Blog

Dubai Investment instruments issued bonds value one billion dirhams

Issued Dubai Investments instruments bonds value one billion dirhams over three weeks, and an interest rate of less than five percent, for a period of five years.

Funds tend instruments will be collected by the end of April a maximum payment of financial commitments worth 600 million dirhams to reduce the amount of interest paid by the company, and will direct the remaining part of the expansion and investment opportunities.

The company is currently working to exit from projects with a total value of up to 550 million dirhams, where double the exit process that took place during the year, the company’s profits three times during 2013.

And detailed managing director and chief executive officer of the company Khalid Kalban during a meeting press at the company headquarters yesterday, made Dubai Investments profits to 320.6 million dirhams in the past year 2012, up 58 percent from what we have achieved through its predecessor in 2011, and by paying the support of corporate performance from hand, and exits carried out by the company during the last year.

Kalban added that growth was expected, though the gains achieved after setting aside allowances ranging between 85 and 100 million dirhams.

He pointed out that the company’s revenue in 2012 exceeded 2.63 billion dirhams, thanks to the use of thoughtful and effective management methods of acquisitions and the establishment of and enter into strategic partnerships in the region.

And expected to be positive this year, and moving the company to expand in some of its units during the year, and work to seize the opportunities available in the markets of the region.

He also spoke about the company’s intention to obtain financial facilities through the issuance of sukuk worth billion dirhams, will be in three weeks from now, where is the completion of the preparation and selection of the bank, which manages the deal this week, pointing out that the duration of instruments will be for five years, at an interest rate of less than five percent.

He pointed out that the aim of this proposal will meet some of the obligations and directing the other part of the expansion and possible investment opportunities and acquisitions.

He explained that the proposal will contribute to the reduction of benefits currently paid to financial obligations, pointing out that it is about 600 million dirhams will be paid through funds instruments that will be collected at the end of the month of April at the latest.

He added that they are paying nearly 200 million dirhams every year to the banks, and therefore These payments will stop and replace instruments billion dirhams paid on the fifth year.

As for the topic of exit, said Kalban been out of the three projects worth 200 million dirhams in 2012, one of Al Arif, referring to the company’s intention to exit from two other projects during the year.

He said that the exit of these two projects will achieve revenues in the range of 400 to 450 million dirhams from one, and the other in the range of 75 to 80 million dirhams, including conveying the size of projects to between 500 and 550 million dirhams

February 20, 2013
AED 355 million real estate valuation in Dubai

Achieved real estate dispositions in Dubai Land Department in Dubai more than 355 million dirhams as the value of AED 260 million of which sales territory 116 million dirhams and Mbayat apartments and villas 144 million dirhams

The recorded value of mortgages of $ 95 million dirhams which lands mortgages worth 68 million dirhams mortgages villas and apartments worth 27 million dirhams circuit today saw record 213 allegiance 126 allegiance Land

Mbayat amounted apartments and villas 87 Mbayat worth 144 million dirhams, of which 84 Mbayat for apartments worth 131 million dirhams and 3 Mbayat Villas worth 13 million dirhams

Was the most important pledge allegiance to $ 9 million dirhams in the broader market and swear allegiance to another $ 8 million dirhams in the Manara area

Also topped the fifth THANYAH area from areas where number Alambayaat as recorded 11 Mbayat worth AED 38 million, followed by the DIP first recorded 5 Mbayat $ 2 million dirhams

The day saw record 37 mortgage which 23 of land worth 68 million dirhams and 14 mortgage for apartments and villas worth 27 million dirhams was the most important area of Al Barsha South Fourth worth AED 24 million and other in the area of Wadi Safa 6 worth 18 million dirhams

February 20, 2013
25.6 billion dirhams investments of insurance companies in UAE

Revealed a seminar organized by the Department of Economic Development in cooperation with the Insurance Authority in the United Arab Emirates, that the volume of investments of insurance companies operating in the UAE amounted to 25.6 billion dirhams in 2011. The seminar discussed the axes awareness of employees in the insurance sector in Ajman details of the legislation and insurance licensing and inspection procedures, to contribute to the development of performance and increase the role of the insurance sector in the economic system and enhance the competitiveness of the UAE insurance market to reflect the dynamics of the national economy.

