ABU DHABI, 1 August 2007 — Lord Norman Foster will address at the World Future Energy Summit, (WFES) organized by Masdar, from Jan. 21-23, 2008 in Abu Dhabi. The renowned architect of Foster & Partners will present a keynote speech on the subject of sustainable architecture of the future, with insights into the world’s first attempt to build a zero carbon zero waste city — using a vast range of technological breakthroughs for the future of environmental sustainability.
NBD Reports AED651m Profit
DUBAI, 1 August 2007 — National Bank of Dubai (NBD) reported a net profit of AED651 million for the first half of 2007, recording strong growth of 29.1 percent over first half 2006 results of AED504 million. Earnings per Share (EPS) increased to AED0.42 in H1 2007 from AED0.32 in H1 2006. Net interest income grew by 29 percent compared to first half of 2006 to AED765 million, well supported by healthy growth in loans and customer deposits.
DFM Launches Companies Guide
DUBAI, 1 August 2007 — Dubai Financial Market (DFM) yesterday launched “Companies Guide 2006,” the first complete guide to DFM-listed companies. The guide, printed in Arabic and English, comprises comprehensive details of 46 listed companies in nine sectors, including banking, investment and financial services, insurance, real estate and construction, materials, consumer staples, telecommunication, transportation and utilities. It includes contact details for companies, date of incorporation, auditors, legal advisors, boards of directors, ownership ratio, ownership structure and number of shareholders during the past four years.
Business Avenue Foundations Laid
DUBAI, 1 August 2007 — Regional property developer, Al-Mazaya Holding, has laid the foundations for Al-Mazaya Business Avenue at the Jumeirah Lakes, having appointed General Construction Company (GCC) as the main contractor for the AED1.25 billion project. The project will include three 45-story high-rise towers, designated for commercial use, with the construction costs alone amounting to AED799 million. It is expected to be completed by the end of 2009.
