Inmarsat Increases Earnings in 2009
International mobile satellite communications services provider, Inmarsat, announced a healthy increase of 11.9% in net profits from 531.2 to 594.2 million US dollars in 2009.
Inmarsat’s revenues increased by 4.2% from 996.7 billion US dollars to 1.03 billion US dollars. Earnings per share climbed 26.7% from 0.30 to 0.38 US dollar. The full year dividend grew [...]
Petrofac Profit Increased by 33%
Petrofac, an oil-services provider based in the UK, announced that its full year profits increased by more than 33% in comparison to the last year as a result of growth in orders generated in Asia and the Middle East.
Petrofac’s net income soared from 265 million US dollars to 353.6 million US dollars. The value of [...]
Factors such as free zones, abundance of skilled and unskilled labour, advanced infrastructure, and a commitment to anti-piracy and international IP rights were quoted as evidence that the state was an attractive location for foreign investment, according to the UAE’s Minister of Economy, Sultan Bin Saeed Al Mansouri.
To consolidate this view, the government is drafting [...]
ATIC to Increase Stake in AMD
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 [...]
Chief Executives of Etisalat, Tata Communications, Vodafone, Telecom Egypt and Qtel as well as other big telecoms operators will meet at the TMT Finance and Investment Middle East annual Round Table to discuss growth opportunities on April 26-27 in Doha. Karim Sabbagh, Global Practice leader of Telecoms at Booz and Company, will be facilitating the [...]
According to Bloomberg, Standard and Poor’s has announced that there will be a rise in non-performing loans for regional banks as a result of Dubai World’s restructuring and defaults by two Saudi Arabian conglomerates. The rating company notified that ‘The cleanup of Gulf banks’ has not yet completed. Beginning from the 2nd half of 2010 [...]
News Corp’s Fox Eyes Middle East
Fox International is shifting its Middle East operations to Abu Dhabi, both for its online ad network and its documentary-production branch.
Fox International said it would shift some broadcasting functions concerning its Middle East channels from Hong Kong and other places to Abu Dhabi.
The city-state welcomes many international industries including media, aviation and chip-making to diversify [...]
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 [...]
Shah gas field construction project worth 1.1 billion Dirham has been awarded to the Al Jaber Group by Abu Dhabi and ConocoPhillips.
It was reported last week that to develop the sour gas field, the joint venture was considering to award about 36.7 billion Dirham contracts in the first half of the current year. The parties [...]
Sharp Middle East FZE (SMEF) has disclosed a plan to expand its business solution products segment by 20% in 2010, and double its turnover in the next 5 years.
Sharp is a leading manufacturer of Multi-Function Copiers and Printers has established the standard in printing throughout the world. Sharp has also been offering its technology as [...]
