Monday 30 March 2015

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NEW LAW BEING DRAFTED
UAE to allow 100pc foreign ownership of firms

The United Arab Emirates is at an advanced stage of drafting a foreign investment law to allow 100 per cent foreign ownership of businesses in some sectors, the country's economy minister said at a conference on Monday.

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1

NUMBERS GROW 5.3pc
Passenger traffic at Dubai airport hits 6m in Feb

Passenger traffic continued to grow steadily at Dubai International during February, increasing 5.3 per cent to nearly 6 million passengers, according to the latest traffic report issued by operator Dubai Airports.

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2

SINGAPORE ROUTE LAUNCHED
Oman Air orders 20 Boeing 737s in bid to double fleet

Oman Air, the flag carrier of the Sultanate, has ordered 20 Boeing 737 aircraft as part of a plan to double its fleet to 70 planes by 2020, chief executive Paul Gregorowitsch said on Monday.

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3

MONEY MATTERS
UAE Islamic banking assets to hit $263bn by 2019

The UAE is en route to achieve $263 billion of Sharia-compliant assets by 2019, thus making it the third largest Islamic banking market by value after Saudi Arabia and Malaysia, according to a new report.

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4

ANALYSIS
GCC on track to double smart city developments

The GCC is making major strides in its development of smart cities with the number of new smart city greenfield developments in the region set to double within the next two to three years, a report said.

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5

IMAGE OF THE DAY
Close call

Crew members work on the Airbus A320 that slid off a runway at the end of Air Canada Flight 624 at Halifax Stanfield Airport in Enfield, Nova Scotia on March 29. The plane suffered heavy damage, sending 20 passengers and crew to hospital.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Malaysia's Eversendai wins Riyadh Metro deal

Malaysia-based Eversendai Corp, an engineering and construction company, said it has won a contract from Saudi Arabia to carry out the steel works and cladding for lines 1 and 2 of the Riyadh Metro stations.

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Retail & Wholesale

Al Meera opens two new outlets in Qatar

Al Meera, a leading retail chain in Qatar, has announced the opening of its new branches at Muaither and Al Azizia area in line with its expansion strategy.

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Energy, Oil & Gas
Finance & Capital Market

Middle East firms face rising costs

Companies in the Middle East and North Africa are facing rising costs to fight financial crime, with more than half reporting a climb of higher than 25 per cent in the past two years, according to a survey.

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Analysis, Interviews, Opinions

GCC on track to double smart city developments

The GCC is making major strides in its development of smart cities with the number of new smart city greenfield developments in the region set to double within the next two to three years, a report said.

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Industry, Logistics & Shipping

Agility trims dividend despite 10pc Q4 profit gain

Kuwait's Agility, the largest Gulf logistics group, trimmed its dividend payout for 2014 despite reporting a 10 per cent increase in both its fourth-quarter and full-year net profit.

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Travel, Tourism & Hospitality

Passenger traffic at Dubai airport hits 6m in Feb

Passenger traffic continued to grow steadily at Dubai International during February, increasing 5.3 per cent to nearly 6 million passengers, according to the latest traffic report issued by operator Dubai Airports.

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IT & Telecommunications

Hitachi Data Systems partners with Qatar CGC

Japan-based Hitachi Data Systems Corporation said it signed a partnership agreement with Qatar-based technology and engineering conglomerate Consolidated Gulf Company (CGC).

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Lifestyle

Rasasi Perfumes to expand in luxury segment

Rasasi Perfumes, one of the leading perfume brands in the Middle East, plans to further consolidate its presence in the luxury perfume segment in wake of a robust demand for more premium perfumes across the region.

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Motoring

Ferrari end win drought with Sepang success

Ferrari put a dismal 2014 Formula One season behind them on Sunday with a tactical masterclass that allowed Sebastian Vettel to upset the odds and sweep to victory at the Malaysian Grand Prix.

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Media & Promotion

Yahoo, Microsoft extend search partnership talks

Yahoo Inc and Microsoft Corp agreed to extend by 30 days the deadline to re-negotiate a ten year search deal, as the two Internet companies attempt to revamp a thorny partnership crafted by former chief executives.

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Education, HR & Training

Schwab, Harvard launch social entrepreneurship course

The Schwab Foundation for Social Entrepreneurship and Harvard Kennedy School have launched the first bespoke executive education course on social entrepreneurship, titled “The Art and Science of System Change.”

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Miscellaneous

Bahrain backs pan-Arab rapid force

Bahrain yesterday (March 28) backed the establishment of a pan-Arab rapid intervention force to defend regional security and stability.

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