN_12052011_130520/UAE_Private_Sector_Has_Only_7_Emiratis Only seven per cent of the workforce in the UAE's private sector is Emirati, according to official data for 2009, said Saqr Gobash, Minister of Labour. Fri, 13 May 2011 05:14:26 GMTGulf News GN_12052011_130520Openhttp://www.zawya.com//story.cfm/sidGN_12052011_130528/Gulf_Forces_Will_Stay_In_Bahrain_After_Emergency_Is_Lifted__Army_ChiefThe Saudi-led Gulf force sent to maintain security in Bahrain following anti-government protests will remain in Bahrain even after emergency rule is lifted next month, the head of the kingdom's military said in a move that could worsen tensions with Iran.Fri, 13 May 2011 05:01:04 GMTGulf News GN_12052011_130528Openhttp://www.zawya.com//story.cfm/sidGN_12052011_130570/Crackdowns_Fail_To_Deter_Protesters_In_The_RegionDespite widening crackdowns across the region on anti-regime protesters, today will yet again be an 'explosive day' with massive protests planned in Syria, Yemen and Libya where the deathtolls keep rising daily. Fri, 13 May 2011 04:56:31 GMTGulf News GN_12052011_130570Openhttp://www.zawya.com//story.cfm/sidZW20110512000155/Shuaas_Investment_Banking_Head_Kubeisy_To_Leave_FirmMakram Kubeisy, head of investment banking at Shuaa Capital (SHUAA.DFM), is leaving the firm as part of the firm's latest round of job cuts, in the latest high-level departure at the Dubai-based investment bank, a Shuaa spokeswoman confirmed Thursday. Fri, 13 May 2011 04:52:13 GMTZawya Dow Jones News ZW20110512000155Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110512000147/Dana_Gas_Says_1Q_Net_Profit_Surges_On_Oil_Price_OutputDana Gas PJSC Thursday reported an almost threefold year-on-year increase in first-quarter net profit to 92 million U.A.E. dirhams ($25 million) on the back of strong oil prices and higher output from Iraq's Kurdistan region and Egypt, but the United Arab Emirates-based oil and gas company said it was facing payment delays in both countries. Thu, 12 May 2011 13:57:14 GMTZawya Dow Jones News ZW20110512000147Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110512000141/Egypt_Says_EGP135_Bln_Lost_In_Tourism_Since_Revolt__ReportsEgypt has lost 13.5 billion Egyptian pounds ($2.26 billion) in tourism revenues in the three months since an uprising overthrew president Hosni Mubarak, the country's tourism minister said in reports published Thursday. Thu, 12 May 2011 12:59:50 GMTZawya Dow Jones News ZW20110512000141Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110512000142/Kuwait_NI_Grp_Hldrs_Cancel_Planned_Cap_Hike_OK_Losses_WriteOffKuwait's National Industries Group Holding, or NI Group, Thursday said its shareholders have decided to revoke their previous decision--made in 2009-- to increase the company's capital by 25%. Thu, 12 May 2011 12:58:36 GMTZawya Dow Jones News ZW20110512000142Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110512000140/Glencore_To_Raise_Up_To_US318_Mln_In_HK_Offering_Says_Commodities_Demand_StrongGlencore International PLC said Thursday demand for commodities remains strong despite a recent price correction as the company seeks to raise up to HK$2.47 billion (US$318 million) in a Hong Kong retail offering. Thu, 12 May 2011 12:55:56 GMTZawya Dow Jones News ZW20110512000140Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110512000138/Kuwait_Bourse_Warns_91_Cos_Over_Failure_To_Report_Fincl_ResultsThe Kuwait Stock Exchange, or KSE, Thursday said it will suspend trading in the shares of 91 listed companies if they didn't submit their first-quarter financial results before Monday morning.Thu, 12 May 2011 12:24:50 GMTZawya Dow Jones News ZW20110512000138Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110512000136/Amlak_Finance_1Q_Loss_At_AED54M_On_Higher_ProvisionsDubai-based Islamic mortgage company Amlak Finance PJSC said Thursday it made a net loss of AED54 million ($14.70 million) in the first