Citibank Bank Lost Half its Value in Four Days Due to Financial Crisis

Citigroup Tries to Stop the Drop in Its Share Price
New York Times - United States
For months, the nation's largest banks have struggled to regain investors' trust. In the center of the vortex is Citigroup, whose precipitous stock-market plunge accelerated on Thursday, sending shock waves through the financial world. ...

Prince Alwaleed Buys 5% of Citigroup to Restore his Stake to 5 Per Cent

Prince Alwaleed Buys Citigroup Shares
Zawya
Prince Alwaleed bin Talal of Saudi Arabia on Thursday announced that he was buying Citigroup shares to restore his stake to 5 per cent as he gave his full support to Vikram Pandit, the US bank's embattled chief executive. ...

Bollywood Star Lend his Name to a UAE Real Estate Project

Fardeen lends name to UAE real estate
Hindu Business Line - Chennai, India
DUBAI: Fardeen Khan has become the latest Bollywood star after Shah Rukh Khan to lend his name to a real estate project in the UAE. The actor at a ceremony in neighbouring emirate of Ajman to introduce the exclusive unveiling of the Crescent Star project , a 33-storey apartment hotel, said "I am delighted to be involved in such an exciting project." ...

Genesis Custom Jetliners Opens a Primary Sales Office in Dubai

Genesis Custom Jetliners Adds Dubai Sales Office
PR.com (press release) - Levittown, NY, USA
Genesis Custom Jetliners, the leading value option in the commercial aircraft conversion and luxury business jet markets, has opened a primary sales office in Dubai, headed by Bilal Yousuf. The announcement was made during the Middle East Business Aviation exhibition. ...

Development of One of the World’s Biggest Port Projects

CSIR helps develop Mid East harbour project
Creamer Media's Engineering News - Garden View, South Africa
South Africa's Council for Scientific and Industrial Research (CSIR) is playing a key role in the development of one of the world's biggest port projects.

The CSIR is currently executing a R10-million contract to conduct physical model studies for the planned new multibillion-dollar Khalifa port, which will be located in the United Arab Emirates, between Abu Dhabi and Dubai. ...

Dubai's Astronomical $20 Million Party

Dubai parties despite economic gloom
PR-Inside.com (Pressemitteilung) - Wien, Austria
While the rest of the world is tightening its belt, Dubai is throwing a $20 million party Thursday complete with Hollywood celebrities like Robert DeNiro and a fireworks show that organizers said would be visible from outer space. ...

Investors Rush Under Pressure as Dubai Distressed Property Sales Rise

Dubai distressed property sales rise as crisis bites
Reuters - USA
Distressed sales of Dubai property are increasing as investors rush to offload homes under pressure from the global credit crisis, real estate agents say.

Stunning Kylie Minogue Rocking at Atlantis Grand Opening

Kylie Minogue Preps for Dubai Gigs
The Gossip Girls - USA
With such international appeal, it's no wonder Kylie Minogue is one of the featured performers at the grand opening of the new Atlantis hotel in Dubai.

Dubai's Party that Lit up the Evening Sky

Dubai parties at hotel gala despite economic gloom
The Associated Press
DUBAI, United Arab Emirates (AP) — Dubai developers threw a $20 million party Thursday complete with Hollywood celebrities Robert DeNiro and Charlize Theron and fireworks that lit up the evening sky. ...

Amlak Cease New Financing Due to Liquidity Crunch

Amlak move 'due to liquidity crunch'
GulfNews - Dubai, United Arab Emirates
Dubai: Amlak Finance PJSC, the UAE's largest mortgage lender's decision to cease new financing is due to the liquidity crunch and not because of a property market downslide, according to industry experts. ...

Emaar Seeks Indian Partners

Emaar seeks partner for retail venture in India
AME Info - United Arab Emirates
Emaar MGF Land, the Indian unit of the Middle East's largest real-estate developer, is seeking an overseas partner to start a retail venture in India. ...

Al-Jabal Holdings Introduces a Unique Investment Opportunity

Al Jabal holdings introduces the first of a kind
Al-Bawaba - Amman, Jordan
Al Jabal Holdings last night launched a uniquely exciting development at the Madinat Jumeirah. The exclusive unveiling of the Crescent Star project, which attracted over 1300 potential investors, real estate experts and prominent personalities, was introduced by Bollywood star Fardeen Khan. ...

More Job Cuts Hitting UAE Real Estate Market

Omniyat adds fuel to retrenchment fire
GulfNews - Dubai, United Arab Emirates
Dubai: Developer Omniyat has joined the growing number of companies scaling down their human resources, with the retrenchment of nearly 100 employees over cash flow problems. ...

Abu Dhabi Reveals Ambitious Strategy of Medical Tourism

Abu Dhabi Unveils Medical Tourism Plan
Zawya

Abu Dhabi: Shaikh Sultan Bin Tahnoun Al Nahyan, Chairman of the Abu Dhabi Tourism Authority has revealed an ambitious strategy of medical tourism in Abu Dhabi. ...

Contracts Worth SR579 Million for Operating and Developing 3 Saudi International Airports

Saudi Prince Signs Airport Deals Worth SR579M
Zawya
RIYADH: Crown Prince Sultan, deputy prime minister and minister of defense and aviation, signed here yesterday three contracts valued at SR579 million with two major companies to operate and develop the Kingdom's three international airports. ...

Dubai is Prepared to Help State-controlled Firms Pay off Debts

UPDATE 2-Dubai ready to help firms
Life Style Extra - UK
DUBAI, Nov 19 (Reuters) - Dubai is prepared to help state-controlled firms pay off debts, although it is not in talks with the federal government to set up a loan facility for its companies, a government official said on Wednesday. ...

Thursday-night Bash at Atlantis Costing $20 Million

Dubai to Host Lavish Bash
Wall Street Journal - USA
Amid world-wide economic upheaval, South African casino mogul Solomon Kerzner is throwing this Mideast boomtown's most lavish party to date, marking the grand opening of a $1.5 billion hotel on Dubai's man-made, palm-shaped island. ...

Bahrain Real Estate Least Effected by Global Crisis

Bahrain 'can dodge real estate market slowdown'
Gulf Daily News - Manama, Bahrain
The Middle East real estate market will dodge the dramatic slowdown in house prices seen in the West and Bahrain will avoid the correction more than any other country in the Gulf. That is the view of Sakana Holistics Solutions chief executive officer R Lakshmanan. ...

Milipol Qatar: Three Contracts Worth QR53mn were Signed by Lekhwiya

Local firms make their presence felt at Milipol Qatar
Gulf Times - Doha, Qatar
worth a total of QR325mn were signed over three days of Milipol Qatar, the premier internal security exhibition, which ended yesterday at the Doha Exhibition Centre.
Three contracts worth QR53mn were signed yesterday by Lekhwiya, the Internal Security Force, said chairman of Milipol-Qatar, Brig Sheikh Nasser bin Fahd al-Thani. ...