Monday 21 April 2014

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COST ESCALATION, DELAYS
Qatar cuts number of World Cup stadiums to 8

Qatar has reduced the number of stadiums it plans to build for the 2022 soccer World Cup by a third, according to a Bloomberg report.

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1

SALES TO START IN MAY
Aldar launches new $1.4bn Abu Dhabi projects

Real estate developer Aldar Properties has launched three new developments in Abu Dhabi worth 5 billion dirhams ($1.4 billion), the company said on Monday.

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2

VOTE ON MAY 26-27
Sisi to face leftist in run for Egyptian presidency

The former army general who toppled Egypt's first freely elected president will face a leftist politician in next month's presidential election, as they were the only candidates to enter, the committee organising the vote said.

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3

TECHNOLOGY
Vision of networked society 'will be realised by 2020'

The vision of the Networked Society will be realised by 2020 as more than 50 billion connected devices, of which 15 billion will be video-enabled, will rely on mobile IP (internet protocol) networks dominated by video, says Ericsson.

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4

ANALYSIS
Global sukuk market 'lacks integration'

The sukuk market operates as a collection of local markets because of lack of integration and the Malaysian market remains the strongest by far, according to a Standard & Poor's Ratings Services report.

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5

IMAGE OF THE DAY
Cherry blossom

Kelvin Villaroel holds up his son Isaac for a photo in front of a cherry tree in full blossom in Central Park in New York.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Aldar launches new $1.4bn Abu Dhabi projects

Real estate developer Aldar Properties has launched three new developments in Abu Dhabi worth 5 billion dirhams ($1.4 billion), the company said on Monday.

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Retail & Wholesale

Alhokair Q4 net profit climbs 40pc

Fawaz Abdulaziz Alhokair Co , the Saudi Arabian retailer which franchises brands such as Zara and Marks and Spencer in the kingdom, reported on Monday a 40 percent year-on-year leap in net profit for its fourth quarter ended March 31.

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Energy, Oil & Gas

Saudi Electricity Q1 net loss widens 39pc

Saudi Electricity Co (SEC) reported a significant widening of its net loss for the first quarter on Sunday, as the utility saw costs increase and the value of some of its fixed assets decline.

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Finance & Capital Market

Kingdom Holding Q1 net profit up 15pc

Saudi Arabia's Kingdom Holding , the investment firm owned by billionaire Prince Alwaleed bin Talal, reported a 14.8 percent increase in first-quarter net profit on Sunday, citing higher income from investments.

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Analysis, Interviews, Opinions

Global sukuk market 'lacks integration'

The sukuk market operates as a collection of local markets because of lack of integration and the Malaysian market remains the strongest by far, according to a Standard & Poor's Ratings Services report.

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Industry, Logistics & Shipping
Travel, Tourism & Hospitality

Accor, Nakheel launch ibis Styles brand in region

Accor Middle East, one of the leading hospitality groups in the region, recently signed a management agreement with Dubai-based master developer Nakheel to operate its first Ibis Styles hotel in the region.

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IT & Telecommunications

Avaya closes data center, end devices gap

Avaya has announced that it is extending automation from the data center to the end device, completely removing manual provisioning from everyday service delivery.

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Government & Laws

Five get death for 2003 Riyadh attacks

A Saudi Arabian court on Sunday sentenced five men to death for their involvement in a suicide attack on expatriate residential compounds in Riyadh in 2003, the state news agency reported.

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Health & Environment

Saudi pharmaceutical market seen at $3.6bn

The pharmaceutical market in Saudi Arabia including government procurements is estimated at SR13.5 billion ($3.6 billion) with the private sector claiming a share of SR7 billion, a report said.

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Media & Promotion

Kuwaiti papers suspended over 'plot' reports

A judge has suspended two Kuwaiti newspapers for two weeks after they published stories about a recording that discusses an alleged plot to overthrow the Gulf state's ruling system, their editors said on Sunday.

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Miscellaneous
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