JEDDAH, 2 April 2007 — The National Commercial Bank ( NCB)’s paid capital is increased to SR15 billion from SR9 billion through the capitalization of SR6 billion from the general reserves by distributing two shares for every three shares, Abdullah Bahamdan, the bank’s chairman, said. Hence, the number of shares issued will increase from 900 million shares to 1.5 billion shares worth SR10 per share. He added that this capital increase supports and strengthens the bank’s capital foundation and enables it to apply its growth strategy in current business and expansion in new activities.

Real Estate Share Business Closed

JEDDAH, 2 April 2007 — The higher authorities have ordered a closure of the real estate share business of the Saleh Al-Deraibi Group and return the money of its shareholders, an official source at the Ministry of Commerce and Industry said yesterday. The group was collecting money for its Bunduqiya Island real estate project in Jeddah’s south Corniche. Shareholders can approach the court to win their rights, the source said.

Jordan’s Tourist Traffic Rises 20%

AMMAN, 2 April 2007 — Overall visitor arrivals in Jordan registered an increase of 20 percent in the first two months of the year, according to figures released yesterday by the Ministry of Tourism. The ministry said that 941,140 tourists visited the country during January and February compared with 780,782 in the same period of last year. There was an upward trend in both overnight and same-day visitors from main market destinations, mainly Europe, the US and the Gulf region. The number of tourists from Europe and the US increased by 54 percent and 30 percent, respectively, the ministry said. At least 93,451 European tourists visited the Kingdom during the first two months of this year compared with 60,863 in the same period of 2006, while visitors from the US rose from 18,682 to 24,348. (Abdul Jalil Mustafa)

Dubai Bank Opens 5 New Branches

DUBAI, 2 April 2007 — Dubai Bank opened five new branches throughout the UAE, three are in Dubai, one in Ras Al-Khaimah and one in Al-Ain. Sheikh Soud ibn Saqr Al-Qasemi, crown prince and deputy ruler of Ras Al-Khaimah (RAK), Dubai Bank Chairman Mohammed Al-Shaibani and Dubai Bank CEO Abdulaziz Al-Muhairi, inaugurated the new branch in RAK. In Al-Ain, Sheikh Sultan ibn Khalifa Bin Shakhboot Al-Nahyan, together with bank board member Mohammed Al-Jallaf, inaugurated the new Al-Ain branch. Mohammed Khalifa Al-Habtoor and board member Saeed Al-Tayer unveiled the new Al-Mamzar Branch. Abdul Jaleel Yousef inaugurated the new Garhoud branch, while Sultan ibn Mujrin, general manager of Dubai Land Department and Dubai Bank board member Hamed Kazim inaugurated the new Land Department branch in Deira district.

DMCC Introduces Diamond Laboratories

DUBAI, 2 April 2007 — The Dubai Multi Commodities Center (DMCC) yesterday announced the launch of International Diamond Laboratories, its new diamond certification service. The government-backed initiative is a direct result of the Diamond Master Plan that DMCC adopted earlier this year.

to further develop its services to the diamond trade. Headquartered in Dubai, IDL will have branches in Antwerp and Mumbai. Peter Meeus, the newly appointed executive director for Diamonds and Colored Stones at DMCC, has been appointed the chief executive officer of the new laboratory. Dr. David Rutledge, chief executive officer, DMCC, said: “High-quality diamond certificates are becoming increasingly significant in the industry as they generate confidence in the certified product. The diamond lab will offer value-added services to the trade and consumers in keeping with Dubai’s status as the leading diamond trade hub in the region.”

Qafco Flower,

Vegetable Show

Arab News

DOHA — The Qafco flower and vegetable show, held at the Al-Banush Club in Mesaeed on Friday, attracted 400 competitors and 12000 visitors. Organizers said that some 4000 exhibits were on display. The contests included vegetable and fruit carving, ice and butter carving for professionals and hotels and various types of flower arrangement competitions for nurseries, flower shops and professionals, besides schools. Ravi and Peelu Khanna won the first prize while the second prize in the over all award for amateurs went to Arnganayaki G. Kumar. The third prize was bagged by Taniya Neeta Malhotra. In the professional category, Mecure Grand Htel was the over all winner. The second prize went to Ramada Hotel while Felix Marte won the third prize. In the schools section, MES Indian School won the first prize while the second prize went to the Ideal Indian School.

The Pakistan Education Center won the third position. The opening ceremony was attended by Abdullah H Salatt Qafco, chairman; Dr Werner Soyez, Qafco deputy managing director; Hamed Al-Marwani, Qafco Industrial Relations manager and chairman of the organizing committee, and other dignitaries.