Dubai - Amid the global financial crisis, Dubai ruler Sheikh Mohamed bin Rashid al-Maktoum ordered a further 19 billion dollars to be pumped into the national banking sector to boost liquidity, the Emirates news agency WAM reported on Tuesday.

The decision raised the amount of money that has been pumped into the banking sector to 32.7 billion dollars over the last month.

The UAE Central bank, along with the Ministry of Finance, are to inject the money into the national banking sector.

Biocon Ltd, India's leading biotechnology enterprise has notified that NeoBiocon and Abraxis BioScience have launched Arbaxan (paclitaxel protein-bound particles for injectable suspension) (albumin-bound) in the UAE market for the treatment of breast cancer.

NeoBiocon is a joint venture between Dr. B R Shetty, MD & CEO of Abu Dhabi based Company Neopharma and Kiran Mazumdar-Shaw, Chairman & MD of India's biotechnology major Biocon Ltd. 

The King Khan has announced his new venture, a real estate development that will bear his signature style and will come up at Dana Island off the Ras Al Khaimah in the United Arab Emirates (UAE). The property to be named as Shah Rukh Khan Boulevard, will cost around 8-billion dirham ($2.2-billion).

The real estate project encompassing three million square feet will have one and two bedroom apartments, a studio, underwater discotheque, a public square on the beach and a theatre. It will be designed by a renowned architect, Toni Ashai.

UAE based Emirates Telecommunications Corp (Etisalat), acquired a 45% stake in Swan Telecom, the Mumbai-based Dynamix Balwas Group company for $900 million. It would ease the entry of the foreign telecom firm in the Indian telecom sector. Etisalat had already paid the required telecom license fee. Swan had also paid fees to operate in 13 telecom circles of India. However, total amount of $400 million as license fee, is required to cover total 22 telecom sectors of India.

SRK, the bollywood king, is trying his hands in property development in UAE. His first Project is called Shah Rukh Khan's Boulevard and is situated on the island of Al Dana in Ras AL Khaimah. The island covers an area of 1700 sq km and is among the seven Emirates that form the UAE along the border of Oman. The development will consist of one and two bedroom apartments, designed by well-known architect Toni Ashai. 

The announcement of the project is going to be made at the real estate expo City Scape [in Dubai] to be held from October 6 to 9.

Kuwait - A major fire that broke out on Wednesday morning in an oil refinery in Kuwait is now under contro