Monday 22 December 2014

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BUDGET DEFICIT RULED OUT
Saudi ready to raise oil output if new clients emerge

Saudi Arabia is prepared to increase its oil output and claim a bigger market share to meet the demands of any new customers, a Saudi-owned newspaper quoted the kingdom's oil minister as saying on Monday.

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1

100m TONNE CAPACITY TARGET
Saudi plans $91bn spend to spur petchem sector

Saudi Arabia has earmarked $91 billion to be spent over the next 10 years to build new petrochemicals plants and expand existing ones as well as integrate refineries with petrochemical units, according to industry experts.

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2

DEAL VOLUME JUMPS 40pc
Global M&A hits seven-year high at $3.27 trillion

The global value for mergers and acquisitions (M&A) reached their highest annual level in 2014 at $3.27 trillion since 2007, up 40 per cent from last year, according to Thomson Reuters data.

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3

TECHNOLOGY
How technology shapes ‘future of work’

Smartphones and wearable devices will be the future workforce’s most important “connected” device – while the laptop remains the workplace device of choice, according to a report that explores how technology will shape the ‘future of work’.

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4

INSIGHT
The inside story of the new Airbus A350 jet

Ten years ago, the boss of Qatar Airways, who takes his first new A350 jet this week, warned Airbus it was flying off course, even as Boeing was knocking on his door with a "super-efficient" jet boasting 30 per cent fuel savings.

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5

IMAGE OF THE DAY
Solstice at Stonehenge

A reveller celebrates as the sun rises during the winter solstice at Stonehenge on Salisbury plain in southern England on December 22. The winter solstice is the shortest day of the year, and the longest night of the year.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Emaar's Dubai real estate chief to resign

Dubai-based developer Emaar Properties said on Monday that the head of its Dubai real estate business would leave the firm at the end of the year.

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Retail & Wholesale

Nakheel sees good demand for retail space

Nakheel, a leading real estate developer in Dubai, said almost a third of shop space at its new Circle Mall at Jumeirah Village in Dubai has been booked - less than two weeks after its launch.

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Energy, Oil & Gas
Finance & Capital Market

Gulf may stay firm on hopes for oil, Saudi budget

Gulf stock markets may stay firm on Monday after two days of strong gains, buoyed by hopes that oil prices have found at least a short-term floor and that Saudi Arabia will announce a 2015 budget that includes heavy government spending.

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Analysis, Interviews, Opinions

The inside story of the new Airbus A350 jet

Ten years ago, the boss of Qatar Airways, who takes his first new A350 jet this week, warned Airbus it was flying off course, even as Boeing was knocking on his door with a "super-efficient" jet boasting 30 per cent fuel savings.

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Industry, Logistics & Shipping

High start-up costs delaying 3D printing growth

High start-up costs are a main factor in the delay of implementing 3D printing strategies to 60 per cent of organisations, a report said, noting that early adopters of the technology are finding clear benefits in multiple areas.

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Travel, Tourism & Hospitality

Etihad to fly double daily to Melbourne

Etihad Airways, the national airline of UAE, plans to launch a second daily non-stop service between Abu Dhabi (UAE) and Melbourne (Australia) from August 1, 2015.

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IT & Telecommunications

App economy ‘creates new business lines for ME firms’

The new Application Economy brings new business opportunities to Middle East companies, said an industry expert, adding that more than 80 billion apps are estimated to be downloaded each year.

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Lifestyle

Oman set to top region in luxury spending

A majority (53 per cent) of luxury spenders in Oman plan to spend more on luxury goods and experiences in 2015, a report said, highlighting that this compares to a regional average of 31 per cent.

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Motoring

Abu Dhabi F1 draws record 60,000-strong crowd

The 2014 Formula 1 Etihad Airways Abu Dhabi Grand Prix was the most successful to date with the largest ever capacity at 60,000 people, marking an increase of 5,000 tickets over the 2013 edition, said event organisers.

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Health & Environment

Saudi hospital wins recognition for health informatics

Saudi Arabia’s King Khaled Eye Specialist Hospital (KKESH) has achieved Stage 6 on the Healthcare Information and Management Systems Society’s (HIMSS) electronic medical record adoption model (EMRAM).

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Media & Promotion

Abu Dhabi Media Zone takes over ImageNation

Abu Dhabi Media (ADM), the official media organisation of the emirate, said it has officially transferred the operations of ImageNation, a leading creators of media and entertainment content, to the Abu Dhabi Media Zone (twofour54).

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Education, HR & Training

Bahrain’s NIIT in pact to boost vocational training

The National Institute for Industrial Training (NIIT), the only industrial institute of its kind in Bahrain, has partnered with Germany’s Rheinmetall MAN Military Vehicles to promote cooperation in the fields of apprenticeship and training.

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Miscellaneous

Easy Taxi reaches 50 million rides

Easy Taxi, one of the largest taxi booking apps in the world, has completed 50 million rides since its launch across the dozens of countries where it operates, with more than $500 million of underlying estimated transaction value per year.

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