Saudi Arabia's central bank expects moderate inflationary pressures in the Gulf oil producer in the second quarter of 2011, it said yesterday, but analysts remain wary of import inflation and dollar weakness.
Inflation in the world's top oil exporter has eased since touching an 18-month high of 6.1 per cent in August 2010 as a rise in food costs subsides."Available data ... show possible continued domestic inflationary pressures, at moderate rates, during the second quarter of 2011," the central bank said in a quarterly inflation report.
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Shaikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation and Chairman of Emirates Group, has been named Chairman of Dubai World, the flagship conglomerate of the emirate.

His Highness Shaikh Mohammad bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Sunday issued a decree restructuring the Board of Directors of Dubai World under the Chairmanship of Shaikh Ahmed, who is also the head of Dubai Supreme Fiscal Committee.

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