Sunday 7 February 2016

0

EMIRATE ON SPENDING SPREE
Qatar to award $22bn World Cup 2022 contracts

Qatar is set to award more than $22 billion worth of new contracts in 2016 as it maintains its spending spree in advance of the Fifa 2022 World Cup, said an expert ahead of a key industry event in Doha next month.

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1

BIG DEMAND FROM IRAN
Dubai Aerospace sees 30-35 aircraft deals in 2016

Dubai Aerospace Enterprise (DAE), one of the few Gulf aircraft leasing firms, expects to add 30-35 planes to its current portfolio of 97 with significant demand seen coming from Iran, the company's chief executive said.

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2

FIRM OPTIMISTIC ON ECONOMY
Lulu to open seven more hypermarkets in Oman

Middle East's retail major Lulu Group has announced plans to open seven more hypermarkets in Oman in the next two years.

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3

SPOTLIGHT
UAE e-commerce to quadruple to $10bn by 2018

GCC banks are aiming to expand digital and mobile customer offerings, even as the UAE’s e-commerce market is set to quadruple to $10 billion by 2018, according to Bank Audi.

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4

SPOTLIGHT
Wars, cheap oil hurting Middle East growth

The World Bank said that 2015 economic growth in the Middle East and North Africa likely came to just 2.6 per cent, falling short of a 2.8 per cent forecast in October as war, terrorism and cheap oil took their toll.

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5

NEWS IN PICTURES
Keen Kate

Catherine, The Duchess of Cambridge arrives to the St Clement Danes, the Royal Air Force church in London, Britain on February 7.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

KAEC inks $65m infrastructure development contract

King Abdullah Economic City (KAEC), a special economic zone on Saudi Arabia's Red Sea coast, has awarded a SR244-million ($65 million) contract for infrastructure development and landscaping at its residential community Al Talah Gardens.

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Finance & Capital Market

Gulf Finance opens new office In Jeddah

Gulf Finance Saudi Arabia, a provider of Shariah-compliant lease and installment facilities to small businesses, has opened its new head office and branch in Jeddah, marking three years of operations in the Kingdom.

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Analysis, Interviews, Opinions

UAE e-commerce to quadruple to $10bn by 2018

GCC banks are aiming to expand digital and mobile customer offerings, even as the UAE’s e-commerce market is set to quadruple to $10 billion by 2018, according to Bank Audi.

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Industry, Logistics & Shipping

India's Electrosteel launches regional hub in Bahrain

India-based Electrosteel Castings, the world’s third largest producer of ductile iron (DI) pipes and ancillary products, has inaugurated its new BD2.5 million ($6.6 million) warehouse in Bahrain, said a report.

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Travel, Tourism & Hospitality

Elaf Group plans budget hotels in India

Saudi-based Elaf Group is looking to expand its services in India with plans to open budget hotels in India to cater to the Indian Haj and Umrah pilgrimage sector, said a report.

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IT & Telecommunications

Bahrain to honour ICT firms at top industry fair

The iTECH 2016 Awards, which look to celebrate regional and international ICT (information and communications technology) sector achievements, will be given at the Gulf Industry Fair which opens next week in Bahrain.

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Lifestyle

Diamond jewellery ‘claims 30pc of GCC luxury market’

Hard luxury represents as much as 30 per cent of the GCC luxury goods market, an industry expert said, adding that the EUR2.3 billion ($2.56 billion) market performed better than other luxury goods categories in 2015.

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Health & Environment

Mega business deals signed during ADSW

Hundreds of millions of US dollars in sustainability-related strategic business deals and partnerships were struck across clean energy, water, and waste at Abu Dhabi Sustainability Week (ADSW) 2016, organizers said.

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Media & Promotion
Education, HR & Training

GESS Dubai ushers in space age for schools

GESS Dubai 2016, the region’s premier education exhibition and conference, is hosting an exciting interactive astronomy showcase next month with several new features including gamification app to help make learning more fun and engaging.

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Miscellaneous

‘Dinner in the Sky’ comes to Bahrain

Adventurous diners in Bahrain will be hoisted 50 metres in the air as part of ‘Dinner in the Sky’, a Belgium-based concept that has taken place across the world, next month.

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