Dr Mostafa Ragab consultant insurance in the form of insurance that the number of insurance companies in the United Arab Emirates reached 60 companies, including 34 national and 26 foreign while the total number of insurance companies Takaful 10 companies and the number of insurance agents 19 companies and the number of insurance brokers 172 company and the number of consultants insurance 17 companies and a number of experts detected and assess the damage 69 companies and the number of insurance experts Mathematics 32.

While the value of insurance premiums in the UAE in 2011, the equivalent of 24 billion dirhams and the share of national companies “lock people” accounted for 30% and 70% foreign property insurance and national responsibilities accounted for 76% and 24% foreign. He said: The number of employees in insurance companies amounted to seven thousand and 998 employees and the number of employees 521 citizen citizens by 5.6 %.

The participants praised what has been presented and display of information about work methods and regulations in force in the form of insurance and state laws governing the operation of licensed insurance companies. Sulaiman said Taher, head of incidents in Al Buhaira National Insurance, this workshop was fruitful and positive in terms of the information on the insurance sector in the UAE and the importance of this sector and its vital role in the development of the national economy and strengthen the approach the state in economic diversification and protection activities related economic sectors and commercial and industrial, urban, and provide stability in the community in several important aspects.

Amer said mouse branch manager of Falcon National Insurance: Such workshops have a positive impact on the workers in this sector because it gives them an idea of the last decisions and laws in this regard, stressing that it was to take advantage of what was presented during the workshop of new topics on insurance and staff The mediators and the size of the companies.

February 20, 2013
Gold is struggling to hold above $ 1600

Gold rose barely above the level of $ 1,600 an ounce on Wednesday, with the decline of demand for the metal as a safe haven amid signs of improvement in the global economic outlook, which dominates on purchases deals in Asia.

Traders said gold may continue the pattern of trading in recent times, with high prices initially supported by buyers in China and other Asian countries and then back down after the end of the Asian trading hours.

One of the traders said in Beijing, “We have seen a very strong turnout in the local market due to falling prices, though, this request is unable to push prices to high levels”

“Once that stabilizes prices around this level, we may see diminished demand., But if we saw another drop or new rise in prices, it will drive new investments and physical demand for gold”

According to one technical analysts that gold will test the support level at 1599 dollars an ounce. In the current breach of this level will move to support the level of 1582 dollars.

And at 9:55 GMT, spot gold price rose less than a dollar to hit $ 1605 an ounce, after hitting the highest levels of the session at 1609 dollars. And yesterday, The metal fell to $ 1600 for approaching the lowest price in 6 months at 1598 dollars struck last week.

The price of gold settled on March contract, little changed on the level of $ 1603.6 per ounce.

And silver rose in online transactions 11 cents to $ 29.53 dollars an ounce to remain close to the highest levels of the session at 29.64 dollars.

The price of platinum fell on April contract around 17 dollars to 1680 dollars an ounce after saying Anglo American Platinum workers in South Africa have returned to work after the strike for one day.

Palladium lost on March contract around $ 2, the lowest levels of the session at 762.3 dollars per ounce.

February 20, 2013
India imposes new taxes on gold to reduce its imports

The Indian government imposed new taxes on gold in a bid to reduce imports that feed a huge trade deficit. And new taxes contradict the ingrained culture has made India the largest buyer of gold in the world.

The cause of the high demand for coins, bars and gold jewelery in a big increase in the trade deficit for India, which weaken its currency.

And last year Indians imported 864 tons gold, representing about a fifth of global sales.

The cost last year of $ 2.5 trillion rupiah (forty-five billion dollars), second in the standings after the bill incurred by India against imports of oil.

And India last month raised taxes on gold imports to 6%, but few believe that it would refrain demand for gold. Because gold jewelery need in marriages in India, and is seen as a status symbol and a safe haven for wealth.

February 20, 2013
Gold falls to lowest level since July after the publication of the minutes of the meeting of the Central American

Gold fell about 3 percent on Wednesday, its lowest level since July after noted the minutes of the latest meeting of the Federal Reserve to the U.S. central bank may need to slow down or halt its asset purchase program sooner than expected.

And gold on Wednesday losses, which amounted to 2.7 percent is the biggest drop of the precious metal in a single day since 29 February 2012 when he scored a net loss of 5 percent as investors questioned the Federal Reserve’s commitment to its policy of facilitating cash.

The gold was also under great pressure before the publication of the minutes of the meeting of the Central U.S. with the spread of rumors about having a large fund invests in commodities to liquidate its holdings, which drew wide sales of industrial goods in crude oil Mekdtha and copper.

