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ATIC to Increase Stake in AMD

Middle East : 09 March

The Chief Executive of Abu Dhabi government controlled Advanced Technology Investment Company; Ibrahim Ajami has announced plans to increase the company’s stake in Global Foundries from 68 per cent to 70 per cent to take over the complete AMD stake in the chip manufacturer. Ajami told that ATIC intends to purchase the remaining stake through a capital call process during the next 3 to 4 years. The plan is to ensure that Global Foundries is adequately capitalized and AMD is an attractive proposition for acquisition.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
08 March

UAE’s Non-Oil Foreign Trade Reduces by 16 % Last Year

Due to the international monetary crisis, UAE’s non-oil international trade decreased by 16 per cent from 788.7 billion Dirham in 2008 to 66.3 billion Dirham in 2009.
Imports decreased by 29% from 565.7 billion Dirham in 2008 to 449.2 billion Dirham in 2009. However, exports increased by 9% to 66 billion Dirham in 2009 whereas re-exports [...]

08 March

Biggest Upsurge in Dubai Shares Since January

Rises in Gulf markets was led by Dubai shares as a consequence of international economic revival followed by smaller –than-expected U.S. job losses and highest oil prices in about 2 months.
The Dubai Financial Market General Index surged by 2.3% to 1,621.73. Abu Dhabi’s Index rose by 0.8% and Oman’s MSM30 Index climbed by 0.5%. Bahrain’s [...]

03 March

Growth of Insurance Sector Predicted

Prospects of growth for insurance sector in the Middle East and North African region are bright. Space insurance is among the few financial sectors that have withstood the international financial crisis.
Governor of the Dubai International Financial Centre, Ahmed Humaid Al Tayer said that efforts by regional governments to induce people to save for rainy days [...]

02 March

5,200 New Jobs in Qatari Financial Services

The global search company, Kinsey Allen International forecast that due to comparative strength and boost in foreign investment, about 5,200 new financial services vacancies will be created in Doha during the current year. Employees’ strength in Doha’s financial services will be increased from 14,900 to 20,100 people as compared to only 4,600 people in 2006. [...]

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