US $32.7 Million Contract Awarded to DEPA

Depa wins Palazzo Versace contract
Hotelier Middle East - Dubai, Dubai, United Arab Emirates
Interior contracting company Depa has won a US $32.7 million contract for the fit-out of hotel rooms and furnished apartments at Palazzo Versace Hotel, Dubai.

Due for completion on April 30, 2010, the luxury $395 million Palazzo Versace Resort will be located in Culture Village, a US$ 13.6 billion leisure and tourist project being developed by Dubai Properties. ...

Positive Outcome Expected from Dubai International Boat Show

Boat show organisers expect good sales
GulfNews - Dubai, United Arab Emirates
.... The initial response this year has been very positive, which is very encouraging considering the current economic climate. We expect major sales and news to be announced throughout the five-day event," said Helal Saeed Al Merri, chief executive of Dubai World Trade Centre, organiser of DIBS. ...

India's Government Offers Rs 300 Crore Lifeline to Emaar MGF

Govt offers Rs 300 cr lifeline to Emaar
NDTV.com - New Delhi, India
The 2010 commonwealth games may be more than a year away, but time is running out for the government, especially when it comes to the marquee Games village for the athletes.

In a bid to stem delays, the government offers a Rs 300 crore lifeline to the private developer Emaar MGF that has run out of cash for the project. ...

Emaar Misr Launched Egypt's Mivida Development - Sale to Follow

Emaar finds future in Egypt with AED 20.7 billion investment
Construction Week Online - Dubai, United Arab Emirates
... Moving away from the vernacular architecture of Cairo and driven by the overpopulation of the city, the Emaar Misr has launched the sprawling, Mediterranean-flavoured mixed-use development Mivida. ...

Petrofac International Awarded EPC Contract by Saudi Aramco

Petrofac Awarded Karan Contract By Saudi Aramco
Zawya

Petrofac, the international oil & gas facilities service provider, has been awarded an engineering procurement and construction (EPC) contract for Saudi Aramco's Karan utilities and cogeneration package. ...

Namkwang Wins $370 Million from UAE

S.Korea's Namkwang, SK E&C win $370 mln UAE order
Reuters - USA
SEOUL, March 3 (Reuters) - South Korea's Namkwang Construction (001260.KS) said on Tuesday it had won a $370 million order from the United Arab Emirates with SK E&C Co Ltd. ...

Abu Dhabi Government Approves Rail and Road Plans

Transport plans for rail and road get green light
The National - Abu Dhabi, United Arab Emirates
... A preliminary map released by the Government last year shows an integrated transit network featuring the metro with stations on Abu Dhabi island, connecting to the Musaffah industrial zone, the planned Capital City and Masdar, Abu Dhabi International Airport and Saadiyat and Yas Islands. ...

EPiC Energy Awarded $22.5 Million Contract in UAE

EPiC Energy Awarded $22.5 Million Middle East Contract to Support Build-Out of Sour Gas Processing Facility
PR Newswire - USA
HOUSTON, March 3 /PRNewswire-FirstCall/ -- EPiC Energy Resources, Inc. (OTC Bulletin Board: EPCC) a provider of engineering, management consulting, training and data management services to the energy industry, announced today that Pearl Development Company (Pearl), a wholly owned subsidiary of EPiC, has received a multi-million dollar contract from an existing client in the United Arab Emirates (UAE). ...

Qatar's Real Estate Barwa Announced QR 300 Million Net Profit

Barwa Real Estate announces its 2008 year end results
AME Info - United Arab Emirates
Barwa's financial statements for 2008 reflect the current economic turmoil and financial crisis. Barwa recorded QR300m in net profits, i.e. QR1.46 per share given the increase in the capital of the company.
The results underline the diversification of earnings as various business activities, which the company launched over the last years, contributed to these profits. Appraisal of investment properties showed QR109 loss. ...

Riad Salameh Inauguration of "Lebanon Capital Market Day"

NYSE Euronext Celebrates "Lebanon Capital Market Day"
Naharnet Beirut, Lebanon
A business delegation from Lebanon gathered at the NYSE to celebrate "Lebanon Capital Market Day." Governor Riad Salameh of Banque du Liban had the honor of ringing The Opening Bell.
At a luncheon address, Salameh said: "Lebanon shall remain far removed from the world financial crisis and its ramifications."

UPDATE 1-Lebanon sees bank deposits up at least 7 pct in '09
Reuters - USA
NEW YORK, March 2 (Reuters) - Lebanon's bank deposit base should grow by at least 7 percent this year despite a possible decline in remittances, central bank governor Riad Salameh forecast on Monday. ...