Ras Al Khaimah infrastructure projects to benefit from Dh16billion initiative
Ras Al Khaimah is one of the northern emirates earmarked for infrastructure funding from a new initiative by the UAE government. A special committee is being formed to manage Dh16 billion worth of new infrastructure projects in the northern emirates which includes Ras Al Khaimah. Funds for the initiative have yet to be disbursed by [...]
Turkey's fuel distributor Akpet bought by LUKOIL
Russian oil giant LUKOIL agreed to buy Turkish fuel distributor Akpet for $500 million on Monday, securing 5 percent of the oil product retail market in Turkey . LUKOIL, Russia's second largest oil producer, hopes to double its Turkish market share to 10 percent within a decade, company president Vagit Alekperov said. The Russian company [...]
Turkey to be 9th largest economy in the world by 2050
Turkey would grow to become a nearly 6 trillion dollar economy by 2050, the 9th largest economy in the world, Global investment bank Goldman Sachs said in a recent report. The report said that Turkey would become a part of the global balance of power if it maintains its policies, and the country’s national income [...]
Brightpoint invests in Turkey’s wireless market
Brightpoint Inc. announced today that it has commenced operations in the Turkish wireless market. Turkey is one of the growing wireless markets in the world, with an attractive mobile phone industry. Brightpoint is looking to establish market share in Turkey as expansion into Turkey is consistent with Brightpoint's growth strategy. Brightpoint Inc. is a global [...]
Dubai property sales to reach Dh717 billion in 2008
Dubai property sales have increased as more global investors, shifting their focus away from real estate markets hit by the credit crunch, seek to enter the Gulf markets, a leading global property investment expert has said. Dubai is projected to record a 55.2 per cent surge in property deals and hit Dh717 billion in 2008, [...]