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NEW TURNAROUND PLAN
Jet Airways, Etihad map joint strategies for India
Jet Airways, India’s premier international airline, and Etihad Airways, the national airline of the UAE, have outlined plans to reinforce their long-term commitment to India’s aviation industry.
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SPOTLIGHT
Mideast firms face $91bn refinancing needs
Middle East investment grade companies are facing refinancing needs of about $91 billion from bank and bond debt due to mature over the next four years, according to a recent report.
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FOCUS ON CORE BUSINESS
Savola in talks to sell packaging unit to Takween
Saudi Arabia's Savola Group has signed a non-binding agreement to sell its packaging business to Takween Advanced Industries, as it moves to focus on its core sectors of food and retailing, it said on Wednesday.
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BREAKINGVIEWS
Saudi opening will put Mideast on global investor map
The opening of Saudi Arabia's $530 billion stock market to foreigners will finally put the Middle East on the investor map.
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MIDEAST MONEY
Cash-flush Gulf banks grab top spots in loan market
Cash-rich Gulf banks are grabbing a growing share of the region's loan market as they cut fees and ease terms, elbowing aside some of the foreign banks which used to dominate lending.
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IMAGE OF THE DAY
Fishing in troubled waters
Residents on a boat catch fish near partially submerged trees flooded by an overflowing river after Typhoon Rammasun hit Nanning, Guangxi Zhuang Autonomous Region of China.
Top Trade News
 | Industry Sectors |
300 Damac units sold out in one night
Damac Properties’ ‘Akoya by Damac’ project, which was recently launched, sold out during a suhoor which took place in six venues across the UAE last night (July 21).
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Aldar-Chalhoub deal to create largest department store
Aldar Properties, a leading property development, investment and management company in Abu Dhabi, has signed a deal with Chalhoub Group to create the region’s largest department store experience in Yas Mall.
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RAK Petroleum posts $15.81m net profit
RAK Petroleum Public Company, the energy investment company, has announced a net profit of Dh58.1 million ($15.81 million) for the year ended December 31, 2013, marking a fifth consecutive year of profitability.
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Saudi Arabia to open $530bn bourse to foreigners
Saudi Arabia's cabinet gave permission to the financial regulator to open the Arab World's biggest stock market to direct investment by foreign financial institutions.
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Cash-flush Gulf banks grab top spots in loan market
Cash-rich Gulf banks are grabbing a growing share of the region's loan market as they cut fees and ease terms, elbowing aside some of the foreign banks which used to dominate lending.
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Savola CEO Mannaa to resign
Saudi Arabian food company Savola Group said on Tuesday its chief executive officer Abdulraouf Mannaa is to step down for personal reasons.
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Emirates starts first A380 service to India
Dubai-based Emirates airline has commenced its first scheduled Airbus A380 service to India with a daily flight between the emirate and Mumbai.
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Mideast firms warned over new cyber threats
Cyber criminals in Nigeria have evolved common malware campaigns to infiltrate businesses in the Middle East that have not previously been their primary targets, according to a recent report.
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Kuwait revokes citizenship of 2 opposition figures
The Kuwaiti government has revoked the citizenship of two opposition figures and some of their relatives, the state news agency reported, in a move that could deepen a political crisis in the country.
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Nissan launches autonomous vehicles timeline
Japanese automaker Nissan Motor has launched a timetable for the latest vehicle automation technologies and is aimed at accelerating consumer adoption of Autonomous Drive systems.
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Mers virus detected in air samples from Saudi camel barn
Saudi scientists have found gene fragments of the deadly Middle East Respiratory Syndrome (Mers) virus in air from a barn housing an infected camel and say this suggests the disease may be transmitted through the air.
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OSN gets buyout offer from unnamed bidder
Middle Eastern pay-television operator OSN is the subject of a full takeover bid from an unnamed buyer, its parent company said on Sunday, a deal that could prove to be one of the largest acquisitions of a regional business in recent years.
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HBMSU mulls exchange programs with Saudi varsities
The Dubai-based Hamdan Bin Mohammed Smart University (HBMSU) is considering launching academic and learner exchange programs with Saudi universities.
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Jadwa’s fund sells Gulf Union Foods stake
Jadwa Investment, a Saudi Arabian private equity house and investment bank, said its Food and Beverage Opportunity Fund has sold its 30 per cent stake in Gulf Union Foods Company, to Olayan Financing Company.
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