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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
09 March

Growth Opportunities to be Discussed by Major Telecoms Operators

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 [...]

09 March

Bad Loans on the Increase in the Gulf

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 [...]

08 March

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 [...]

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 [...]

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