The GRC Gulf Business Weekly Report - Gulf Research Center
The GRC Gulf Business Weekly Report - Gulf Research Center
The GRC Gulf Business Weekly Report - Gulf Research Center
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<strong>Gulf</strong> <strong>Research</strong> <strong>Center</strong><br />
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<strong>The</strong> UAE Ministry of Economy has thwarted an attempt by the country's cement producers to<br />
raise cement prices by Dh10 per tonne. (<strong>Gulf</strong> News, July 2)<br />
Inflation in the UAE, which peaked at eight per cent last year, could drop to 6 per cent this<br />
year, remaining at lower levels in the short term, according to the latest Standard Chartered<br />
Bank forecasts. (<strong>Gulf</strong> News, July 2)<br />
Dubai unveiled an ambitious strategy for investing in overseas assets with the launch of a<br />
holding company comprising around 20 entities, some of them managing multi-billion-dollar<br />
assets. (<strong>Gulf</strong> News, July 3)<br />
Britain and other West European countries are the main sources of drug money laundered in<br />
the UAE, the governor of the UAE Central Bank said. (Khaleej Times, July 3)<br />
A consortium comprising Nigeria's Transnational Corporation, British Telecoms and Etisalat<br />
won a tender for a 75 per cent stake in Nigeria’s state-run telecom firm NITEL. (Khaleej<br />
Times, July 4)<br />
Abu Dhabi National Oil Company has raised the June retroactive price for its key Murban<br />
crude by 35 cents per barrel to a new high of $68.85, Adnoc said. (<strong>Gulf</strong> News, July 4)<br />
An Etisalat-led consortium won Egypt's third mobile license for 16.7 billion Egyptian pounds<br />
in a fierce contest (<strong>Gulf</strong> News, July 5)<br />
Two <strong>Gulf</strong>-based telecom giants – Investcom of Dubai and MTC of Kuwait – are poised to<br />
stage a comeback as strong contenders for Millicom International Cellular SA, following the<br />
exit of China Mobile from a $ 5 billion race to acquire the Swedish company. (Khaleej Times,<br />
July 5)<br />
Emaar Properties has opened a full-fledged office in Shanghai, marking its entry into China<br />
with a plan to roll out a number of real estate projects including residential, commercial,<br />
hotels and hospitals, a company statement said. (<strong>Gulf</strong> News, July 5)<br />
<strong>The</strong> $4.2-billion Dubai Metro will be maintained and operated by Transport Authority. "We<br />
international firms through a joint venture agreement with the Roads and have gone to the<br />
marketplace and invited well-known international firms to bid for this work. (Khaleej Times,<br />
July 5)<br />
<strong>The</strong> Dubai Financial Market's general index is approaching the key 400-point mark after<br />
falling 1.94 per cent to 416.25 points. (<strong>Gulf</strong> News, July 5)<br />
Dubai Land Department has started registration of freehold properties for non-GCC residents,<br />
according to a source. (<strong>Gulf</strong> News, July 6)<br />
Eighty per cent of high net worth individuals (HNWIs) in the Middle East — the world's<br />
fastest breeding ground for dollar millionaires – have investments and residences in foreign<br />
countries, placing the region's affluent in the forefront of non-domestic asset allocation<br />
worldwide. (Khaleej Times, July 6)<br />
<strong>The</strong> <strong>GRC</strong> <strong>Weekly</strong> <strong>Business</strong> <strong>Report</strong> Page 6 of 7
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