Monday 24 April 2017

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SALES TOP $500m
Alba’s Q1 net income jumps 506pc to $68 million

Aluminium Bahrain (Alba), a leading global aluminium smelter, posted a net income of BD25.6 million ($68 million) in the first quarter of 2017, compared to BD4.2 million ($11 million) in Q1 2016, a 506 per cent increase year-on-year (YoY).

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62 PROJECTS LAUNCHED IN Q1
Gulf hospitality projects value exceeds $148.4bn in Q1

The total value of the GCC's 1,153 hospitality projects exceeded Dh544.62 billion ($148.2 billion) in the first quarter of 2017, according to BNC Network, – a leading project research and intelligence provider in the Mena region.

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CABINET RESHUFFLE DECREED
Saudi King Salman restores benefits to state employees

Saudi Arabia’s King Salman bin Abdulaziz Al Saud has issued a royal decree to restore financial allowances for civil servants and military personnel that had been cut under austerity measures, media reports said.

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ANALYSIS
Saudi reversal of allowance positive for economy

Saudi Arabia’s decision to reverse allowance cut is likely to boost overall consumption in the economy, as higher disposable income will benefit core consumption sectors i.e. retail and food sectors, a report said.

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INTERVIEW
Cloud 'is a great enabler and equaliser'

The main drivers of transformation are agility and innovation and cloud enables these in a very significant way. We believe that technology is an enabler and a great equaliser for businesses, says Teresa Carlson of Amazon Web Services.

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NEWS IN PICTURES
March for Science

Tens of thousands of protestors gather on the National Mall for the March for Science in Washington, DC, on April 22. Organisers sought to call attention to climate change, and President Trump's budget cuts that affect scientific research.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Damac launches premium hotel property in Dubai

Damac Properties, a leading luxury real estate developer in the region, said it has launched Golfotel, the only premium five-tower hotel property surrounded by a golf course in Dubai, UAE.

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Retail & Wholesale

Dilmunia to build $137m family-centric mall in Bahrain

Dilmunia Mall Development Company is set to develop a BD52-million ($137 million) family-centric retail destination, a first-of-its-kind in the kingdom, over a 26,754 sq m area in the heart of Dilmunia Island in Muharraq, Bahrain.

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Energy, Oil & Gas

Amec Foster Wheeler wins Jordan power project deal

Amec Foster Wheeler, a leading engineering and project management company, said it has secured a new contract to design and supply two circulating fluidised-bed (CFB) steam generator boilers for a power plant project in Amman, Jordan.

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Finance & Capital Market

Bahrain’s Ibdar Bank appoints new CEO

Bahrain-based wholesale Islamic Investment bank, Ibdar Bank, has announced the appointment of Ayman Sejiny as chief executive officer (CEO) of the bank following Board of Directors approval.

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Analysis, Interviews, Opinions

Cloud 'is a great enabler and equaliser'

The main drivers of transformation are agility and innovation and cloud enables these in a very significant way. We believe that technology is an enabler and a great equaliser for businesses, says Teresa Carlson of Amazon Web Services.

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Industry, Logistics & Shipping

Oman Wanfang plans further investment in Duqm park

Oman Wanfang, a Chinese-owned company behind the development of the China-Oman Industrial Park in Duqm, plans to line up further investors having recently received commitments of $3 billion for projects in the park.

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Travel, Tourism & Hospitality

Arabian Travel Market opens tomorrow

Travel trade professionals from across the world’s hospitality industry will descend upon Dubai tomorrow (April 24) for the opening of Arabian Travel Market (ATM) 2017, the region’s leading travel industry showcase.

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IT & Telecommunications

Vodafone Egypt partners with Procera Networks

Vodafone Egypt has signed a multi-year, multi-million dollar partnership with Procera Networks to enhance the subscriber experience for its fixed and mobile subscribers.

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Lifestyle

Mini, NY architects create new living concept

Mini, a British automotive marque owned by BMW, has teamed up with New York architects SO – IL to create a resource-conscious living concept on a minimal footprint.

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Motoring

Dubai’s smart vehicle wins 91pc user approval

Dubai Road & Transport Authority’s (RTA) Smart Autonomous Vehicle, which had been experimented over two months in the Business Bay district, has claimed an overall satisfaction rating of 91 per cent.

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Health & Environment

Saudi Arabia set to build five hitech hospitals

The Saudi government has launched health projects worth more than SR1.1 billion ($293 million), including five modern hospitals, in the Najran region of the kingdom, said a report.

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Media & Promotion

Hilal Conferences and Exhibitions launches 3G Festival

Bahrain-based Hilal Conferences and Exhibitions is adding a new dimension to its popular '3 Exhibitions under One Roof,' with a new festival. It will feature live music from local Bahraini bands and food trucks.

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Education, HR & Training

Al Maskari, EF partner to boost training in UAE

Al Maskari Holding, the privately owned holding company of the Al Maskari portfolio, is partnering with EF Education First (EF), a global provider of teacher training programmes, to promote world-class education and training in the UAE.

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Miscellaneous

Saudi King Salman restores benefits to state employees

Saudi Arabia’s King Salman bin Abdulaziz Al Saud has issued a royal decree to restore financial allowances for civil servants and military personnel that had been cut under austerity measures, media reports said.

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