MANAMA, 5 November 2007 — Bahrain-based Unicorn Investment Bank’s earnings rose 32 percent to $84.6 million in the first nine months on the back on a number of groundbreaking transactions. The bank, which achieved a series of notable “business firsts” in 2007, reported net profit of $32.1 million. “Unicorn continued to make good progress in the first nine months of 2007 toward fulfilling its strategic vision. We continue to push back the boundaries of Islamic banking and complete ground-breaking transactions,” said Unicorn Managing Director & Chief Executive Officer Majid Al-Sayed Bader Al-Refai. “The strong performance included the raising of $1.6 billion for a leading residential real estate developer in Saudi Arabia through two landmark sukuk issues.” (Walid Mazi)
10th Dubai Airshow Set to Take Off
DUBAI, 5 November 2007 — Over 140 aircraft from across the globe will be on display at the 10th Dubai Airshow — including a host of new models ranging from strike fighters to trainers, from VIP business jets to heavy cargo carriers — which runs on Nov. 11-15 at the Airport Expo Dubai. The airshow will boast up to 900 exhibitors from 50 countries and cover a massive 35,000 square meters of hall space with a further 90 chalet units. This year’s static display will boast its largest ever aircraft showing including regional debuts from, the Cirrus SR22 G3 — the world’s fastest-selling, single-engined four-seater aircraft; the Eclipse 500, the forerunner in the Very Light Jet (VLJ) market and the quietest jet in history; the Dassault Falcon 7X.
Dubai City of Aviation Set Up
DUBAI, 5 November 2007 — Sheikh Mohammad ibn Rashid Al-Maktoum, vice president and prime minister of the UAE, and ruler of Dubai, yesterday issued a decree establishing the Dubai City of Aviation, comprising the Dubai Airports, Dubai World Central, and Dubai Air Traffic Navigation. At the same time, the Jebel Ali International Airport has been renamed the Al-Maktoum International Airport. Dubai Airports has been awarded the mandate to manage the Dubai International Airport as well as the Al-Maktoum International Airport.
