Stock and Share - Exit Strategy (When to Sell)

 

To make millions from the stock market, you need to know when to sell your stock and shares. This is usually called share exit strategy. Exit strategy means a method of selling your stocks or shares on the stock exchange. Simply, exit strategy means when to sell your stocks and shares. In the business of stock trading, there are three basic issues:
a. When to buy
b. When to hold
c. When to sell

Out of these three basic issues, "when to sell" is the most difficult. Hence, the need for you to master when to sell if you really want to make millions from the stock market.

Over the years, research and experience have shown that there are five basic share exit strategies in the stock exchange:
1. Situational exit strategy
2. Period exit strategy
3. Price exit strategy
4. Closure of register exit strategy
5. Past performance exit strategy

1. SITUATIONAL EXIT STRATEGY

This strategy is used when an occurrence or situation pushes up the shares prices. A good example is when Otedola bought a controlling quantity of shares in AP stocks in 2007. The price of AP moved from N 60 to N260 under two months. You don not need a prophet to tell you to sell and take profit if you had bought cheap. A similar situation also occurred in international breweries plc.

2. PERIOD EXIT STRATEGY

This strategy is used when you have to buy and sell stocks within a period of time. It is usually applied to funds borrowed from banks and other financial institutions. Here, there is a time frame within which you have to invest the money in stocks and shares.You pay back at the expiration of the given period.Therefore you sell your stocks and shares within that period.

3. PRICE EXIT STRATEGY

This strategy is applied to a stock bought at a price and sold at a higher share price. Here, when you buy a stock in the stock market, you have a target price at which to sell. Hence, if the price share price appreciates to the price, you quickly sell off, take profit and move on to other stocks.

4. CLOSURE OF DATE EXIT STRATEGY

Companies that declare bonus or dividends always give a date for closure of register. The date for closure of register is the date at which anybody that have the company's shares on or before that day is entitled to the declared bonus or dividends. Anybody buying after that day is not entitled to the declared bonus or dividend. The strategy here is to sell at a day after the closure of register. With this, you gain the bonus, dividend and still gain the capital appreciation in the share price. I.e. you gain it all.

5. PAST PERFORMANCE EXIT STRATEGY

This strategy informs or suggests to an investor to sell a stock based on past price trend of the stock. Here, investors use the past behavior of the share price to decide when to sell the stock in the stock market.

GO SUCCEED.
Edoka Tony is a stock analyst with over 10 years of experience in the stock market. He dedicates his experience and knowledge to offering financial advice and helping people make mega millions in the stock market. He has written a lot of articles on stocks and investment which are a must read for every profit-minded investor.

