Inter-bank rates in the UAE increased to 3.25% compared to 2.66% during 1Q08 as loans reached AED893.9 billion in 1H08 rising by 23.8% while deposits surged 16.3% to AED837.7 billion. (Al Khaleej)

The Abu Dhabi National Energy Company (TAQA) sold out its 20% stake in Shuweihat CMS International Power Company (SCIPCO) and a 50% interest in Shuweihat O&M Limited Partnership (SOMLP), to Sumitomo Corporation of Japan. (Khaleej Times)

Dubai Financial Market announced that the value of shares bought by foreign investors during last week reached AED1.040 billion representing 40.24% of the total value of stocks traded during the period. The value of stocks sold by foreign investors during the same period reached AED1.377 billion comprising 53.26% of the total value of stocks traded during the period. (Khaleej Times)

SALAMA announced it has tied up with BNP Paribas Investment Partners, to offer BNP Paribas’s flagship Islamic Fund, the Global Equity Optimiser, with investor returns linked to Shariah compliant global equity markets. (DFM)

United Arab Bank is set to hold its BOD meeting on September 10th. (ADX)