Middle East
Dubai's Sheikh Mohammed Tightens Control of Emirate, Downgrades Key Aides Dubai ruler Sheikh Mohammed Bin
Rashid Al Maktoum has consolidated his hold on the debt-laden
emirate, downgrading powerful figures behind the city-state’s
boom that turned to a bust.
Istithmar May Lose Control of W Union Square Hotel at Foreclosure Auction Istithmar PJSC, the Dubai-based
investment company, may lose control of the W New York Union
Square hotel in Manhattan at a foreclosure auction next month
by holders of the mezzanine debt on the property.
Saudi Arabian Shares Fall After World Stock Markets Drop, Paced by Sabic Saudi stocks fell for a second
straight day, led by Saudi Basic Industries Corp. and Al Rajhi
Bank, after Asian, European and U.S. markets declined yesterday
and concern grew that the European Central Bank will phase out
economic stimulus measures.
Emirates NBD May Seek Up to $2 Billion From Bond Sales in 2010, CEO Says Emirates NBD PJSC, the biggest
United Arab Emirates bank by assets, may raise as much as $2
billion selling bonds in foreign markets in 2010 to fund loan
growth.
Dubai International Said to Offer Almatis Junior Lenders 40% Company Stake Dubai International Capital LLC is
offering junior lenders a 40 percent stake in Almatis, a maker
of alumina products, in a debt-for-equity swap, according to two
people familiar with the matter.
Emerging-Market Equity, Commodity Fund Inflows Surge on Weakening Dollar Emerging-market equity and commodity
fund inflows surged last week as investors sought protection
from a weaker dollar, EPFR Global said.
IMF's Lipsky Says Dollar Currency Peg Has Served the Gulf Region Well Gulf states’ dollar peg has served
the region well and inflationary pressures haven’t returned,
John Lipsky, the International Monetary Fund’s first deputy
managing director, said.
Abraaj to Announce Middle East Property Purchases `Soon,' Chief Naqvi Says Abraaj Capital Ltd., a Middle East
private equity firm, said it sees “a very interesting
opportunity” to buy money-making real estate businesses
throughout the region.
Burj Dubai Skyscraper's Rate of Return Just Below 10%, Emaar Chairman Says The rate of return on the Burj
Dubai, the world’s tallest skyscraper, is just below 10 percent,
said Mohammed Alabbar, chairman of Emaar Properties PJSC. The
building will push up surrounding property prices, he said at a
conference in Dubai.
U.S. Stocks Fall as Technology Outlook Worsens; Intel, Dell Shares Tumble U.S. stocks fell, halting a two-week
advance, as a worsening outlook for technology company earnings
added to concern that the eight-month rally in equities outpaced
the prospects for economic growth.
Four Hajj Pilgrims Die From Swine Flu, Saudi Arabia Says, AFP Reports Saudi Arabia said four pilgrims have
died from swine flu infection ahead of the annual Hajj, Agence
France-Presse reported today.
Iran Plans Air-Defense War Games to Protect Nuclear Facilities, AP Reports Iran plans to hold large-scale air
defense war games aimed at protecting its nuclear facilities
from possible attack, the Associated Press said, citing air
force General Ahmad Mighani.
World Powers Voice Disappointment Over Iran's Balking at Atomic Fuel Offer Major United Nations powers voiced
disappointment at Iran’s rejection of a deal to ship its uranium
abroad for enrichment, deepening the standoff over the country’s
nuclear program.
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