quarter of 2011, compared to a loss of AED3 million last year due to falling revenues and higher provisioning. Thu, 12 May 2011 11:17:47 GMTZawya Dow Jones News ZW20110512000136Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110512000134/Alba_1Q_Net_Profit_Up_26_At_88M_On_Higher_Prices_SalesAluminium Bahrain, also known as Alba, said its first-quarter net profit rose 26% to $88 million compared with $70 million for the year-earlier period as it benefited from strong global aluminum prices.Thu, 12 May 2011 10:49:05 GMTZawya Dow Jones News ZW20110512000134Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110512000133/Most_Gulf_Stk_Mkts_End_Lower_Track_Global_WeaknessMost stock markets in the Persian Gulf end lower Thursday; track global equity weakness and a sharp drop in oil prices.Thu, 12 May 2011 10:41:28 GMTZawya Dow Jones News ZW20110512000133Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110512000132/Kuwait_Investment_Authority_Wont_Sell_Stake_In_Agricultural_Bank_Of_ChinaThe Kuwait Investment Authority doesn't plan to sell the stake in Agricultural Bank of China Ltd. that it has held since the bank's initial public offering after the lock-up period expires, the fund's managing director Bader Mohammad Al-Sa'ad said.Thu, 12 May 2011 10:40:49 GMTZawya Dow Jones News ZW20110512000132Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110512000131/Jordan_Central_Bank_Head_New_Rules_May_Draw_From_Islamic_FinanceNew global regulatory standards are likely to draw from Islamic finance principles, as Islamic finance has proved more resilient than the conventional one during the global financial crisis, Faris Sharaf, governor of the central bank of Jordan said.Thu, 12 May 2011 10:27:06 GMTZawya Dow Jones News ZW20110512000131Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110512000126/Egypt_Citadel_Delays_Plans_To_Exit_Investments_ReportEgypt's private equity investor Citadel Capital has decided to delay plans to exit its investments for a 12-18 months, pan-Arab Asharq Al Awsat daily reports Thursday citing an executive.Thu, 12 May 2011 09:58:44 GMTZawya Dow Jones News ZW20110512000126Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110512000119/Kuwait_Aayan_Leasing_To_Ink_Restructuring_Plan_In_2_MosReportKuwait's A'ayan Leasing and Investment Co. is expected to finally sign its restructuring plan within two months after a delay of over two years, Kuwait-based Al Watan daily reports Thursday citing an executive.Thu, 12 May 2011 08:36:30 GMTZawya Dow Jones News ZW20110512000119Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110512000115/Dana_Gas_Says_1Q_Net_Profit_Surges_On_Oil_Price_OutputDana Gas, the United Arab Emirates-based oil and gas company, said first-quarter net profit rose almost threefold year on year to 92 million U.A.E. dirhams ($25 million), beating analyst expectations, due to strong oil prices and higher output in Iraq's Kurdistan region and Egypt.Thu, 12 May 2011 08:08:07 GMTZawya Dow Jones News ZW20110512000115Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110512000112/Kuwait_Pete_1011_Profit_Doubles_To_KWD2B_Vs_Earlier_YrReportKuwait Petroleum Corp., or KPC, the umbrella organization of the Gulf state's government-owned oil firms, saw its net profit double to 2 billion Kuwaiti dinars ($7.27 billion) in fiscal year 2010/2011 compared with the previous fiscal year, Kuwait-based Al Watan daily reports Thursday citing an executive.Thu, 12 May 2011 07:16:12 GMTZawya Dow Jones News ZW20110512000112Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110512000109/Gulfnav_1Q_Net_Profit_Plummets_On_Yr_Sees_RevitalizationGulf Navigation Holding, a Dubai-based ship owner and maritime services company, said its first quarter profit fell to 221,000 U.A.E. dirhams ($60,167), from AED3.07 million in the year earlier period.Thu, 12 May 2011 06:39:01 GMTZawya Dow Jones News