Richard Melson

July 2006

MENA Business

MENAFN Newsletter

MENAFN Newsletter


MENAFN Newsletter - Issue 233

Dubai Financial Buys 40% Stake in Malaysian Bank

Arab News - Dubai Financial (DF), a subsidiary of the Dubai Investment Group (DIG) - the global financial investor of Dubai Holding - has taken a 40 percent stake in Malaysia's oldest Shariah compliant bank.

Telecom & Communication Finance & Banking

India's Essar to establish $1.5 billion Mideast steel plants, MENAFN

STC selects Ericsson as supplier for its HSPA network, Khaleej Times

France Telecom to buy 41.5% stake in Jordan Telecom, MENAFN


Microsoft launches Beta-2, Bahrain Tribune

LG's Kim targets $6b turnover in Middle East, Africa by 2010, Times of Oman

Toshiba gets license for NAND technology, UPI

Dubai has emerged as hub for electronics industry in the GCC, Khaleej Times

UAE firm, Syria sign MoU to set up $2.7 billion Internet city, MENAFN

Siemens paying $5.3B for Bayer diagnostics, UPI

Dubai has emerged as hub for electronics industry in the GCC, Khaleej Times

Real Estate

Dh260m Lavender Towers is launched, Khaleej Times

UAE's Reef Real Estate launches $20 million project in Lebanon, MENAFN


SR600m Joint Venture Set Up in Saudi Arabia, Arab News

Trade Surplus of Oil Exporters Jumps to $450 Billion in 2005, Arab News

UAE's stock markets loses $152.1 billion in H1, MENAFN

SR5b holding firm for Saudi economic city, Bahrain Tribune

Boom helps GCC lure $800b Arab deposit overseas, Khaleej Times

Dubai's Lootah to invest $108.9 million in upgrading, MENAFN

'UAE, Middle East Should Follow US in Generating Sales', Arab News

Assets at Putnam slip $2.3 billion, extending decline, MW

U.S. consumer sentiment up in June, UPI

Jordan, Syria sign eight cooperation agreements, Jordan Times

EMC paying $2.1 billion for RSA Security, UPI

Iraq Reconstruction

South African software company eyes Iraqi market, MENAFN

ConocoPhillips hopes to acquire refining assets in Iraq, MENAFN


Bugs and mice force candy factory closing, UPI

Yusef Jackson revives 'Radar' magazine, UPI

Falling out of love with iPod?, UPI

60.7% support increased political participation of women — poll - Jordan, Jordan Times

