Egypt bourse extends gains

The brokers in Egypt reported that foreign investors continued to buy into the Egyptian market on Sunday, helping its main indexes rise for the third straight session.

The benchmark CASE 30 index .CASE30 gained 0.89 percent to a closing of 8,449.56 points, while the Hermes index .HRMS was 1.09 percent higher at 738.94 points.

The growth of Islamic banks

The growth of Islamic banks and financial instruments prompts issues as to the challenges of business and profitability.

Financial Review spoke to Mohammad Berro, Al Hilal Bank’s Chief Executive Officer, and Hussain Al Qamzi, Group CEO of Noor Islamic Bank, for their insight, representing recent entrants to this vibrant sector.

Arab Sport

Most athletes who took part in the Olympic Games would have been resting, following the conclusion of their event, but the GCC’s swimmers went straight from Beijing to Abu Dhabi for the 19th GCC Swimming Championships.

One of those, Obaid Al Jesmi, who clocked a personal best time (53.29 seconds down from 53.7s) in the 100-metre freestyle in his heat in Beijing, entered a number of events at the Jazeera Pool.

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Dubai’s Dream Team

With the sun beating down and temperatures touching the mid-90s, the heat is on for the trailing Class 1 World Powerboat Championship fleet as the Dubai Victory Team home in on an eighth world title on the banks of the Black Sea.

The two-boat Dubai squad, currently lying first and second in the world championship, will move a step closer to the sport’s premier prize with a win in tomorrow’s Romanian Grand Prix.

Can You Sail to Bali??

By Jum Ali Khan

It was just an idea. An idea that wouldn’t go away. It started when my friend Claude de Crissey mentioned in passing that one of his boats, MV Mermaid 1, would be going back to Bali at the end of May after her annual refit at the boatyards in Phuket.

During the months of June to October, Mermaid 1 and her sister boat Mermaid 2 operate out of Bali as Liveaboard Dive boats taking diving enthusiasts to the Komodo Islands a few hundred kilometres east of Bali on week-long trips.

Noor unfazed by Abu Dhabi rival

Dubai’s Noor Islamic Bank is not worried by the imminent launch of larger Abu Dhabi rival Al Hilal Islamic Bank, its chief executive Hussain Al Qemzi has told magazine Arabian Banking and Finance.

Noor officially launched on Sunday, saying it would focus on offering consumer and corporate banking services in the UAE and expand in Europe and Asia.

Abu Dhabi to launch Al Hilal Bank

What is Association of Friendship Indonesian-Cuba (AAIC)

In solemn act, celebrated in the faculty of medicine of the University of Jakarta, it was created the Association of Friendship Indonesian-Cuba (AAIC), May 15, 2008.

The Professor Samsuridjal Djauzi, President of the AAIC, has delivered the words of opening of the act, in which he offered an extensive view of the objectives of the Association of Friendship and he explained that is open for all those who were interested in being member of the Association and to contribute to the strengthening of the friendly and brotherhood relationship which exist among the Indonesian and Cuban peoples. Besides, it referred to its several visits to Cuba and explained briefly its experiences, as well as he did a brief characterization of the development of the health system in Cuba.

What is BKPM??

BKPM is a government institution that acts as an Investment Facilitator for company needs.

Further Information about BKPM : sysadm[at]bkpm.go.id

RAK to set Indonesia as a key hub to scout for potential growth zones in Asia

RMMI recently signed an MoU with the Government of South Sumatra Province, Indonesia for ‘the cooperation for Tanjung Api-Api Port, Industrial City, Industrial Parks with other supporting facilities in the Banyuasin Regency, South Sumatra Province’. The MoU, among others envisages building industrial park for metals refining, smelting and metal based fabrication industries, bio technology parks, Palm, rubber and other agro-based industries, captive power plants and supporting infrastructure.

RMMI’s investment in Indonesia – a commitment of US$1.5 billion – is a key step in the company’s strategy to scout for potential growth zones in Asia. The support from the government of Indonesia has been invaluable towards the development of the resource-rich Sumatra. Another subsidiary of Rakia, RAK Ceramics sources clay from Indonesia for all its projects in the UAE, India and Bangladesh.

Sharia Bank Assets Set To Grow Rapidly in North Sumatra

Sharia Bank Assets grows rapidly in North Sumatra province of Indonesia, reaches 2,23 Trillion rupiah on April 2008 said Head of Indonesian central bank in Medan, as reported by Waspada daily.

See also:
How to invest in fast grow market of North Sumatera, Indonesia

Indonesia To Invest 2.2 Billion USD Worldwide Every Year

Indonesian state-owned enterprises have invested some 2.2 billion US dollars abroad each year, the Indonesian Agency for Outbound Investment Development (InaGoInvest) said in Jakarta on Thursday.

InaGoInvest Director Guspiabri Sumowiguno said that the amount is based on a Bank Indonesia estimate that the capital outflow from Indonesia in the first quarter of 2008 reached 3.7 billion US dollars.

Dutch To Help US Threatening Persian Gulf

The Dutch AIVD secret service has had an ultra-secret operation underway in Iran in recent years that was halted in connection with plans for a US attack on Iran.

The respected newspaper De Telegraaf reported Friday the “ultra-secret operation” had as its aim infiltration and sabotage of the weapons industry in the Islamic Republic.

Azerbaijan Set Iran As A Key Hub For Its Energy Supplies into Europe

Azerbaijan has delivered its first oil cargo for transit through Iran after exports were disrupted by the recent Georgian conflict.

The Republic of Azerbaijan will export between 5 and 10 thousand barrels of crude oil via Iran daily, according to an Iranian oil ministry official.

See Also:

Iran, Turkmenistan To Help Europe in Energy Security
Economic Crisis Hit Europe
Qatar To Aid Europe and US from Econoic Crisis

A1 Grand Prix World Cup of Motorsport: Indonesia on 09 November 2008

A1 Grand Prix World Cup of Motorsport, will be held at the Jakarta, Indonesia on 09 November 2008.

Tunisia Aspiring to Become an Economic Hub: Europe, Mediterrania, Arab and Africa

Tunisia has engaged recently in dynamics that aim at the realization of great projects. The purpose is to stimulate the economic activity and increase the attractiveness of the country.

Tunisia is willing to offer investors an ideal climate that is favourable for businesses making it possible to create more jobs in the different sectors. Great projects and achievements are expected to bestow upon the position of Tunisia an international dimension and constitute a major asset for future generations.