Wednesday 27 May 2015

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ECONOMIC BENEFITS
Etihad delivers $2.9bn to US economy, supports 23,400 jobs

Etihad Airways, the national airline of the UAE, will contribute $2.9 billion to the US economy and support 23,400 American jobs this year, a new research by the global consultancy Oxford Economics revealed.

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AIRPORT PROJECT WORK
Oman to deport over 1,000 foreign labourers

Oman plans to deport over 1,000 foreigners found to be working illegally on a multi-billion dollar project to expand Muscat International Airport, in a sign of tensions between its labour policy and its big infrastructure building plans.

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2

QATAR WORLD CUP TO GO AHEAD
Swiss arrest top Fifa officials in corruption cases

Swiss police arrested some of the most powerful figures in global soccer on Wednesday, announcing a criminal investigation into the awarding of the next two World Cups and plunging the world's most popular sport into turmoil.

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3

ANALYSIS
Oil ‘super cycle’ to benefit Mideast companies

Low production costs for Middle East companies offer regional players significant competitive advantage in the low price segment of an oil ‘super cycle’, a report said.

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4

SPECIAL REPORT
Saudi women ‘spend $3,800 a year on cosmetics’

Saudi Arabia’s many affluent and beauty-conscious women are spending on average SR14,256 ($3,800) a year on cosmetics, a report said, forecasting that the kingdom’s $16 billion market is set for an 11 per cent growth rate.

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5

NEWS IN PICTURES
Playing dress-up

Dubai-based Emirates has launched the airline’s official cabin crew and pilot uniform for children in its Spring/Summer 2015 collection. Aspiring cabin crew and pilots aged 3 to 8 years can now play dress-up with the exclusive collection.

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Top Trade News

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Industry Sectors

Construction & Real Estate

RTA spends $22bn on Dubai infrastructure projects

Dubai’s Roads and Transport Authority (RTA) said its total expenditure for boosting the infrastructure in the emirate has risen to more than Dh80 billion ($22 billion) over the last 10 years.

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Retail & Wholesale

Nakheel signs up 100 restaurants for waterfront project

Leading developer Nakheel has confirmed nearly 100 restaurants and shops at The Pointe, its new Dh800 million ($217 million) waterfront retail, dining and entertainment complex, under construction in Dubai, UAE.

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Energy, Oil & Gas

GAC EnvironHull wins hull cleaning deal with Statoil

GAC EnvironHull has signed a contract with the international energy company Statoil to provide underwater hull cleaning services for its vessels operating in Scandinavia, the Middle East and the Far East.

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Finance & Capital Market

Mideast PE market ‘shows signs of maturity’

The private equity market in the Middle East has matured in the last five years in terms of deal structures, volumes and values, according to speakers at a recent forum held in Dubai, UAE.

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Analysis, Interviews, Opinions

Saudi women ‘spend $3,800 a year on cosmetics’

Saudi Arabia’s many affluent and beauty-conscious women are spending on average SR14,256 ($3,800) a year on cosmetics, a report said, forecasting that the kingdom’s $16 billion market is set for an 11 per cent growth rate.

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Industry, Logistics & Shipping

Masharie divests 51pc stake in rubber firms for $9.9m

Masharie, the private equity arm of Dubai Investments – a leading investment company listed on DFM, has divested its 51 per cent stake in both International Rubber Company and Techno Rubber Company for Dh36.5 million ($9.9 million).

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IT & Telecommunications

Etisalat tests for 450Mbps mobile broadband

UAE-based telecom group Etisalat has completed the live testing of CAT-9 on its LTE-Advanced (LTE-A) network opening up possibilities of up to 450Mbps mobile broadband speeds for customers in the Emirates.

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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

EMC launches Mercedes-Benz GLA in Abu Dhabi

Emirates Motor Company (EMC), the Mercedes-Benz authorised distributor in the emirate of Abu Dhabi and the flagship company of Al Fahim Group, has launched the new Mercedes-Benz GLA in Abu Dhabi, UAE.

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Health & Environment

New knee replacement technology unveiled

India-based Apollo Hospitals has unveiled a revolutionary knee replacement technology in the UAE, which lasts for more than 30 years and is suitable for patients between ages 45-55 as well as patients suffering from obesity.

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Media & Promotion

Asda’a named ‘ME Consultancy of the Year’

Asda’a Burson-Marsteller, a leading public relations consultancy in the region, has been named ‘Middle East Consultancy of the Year 2015’ at the Sabre Awards.

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Education, HR & Training

Saudi firm seeks quality residential solutions for workers

Saudi-based Anan Iskan highlighted the poor state of workers’ villages in the kingdom and said innovative, quality residential solutions were the need of the hour to improve their living conditions and provide them a decent life.

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Miscellaneous

International police summit opens in Abu Dhabi

Leading experts from the field of scientific and academic research, police education and training across security and police academies, are taking part in a major conference in Abu Dhabi.

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