Category Archives: News

UAE Introducing New Dh500 Paper Currency

The Central Bank of the United Arab Emirates announced that Abu Dhabi will soon be placing into circulation a new Dh500 banknote. The amended banknote will be reprinted with updated security features. New Banknote Will Be Circulated November 29 “This currency note will be put in circulation as legal tender along with currency notes currently… Continue Reading

Mike Grant Appointed Chief Restructuring Officer for the Al Jaber Group

The privately owned Al Jaber Group, and Abu Dhabi-based civil and electro-mechanical engineering contractor, announced the appointment of Mike Grant to be their new chief restructuring officer. Mike Grant will be leading the company’s latest move to further along their debt reorganization, according to spokesmen for the company. Grant is a veteran of restructuring at… Continue Reading

Giordano Middle East Expanding in Abu Dhabi

The Mushrif Shopping Mall in Abu Dhabi is soon to be home to the 200th shop of Giordano Middle East. The goal for Giordano, one of the world’s leading clothing retailers, is to operate 250 stores in the region by the year 2015.  Giordano has had a presence in the Middle East for 18 years… Continue Reading

Accenture Acquires Major Saudi IT Firm

Two major Middle East players have joined forces with the aim to strengthen their IT effectiveness in the fast-growing region in which they inhabit. Accenture, which specializes in management consulting, technology and outsourcing, acquired a majority of one of Saudi Arabia’s leading information technology companies, Al Faisaliah Business & Technology Company (FBTC.) FBTC is a… Continue Reading

Tunisia Holds First Free Vote After Arab Spring

Sunday, October 23 marks an historic day, not only in Tunisia, but for the entire Arab world as citizens go to the polls in what will be a free election for a 217-member assembly whose mandate will be to appoint a temporary interim government and to draft a new constitution. Elections come exactly nine months… Continue Reading

Robots in Abu Dhabi Part II

Jorien Guijs, the marketing manager for PAL Robotics is excited about the future of his company. “To be able to deliver these robots to ADNEC, and other future clients, we are building a factory in Abu Dhabi. If all goes according to plan, the factory will be ready by the second half of 2012, producing… Continue Reading

Iran Displays Sajjil Missile During Military Parade

The 31st anniversary of the commencement of the Iraq-Iran war was marked last week with a spectacular military parade complete with a display of Iran’s growing arsenal of short and medium range ballistic missiles. The solid-fuel Sajjil was brought back for another year, after its parading last year was such a success. The Sajjil missile… Continue Reading

Syria Cracks Down on Rebels Near Turkish Border

Violence has stepped up a notch or two in Syria as the government continues to crackdown harshly on anti-government protestors across the country. One hundred people or more have already died just this past week in the Syrian regime’s attempts to suppress rebels in the face of growing concern and criticism within the international community.… Continue Reading

HSBC Planning Job Cuts in Six Middle Eastern Countries

Beginning of Major Lay-Off Plan The bank which calls itself “The World’s Local Bank,” HSBC, has decided to lay-off at least 200 employees in six countries in the Middle East. The job cut of 200 in the region is just the beginning of a major reduction in worldwide employees reaching as many as 30,000 cuts… Continue Reading