Middle East
Dubai World's Debt Restructuring Plan Will Be `Fair,' Sheikh Ahmed Says Dubai World, the state holding
company restructuring $26 billion in debt, will present
creditors a “fair” plan to protect long-term relations with
banks and contractors, Dubai’s fiscal committee head said.
GDF, Siemens, Alstom Turn to Saudi Partners for $400 Billion in Contracts ACWA Power International, the
biggest Saudi power project developer, was rebuffed by GDF Suez
SA and Marubeni Corp. in 2004 when it proposed partnering to bid
for a $2.4-billion desalination and power plant.
Israel's Fischer Said Likely to Serve Second Term After Bank Law Passed Bank of Israel Governor Stanley
Fischer is likely to agree to a second term after parliament
overhauled the law regulating the central bank for the first
time since 1954, a person familiar with the situation said.
Al-Suwaidi Says Dubai Isn't Likely to Need Additional Central Bank Support United Arab Emirates Central Bank
Governor Sultan bin Nasser al-Suwaidi said Dubai isn’t likely to
need more central bank aid and the federal government is strong
enough to deal with future crises.
Emirates Plans to Order More Than 12 Planes to Meet Demand, Chairman Says Emirates, the biggest Arab airline,
plans to order more than 12 planes to meet rising demand,
Chairman Sheikh Ahmed bin Saeed al-Maktoum said.
Dubai Index Gains as Al-Suwaidi Says the Emirate May Not Need Further Aid Dubai shares rose to the highest in
two months as the United Arab Emirates’ central bank governor
said the sheikhdom may not need more aid from the bank and a
Dubai World restructuring plan will be discussed “very soon.”
Citadel Capital Swings Into Full-Year Profit of $18 Million After Losses Citadel Capital Corp., an Egyptian
private equity firm, posted a net income of 99.3 million
Egyptian pounds ($18 million) in 2009.
Israel Passes Central Bank Law Sought by Fischer as He Weighs Second Term Israel’s parliament approved a
central bank law today that would set up a monetary policy
council, a vote that Governor Stanley Fischer has said would be
“important” as he considers a second term.
Egyptian Stocks Advance Most in Five Weeks as Mubarak Health Concerns Wane Egypt’s benchmark stock index
advanced, ending a three-day losing streak, as investor concerns
about the health of President Hosni Mubarak waned following his
gall bladder operation.
Oil Extends Gains as Dollar Weakens, OPEC Signals It Won't Boost Output Crude oil traded near $82 in New
York after rising as the dollar fell against the euro, buoying
demand for commodities as an alternative investment, and as OPEC
ministers indicated they would refrain from increasing output.
Egypt's President Hosni Mubarak Appears on TV for First Time Since Surgery Egyptian President Hosni Mubarak
appeared on television today for the first time since undergoing
surgery in Germany this month, ending a public absence that
fueled concern about his health.
Clinton Awaits Israeli Response on Commitment to U.S.-Brokered Peace Talks Secretary of State Hillary Clinton
said the U.S. is seeking assurances from Israel and the
Palestinian Authority of each side’s commitment to U.S.-brokered
indirect peace talks following a flap over Israeli settlements.
Iran Rejects `Carrot, Stick' Strategy Toward Nuclear Work, Larijani Says Iranian parliament Speaker Ali
Larijani said the “carrot and stick” strategy used against
Iran by the “great powers” won’t halt its nuclear development.