Top 15 Tips For Successful Stock Trading

Trading stocks simply isn't for everyone. Some people can stand the volatility and the pressure that comes with it, and some people can't. Even among the few who can handle the heat, fewer yet will ultimately be successful doing it. While no exact rules can dictate what makes a lucrative stock trader, those Wall Street sages who are legends for making killer winnings in a short amount of time all have a few characteristics in common. 1. Successful stock traders can fight their instincts and act counter-intuitively.
2. Successful traders maintain a regimented system that's as easy and efficient as possible. It rarely makes a difference which system you use - technical analysis versus fundamentals or value versus quality, for example - as long as you adhere to it. A successful trader knows the benefits, as well as the shortcomings, of their system and executes trades based solely upon the system. "The secret to success is consistency of purpose." This means, you must create separate tactics for establishing positions and closing them.
3. Successful traders calculate risk and make decisions that lower their risk exposure. Successful traders abhor losing money and manage their losses before they become too great, even if that entails throwing in the towel and acknowledging they made an incorrect call.
4. However, successful traders are not afraid of mistakes or taking chances. Successful traders have what Native Americans refer to as, "sovereignty," which is the right and capability to do the wrong thing. Essentially, sovereignty is the courage to make your own mistakes, for it's from our greatest failures that we learn the most.
5. Successful traders are not embarrassed or afraid of taking losses. In fact, they expect them and know that an important part of trading is limiting losses and preserving capital.
6. Successful traders master how to analyze stocks. Many traders only use one form of analysis or seek research from one source, but comparing various reports and charts can give you a better picture.
7. Successful traders lead balanced lives. The rush that a homerun trade can produce is addictive, but a successful trader knows when to walk away - and more importantly, has something to walk toward, whether that is family, friends or hobbies.
8. A successful trader cultivates patience. This means letting profitable positions run their course, but it also means that when the market turns against them, they have the patience to try again and approach the market resiliently, courageously and with confidence.
9. A successful trader has a strong drive for success. Trading requires steady efforts, not haphazard positions established cavalierly. Determination to succeed can make all of the difference when the market is tumultuous because many people abandon ship.
10. A successful trader has discipline. That means reviewing markets and researching trades even if he isn't in the mood. Discipline also means holding to your strategy - not buying or selling positions because everyone else is doing it.
5 Bonus Tips
11. A successful trader understands the tactical differences between defensive and offensive behavior, and when each is best used. First, preserve capital, then profit.
12. Successful traders remain as emotionally detached as possible - this means ignoring rumors or Wall Street hearsay. They resist the temptation to join the crowd. Stop loss limits can help traders stay objective by preserving profits and ensuring that profit comes off of the table. While you may miss the rush of the lowest entry points and the highest selling points, stop losses let you sleep at night and live your life without being glued to the computer screen.
13. A successful trader knows himself and is very objective about his strengths and weaknesses. Know how to combat your weakness and implement strategies that capitalize on your strengths.
14. A successful trader knows their portfolio. Never let a trade slip through the cracks - keep detailed records and review your holdings often.
15. A successful trader sticks to the rules - the rules they set for themselves. When markets are moving swiftly, it's easy to lose your head. So, formulate a plan outside of the heat of the moment and stick to it to ensure trading success.

Investment Banks in Middle East

Following are the leading investment banks in the Middle East:

HSBC Middle East Ltd. - It has earned the titles of “Best Investment Bank in the Middle East” and “Best Cash Management House in the Middle East”. The Euromoney Awards for Excellence are given to institutions and individuals that demonstrate leadership, innovation, and momentum in their markets.

Beltone Financial - It is the fastest-growing investment bank in the Middle East and North Africa, providing a comprehensive range of financial services to a substantial and diversified client base that includes high-net-worth individuals, corporations, financial institutions and governments. Headquartered in Cairo, Beltone Financial has offices in Saudi Arabia, the United Arab Emirates, Syria, Libya, Qatar, New York and London.

NBK Capital - It has been named 'Best Investment Bank in the Middle East' for 2009 by The Banker magazine.

BLOMINVEST BANK - It was named Best Investment Bank in the Middle East for 2010 from Banker Middle East.

EFG Hermes - Founded in 1984, EFG Hermes is the premier investment bank in the Middle East and is recognized as the regions market leader in securities brokerage, asset management, investment banking, private equity, and research. The firm is listed on the Egyptian and London Stock exchanges and as at June 2008 had a market capitalization exceeding USD 3.5 billion.

J.P. Morgan - Euromoney has named J.P. Morgan top Investment Bank in the Middle East and UAE. Euromoney’s research team and awards panel rated all submissions on both quantitative and qualitative factors such as KPIs, financial ratios and innovation over the 12-month period to decide the winners.

Stock Investing Tips & Ideas

   Learn how to invest in the Stock market. If you are a beginner or an expert, you can find basic and advanced trading tips and ideas on stock investing in this site.
Before investing in the stock market, you'd better learn some tips about how to invest in the market. In other words understanding of the market is required.

