Saturday 23 May 2015

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21 KILLED, 90 WOUNDED
Islamic State claims Saudi mosque bombing

A suicide bomber killed 21 worshippers on Friday in a packed mosque in eastern Saudi Arabia, residents and the health minister said, the first attack in the kingdom to be claimed by Islamic State militants.

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1

WORRY OVER ME WAR IMPACT
Brent crude oil slips below $66 before long US weekend

Oil prices fell on Friday as worries over the impact of war in the Middle East on crude supplies were outweighed by reports of profit-taking ahead of a long weekend.

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2

FUND EXPANSION PROJECTS
Orpic borrows $910m from local, Gulf banks

State-owned Oman Oil Refineries and Petroleum Industries Co (Orpic) has taken out a RO350 million ($910 million), ten-year loan from local and regional banks, part of which will be used to fund expansion projects, the company said.

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3

SPECIAL REPORT
Saudi Arabia rewrites oil game with refining might

Saudi Arabia's rapid transition into one of the world's largest oil refiners has added an extra dimension to the oil exporter's role as the driver of Opec (Organization of the Petroleum Exporting Countries) policy, say experts.

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4

ANALYSIS
US drivers yield 'swing' oil demand crown to Saudis

As the United States raced over the past five years toward becoming a global petroleum powerhouse, the world's biggest oil exporter Saudi Arabia quietly seized a market milestone from America: the largest source of peak summer demand.

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5

NEWS IN PICTURES
Oman's events hub

Oman Convention & Exhibition Centre (OCEC), the sultanate’s landmark business events hub, has revealed its latest 3D structures and aerial drone images in the lead up to its opening in 2016, at an event in Frankfurt, Germany.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Firms sign building system testing lab accord in Bahrain

Bahrain-based United Enterprises Group and Facade Design and Services have signed an deal to provide and operate Bahrain's first and only building system testing laboratory and on-site testing facility centre for building materials - UFDS.

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Retail & Wholesale

Marka launches Cristiano Ronaldo’s footwear collection

Marka, the first public joint stock company focused on retail sector in the UAE, has announced the launch of ‘CR7 Footwear,’ the new exclusive footwear collection from Portugal and Real Madrid top footballer Cristiano Ronaldo.

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Energy, Oil & Gas

PowerCell to supply fuel cell system for low-energy house

The Nordic leading fuel cell company PowerCell Sweden has won an order from H-O Enterprise to deliver a fuel cell system for a low-energy house in Gothenburg, Sweden.

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Finance & Capital Market

Taqa to raise $3.5bn five-year loan

Abu Dhabi National Energy Co (Taqa) is looking to raise a $3.5 billion loan as it seeks to consolidate a number of existing debts into one facility with a lower rate of interest, three sources aware of the matter told Reuters.

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Analysis, Interviews, Opinions

Small food makers on fast path to US store shelves

Small US food manufacturers once toiled for decades to develop a critical mass of fans. Now, an increasing number of entrepreneurs are going from garage to grocery store in fewer than five years thanks to an erosion of barriers to entry.

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Industry, Logistics & Shipping

Emerging market firms to spur growth of supply chains

Emerging-market companies seeking growth further abroad will drive a steep increase in the size and complexity of their supply chains, as firms aim to control costs and cater to rising middle class populations, according to a new report.

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Travel, Tourism & Hospitality

US, European carriers’ market expands despite claims

Despite claims by the Big Three US airlines, the market for air travel from the US to the India has expanded significantly from 2009 to 2014 with US airlines and their European partners actually flying 223,000 more passengers.

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IT & Telecommunications

Saudi regulator seeks to prosecute 9 Mobily officials

Saudi Arabia's market regulator has recommended nine current or former officials at Saudi Arabian telecom operator Mobily be prosecuted for violations that include insider trading, a local financial news website reported on Thursday.

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Lifestyle

Kens, Studio E offer hand-painted wallpaper

Kens & Company, a provider of quality finishes and Studio E Hand Painted Wallpaper have partnered bring to the Gulf their collection of authentic Italian polished plaster and artisan metal-leaf as wallpaper.

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Motoring

Crackdown on illegal taxi drivers in Bahrain

Bahrain is cracking down hard on illegal taxi drivers, having arrested as many as 64 Asians, Bahrainis and Gulf nationals who run illegal taxis in March, April and May.

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Media & Promotion
Education, HR & Training

Saudi university, Pearson to provide e-learning technology

The Preparatory Year Deanship at Um Al Qura University (PYP-UQU) has partnered with leading learning company Pearson to provide students with online learning and assessment technology.

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Miscellaneous

Yemen struggles with food shortages as shipments stay slow

A trickle of aid, medicine and commercial food cargoes is reaching Yemen yet the process remains slow as more ships await clearance to discharge at ports and logistical chains buckle due to fuel shortages and war.

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