Nickelodeon plans $30 million Olympic film, UPI

Oil minister: Iraq has good relations with Russia, MENAFN

Central Bank raises interest rates by 25 basis points, Jordan Times

Mutual funds swoon in 2Q, AFX

Direct Shipping Group to launch IPO, list on DFM, Khaleej Times

Fed ups key interest rate to 5.25 percent, UPI

Shutterfly files $92 mln IPO, MW

Government to sell Jordan Telecom stake, Jordan Times

Dubai Financial Buys 40% Stake in Malaysian Bank, Arab News

Deutsche Bank mulling more takeovers, AFP

Japanese Firm Acquires 51% Stake in GHI - KSA, Arab News

Investcorp completes $200m OHL financing, Bahrain Tribune

Arcelor shareholders clear the way for Mittal merger, dpa

Dubai Bank embarks on expansion plan, Khaleej Times

Arcapita doubles capital - Bahrain, Bahrain Tribune

Islamic Finance

Aabar lists $460m sukuk on DIFX, Khaleej Times

Solidarity raises capital to $275m, Bahrain Tribune

SABIC Set to Float SR1 Billion Sukuk, Arab News

BSE, Investment Dar Sukuk sign $100 million deal - Bahrain, MENAFN

Bahrain to host first Islamic bank for women, Bahrain Tribune

Oil and Energy

Saudi Aramco Prepares to Introduce a New Grade of Gasoline, Saudi Press Agency

$3.5 Billion Oil Pipeline to Be Inaugurated July 13, Arab News

Oman signs oil, gas exploration agreements for USD 346 million, KUNA

Oman signs 7 EPSAs pacts worth $340 million, MENAFN

Report: GCC, Libya oil revenues grow to $400 billion last year, MENAFN

Total crude oil exports in Arab states reached USD 327 billion - OAPEC, KUNA

Travel & Hospitality

Dubai plans to spend $20 billion on transport system - UAE, MENAFN

Tourism witnesses 5% growth since January - Jordan, Jordan Times

Famco wins warehousing contract at Dubai airport, Khaleej Times

Report: Increasing number of tourists arrives to Saudi Arabia, MENAFN

DaimlerChrysler reaches Mitsubishi compensation deal, dpa

Surveillance plane woes could raise Boeing charge to $1.1 billion, KRN

Advertise Here

Commodities & Oil Market

Item Quote


Jun 25 Jul 2

Gold 581.75 612.65 5.31%

Silver 10.2525 11.0125 7.41%

Brent DTD 70.3 73.69 4.82%

As of Sun, 2 Jul. 2006 16:00 GMT more

Global Currencies Against USD

Currency Price


Jun 25 Jul 2

GBP 1.8181 1.849 1.70%

EUR 1.2518 1.2776 2.06%

JPY 116.52 114.43 -1.79%

CHF 1.2482 1.2231 -2.01%

As of Sun, 2 Jul. 2006 16:00 GMT more

Market Information


DJIA 11150.22

NASDAQ 2172.09

S&P500 1270.2

FTSE 100 5833.4

NIKKEI 225 15505.18

As of Sun, 2 Jul. 2006 16:00 GMT

Economic Indicators

Country Indicator Quote


Cons Act/Prior

US - New Home Sales 1150K 1189K Jun 26

US - Consumer Confidence 103.0 103.2 Jun 27

US - Chicago PMI 59.0 61.5 Jun 30

US - Personal Income 0.2% 0.7% Jun 30


3 Month LIBOR

USD 15505.18

GBP 4.75375

EUR 3.05763


1M 3M 6M 1Y


Weekly Stock Market Report (July 01) by CCFI

The Lebanon Brief (June 26-July 01) by BLOMinvest Bank

Al-Rajhi Weekly Research (July 01) by Alrajhi Bank

GIS Weekly Tracker (June 29) by GIS

ASE Market Brief (June 29) by Atlas PSE Market Brief (June 29) by Atlas

Naeem Weekly Report (June 25 - 29) by Naeem

ASE Weekly Monitor (June 25 - 29) by Aman

Global Weekly Market Report (June 28) by GIH

Visit our Research Center

Best Selling Book Titles: TOP Movies WEATHER FORECAST

TWELVE SHARP, by Janet Evanovich Click

GODLESS, by Ann Coulter Cars

CESAR'S WAY, by Cesar Millan with Melissa Jo Peltier Nacho Libre

THE DEVIL WEARS PRADA, by Lauren Weisberger The Fast & The Furious: Tokyo Drift


Financial Markets (Weekly Performance)

Region Best Performers

Worst Performers

Name % Chg Name % Chg

Middle East MASI Index 4.10% Amman Index -5.94%

North / Latin America Mexico Index(USD) 6.93% Dow Jones Industrial Average 1.47%

Europe CAC40 3.08% IBEX 35 2.32%

Asian/Pacific Kospi 5.42% Jakarta Composite 1.56%


Channel Partners Serving U.S. SMBs Expect Sales of US$154B Next Year; Robust 17% Growth Driven by Service Providers and Systems Integrators, Says AMI-Partners

Channel Partners Serving U.S. SMBs Expect Sales of US$154B Next Year;

Channel partners serving U.S. SMBs (1-999 employees) expect to see overall sales reach US$154 billion over the next 12 months, up a robust 17% since last year

Read Article


Service providers (xSPs) anticipate the highest revenue growth at 19%, followed by the systems/network integrators at 18%

Robust 17% Growth Driven by Service Providers and Systems Integrators, Says AMI-Partners

Source: IDC

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MENAFN Newsletter - Issue 233

MENAFN Newsletter

Sunday, July 2, 2006