Beginner Investing Tips and Ideas
(How to Begin):

Do you know? many people trade in the stock market with the same chance, but few percent of them make money in stocks. Many of these people, who don't earn enough return, have enough information about investing in the stock market. They make common mistakes and you should avoid them by having a high level of market understanding.
There are two analytic methods for investing in the stock market, technical and fundamental analysis.
Technical analysis is based on prices and volume. Technical investors believe price and volume interpret everything in the market. They study charts for forecasting of future stock price or financial price movements.
For learning technical analysis academic knowledge isn't required, with every level of knowledge you can learn it.
Fundamental analysis is a stock valuation method that uses financial and economic analysis to predict the movement of stock prices.
To begin investing in the stock market, you must choose a stock broker. A stock broker performs transactions in financial instruments on a stock market as an agent of their clients.
If you are a beginner see: Beginners Guide

Advanced Investing Tips and Ideas:

Learn more Technical Tips:
you can learn about Fibonacci Sequences, Elliott Wave Theory, Dow Theory and other stock trading strategies.
Stock Market Risk:
What's your understanding and Perception of risk? How do you recognize risk? Is risk Quantifiable? How to manage risk?
The concept of risk and managing it is a complicated part in investing money.
Automate your Trading:
You can learn and use trading software to automate your stock investing strategy. Many investors use stock trading software to control their emotions and to enable them to focus on their stock trading strategy.
There are many other advantages of using trading software and systems, such as saving time and managing your risk.
Enjoy Making money in stocks. We hope you improve your understanding of the stock market by reading and learning these Tips and Ideas.

Four steps to riches

We wanna know that something we require for achieving to rich:

1. A profit-optimizing investment philosophy is the first step for reaching to rich, the elements of which include:

a) Trading- as opposed to investing is the first part toward rich

b) Maximization of percent per year yield on each trade is the second part to rich

c) Maximization of percent of time invested is the third part to rich

d) Minimization of the trading interval is the fourth part to rich

e) Optimization of transaction timing is the fifth part to rich

2. Fast and simple issue selection for getting to rich

3. Fast and simple transaction-timing analysis is the other steps to rich

4. Accurate and timely stock price tracking is the last steps to rich

IPIC assumes majority ownership of Aabar

The International Petroleum Investment Company (IPIC), a Government energy investment fund, has assumed majority ownership of Aabar investments a day after the firm bought a stake in one of the world's largest carmakers.
IPIC converted the second tranche of a Dh6.6 billion (US$1.79) bond it bought from Aabar in September, increasing its ownership stake from 36 per cent to 71 per cent, Aabar said in a statement.
IPIC's full conversion of the bond will boost Aabar's capital pool hours after it agreed to spend Dh9.73 billion to buy a 9.1 per cent stake in Daimler, the maker of Mercedes Benz.
"We are delighted to have the opportunity to make this investment and are excited by the commercial potential of our partnership,” Khadem al Qubaisi, the chairman of Aabar, said yesterday.
Mr. al Qubaisi is also the managing director of IPIC, and has described Aabar as a mechanism to diversify the energy fund's investments away from energy.
Aabar is now the largest shareholder in Daimler. The two firms said yesterday that they would work together to develop electric cars and new types of material used in car manufacturing, as well as establish a training centre in Abu Dhabi to prepare Emiratis for work in the car manufacturing industry.
Aabar will pay €20.27 (Dh100.88) per share. Daimler plans to issue more than 96 million new shares in the company to Aabar, representing a 10 per cent increase in total share capital.
Mercedes Benz is the 13th largest car manufacturer, and the world's largest maker of lorries.
In addition to Mercedes, Daimler owns Maybach, the ultra-luxury automobile series and Smart, a compact two-seat car that has proved popular in Europe. – The National

Aldar unveils financial framework to place company on stable and sustainable place