The intraday price fell Spot gold 2.8 percent to $ 1558.24 an ounce, its lowest level since July 12, 2012 before recovering slightly to $ 1562.34 in late trading in New York.

And U.S. futures fell for gold for April delivery to a record $ 26.20 settled at 1578.0 dollars per ounce.

Among other precious metals silver price fell for immediate sale 3.9 percent, to 28.28 dollars an ounce, while platinum fell 2.7 percent to $ 1641.49 an ounce and palladium fell 4 percent, to $ 730.72 an ounce

February 20, 2013
Gold may extend losses due to negative technical indicators

Indicates an art form very negative on the charts of gold fell more probably looming as the most stable future vision for the global economy and fading concerns about inflation reduced the investment boom of the metal.

Approached Spot gold dealings on Tuesday to form a “Death Cross” Death Cross, when driven down the average in 50 days without move 200-day average.

And fell on Tuesday, gold rose 0.3% to a level of 1,604 dollars an ounce. The average move in 50 days, the level of 1,665 dollars, up 10 cents from the average driven in 200 days.

Last time where this art form, “Death Cross” was on 12 April 2012, and gold prices fell after the $ 150, or almost 10%, in the next 25 days.

Gold fell, which is used by investors to hedge against inflation and as a safe haven from economic uncertainty, by 3.5% last week in the biggest weekly decline since May 2012.

Since October, the precious metal was falling steadily as investors are flocking to U.S. stocks signals about recovery in the U.S. housing market and the most optimistic vision of the future of the global economy. The benchmark Standard & Poor’s to the highest level in 5 years on Tuesday.

But some investors remain worried about the slow recovery of the U.S. labor market, despite the ongoing economic stimulus from the Federal Reserve.

Said Adam Sarhan, director Executive Srhan Capital, “the risk of inflation is no longer worried investor, while deflation is the greatest motivation to concern investors and central banks, and therefore hurt gold.”

Sarhan said that the repeated failure of gold to penetrate the average 50 days and moved its downward trend over many months also confirmed negative view of the metal.

Perhaps the news that institutions and prominent investors from including Olaenz and Pimco, George Soros and Julian Robertson reduced their share of the largest gold fund trader in the stock market in the world, “Drives DVD R” Gold Trust, during the fourth quarter of 2012 won morale.

And also the need for gold to hedge against currency, largely endorsed by prominent hedge fund managers as John Paulson, receded drastically as it seems unlikely, at least now a messy breakup of the euro zone, according to what the analysts said.

February 20, 2013
Gold is recovering from its lowest level in 6 months

Gold rose yesterday supported by purchases in the market present in Asia to recover from the lowest level in six months hit last week, but weak investor interest Westerners and high dollar limit gains before the minutes of the meeting of the Federal Reserve (the U.S. central bank) later in the week.

By the time of 1106 GMT, the spot price of gold 0,12% to $ 1610.94 an ounce and was relegated to the lowest price in six months at $ 1598.4 on Friday after he came down from a key support level. The U.S. gold futures rose 0.1% to 1611 dollars. The hostel Gold 3.8% last week and despite recovering somewhat, analysts do not expect to climb in the short term as confidence still fragile after signs of improving economic conditions.

The price of silver increased in online transactions 0.5% to 29.99 dollars. Awad platinum early losses and recorded its highest level during the session at $ 1699.24 before falling back to $ 1688.74, down 0.2%. And palladium rose 0.5% to $ 764.47 an ounce.

February 20, 2013
Most important news of gold and precious metals 19/02/2013

Low gold near its lowest level in 6 months due to economic optimism

Capital Market – Gold fell near the lowest level in six months on Tuesday, stable above the level of $ 1,600, where stocks rallied and won the signs of improvement in the outlook for the global economy of vogue metal as a safe haven.

The metal ratio of 0.5% as investors gravitated toward involving risky assets jumped Standard & Poor’s index to its highest level in 5 years thanks to a series of recent merger activities.

He also led technical weakness in precious metals to decline widely. Silver have fallen about 2% to its lowest level in six months.

Analysts said that the fading risk of a breakup of the eurozone and recent data showing continued economic recovery around the world reduced the need for the metal among investors.

Gold fell 0.6 percent to $ 1,600 an ounce by at 17:14 GMT, near the lowest level in six months at 1,598 dollars, which are recorded on Friday.

Silver fell, get used to be more volatile than gold, rose 2% to 29.25 dollars an ounce.

