Al Khaleej

U.A.E. Central Bank Said to Agree to Raise Mortgage-Loan Limits

The United Arab Emirates central bank agreed to raise the cap on mortgage loans from an originally proposed 50 percent of a property’s value for expatriates, a person with knowledge of the matter said.

Emirates Airline Expects 20% Increase in Revenue, Khaleej Says

Emirates, the world’s largest airline by international traffic, expects an 18 percent to 20 percent increase in sales this year, and a 12 percent increase in the number of passengers, as it expands its operations in Asia, Al Khaleej reported citing an interview with Tim Clark, the president of the Dubai-based company.

World’s Top Sugar Refinery Al Khaleej Halts Output on Demand

Al Khaleej Sugar Co., owner of the world’s largest sugar refinery, stopped processing at its factory in Dubai because demand slowed and silos are full, according to Jamal Al Ghurair, the company’s managing director.

U.A.E. Pro-Government Media Association Slams Opposition Lawyers

The United Arab Emirates’ Journalists Association denounced the defense lawyers for a group accused of conspiring against the government, saying they are putting pressure on local media, the state news agency WAM said.

Al Khaleej Sells About 150,000 Tons of Sugar to World Market

Al Khaleej Sugar Co., the world’s largest sugar refinery, is selling raw sugar from Brazil back to the world market as it expands purchases from India, according to Fazalur Rahman, general manager of finance.

Sugar Plunge Ending as Output Declines From Mexico to India

Sugar output is poised to drop for the first time since 2009 as farmers from Mexico to India cut plantings after the biggest two-year price slump since 1999.

U.A.E. Detainees Belong to Muslim Brotherhood, Al Khaleej Says

Sixty detainees in the United Arab Emirates confessed that they belonged to the Muslim Brotherhood and had received money from external groups to overthrow the government and install Islamic rule, Al Khaleej reported.

Etisalat Plans to Allow Foreigners ‘Soon,’ Khaleej Says

Emirates Telecommunications Corp., the state-controlled company known as Etisalat, will “soon” allow foreigners to own its shares, Al Khaleej reported, citing Group Chief Executive Officer Ahmad Abdulkarim Julfar.

Etisalat Plans to Bid for Mobile Phone Licence in Syria, Khaleej Reports

Emirates Telecommunications Corp., the bigger of two phone companies in the United Arab Emirates, plans to bid for a licence to become Syria’s third mobile-phone operator, Al Khaleej reported, citing Jamal Al-Jarwan , the chief executive officer for Etisalat’s international investments.

U.A.E. May Exclude Bonds From Bank Lending Limit, Khaleej Says

The United Arab Emirates’ central bank may exclude bonds from a limit imposed on banks’ lending to local governments and related entities, Al Khaleej reported, citing people it didn’t identify.

"We have a commitment of off-take and normally we re-sell it in the world market and this time we've got it here because we could not sell it somewhere else, so it has to be dumped in this region."

- Al Khaleej on Feb 03, 2013

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