ZW20110512000109Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110512000110/Kuwait_National_Airways_Lays_Off_Most_Of_Its_600_WorkersKuwait National Airways, better known as Wataniya Airways, has dismissed most of its 600 workers and has terminated aircraft lease contracts, Kuwait-based Al Rai daily reports Thursday citing a top executive. Thu, 12 May 2011 06:32:51 GMTZawya Dow Jones News ZW20110512000110Openhttp://www.zawya.com//story.cfm/sidZW20110512000024/Tabreed_Board_Names_Waleed_Al_Muhairi_As_ChmnNational Central Cooling Co., or Tabreed, said Waleed Al Mokarrab Al Muhairi was elected by its new board of directors as the company's chairman and Khaled Al Qubaisi was reappointed as managing director.Thu, 12 May 2011 06:31:36 GMTZawya Dow Jones News ZW20110512000024Subscriptionhttp://www.zawya.com//story.cfm/sidANA20110511T145015ZLGE72/Jordan_Morocco_Could_Boost_GCC_Monarchy_ClubJordanian and Moroccan bids to join the Gulf Cooperation Council could help buttress oil-rich monarchies against Arab uprisings and prove financially beneficial to the new members, analysts say.Thu, 12 May 2011 06:27:00 GMTAFP ANA20110511T145015ZLGE72Openhttp://www.zawya.com//story.cfm/sidZW2011051221/Deyaar_1Q_Pft_At_AED26_Mln_Vs_AED100_Mln_Loss_Yr_AgoDubai-based real estate developer Deyaar Development said it made a first quarter net profit of 26 million U.A.E. dirhams ($7.08 million) compared with a net loss of AED100 million for the same period last year as it delivered new projects.Thu, 12 May 2011 05:11:31 GMTZawya Dow Jones News ZW2011051221Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110512000022/Weak_Global_Stocks_Oil_To_Weigh_On_Gulf_MarketsStock markets in the Gulf are seen pressured by mostly weak global equities and a sharp slide in oil prices.Thu, 12 May 2011 05:06:53 GMTZawya Dow Jones News ZW20110512000022Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110512000018/Egypts_Comml_Intl_Bank_1Q_Net_42_As_Turmoil_Stymies_Econ_ActivityCommercial International Bank, or CIB, Egypt's largest lender by market value, posted a 42% drop in first quarter net profit to 308 million Egyptian pounds ($52 million), compared with the year earlier, as the impact of the country's revolution slowed business activity in Egypt and dragged on earnings.Thu, 12 May 2011 04:51:59 GMTZawya Dow Jones News ZW20110512000018Subscriptionhttp://www.zawya.com//story.cfm/sidGN_11052011_120523/Dubai_Investors_File_Police_Complaint_After_Losing_17MA group of Dubai-based investors who claimed to have lost $17 million (Dh62.43 million) are filing a police complaint against the fund management company they invested with and the financial adviser who introduced them to the fund.Thu, 12 May 2011 04:38:09 GMTGulf News GN_11052011_120523Openhttp://www.zawya.com//story.cfm/sidZAWYA20110512033519/Saudi_Arabias_SITC_SR300M_IPO_OversubscribedSaudi Integrated Telecommunications Co.'s (SITC) SR300 million initial public offering (IPO), this year's first IPO on the biggest Arab bourse, was more than twice oversubscribed, according to official figures.Thu, 12 May 2011 04:32:48 GMTArab News ZAWYA20110512033519Openhttp://www.zawya.com//story.cfm/sidZAWYA20110512040916/SIB_Announces_Sukuk_IssuanceSharjah Islamic Bank, or SIB, has revealed that the bank is gearing up to issue Islamic bonds (sukuk) that will soon be listed on the London Stock Exchange.Thu, 12 May 2011 04:28:24 GMTKhaleej Times ZAWYA20110512040916Openhttp://www.zawya.com//story.cfm/sid20110511_13171_108/Palestinian_Bond_Issue_Raises_70mThe Palestinian economy passed a fresh milestone this week, after Padico Holding became the first Palestinian company to successfully raise capital by issuing corporate bonds.Thu, 12 May 2011 04:21:56 GMTFinancial Times 20110511_13171_108Openhttp://www.zawya.com//story.cfm/sidZAWYA20110512035232/Egypt_Goes_To_Interpol_For_Damac_Chairman_ReportsUncertainty surrounded the case involving the Criminal Court of Giza