The latest issue features a pinnacle focus on the global financial crisis and what led to the markets to tumble. As well as paying tribute to several empowered women.
TRIPOLI, Nov 10 (Reuters) - Libya will begin building in January a $5 billion economic zone for energy firms operating in the North African country, officials said on Monday.
The planned "Smart Energy City" is a joint project between Libya's state Fund for Economic and Social Development and Bahraini Islamic investment bank Gulf Finance House GFHB.BH.
Dubai's Damac axes 200 jobs as crunch hits property
11/11/2008
Mohamed Alabbar, Emaar's chairman, said earlier this week that growth in the emirate's real estate sector could slow to 9 percent from 13 percent due to the global downturn and that the Gulf's commercial hub had set up a committee to boost confidence in the real estate market.
"I think you will see a lot of sales staff and real estate agents dropping off because of the number of transactions beings reduced due to the financial crisis," said Tim Rose, senior real estate fund manager at Emirates Investment Services.
"There is still a number of buyers out there, but the lack of financing is making it difficult for them."
Real estate stocks led a slump in UAE markets on Tuesday, with Emaar sliding almost 10 percent to a 47-month low. Deyaar DEYR.DU, Union Properties UPRO.DU and Sorouh Real Estate SOR.AD all closed more than 9 percent lower.
Saudi confirms oil supply cuts with Dec curbs
11/11/2008
TOKYO (Reuters) - Top oil exporter Saudi Arabia provided the most visible evidence yet of adhering to OPEC's deal to curb output by telling refiners in Asia that it would cut December supplies by 5 percent, term lifters said on Monday.
State oil firm Saudi Aramco informed at least five customers over the weekend that they would receive about 5 percent less than their contracted allocations next month, the first cutback in 14 months, industry sources with the refiners told Reuters.
QIB: Joining hands with Qatar Red Crescent
10/11/2008
Doha, Qatar – 10 November 2008 - Qatar Islamic Bank (QIB) donated 9,000 first aid kits to Qatar’s Red Crescent at a ceremony held at QIB headquarters. The first aid kits are intended for those making the pilgrimage (Haaj) and are a result of QIB’s aggressively generous Corporate Social Responsibility program (CSR).
As an important facet of QIB’s CSR initiatives, the patronage of Red Crescent has been an annual occurrence for four years marked by progressive yearly donations as QIB’s standing and development in the local, regional and international markets has grown.
Credit Suisse Expands Presence in Saudi Arabia
10/11/2008
Zurich/Riyadh, November 10, 2008 Credit Suisse today announces its majority ownership of Saudi Swiss Securities. The Banks joint venture in Saudi Arabia has been renamed Credit Suisse Saudi Arabia and has been granted a commencement letter for all activities authorized by the Capital Market Authority of the Kingdom of Saudi Arabia.
