DUBAI: Emirates Telecommunications Corp. (Etisalat), which lost a bid to take a stake in Morocco’s Meditel telecoms firm, is still interested in the country’s sector, a spokesman said on Wednesday. Ahmed Bin Ali said Etisalat, the Arab world’s third-biggest telecoms firm by market value, saw Morocco as a growth market.
Al-Futtaim seeks projects
DUBAI: Al-Futtaim Capital, the investment arm of the United Arab Emirates-based Al-Futtaim Group, is in talks for possible projects in OPEC members Libya and Qatar as it looks to tap into growth in emerging markets. The company also plans to raise $200 million in additional capital for its Real Estate Investment Fund, increasing its size to $700 million, to finance current and future projects, the company’s managing director told Reuters.
Qatar money supply slips
DUBAI: Qatar headline money supply declined 4.5 percent in June versus a year earlier, its third decline in as many months, while domestic credit of commercial banks edged up 1 percent month-on-month, official data showed. M2 stood at 188.18 billion riyals ($51.70 billion) at the end of June, compared with 197.13 billion riyals a year earlier, the data in a monthly bulletin showed.
Foreign firms bid for Sohar
MUSCAT: Foreign companies are bidding for Oman’s Sohar port project to build a 600 meter-long jetty and a new harbor basin, a port official said on Wednesday. He named the bidders as Australia’s McConnell Dowell, Geneva-based Archirodon Construction Services, a joint venture of Belgium’s Six Construct and Interbeton of the Netherlands, a joint venture of Italy’s Saipem, and India’s Afcons.
