Tuesday 30 June 2015

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JOINT VENTURE DEAL
Mubadala buys into Trafigura's Spanish mines

Trading house Trafigura has sold half its stake in three Spanish copper and zinc mines to Abu Dhabi investment company Mubadala as part of a joint venture they are setting up to invest in base metals mining, the companies said.

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1

LONG-TERM AGREEMENT
Alstom to develop Saudi electricity infrastructure

Alstom Grid, a global leader in the world of power generation, power transmission, has signed a long-term deal with National Grid SA of Saudi Arabia to develop the electricity infrastructure in the kingdom.

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2

KEY COASTLINE DEVELOPMENT
Nakheel awards Dubai waterfront city contract

Master-developer Nakheel has appointed marine engineering contractor Van Oord to deliver 23.5 km of coastline and breakwaters at Deira Islands, its latest 15.3-sq-km waterfront city in Dubai, UAE.

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3

SPECIAL REPORT
Children in conflict zones need $2.3bn to go to school

The 34 million children who are out of school in conflict-affected countries need $2.3 billion to get them all schooling, ten times the amount education currently receives in aid, the United Nations' education agency Unesco said on Monday.

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4

SPOTLIGHT
Big hurdles to Iran nuclear deal as deadline looms

As a June 30 deadline for a final nuclear deal approaches, major differences remain between Iran and world powers on several key issues including sanctions relief and U.N. access to Iranian sites, a senior Western diplomat said on Friday.

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5

IMAGE OF THE DAY
On top of the world

The Eastern Mangroves Suites by Jannah in Abu Dhabi, UAE, was announced the winner in the category of the Best Hotel Apartment in the Middle East Awards.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Dubai developer Limitless to pay $564m to creditors

Dubai real estate developer Limitless will repay Dh2.07 billion ($564 million) to bank and trade creditors and has secured the assent of almost 90 per cent of banks to extend its remaining debt to December 2018, it said on Monday.

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Retail & Wholesale

Samsung partners with Jurassic World

Samsung Electronics Company, a leading multinational electronics company, has signed a global marketing partnership deal with Jurassic World, the latest installment of Steven Spielberg’s Jurassic Park series.

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Energy, Oil & Gas

Alstom in deal to boost Saudi power infrastructure

Alstom Grid, a global leader in the world of power generation, power transmission, has signed a long-term deal with National Grid SA of Saudi Arabia to develop the electricity infrastructure in the kingdom.

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Finance & Capital Market

ADIB investors back rights issue, sukuk plans

Shareholders of Abu Dhabi Islamic Bank (ADIB) have approved plans to raise Dh504 million ($137.22 million) of share capital through a rights issue, it said in a statement.

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Analysis, Interviews, Opinions

GCC oil firms ‘must act now to beat price volatility’

Exploration & production (E&P) firms in the GCC will need to transform by making bold, organization-wide moves and redefine the way they interact with service providers to survive the recent drop in oil prices, an industry expert said.

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Industry, Logistics & Shipping

Mubadala buys into Trafigura's Spanish mines

Trading house Trafigura has sold half its stake in three Spanish copper and zinc mines to Abu Dhabi investment company Mubadala as part of a joint venture they are setting up to invest in base metals mining, the companies said.

More…
Travel, Tourism & Hospitality

Dubai’s theme parks to draw $5bn in revenue

Theme parks in Dubai, UAE, are set to generate close to $5 billion in revenues by 2020 as the country aims to welcome close to 25 million tourists during the period, said an expert.

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Lifestyle

Watch Gallery opens new store in Abu Dhabi

Luxury watch retailer Watch Gallery, owned by the UAE-based Paris Gallery Group of Companies, has opened a new store at Yas Mall in Abu Dhabi as part of its regional expansion plans.

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Motoring

Land Rover unveils special Ramadan offers

Euro Motors, the exclusive dealer of Jaguar and Land Rover in Bahrain, has launched its Ramadan campaign on selective Land Rover models.

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Media & Promotion

Icflix partners with TE Data to offer content in Egypt

Icflix, a leading internet streaming service in the Middle East and North Africa (Mena) region, has partnered with TE Data to enable customers in Egypt to watch movies, TV shows and documentaries on any internet-enabled device.

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Education, HR & Training
Miscellaneous

Israel, Palestinians to investigate Gaza warcrimes

Israel and the Palestinians promised on Monday to investigate alleged war crimes committed by their forces during the 2014 Gaza war, amid growing calls for an end to impunity on both sides.

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