in Egypt sentencing Hussain Sajwani, Chairman of Damac to five years in jail.Thu, 12 May 2011 04:20:37 GMTEmirates 24|7 ZAWYA20110512035232Openhttp://www.zawya.com//story.cfm/sidZW20110511000144/Libya_Rebels_Say_Oil_Facilities_Seriously_DamagedLibyan rebels fighting the regime of Col. Moammar Gadhafi said Wednesday their ability to produce oil in the east of the country has been seriously damaged due to attacks by government forces.Thu, 12 May 2011 04:06:36 GMTZawya Dow Jones News ZW20110511000144Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110511000146/News_Corp_Ups_Stake_In_Alwaleeds_Rotana_For_35_MlnUnder the latest agreement, News Corp. will exercise 50% of its previously announced option in Rotana's newly-issued shares, and has retained the right to exercise the remaining 50% of the option until November 2012, the Saudi group said in an emailed statement Wednesday.Thu, 12 May 2011 04:05:30 GMTZawya Dow Jones News ZW20110511000146Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110511000142/Syria_Will_Need_10_Mcm_Of_Gas_For_New_Power_Generation_ProjsSyria's new power generation projects will need more than 10 million cubic meters, or mcm, of natural gas a day to operate when completed, the official Syrian Arab News Agency, or Sana, reports Wednesday citing Imad Khamis the country's minister of electricity. Wed, 11 May 2011 13:52:46 GMTZawya Dow Jones News ZW20110511000142Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110511000139/Saudi_Aramco_Starts_Low_Sulphur_Diesel_Production_At_Ras_TanuraSaudi Arabian Oil Co., or Saudi Aramco, said it started production at its new low-sulphur diesel unit at its Ras Tanura refinery on the Persian Gulf coast.Wed, 11 May 2011 12:54:11 GMTZawya Dow Jones News ZW20110511000139Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110511000132/News_Corp_Ups_Stake_In_Alwaleeds_Rotana_For_35_MillionNews Corp. (NWS) has reached an agreement to increase its stake in Rotana Media Group, majority-owned by Saudi billionaire Prince Alwaleed bin Talal, to 14.53% for $35 million, the Saudi media company said.Wed, 11 May 2011 11:58:51 GMTZawya Dow Jones News ZW20110511000132Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110511000131/Drake__Scull_1Q_Net_Pft_Up_21_At_AED51M_On_New_ProjsDubai-based Drake & Scull International PJSC said first-quarter net profit rose 21% to 51 million U.A.E. dirhams ($13.8 million) from AED42.2 million in the year-ago period on higher revenues from new projects across the region.Wed, 11 May 2011 11:51:02 GMTZawya Dow Jones News ZW20110511000131Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110511000127/Egypt_Project_Tendering_Back_To_Normal__Orascom_Construction_CEOBidding and project tendering in Egypt are almost back to normal despite political turmoil, far-reaching corruption investigations against business leaders and worsening communal tensions, Nassef Sawiris, the chief executive of Orascom Construction Industries, or OCI, said.Wed, 11 May 2011 11:26:20 GMTZawya Dow Jones News ZW20110511000127Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110511000130/Mideast_Fixed_Income_Fund_Mkt_Suffers_On_Lack_Of_New_SupplyENBDThe Middle East's $163 billion secondary fixed income fund market will offer lower returns in the coming few months before it rallies again on renewed competition from new bond issues, a senior Emirates NBD executive said.Wed, 11 May 2011 11:22:34 GMTZawya Dow Jones News ZW20110511000130Subscriptionhttp://www.zawya.com//story.cfm/sidZW20110511000120/Egypts_OCI_1Q_Net_Surges_77_On_Yr_Fertilizer_Unit_StarsEgypt's Orascom Construction Industries, or OCI, reported a 77% jump in first-quarter net profit to $206.1 million, from the year ago period, and said it's confident infrastructure spending will accelerate across the region despite recent political unrest.Wed, 11 May 2011 10:56:05 GMTZawya Dow Jones News ZW20110511000120Subscription