The Gulf Countries Lead Acquisitions in the Arab World

The Gulf Countries Lead Acquisitions in the Arab World

Following the Big Surge in oil production witnessed by the GCC countries’ economies, buying operations have increased considerably by the companies working in the Arab Gulf, and specifically the big trade banks. Usually these operations are known as "acquisitions". What draws the attention is that these operations have concluded many of the neighboring regional countries like Pakistan, Afghanistan, Turkey, and Egypt and even they reached Europe and North American. The traditional and Islamic banks: the Saudi, the Kuwaiti, and the Emarati were the main \propeller of these acquisitions, and some of these deals where estimated at $2 bn in some cases. Moreover shares of acquisitions ranged between 60%-80% of the shares of the sold companies. Thus, the GCC countries are leading and financing the acquisitions operations in the Arab homeland.

Four Billions, the Net Profits of al Emarat-Dubai Group

Al-Emarat Dubai Bank has achieved net profits estimated at four billion dirhams last year with an increase of 50% compared to results of 2006. and the total revenues of Dubai National Bank have risen by 53% compared to 2006.

Al-Diyra Company Owns 31% of Univest Brokeradge for Financial Mediation

The Holding al Diyra Company has announced that Univest Brokeradge Company for Financial Mediation, one of the investments of al-Diyra Financial Group Company, has started its activities in Dubai in a step for improving its investment and consultations services.

The Egyptian Tourism and Aviation Sectors are Affected Negatively because of the American Economic Prices

Oxford Business Group has expected the American Economic crisis to have negative impacts on the Egyptian economy, mainly in tourism and aviation sectors\. Oliver Kornek, the General Editor of the report entitled: "Egypt-2008" said that other sectors like banks, industries, and financial markets are able to face the international negative effects resulted in the slowness of international growth rates.

Small Indexes

– The indicator of Emirates financial market has risen by 0.46% closing by 5960.52 points.
– The net profits of Al-Arabiya Airlines Company have risen in 2007 by 272% reaching 376 dirhams compared to about 101 million dirhams in 2006.

Companies Indexes

– The holding Abraj al Mutaheda Company and al Ahmadiya Contracting Company has signed a contract for building the project of Burj al Mutaheda "Al Mutaheda Tower" with a total value estimated at 70 million dinars.
– The shares of Orascom Telecom for Mobile Phones Telecommunications have risen by 4.4% which backed the indicator of the Egyptian shares to rise following five session of losses.

Conferences & Exhibitions

– The Bahraini Ministry of Information, represented by tourism sector, will took part at the meeting and exhibition of the Gulf tourism and investment-2008 to be held at Hilton Jeddeh Hotel in Saudi Arabia between 15-19 of this month under the auspices of Prince Khalid al Faisal Bin Abdul Aziz al Sud Prince of Mecca.