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Sun May 9 22:20:37 EDT 2010
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General Holding Corporation announces 61% increase in profits in 2009 - General Holding Corporation PJSC (GHC) Board of Directors, chaired by H.H. Sheikh Hamed bin Zayed Al Nahyan, announced that its net profit increased by 61% to Dhs1.13bn in 2009 from Dhs703m in 2008, and achieved more than 16% return to its shareholders. Total assets increased by 16% to Dhs18.4bn in 2009. GHC, the Abu Dhabi Government's industrial investment arm, is one of the UAE's largest industrial conglomerates and a major contributor to the Emirate's economic diversification initiatives.


Tasi climbs 2.41% - Saudi Arabia's Tadawul All Share Index (Tasi) moved up 2.41% to 6,674, led by the Media & Publishing sector, which rose 3.52%. Of 138 stocks traded, just one ended lower, while 134 closed higher. Saudi Kayyan Petrochemical Company, the day's most actively traded stock by value and by volume, gained 3.48% to SR20.80. Fellow market heavyweight Saudi Basic Industries Corporation (Sabic) gained 2.00% to SR102.00.

ADX slides 1.41% - The Abu Dhabi Securities Index fell 1.41% to 2,752 today, led by the Construction sector, which dropped 3.98%. Market heavyweight Dana Gas slipped 2.50% to Dhs0.80, while fellow market leader Aldar Properties fell 3.93% to Dhs3.73.

BinHendi Enterprises opens first outlet of Billionaire Italian Couture in Dubai Mall - The gap in Dubai's retail scene for high-end fashion exclusively for men has now been filled with the opening of the first Billionaire Italian Couture boutique in Dubai Mall. Flavio Briatore, founder of the brand, and Mohi-din BinHendi, president of BinHendi Enterprises, who is responsible for bringing the popular Italian brand to the UAE, inaugurated the boutique at the in-store launch event held on May 6th 2010.

Kuwait Finance House test launches enhanced KFH iPhone/iPad application - The Marketing and Public Relations Manager at Kuwait Finance House (KFH) Fahad Al-Mukhaizeem announced that KFH has started to implement the enhanced KFH application for iPhone to a limited customers group as a pilot, where the service will be launched for all users soon.

IIR Middle East to hold Engineering Management Congress in June - IIR Middle East announced that the Engineering Management Congress will take place from 30th May - 3rd June 2010 at the Dusit Thani, Dubai. It will bring together leading project managers from across the region to share best practice strategies, tips and tools to better manage large scale projects, discuss key value engineering concepts and address the ever important issues of risk and quality control.


Astra Industrial Group selects SAP to support clear path to value - Astra Industrial Group (AIG), one of the leading industrial conglomerates in the Kingdom, has selected SAP to help support its vision of becoming the premier industrial investments company in the Middle East & North Africa (MENA) region. AIG aims to achieve this by delivering long-term stakeholder value through sustainable, profitable growth.

Ecco International provides first insight into social media in 24 countries - Ecco International, the global network of independent PR agencies, has compiled an extensive overview of the social media market and trends in 24 countries, including the major European economies, the USA, as well as India and the UAE.

Ministry of Finance to host public debt management conference - Under the patronage of HH Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, and in line with its strategy to augment and develop UAE fiscal policy, The Ministry of Finance (MOF) will host a conference on Best International Practices in Public Debt Management on May 10, 2010 at the Emirates Palace, Abu Dhabi. The opening speech will be given by HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs.

Intel welcomes new Extreme Edition processor to Egypt - Intel Corporation announces the arrival of the latest Intel Core i7 Extreme Edition processor to the Egyptian market and announces the latest release of Intel Graphics Performance Analyzers (Intel GPA) that will aid developers in optimizing game performance. In addition, Intel introduced a number of initiatives designed to spur innovation in the PC game developer community, and in support of the company's Visual Adrenaline and Intel Atom Developer programs.

Etisalat slashes international call rates - In a move to offer the best international calling rates to landline customers, Etisalat has slashed the International Direct Dialing (IDD) rates. Effective from May 10th till 9th August 2010, all UAE landline users can call anywhere in the world, anytime.


Al Khaliji participates in global Syndicated Murabaha Facility of 2010 - Al khaliji, the region's 'next generation' bank, participated recently in the $255m (QR928m) dual currency Islamic Structured Murabaha Syndicated Facility for Turkey's largest Islamic bank - Bank Asya - through Al khaliji Group Corporate and Institutional Banking.

DFM falls 1.21% - The Dubai Financial Market dropped 1.21% to 1,712 today, led by the Utilities sector, which fell 4.91%. Market heavyweight Emaar moved down 1.04% to Dhs3.81, while Air Arabia tumbled 3.40% to Dhs0.908. Overall, 21 stocks ended lower while three closed higher.

Brokerage World Solutions formed as global platform for high value insurance solutions - Following their successful merger last year, Dubai-based insurance broker Insure Direct and Rotterdam-based marine insurance specialist Independent Risk Solutions BV (IRS) announced the establishment of an expanded group holding company, Brokerage World Solutions (BWS).

Siemens is Diamond Sponsor of 9th Sabic Technical Meeting - Siemens is a Diamond Sponsor of the 9th Sabic Technical Meeting exhibition and conference in Jubail which was held from April 12 - 14. Siemens displayed its vast portfolio of products and solutions for the petrochemical industry from the divisions of Industrial Automation, Drive Technologies, Building Technologies, Water Technologies, and Oil and Gas. Siemens also presented two technical papers in the conference on topics of Asset Management and Process Automation.