Aldar Properties PJSC, Abu Dhabi's leading property development, investment and management company, yesterday unveiled a series of steps designed to solidify the company's position for long-term, sustainable growth. The measures are focused on addressing current market conditions and on boosting the company's capital structure.
These include the: Recognition of an approximately Dh10.5 billion (US$2.86 billion) impairment charge relating to the value of assets; Reimbursement and sales totalling Dh10.9 billion (US$2.97 billion) for the transfer of certain infrastructure assets on Yas Island including the recently opened Ferrari World Abu Dhabi theme park, roads, bridges, marine infrastructure, and land. This deal is consistent with an element of Aldar's business model under which the company has supported the long-term objectives of the Emirate of Abu Dhabi by building and developing strategic assets and transferring them to the Government upon completion; Placement of a convertible bond worth Dh2.8 billion (US$760 million) with Mubadala Development Company. The issuance of the bond is subject to shareholder approval at an upcoming Extraordinary General Meeting; and, Sale of residential units and land for Dh5.5 billion (US$1.49 billion) to the Government of Abu Dhabi.
"The financial framework approved by the Board, including the convertible bond issue, will strengthen our capital structure and provide us with a stable and sustainable platform from which we can continue to capture commercial opportunities to deliver value to shareholders." said Ahmed Al Sayegh, Chairman of Aldar. "The impairment recognition reflects the adverse conditions that have affected the real estate market, but is an important step in allowing Aldar to achieve long-term sustainable growth." Moving forward, Aldar will build on the experience gained as a strategic developer for Abu Dhabi and focus on the creation, ownership and operation of quality residential, commercial, retail, leisure and hospitality, and educational establishments. It will continue to adopt a measured approach to development, adapting to prevailing market conditions.
Aldar's diverse portfolio includes commercial developments such as Central Market, Al Raha Beach, Yas Island (including Yas Mall and Yas Hotel), HQ, and Al Bateen Park, and government projects such as the Al Falah Emirati housing project. In addition, the company continues to deliver major infrastructure works, as well as significant projects on behalf of Abu Dhabi companies such as Mubadala. - Emirates News Agency, WAM

Abu Dhabi makes plans for huge investment

The capital's economy in recent years has made major steps to diversify its economy away from oil revenues into petrochemicals, steel and aluminium. The multi-billion dirham projects are in line with Abu Dhabi's Economic Vision 2030 that aims for sustainable growth on a solid economic basis.
According to Abu Dhabi's Urban Planning Council some US$200 billion (Dh734 billion) will have been pumped by 2013 into various infrastructure projects.
"The idea behind Abu Dhabi's economic diversification is that if oil prices go down, there will be other sources of income to compensate [for the loss in oil revenue]," Mohammad Amerah, an Abu Dhabi-based economist, told Gulf News.
However, oil revenues are still an important source of revenue for the emirate, contributing 49 per cent to the GDP. Experts say that Abu Dhabi's economic growth momentum will gain traction in 2011 from surging international oil prices and fast-improving global business confidence which will help boost the emirate's non-oil income as well.
Abu Dhabi also has identified aviation and high-end business and leisure tourism as key elements in its economic growth strategy and is judiciously investing income from oil exports to become a major regional aviation hub. – Gulf News

Kuwait Investment Authority

The Kuwait Investment Authority (KIA) is Kuwait's sovereign wealth fund (7th place SWF Institute Ranking 2010), managing body, specializing in local and foreign investment. It was founded to manage the funds of the Kuwaiti Government in light of financial surpluses after the discovery of oil.
Today, KIA manages the Kuwait General Reserve Fund, the Kuwait Future Generations Fund, as well as any other assets committed by the Ministry of Finance.
To put KIA's size into perspective, the Kuwait Future Generations Fund has 10% of annual oil revenues added to it. As of fiscal year 2004/2005, the annual contribution to the Kuwait Future Generations Fund was valued at 896.24 million Kuwaiti dinars (USD$3.07 billion).
KIA's board of directors is headed by the Minister of Finance, with other seats allocated to the Energy Minister, Governor of the Central Bank of Kuwait, Undersecretary of the Ministry of Finance, and 5 other nationals who are experts in the field, 3 of which should not hold any other public office.
KIA is estimated to hold in excess of $200 billion of assets, and is reportedly one of the largest Sovereign Wealth Funds in the World.

