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Wednesday, 19 March 2008

	Dubai to launch low-cost airline New carrier part of Emirates Group, will service destinations four and a half hours away, chairman says.
Fed cuts key interest rate by 0.75% US Federal Reserve makes smaller than expected cut in a bid to ward off financial meltdown. Markets post mixed results ahead of Fed cut
Labourers riot over pay UPDATE 1: Workers at Sharjah labour camp turn over and set fire to vehicles, eyewitnesses say.
UAE promises commercial fraud law Legislation will boost economic growth and raise standard of living, says FNC.
Dubai to dim lights for Earth Hour City to plunge into darkness for one hour later this month as part of global climate change initiative.

Banking & Finance »
	Card fraud gang jailed Six-man gang goes down for three years; police arrest second gang with 1,700 fake ATM cards.
EFG in merger talks with Lebanese lender Bank Audi says talks in early stages, but merger to create significant commercial and financial synergies.

Politics & Economics »
Dubai to invest $250mn in Mauritius State-owned Dubai Group to invest in country's financial, real estate and tourism sectors.

Transportation »
	Transport firms protest diesel price hikes Companies demand gov't action over price increases of up to 175% in three years.

Technology »
	France Telecom in mix for Egypt telecom licence European telco joins five Arab companies eyeing second fixed-line licence.
Mobily wins approval for $400mn Bayanat buy Saudi regulator gives green light to telecom to purchase internet service provider.

Sport »
	Todt leaves Ferrari post Frenchman steps down to become consultant just a few months after moving upstairs from sporting director role.
Gebreselassie to shun Olympic marathon Asthmatic world record holder says pollution and humidity would make race 'suicide.'

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Labourers riot over pay; Dubai to launch low-cost airline; Card fraud gang jailed