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Upgrade plans revealed for Dubai port

2011-06-22 10:23:21 (читать в оригинале)

DP World yesterday announced plans to upgrade the facilities of Dubai's Al Hamriya Port.

BMI: UAE Autos Report (Jun-11)

2011-06-22 10:19:00 (читать в оригинале)

Car sales in the UAE are expected to rebound significantly in 2011 as the UAE's economy recovers fromthe Dubai debt crisis and experiences the benefit of higher oil revenue in Abu Dhabi. The UAE isexpected to see growth continue in the medium term, but the rapid growth in the 2010-2011 period will beunusual due to the tailing off of the rebound and a return to more normal growth patterns in the broadereconomy and for consumer spending.The new car market is not the only booming sector, however, as the second-hand car market in the UAEis registering annual sales of 100,000 units and is worth a total amount of AED5.5bn (US$1.5bn),according to The Gulf News. UAE-based Arabian Automobiles, the exclusive vehicle dealer forJapanese automaker Nissan Motor in Dubai and the northern Emirates, registered a 40% increase in itssecond-hand car sales in 2010. It also registered an increase of 11% in new car sales, according toArabian Automobiles' CEO Michel Ayat. The dealer expects sales of new and used cars to equalise overthe coming years owing to the rising popularity of pre-owned vehicles in the region.Luxury car dealers and service centres in the UAE are expecting a windfall from customisation servicesonce the country reforms its road traffic laws. Zawya reports that the government is currently in theprocess of adapting road traffic laws to allow a far broader range of customisation of cars. Currentlymany customisations either require permission or, more commonly, are prohibited by the laws of thecountry.New information about the purchasing habits of UAE consumers is also being uncovered. According to arecent survey, the New Vehicle Buyer Survey, has found that 66% of all new car purchases in the UAEare made by customers between the ages of 18 and 29. Furthermore, first-time buyers make up 61% of allnew car sales, due largely to the young demographic profile of the UAE as a whole. The survey is animportant source of information on the

Insurance TPAs need to have minimum capital base of Dh5m

2011-06-22 10:18:00 (читать в оригинале)

The UAE has tightened requirements governing the health insurance sector, setting the stage for the possible rollout of mandatory medical coverage. Currently, only Abu Dhabi enforces compulsory health care.

Pearl Energy to invest $350m in Indonesia gas field

2011-06-22 10:16:33 (читать в оригинале)

Pearl Energy, a wholly-owned subsidiary of Abu Dhabi's Mubadala Development Company, will invest about $350 million (Dh1.2 billion) in the development of the joint venture Ruby natural gas field in Indonesia in which it holds a 70 per cent stake, Andy Mitchell, Director, Corporate Communications at Mubadala Oil and Gas said.

First Gulf Bank raises limit on foreign ownership

2011-06-22 10:15:52 (читать в оригинале)

The Board of Directors of Abu Dhabi-based First Gulf Bank (FGB) has approved an increase in the foreign ownership limit of the bank from 15 per cent to 25 per cent, FGB said.


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