Abu Dhabi Tourism Development Co. Gets AA Rating

PRESS RELEASE: Fitch Rates Abu Dhabi Tourism Devt Co PJSC AA
EasyBourse.com - Paris, France
Fitch Ratings-London/Dubai-02 March 2009: Fitch Ratings has today assigned Abu Dhabi-based Tourism Development & Investment Company PJSC (TDIC) a Long-term Issuer Default Rating (IDR) of 'AA' with a Stable Outlook and a Short-term rating of 'F1+'. ...

Abu Dhabi’s Tourism Development and Investment Company (TDIC) Plans Dhs100 Billion Tourism Projects

Tourism projects seek Dh100bn
The National - Abu Dhabi, United Arab Emirates
Abu Dhabi's Tourism Development and Investment Company (TDIC) plans to tap capital markets this year to help fund a portfolio of projects worth Dh100 billion, an executive from the company said yesterday.

The projects, such as the hotel and museum ventures on Saadiyat Island and Al Bateen Wharf on Abu Dhabi Island, are central to the capital's 2030 plan to triple the population of the emirate and evolve into a leading cultural destination. ...

Nasdaq Dubai Begins Gold Securities Trading

Dubai gold securities listed on Nasdaq Dubai
Mena Report

Dubai Gold Securities (stock ticker: GOLD), an initiative of World Gold Council (WGC) and the Dubai Multi Commodities Centre (DMCC), began trading on NASDAQ Dubai Ltd. today. ...

Launch of $20 Billion Surges Dubai Financial Market up

Dubai's confidence boost
Construction Week Online - Dubai, United Arab Emirates
Towards the close of trading last Monday, the Dubai Financial Market was up almost 8 percent, and previously battered stocks such as Emaar had surged 15 percent.
The launch of a $20 billion bond by the Dubai government had the potential to spook investors already short on confidence. ...

Work Ban Reviewed by UAE Ministry Of Labour

UAE Ministry Of Labour To Review Work Ban
Zawya
Dubai: The Ministry of Labour is reviewing the six-month work ban, enforced when a person cancels work permit, to facilitate labour movements within the country, an official said.
Abdul Razzaq Qambar, training officer at the ministry's inspection department, said during a seminar on wages, aimed at raising awareness on workers' rights, that a review of the six-month ban was on the table. ...

Emaar Shareholder's Funds DHS 36 Billion

Emaar 'to face up to new realities'
GulfNews - Dubai, United Arab Emirates

Dubai: Emaar Properties on Sunday said its total shareholders' funds at the end of 2008 amounted to Dh36 billion, slightly below Dh36.53 billion in 2007.

The transfer of statutory reserve has been suspended as the reserve has reached 50 per cent of the paid up capital, its board of directors said in a financial report posted on the Dubai Financial Market website. ...

Arady UAE Rewards its Investors

Arady passes on savings to investors
Trade Arabia - Manama, Bahrain
Arady, one of the UAE's leading investment companies focused on real estate, plans to  pass on construction savings to its investors.

This step is is the first of its kind in the UAE, said a statement.

Arady's chairman Sheikh Hamdan Bin Mubarak Al Nahyan, said the board considered the steep cost escalation during 2008 as unsustainable and decided to postpone finalising agreements with construction companies. ...

Fahad Sattar Dero CEO: Sweet Homes will Enter Dubai Market

Sweet Homes Well-funded; will Enter Dubai Market: CEO
Khaleej Times - Dubai, United Arab Emirates
DUBAI - Sweet Homes, a property developer with Dh4.7 billion worth of ongoing projects in Ajman, has funds to complete projects on time and plans to enter Dubai property market, said Fahad Sattar Dero, Chief Executive Officer of the company. ...