Dh4.9b defence deals signed at IDEX2013
Source: Khaleej Times (Read full story)
Nineteen defense contracts worth AED 4.9 billion were signed by the UAE Armed Forces with international and national contractors, Major General Obaid Al Ketbi, Chairman of the organizing committee for the International Defense Exhibition and Conference (IDEX2013) announced on Tuesday at the show’s daily press briefing. The largest of the contracts announced today is worth AED1.9 billion and sealed with the Advanced Military Maintenance Repair and Overhaul Centre (AMMROC) which will provide aircraft management, maintenance and repair services to the Armed Forces, according to Al-Ketbi.
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ahlibank plans Oman’s first Mena Islamic fund
Source: Times of Oman (Read full story)
ahlibank is planning to launch the Sultanate’s first Islamic fund for the Middle East and North Africa (Mena) region. The bank is waiting for regulatory approvals from both Central Bank of Oman and Capital Market Authority. “We are planning to raise the fund from Oman and other Gulf Cooperation Council (GCC) countries, using the facilities of our group institutions,” Abdulaziz al Balushi, chief executive officer of ahlibank, told Times of Oman. The corpus money raised by the fund will be invested predominantly in Oman, and a portion in the Gulf region.
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Bahrain to review its First National Report on Application of Provisions of Arab Charter on Human Rights
Source: Bahrain News Agency (Read full story)
For the second consecutive day, Kingdom of Bahrain continued to review its first national report on the application of the provisions of Arab Charter on Human Rights before the Arab Human Rights Committee this morning at the headquarters of the League of Arab States. Minister of Human Rights Affairs, Dr. Salah Bin Ali Abdul Rahman, the Head of Bahrain delegation stressed that Bahrain’s participation in reviewing and discussing its report before Arab Human Rights Committee emanated from its ultimate belief in supporting the Arab human rights projects. He also stressed the transparency of the country in presenting its aspirations and achievements, as well as the challenges ahead.
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Thirty Saudi women sworn in
Source: Khaleej Times (Read full story)
Thirty Saudi women took seats in Saudi Arabia’s Shura Council, for the first time in the kingdom’s history, as they were sworn in before the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz, on Tuesday at his palace in Riyadh. The women took their seats in the same room with their 130 male colleagues and were sworn in collectively, state television said.
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MPs file double grilling amid looming tension – Top officer denies oppn ex-MPs instigated violence
Source: Kuwait Times (Read full story)
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Former opposition MPs have alleged the grillings are part of an orchestrated plot to dissolve the National Assembly ahead of a scheduled ruling by the constitutional court over the amendment of the electoral law. Shiite MP Khalil Abdullah bluntly said most of the grillings are not aimed at reforms but a reflection of ongoing struggles between influential people whom he did not name.
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UPDATE 2-Qatar to list $12 bln firm with assets from wealth fund
Source: Reuters (Read full story)
Qatar will create a new $12 billion investment firm, backed by blue-chip assets from its sovereign wealth fund, and list it on the local stock exchange, its main institutional backer said on Tuesday. Qatar Holding – the investment arm of the Qatari sovereign fund – said the new firm will invest in assets around the world.
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Qatar Holding, believed to have assets in excess of $100 billion, has been the most active of the region’s sovereign wealth funds in recent years, deploying the Gulf nation’s riches from plentiful natural gas to buy stakes in companies ranging from German sports car maker Porsche to British bank Barclays and Swiss lender Credit Suisse.
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