About Sambacapital

In accordance with the Capital Market Authority regulations, Samba Financial Group was required to separate its securities business, including but not limited to brokerage, investments, advisory, custodial and asset management business within the Kingdom, into a new separate company called Samba Capital & Investment Management Company ("Sambacapital"). Sambacapital is an independent provider of world class investment products and services and market-leading solutions for individuals, companies and government institutions. Sambacapital is staffed with a team of professionals having rich experience in the field of investment banking, asset management and portfolio management services across global markets. This team is well qualified and equipped to offer solutions to meet your specific investment needs through our wide range of products and services.

Dubai Bank introduces “Royal Banking,” underscoring commitment to 5-year strategy

New wealth management solution provides unmatched relationship management services, range of unique products and rewards
In line with its five-year strategy to develop products and services that meet the needs of elite clients, Dubai Bank announced today the launch of “Royal Banking,” a complete wealth management solution for premium customers who seek customised solutions and personalised service across all banking channels.
The introduction of “Royal Banking” follows the launch last month of “Prestige,” Dubai Bank’s new offering that combines exceptional value, convenience and consistent high-quality service delivery. To qualify as a Royal Banking customer, individuals should maintain an average monthly deposit of AED 500,000 or transfer salaries of AED 50,000 and above to Dubai Bank.
According to the CEO of Dubai Bank, Mr. Giel-Jan Van Der Tol, the launch of these two new boutique solutions – in a span of just one month – demonstrates the bank’s commitment to rapidly executing its long-term strategy to position Dubai Bank as the bank of choice for premium clients.
“Following the recent launch of ‘Prestige,’ we are extremely pleased to introduce ‘Royal Banking,’ which provides bespoke solutions and unique products that meet the individual financial goals of our most elite clients,” said Mr. Van Der Tol.
“As the second step in our ongoing five-year strategy to establish a leadership position in the UAE’s premium banking segment,” he said, “the introduction of ‘Royal Banking’ highlights our focus on providing an unmatched client experience.”
Dubai Bank is aiming to increase its wealth management portfolio by providing bespoke offerings and services. The launch of “Royal Banking” – as well as the introduction of “Prestige” – demonstrates how the bank will elevate its offering to a new level of service excellence and product innovation.
Each “Royal Banking” customer benefits from access to dedicated team of professionals and other benefits, such as concierge services to provide maximum comfort, free international ATM withdrawals and a host of other lifestyle rewards.
Among the products available to these elite customers is the Royal Banking Covered Card, which offers zero per cent profit for first three months. Royal Banking clients also benefit from a wide range of discounts at high end retail, dining, hospitality and educational facilities across the UAE.
“We are convinced that ‘Royal Banking’ represents a unique, 360-degree solution that will meet the evolving needs of our clients, and we intend to aggressively market this outstanding service,” said Mr. Waleed Saeed Al Awadi, Deputy Chief Marketing Officer of Dubai Bank. “The partnership approach lies at the heart of Dubai Bank and the ‘Royal Banking’ offering – ensuring that we help our clients realize their financial goals today and in the future.”
The “Royal Banking” offering has been designed to provide customers with lifestyle solutions to suit their needs, as this product targets only premium customers who are looking for an executive class of services combined with world-class investment advisory and wealth management services. Benefits include succession planning and will writing, as well as investments in Shari’a-compliant products across traditional and alternative asset classes such as funds, sukuks and equities.
“By launching “Royal Banking” offering, Dubai Bank now is able to develop truly individual asset allocation and wealth preservation strategies,” add by Mr. Al Awadi. “This launch is a significant step in our ongoing commitment to innovation, which is in line with our long-term strategy to develop products and services that meet the needs of our premium customer’s.”

