WAM Dubai, 15th May 2012 (WAM) — The Department of Economic Development (DED) and Dubai FDI, the foreign investment office of DED, have signed a strategic partner agreement with the Australia Gulf Council (AGC) to promote and facilitate trade, investment

A surge in oil prices and region’s crude production boosted the net foreign assets of Gulf hydrocarbon producers by a whopping $456 billion in 2011 to record their biggest asset increase since they began exporting oil. After a steep fall in 2009 because of the 2008 global fiscal distress, the combined net foreign assets of the six-nation Gulf Cooperation Council (GCC) climbed from around $1,149 billion at the end of 2010 to an all time [...]

The United States Ambassador to the UAE, Mr. Michael Corbin, visited the USA Regional Trade Center (USARTC) today for a tour of the facility and to discuss the USARTC’s role in creating business opportunities for US companies.  Ambassador Corbin was accompanied by Mr. Robert Bannerman, Principal Commercial Officer at the U.S. Consulate, Dubai; and Mr. Jude Ahkidenor, Agriculture Attaché. The Ambassador met with the USARTC team and reiterated the US Embassy’s support of the Center’s [...]

The inaugural ‘Made in UAE’ exhibition will help boost trade and also increase industrial sector’s share in the country’s gross domestic product, or GDP, according to top government officials.

DUBAI — Dubai’s sky-high growth ambitions are coming back down to earth as it reassesses economic development plans hatched near the peak of its boom five years ago. Years after the emirate’s property-driven economy hit a wall, Dubai is officially scaling back the double-digit growth goals it set for itself in 2007.   http://www.zawya.com/story/Dubai_rethinks_ambitions-ZW20120505000008/

Dubai ports operator DP World has agreed a 20-year financing deal with an international bank group to fund its London Gateway deep sea port.   http://www.arabianbusiness.com/dp-world-agrees-20-year-financing-deal-for-london-gateway-423914.html

Location makes it perfect hub to supply goods Dubai: Dubai Exports has urged South African companies to use the emirate as a hub to transport goods to GCC countries. Saeed Al Awadi, chief executive of Dubai Exports, said yesterday that South Africa was an important source of business for Dubai due to its role as a regional hub. “The South African Development Community (SADC) represents a strategic growth market within Africa. Together the 15 member [...]

It’s boom time for construction and infrastructure sector in the GCC as the region prepares to award projects worth $286 billion over the next four years, said a new report ahead of a major construction event in Abu Dhabi. The Arabian World Construction Summit 2012, a premier annual event for the region’s construction projects industry, will be held at the Westin Abu Dhabi Golf Resort and Spa from May 20 to 23. According to the [...]

DUBAI // The British Chancellor of the Exchequer George Osborne is currently in the UAE on his first official state visit to the country since becoming chancellor in May 2010. “He is here to discuss the full spectrum of bilateral issues between the UK and UAE and will be having meetings both in Abu Dhabi and Dubai,” confirmed a spokeswoman for the British Embassy last night. The conservative politician released his fist Bugdet last month which [...]

Qatar plans to award three tenders this year for the construction of the country’s new QR27bn ($7.4bn) port, Qatar News Agency said, citing Nabil Mohamed Buainain, executive director of the New Port Project. http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=495393&version=1&template_id=48&parent_id=28