Friday 12 February 2016

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SAUDI 'MAY BACK MOVE'
Venezuela suggests oil output 'freeze' by all producers

Some Opec countries are trying to achieve a consensus among the group and key non-members for an oil production "freeze", sources familiar with the discussions say, in an attempt to tackle the global glut without cutting supply.

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1

PROJECT TO CREATE 1,000 JOBS
Toyota plans $396m spend for Turkey engines plant

Toyota Motor Corp will begin production in Turkey by year-end of a new hybrid engine model with an investment of more than 350 million euros ($396 million), Toyota's chief executive of Europe, Johan van Zyl, said.

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2

OVER 2,600 UNITS COMPLETED
Damac's 2015 net profit surges 30pc to $1.23bn

Damac Properties, a leading developer of high-end properties in the Middle East, said it has registered a net profit of Dh4.51 billion ($1.23 billion) for 2015, up 30 per cent over the previous year.

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3

SPECIAL REPORT
Shock slump across European industry bodes ill for 2016

Europe's top four economies suffered steeper drops in industrial output during December than any analyst had forecast, a grim sign for the global economy as it struggles to sustain momentum.

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4

ANALYSIS
What if oil stays below $50 until 2020?

What if oil prices remain stuck in a $25 to $50 per barrel range for the next 5 years? What will the world economy look like in 2020? How do different asset classes perform? Bank of America Merrill Lynch explores the scenario.

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5

NEWS IN PICTURES
Singing at Sanremo

British singer Ellie Goulding performs on stage during the Sanremo Italian Song Festival at the Ariston Theater in Sanremo, Italy, on February 10. The 66th Festival della canzone italiana di Sanremo runs till February 13.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Saudi contractor Khodari eyeing private projects

Saudi contractor Abdullah A M Al Khodari & Sons, whose value of government contracts fell by almost half last year, is targeting more private-sector work and deals in the GCC region after cutting 8,000 jobs last year, said a report.

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Retail & Wholesale

Axiom Care continues GCC expansion

Axiom Care, the region’s largest after-sales service provider for mobile devices, axiom care, is continuing to expand ad currently has more than 25 service points in the region, which include eight in the UAE, and 17 in Saudi Arabia.

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Energy, Oil & Gas

Pakistan signs 15-year LNG deal with Qatar

Pakistan said it has signed a 15-year agreement to import up to 3.75 million tonnes of liquefied natural gas a year from Qatar, a major step in filling Pakistan's energy shortfall.

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Finance & Capital Market

Middle East Healthcare share sale in March

Saudi Arabia's Middle East Healthcare Company, which postponed its public share sale last month, has rescheduled its offering to run from March 3-9, the market regulator said.

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Analysis, Interviews, Opinions

Millennials shifting car ownership trends

When Toyota Motor looked to the future at the turn of the millennium and aimed its new, edgy Scion small-car brand at 20-somethings, it could not have guessed that the model would be dead after just 12 years.

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Industry, Logistics & Shipping

Toyota to produce hybrid engines in Turkey

Toyota Motor Corp will begin production in Turkey by year-end of a new hybrid engine model with an investment of more than €350 million ($396 million), Toyota's chief executive of Europe, Johan van Zyl, said.

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Travel, Tourism & Hospitality

TCA Abu Dhabi embarks on roadshow campaign

Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) has lined up exciting and fun-filled events this year which will be announced during its roadshow campaign in the capital cities of the GCC.

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IT & Telecommunications
Lifestyle

$1bn luxury project coming up at Shakespeare theatre site

UK residential developer Galliard Homes has joined hands with top developers Cain Hoy and McCourt and Chinese real estate group Vanke to launch a £750-million ($1.07 billion) mixed-use project - The Stage in Shoreditch, UK.

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Motoring

BMW, VW, Daimler recall vehicles in US with Takata air bags

The three largest German automakers said they will recall 2.5 million vehicles in the US equipped with Takata Corp air bags, the latest moves in a long-running safety crisis involving the Japanese automotive supplier.

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Health & Environment
Media & Promotion

Etisalat launches new personalised TV service

UAE’s Etisalat has launched its new eLife user interface (UI) designed to create a personalised experience as well as to improve content discovery across its eLife TV channels and on-demand services.

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Education, HR & Training

Over 75pc of Mena staff ‘passionate about work’

More than 75 per cent of employees in the Mena region are ‘extremely passionate’ about their work, while about 91.5 per cent feel that the work they do adds purpose to their life, a report said.

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Miscellaneous

Russia proposes Syria truce in March

World powers pressed Russia to stop bombing around Aleppo in support of a Syrian government offensive to recapture the city and a Western official said Moscow had presented a proposal envisaging a truce in three weeks' time.

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