DUBAI, 20 September 2007 — International Rubber Company (IRC), a subsidiary of M’Sharie, the private equity arm of Dubai Investments, has recently announced that it has been awarded an AED1.7 million contract to supply rubber gaskets and silicone sealant for the New Doha International Airport (NDIA) project, phase 1. The deal, commencing in September 2007, appoints IRC to supply rubber gaskets for the exterior walls of the development to form a seal against air, water and wind infiltration, in addition to providing silicone sealant for structural glazing applications.
Union Properties Hosts Exhibition
Arab News
DUBAI — Union Properties (UP), one of the leading property developers in the United Arab Emirates, marks 20 years of property development in Dubai by hosting a walk-through exhibition highlighting the company’s past and present achievements in a uniquely designed marquis located at MotorCity, Emirates Road. The exhibition is open daily to the general public during the Holy month of Ramadan from 20:00 p.m. onward. The exhibit will detail the 20-year journey of UP since its launch as Union Property Private Limited in 1987.
Jordan Cuts Key Rate to 7 Percent
Abdul Jalil Mustafa, Arab News
AMMAN — The Central Bank of Jordan yesterday cut prime interest rates by 50 basic points, to match a similar cut on the dollar by the US Federal Reserve, according to a CBJ statement. The rediscount rate was trimmed to 7.00 percent from 7.50 percent while the repurchase agreements rate was cut to 6.755 from 7.25 percent, the statement said. “The move is part of a flexible monetary policy that responds to various international and local changes,” the CBJ said.
Charles Russell Comes to Bahrain
Walid Mazi, Arab News
MANAMA — UK-based legal practice firm, Charles Russell, has opened its first permanent Middle East office at the Bahrain Financial Harbor in Bahrain. The opening of Bahrain’s office marks another chapter in Charles Russell’s expansion plans, following the opening of an office in Geneva in January 2006. The primary focus of the Bahrain office will be to advise clients in the region on corporate and private client work, including corporate finance, technology, media and communications, regulatory and competition, banking and project finance and commercial real estate, as well as private capital and private property.