Winner drawn to name of Kunooz Savings Account

 Father of twins wins one million dirhams with Dubai Bank AccountA father of twins is one million dirhams richer after striking it rich with his Dubai Bank Kunooz Savings Account. Mazahir Moiz, a Dubai-based entrepreneur originally from India, had the perfect start to the year when he learned that he was the January winner of the million dirham Kunooz cash prize draw.
Moiz, whose family has been in Dubai for 37 years, invested in his Kunooz account two and a half years ago. While searching the market for a Shari’a-compliant investment, he was impressed by the product features of the Kunooz account. However, it was the account’s name, Kunooz, which means treasures in English, which first got his attention.
On his winning, Moiz said: “The name of the account was the first thing that struck me. When I looked further, I saw the account had all my required features. Since I opened the account, I have been very happy with the service of Dubai Bank. I expect the relationship will only get stronger now that I have won this prize.”
When asked what he planned to do with his winnings, Moiz replied: “I would like to use part of the money to help community projects in Dubai and India. I will use the remainder of the money to secure the future of my twin children.”
“Once again, the Kunooz Savings Account has contributed to fulfilling a family’s dream. Customers continue to be attracted to the Kunooz Account given its savings potential and the opportunity to generate optimal returns,” said Tariq Al Farsi, Head of Branches at Dubai Bank.
Under the Kunooz monthly cash prize promotion, each multiple of AED 1,000 deposited in the Kunooz Account qualifies the customer for multiple entries into the draw for daily cash prizes of AED 30,000. For every multiple of AED 5,000 deposited, account holders become eligible for entry into the monthly grand prize draw of AED 1 million. The programme also offers participants the possibility to win more than once.

Dubai Bank expands network with new branch at Al Twar

• Expansion in line with ongoing focus on specialised banking solutions for government-related entities
• New branch visited by Dubai Municipality Director General Eng. Hussein Nasser Lootah
• Bank’s UAE network reaches 24 branches; fourth branch situated in government premises
Dubai Bank today announced the opening of a new branch at Al Twar, located within the Dubai Municipality premises, to give residents of the area access to the best in Shari’a-compliant banking services. The branch expansion is in line with the bank’s ongoing focus on developing exclusive and specialised solutions for government-related entities.
Al Twar becomes the fourth branch of Dubai Bank to be situated within Dubai government premises. Previously, the bank had three branches located in the three centres of Department of Economic Development, providing dedicated banking and payment infrastructure to the department and its customers.
Eng. Hussein Nasser Lootah, Director General of Dubai Municipality, visited Dubai Bank to get a general overview of the bank’s business operations, and held discussions with the bank’s staff to gain an in-depth understanding of its services and product offerings. Accompanying Mr. Lootah were: Mr. Tariq Al Farsi, Head of Branches; Mr. Zahir Khurshid, Acting Head of Retail; Mr. Fuad Alhadi, Head of Business Development and Government Relationship; Mr. Masoud Al Ansari, Zone Manager from Dubai bank.
The opening of the latest branch expands the bank’s UAE network to 24 branches with Dubai being served by 13 branches.
“Concurrent with its policy of providing customers with convenient and local access to banking, Dubai Bank has progressively expanded its network within the UAE,” said Tariq Al Farsi, Head of Branches, Dubai Bank. “The latest branch not only provides state-of-the-art Shari’a-compliant banking solutions to local residents and businesses, it also enables us to continue our focus on developing specialised banking services related to government entities. Continuing this focus, Dubai Bank will open two new branches at Jumeirah and Mirdiff, respectively, later this year.  Through these branches, we continue our pursuit of enriching the banking experience for our customers with a prudent Islamic banking approach.
Al Farsi added: “With the new branch opening in Al Twar, customers who live and work around the area will find a convenient location to conduct all their banking operations under one roof. Additionally, we have partnered with Dubai Municipality to establish an efficient fee collection system, including the provision of over-the-counter payment facility for certain Municipality-related services.
“Given the increasing demand for innovative and cutting-edge Shari’a-compliant banking solutions from our rapidly growing customer base, we will look forward to add more branches in strategic locations to deliver even more personalized level of service at all our touch points.”

