Foreign stake rise works well for IQ stocks
Source: The Peninsula (Read full story)
Increase in foreign ownership limit (FOL) worked well for the price and trade volumes of Industries Qatar’s (IQ) stocks. After raising its foreign ownership cap to 12.25 percent from 7.5 percent in October 2012, IQ’s stock price fell immediately, but picked up later. The stock price picked up and gathered almost 17 percent before the announcement of the full year 2012 results. Average daily share trade volume of the 90 days before the announcement were 115.175 while for the same number of days after the announcement were 228.125, an increase of almost cent percent.
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More prominent figures register in polls – Candidates call for participation * Convicted Fadhl flees
Source: Kuwait Times (Read full story)
More prominent figures registered for the polls yesterday including some members who were with the opposition and boycotted last December’s elections, as most candidates urged voters to head to the ballots on July 27. Former MPs Adnan Abdusamad, Mohammad Al-Abduljader, Ahmad Al-Mulaifi, Jaber Al-Muhailbi and Duaij Al-Shemmari, a former member of the Islamic Constitutional Movement (ICM), registered to run in the polls and urged the opposition to join. Others included former members of the opposition Ahmad Al-Azemi, who was a member of the scrapped Feb 2012 assembly, Tarqi Al-Mutairi and Mohammad Al-Enezi, who joined the opposition in boycotting the Dec 2012 election.
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Saudi Arabia Starts Survey of Renewable Energy Potential
Source: Bloomberg (Read full story)
Saudi Arabia started a program to assess its potential for generating renewable energy, part of an effort to lure $109 billion for building a solar industry that will free up more of its crude oil for export. King Abdullah City for Atomic and Renewable Energy, the organization responsible of devising the kingdom’s strategy, will install at least 70 stations nationwide to measure the ability to produce electricity from the sun, wind, geothermal and waste sources, according to a statement issued yesterday and carried by official Saudi Press Agency. The agency known as Ka-Care said 10 stations already have been installed.
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King hails GCC unity
Source: Gulf Daily News (Read full story)
His Majesty King Hamad yesterday praised the Peninsula Shield Force for protecting vital institutions in Bahrain. This, he said, illustrated the unity and cohesion bonding GCC nations. He made these remarks as he patronised the graduation of the Fifth Joint Command and Staff Session. He was received on arrival at the Royal Command and Staff College (RCSC) by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier, BDF Commander-in-Chief Field Marshal Shaikh Khalifa bin Ahmed Al Khalifa and the Minister of State for Defence Lieutenant-General Dr Shaikh Mohammed bin Abdullah Al Khalifa.
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UAE jails scores of people in coup trial
Source: Al Jazeera (Read full story)
A United Arab Emirates court has convicted and jailed most of the 94 Emiratis accused of plotting a coup, Abu Dhabi television said. The television report said the Federal Supreme Court handed down the sentences on Tuesday. Fifty-six suspects were given jail terms ranging between three and 10 years. Eight suspects were sentenced in absentia to 15 years in jail and another 26 were acquitted. Among those sentenced were academics, lawyers and members of prominent UAE families. Sheikh Sultan bin Kayed Al-Qassimi, a member of the ruling family of the emirate of Ras al-Khaimah, and prominent human rights lawyer Mohammed al-Roken, were among the 56, Abu Dhabi television said.
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Bahrain-UAE Airways Capacity Increases by 40%
Source: Bahrain News Agency (Read full story)
His Excellency Mr. Kamal bin Ahmed Mohammed, Minister of Transportation praised the joint cooperation between the Kingdom of Bahrain and the United Arab Emirates in the field of aviation following the establishment of additional airways that will serve air traffic between Bahrain and the United Arab Emirates’ Flight Information Regions and which has resulted in a capacity increase of more than 40%. The airways between the two countries will serve in fulfilling the International Civil Aviation Organization’s (ICAO) latest requirement to create non-traditional airways. These unconventional airways, which have particular specifications that depend on the latest air navigation technologies and use of satellites ,are being implemented at this scale and capacity for the first time in the Middle East.
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