And platinum fell 0.3% to 1,686 dollars an ounce, while palladium rose 0.1% to 762 dollars an ounce.

Platinum jumps near $ 1,700 after the company announced Amblaz to stop its activities in South Africa

Capital Market – platinum record the highest levels of the session near $ 1,700 an ounce on Tuesday, reversing earlier losses after the company said the Amblaz it closed all its operations in South Africa.

The closure came after fighting a Amblaz mine on Monday following clashes between rival trade unions which wounded at least 13 workers.

And a platinum record in the spot market the highest price since this morning at $ 1699.24 an ounce after falling earlier to $ 1672.50.

Gold rises thanks to strong demand in Asia but the strength of the dollar curb further gains
Capital Market – Gold rose for a second straight session on Tuesday with the support of strong purchases in Asian Alasouk after the return of dealers in China from a long holiday week, but weak interest of Western investors and the rise in the dollar curb further gains.

The dollar fell a severe form when they lost 3% last week – the biggest decline over 9 months – Chinese traders were quick to catch deals when he resumed activity this week, prompting the trading volumes in the Shanghai Gold Exchange to record highs on Monday.

But traders warned that short-term demand. Said Chen Min, an analyst at Jane Roy futures in south China’s Shenzhen City, “a very weak recovery.”

“The investors prefer to put money elsewhere when the United States in the recovery and the euro zone economy is improving, it seems. Little chance that soon ascend prices in light of the transition to bet on lower prices falling prices until the middle of the year.”

Chen predicted decline in prices Elymistoy between 1500 and 1550 dollars per ounce by mid-year.

At 9:25 GMT, the price of gold rose in the spot market 3.5 dollars to 1613 dollars per ounce to stay close to the lowest price in 6 months when $ 1598.04 hit late last week.

The price of gold rose on March contract 3.5 to record $ 1612.5 dollars an ounce after moving between 1606.5 and $ 1617.9.

And won the silver in online transactions 15 cents to $ 30 dollars an ounce after recording the highest levels of the session at 3.13 dollars.

Platinum rose on April contract about $ 20 for up to $ 1697.2 an ounce, and won the March palladium contract about $ 12 to score 765 dollars an ounce

February 19, 2013
Gold rises in morning trading to its highest price

Rose gold futures during the European morning hours Tuesday, as traders continued in Asia to take advantage of cheap Ratings –

Gains remained limited due to the strength of the U.S. dollar as well as the weak technical picture ..

On the Comex division of the New York Mercantile Exchange, the futures trading of gold for April delivery is trading at 613.50, $ 1 per ounce during European morning trade, gaining 0.25% on the day.

Prices traded in a tight range between 614.80, $ 1 per ounce, the highest price for the day and the lowest price for a session at 609.40, $ 1 per ounce. Gold prices fell for 1, $ 598.25 an ounce on Friday, the lowest price since Aug. 15.

Gold prices were likely to find support at 590.25, $ 1 per ounce, the lowest price since August 15, and the near-term resistance at 1, 635.95, $ per ounce, the highest price since February 15, the Supreme.

Support strong physical demand in Asia and the market prices in mainland China that have opened their markets Monday after the holiday for a week on the occasion of the Lunar New Year.

China is the second largest consumer of the precious metal, behind India.

Gains remained limited, while the dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, hovered near its highest level in six weeks from 80.77.

The strength of the U.S. dollar usually gold weighs, because it alleviates the metal’s appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies.

Investors remained cautious before the Italian general election coming next week, amid fears that a hung parliament could hamper ongoing efforts in economic reforms.

Gold prices fell below 600.1 key level for the first time since August last Friday, and a wave of technical selling set forth in the futures after penetrating key support levels, triggering a wave of sell orders.

From a technical standpoint, we could see further losses of gold, with market analysts warning about a possible move towards the level, 550 1. Dollars per ounce.

Gold traders awaited the results of the minutes of the Fed meeting for the month of January on Wednesday for hints about the central bank’s stance towards monetary policy.

May affect any indication of the policy of the Reserve Bank of higher U.S. dollar higher, and the pressure on dollar-denominated commodities.

The focus is also on the U.S. housing market data this week as investors awaited signs on the economic health of the country.

However, any improvement in the U.S. economy may reduce expectations for further Fed easing.

In another place in the Comex rose, silver for March delivery rose 0.5% to trade at $ 29.99 an ounce while copper fell for March delivery 1.65% to trade at $ 3.676

February 19, 2013