Dubai Bank Kunooz account proves 7 times lucky for Emarati customer

Wins million dirhams in August, following 10,000 dirhams each in six previous draws
For Rashid Khalifa, an Emarati government employee in his forties, August has proved to be an extremely special month - when he was declared the winner of Dubai Bank’s million dirham draw as a valued Kunooz account holder.
Having won 10,000 dirhams each in six previous draws, Rashid was hoping that he would be lucky one more time, this hope proved well founded when he received a call from Dubai Bank that he had won the million dirham prize.
On this occasion, Rashid, a father of four children who has been a Kunooz Account holder for the last ten months, said, “This is a wonderful moment for me and I am going to use this windfall to invest in my children’s future. I have reinvested the entire million dirhams back into Kunooz as it is a flexible and Shari’a compliant savings account with the promise of winning substantial prizes through daily and monthly draws.”
Tariq Al Farsi, Head of Branches at Dubai Bank, who presented the winning cheque to Mr. Khalifa, said, “Month after month, winners like Mr. Rashid have been the recipients of a million dirhams, transforming their lives forever. The appeal of Kunooz, with its savings potential and the opportunity to generate optimal returns, has grown exponentially among customers across the UAE. The added benefit of channeling their savings in a prudent and Shari’a-compliant manner has also proved to be a big draw for customers.”
Under the Kunooz monthly cash prize promotion, each multiple of AED 1,000 deposited in the Kunooz Account qualifies the customer for multiple entries into the draw for daily cash prizes of AED 30,000. For every multiple of AED 5,000 deposited, account holders become eligible for entry into the monthly grand prize draw of AED 1 million. The programme also offers participants the possibility to win more than once.

ADFD Funds DH 367.3 Million High Speed Railway Project in Morocco

Abu Dhabi - In line with its drive to support development process in the developing countries, the Abu Dhabi Fund for DevelopmentAbu Dhabi Fund for DevelopmentAbu Dhabi Fund for Development (ADFDADFD) attended a ceremony to celebrate the commencement of construction works in the high speed railway project (TGV) connecting the two cities of Casablanca and Tangier in the Kingdom of Morocco.

Abu Dhabi - In line with its drive to support development process in the developing countries, the Abu Dhabi Fund for DevelopmentAbu Dhabi Fund for DevelopmentAbu Dhabi Fund for Development (ADFDADFD) attended a ceremony to celebrate the commencement of construction works in the high speed railway project (TGV) connecting the two cities of Casablanca and Tangier in the Kingdom of Morocco.
In the ceremony, which was held in Tangier and attended by King Mohammed VI of Morocco, two loan and fund guarantee agreements, both estimated at around Dh367.3 million (about US$ 100 million), were also inked.
The loan agreement was signed by Mohammed Saif Al Suwaidi, Acting Director General of ADFDADFD, and Mohammed Rabie' AL Khalie', Director General of the National Railway Bureau in Morocco. Meanwhile, Al Suwaidi and Salaheddin Mezouar, the Moroccan Minister of Economy and Finance, signed the guarantee agreement, according to a report of the UAE news agency 'WAM.'

S. Korean firm wins Duqm airport work

MUSCAT: South Korea's Hanjin Heavy Industries & Construction Company won a $115-million contract to build a runway and other facilities linked to the development of a green field airport at Duqm in the Al Wusta region.

By A. E. James
MUSCAT: South Korea's Hanjin Heavy Industries & Construction Company won a $115-million contract to build a runway and other facilities linked to the development of a green field airport at Duqm in the Al Wusta region.

Hanjin will build the main airfield infrastructure for the airport over the next 22 months. The project work, which is part of the phase II package, include construction of a four-kilometre-long runway designed to code-F standards, two taxiways, parking apron for passenger aircraft (including an apron taxi line), and facilities for two passenger boarding bridges.

Further, the contractor will install a sophisticated air navigation and meteorology system, airfield ground lighting system, fuel farm, and apron fuel hydrant system, among other utilities.

The South Korean construction major won the contract amid stiff competition from other contracting giants, including Athens-based Consolidated Contractors Company (CCC), India's Larsen Toubro and Turkey's Makyol.

Qatar wealth fund to raise capital stake in Porsche

Qatar is to increase its capital in Porsche and has given its seal of approval to the luxury carmaker’s merger with fellow German manufacturer Volkswagen.

Qatar is to increase its capital in Porsche and has given its seal of approval to the luxury carmaker’s merger with fellow German manufacturer Volkswagen.