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Etisalat Nigeria, a unit that is 40% owned by UAE-based Emirates Telecommunications Co. (ETISALAT.AD), or Etisalat, has asked the local regulator to postpone the deadline for a USD 2.25 million fine imposed for poor-quality services in the country, the unit's chief executive said Friday.

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GCC markets registered negative performance in general during April after their strong performance during Q1 closing. The Saudi market was the worst performing market during the month, ending down 3.6%, mainly affected by the insurance and investment sector which dropped sharply during the month after their big gains in March. Kuwait and Muscat Markets were the best performers among GCC bourses, gaining 3.30% & 3.14% respectively. The industrial sector leading the gain in Oman, increasing by 8.08% during the month followed by the financial sector which gained 4.29%. In Kuwait, equity markets overall was active but underperformed compare to the other GCC markets from the beginning of the year. Trading volume in the region as whole decreased during the month of April by 25% compared to last month with trading value also decreased by 18% to reach USD 77billion. According to IMF, the GCC economy is expected to grow 5.3% in 2012.

The UAE Real Estate report examines the Commercial Office, Retail and Industrial segments in the context of an increasingly positive macroeconomic perspective which may bring a silver lining to the segment still suffering from oversupply and the legacy of the property bubble.With a focus on the three principal emirates of Dubai, Abu Dhabi and Sharjah, the report covers the rental market performance in terms of rates and yields over the past 18 months and examines how best to maximise returns in the commercial real estate market, while minimising investment risk and exploring the impact of the government led growth on a market already characterized by oversupply and historically low rates. The key potential growth areas, driven by increasing activity on the part of international investors and the potential of the domestic consumer market, are also explored with corporate growth strategies looking to the emirates for expansionary opportunities.Nevertheless, the UAE’s various real estate sectors are developing in different directions and at varying rates. The commercial market in general suffers from oversupply and is forecast to undergo limited growth in the short term; however, BMI believes that there is light at the end of the tunnel and that the market will reach its nadir over the course of 2012.Key Points:- We are forecasting the UAE economy to expand 3.0% in 2012, up slightly from an estimated 3.3% in 2011. The ongoing improvement in consumer and business sentiment will likely result in an uptick in private consumption, although growth in the private non-hydrocarbon sector will be constrained by still weak credit conditions.- In spite of the positive macro fundamentals, we still see mainly downside risks to the real estate markets, especially in the short term, with oversupply ensuring that a depressed market remains.- Due to the emirates’ relative stability over the course of the Arab Spring, tourism has received a real boost. As such we see a bri