Tuesday 26 May 2015

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NEW FIVE-YEAR PLAN
Almarai eyes $5.6bn capital expenditure

The board of Saudi Arabia's Almarai has approved a capital investment plan which will reach SR21 billion ($5.6 billion) in the next five years, it said on Tuesday.

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MERGER EYES $55bn REVENUE
Samsung's Cheil to acquire affiliate Samsung C&T

Samsung Group's holding company Cheil Industries Inc said on Tuesday that it will acquire affiliate Samsung C&T Corp by September, the latest step in the restructuring of South Korea's biggest conglomerate.

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POWER, WATER NEXT
Bahrain government plans more subsidy cuts

Electricity and water subsidies will be the next to be axed as part of the Bahrain government's cost-cutting measures, it has emerged.

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3

ANALYSIS
Can UAE reach ambitious 2021 health goals?

The United Arab Emirates will need a steep increase of 50 per cent in the number of doctors from 2012 levels in order to meet its ambitious 2021 health targets, a report said.

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ANALYSIS
Life sciences challenge tech in global innovation

The life sciences industry is increasingly taking over from the tech sector in driving global innovation, according to a Thomson Reuters analysis of global patents.

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NEWS IN PICTURES
Pretty in prints

Say hello to sunshine with Marks & Spencer’s trendy summer 2015 collection, which includes from pretty prints to sleek functional modern designs. The collection is now available in Marks & Spencer stores across GCC.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

AlRajhi in deal to develop key Saudi project

AlRajhi United, a leading investment company in Saudi Arabia, said it has sealed a land acquisition deal in capital Riyadh for the development of a distinguished project in the kingdom.

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Energy, Oil & Gas

Mitsubishi, Tepco win $2.5bn Qatar gas plant bid

Japan's Mitsubishi Corp and Tokyo Electric Power Co (Tepco) said on Monday they had won a contract to build a 300 billion yen ($2.5 billion) gas-fired power plant in Qatar, as Japan steps up investment in infrastructure in Asia.

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Finance & Capital Market

Key Islamic finance training launched in Bahrain

The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, has launched its first executive programme on strategy and leadership for Islamic financial institutions.

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Analysis, Interviews, Opinions

Abu Dhabi Islamic Bank eyes expats as industry growth slows

Abu Dhabi Islamic Bank will focus on winning more business in the United Arab Emirates' expatriate community this year as growth in the national banking sector slows, chief executive Tirad Mahmoud said.

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Industry, Logistics & Shipping

Conares to boost production capacity to 1m tonnes

Conares, the second largest private steel manufacturer in the region, has announced plans to increase its manufacturing capacity to one million tonnes at its facility in Jebel Ali Free Zone (Jafza).

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IT & Telecommunications

Global experts for Dubai smart data summit

A line-up of local and international speakers and panellists discussed the power of smart data and analytics on the inaugural day of the second Annual Smart Data Summit in Dubai, UAE today (May 25).

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Lifestyle

IWC, Asia Jewellers showcase Portofino collection in Bahrain

Swiss luxury watch manufacturer IWC Schaffhausen and its partner in Bahrain, Asia Jewellers, are jointly hosting an exhibition of the Portofino Midsize collection in Bahrain’s Moda Mall.

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Motoring

Kia’s all-new Sorento arrives in Middle East

Kia Middle East and Africa has announced the arrival of the third-generation Kia Sorento, an SUV offering a unique blend of style, practicality and technology, to the region.

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Health & Environment

UAE readies to launch air quality network

UAE’s Ministry of Environment and Water has signed an agreement with several government agencies for the launch of the UAE Air Quality Network, which aims to raise the level of air quality by up to 90 per cent by 2021.

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Media & Promotion

France wins big; Italy loses out in Cannes

French film "Dheepan" won the top Palme d'Or prize for director Jacques Audiard at the 68th Cannes International Film Festival on Sunday, crowning a good night for French cinema but a bad one for Italy and actress Cate Blanchett.

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Miscellaneous

Alternatives to subsidy cuts urged in Bahrain

Alternatives to subsidy cuts must be found as Bahrain seeks to rein in public spending, a joint meeting of MPs and Shura Council members announced yesterday (May 24).

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