Sultan bin Nasser Al Suwaidi, the governor of the Central Bank of UAE, who was addressing the media on the margins of the World Islamic Banking Conference, mentioned that the economy of the nation is expected to grow by about 4% over 2010 and 2011. “Average growth for the two years [2010 and 2011] is around four per cent and it is expected”, he said.

Sultan bin Saeed Al Mansouri, the Economy Minister of the UAE, had mentioned in May that the economy of the nation has the capacity to showcase a growth of 3.2% this year, as an oil barrel now is priced at $85. But the International Monetary Fund’s revised forecast regarding the UAE GDP contradicts these expectations. The IMF has predicted a growth of 1.3% in the GDP for this year.

According to Al Suwaidi, the top-notch, state-of-the-art infrastructure of the UAE has been designed in such a way so as to reap substantial benefits from the continuously growing investment and trade flows.

Sharjah International Automobile Show raring to go Expo Centre Sharjah’s bi-annual event is back with vintage and custom-made cars, 4x4 demonstrations and its first car awards ceremony.
# Sharjah International Automobile Show raring to go

MANAMA: The investment banking subsidiary of Saudi Arabia's Al-Rajhi Bank, Al-Rajhi Capital, and Bahrain-based global investment bank, Arcapita BankArcapita Bank, have announced the launch of a $500 million fund aimed at the regional real estate sector, the ARC Real Estate Income Fund.

The entities will seed the fund with a joint investment of $50 million and acquire investments for the fund in high-quality, income-generating real estate assets in Saudi Arabia and other GCC (Gulf Cooperation Council) nations. The focus will be on logistics warehouses, as well as healthcare and education-related assets.

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