Sunday 20 April 2014

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WORLD ARMS BUDGET HITS $1.75trn
At $65bn, Saudi among top four military spenders

Saudi Arabia is among the four highest military spenders globally, according to a new report by Stockholm International Peace Research Institute (SIPRI).

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1

PRODUCT PRICES DOWN
Sabic Q1 profit falls 1.8pc to $1.72bn

Profit at Saudi Basic Industries Corp (Sabic), one of the world's biggest petrochemical firms, slipped 1.8 percent in the first quarter of this year as lower product prices offset rises in production and sales volumes.

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2

26pc RISE IN CONSTRUCTION VISAS
5.1pc jump in expat employment in Bahrain

Employment growth among expatiates in Bahrain went up by 5.1 per cent, a report said, adding that the number of jobs rose from 488,979 in the fourth quarter of 2012 to 514,156 in the fourth quarter last year.

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3

ANALYSIS
Non-oil sector boosting Abu Dhabi housing market

Growth in key non-oil sectors such as tourism, hospitality, education and healthcare is translating into robust demand in terms of the volume and nature of property requirements in Abu Dhabi, a report said.

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4

NEW DISCOVERY
In cloning first, stem cells made from adults

Scientists have moved a step closer to the goal of creating stem cells perfectly matched to a patient's DNA in order to treat diseases, they announced, creating patient-specific cell lines out of the skin cells of two adult men.

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5

IMAGE OF THE DAY
Easter special

Two men are covered in sand at a beach to celebrate Easter Sunday, near Manila Bay in Cavite province, Philippines, on April 20. Filipinos flocked to beaches on Easter Sunday after commemorating Lent.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Nakheel awards 2 contracts for Deira Islands

Nakheel, a major Dubai-based developer, has awarded contracts valued at more than Dh47 million ($12.7 million) for design and supervision services on Deira Islands, a report said.

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Retail & Wholesale

Sharjah expo to feature 450 jewellers

Nearly 450 jewellers from more than 20 countries will be displaying gold and diamond jewellery, precious stones, pearl sets, gemstones and branded watches at the upcoming MidEast Watch & Jewellery Show in Sharjah.

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Energy, Oil & Gas

IEA slashes global oil demand growth forecast

The International Energy Agency (IEA) has revised upwards its forecast for global oil demand growth in 2014 to a modest 1.5 per cent on the back of a more robust outlook for global economic growth, a report said.

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Finance & Capital Market
Analysis, Interviews, Opinions

Women in Gulf begin to crack 'glass ceiling'

The Gulf region's growing wealth, rising education standards for women and government efforts to promote more equal opportunities should help make it easier for women to crack the "glass ceiling".

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Industry, Logistics & Shipping

Sabic Q1 profit falls 1.8pc to $1.72bn

Profit at Saudi Basic Industries Corp (Sabic), one of the world's biggest petrochemical firms, slipped 1.8 percent in the first quarter of this year as lower product prices offset rises in production and sales volumes.

More…
Travel, Tourism & Hospitality

Al Tayyar Travel Q1 profit rises 28pc

Saudi Arabia's Al Tayyar Travel Group posted a 28.4 percent rise in first-quarter net profit as sales increased and it sold property and equipment.

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IT & Telecommunications

Bahrain simplifies mobile number migration

The Telecommunications Regulatory Authority (TRA) of Bahrain has significantly reduced the processing time for mobile number portability services that allow users to retain their numbers even after they migrate from one provider to another.

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Government & Laws

New rules to protect foreign workers in Bahrain

Bahrain’s Labour Market Regulatory Authority (LMRA) has introduced new rules for recruitment agencies, which will require them to deposit BD10,000 ($26,500) in a bank account for dealing with problems involving foreign workers.

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Motoring

Audi planning to sell half million cars in China

Volkswagen's luxury division Audi plans to sell about half a million cars this year in China, the world's biggest car market, a report said.

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Health & Environment
Media & Promotion

Americana’s KFC campaign wins top honours

Americana Group’s marketing campaigns for KFC Arabia has been recognised with an award at the 2014 Internationalist Awards for Innovation in Media and two other wins at the regional 2014 Dubai Lynx Award.

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Education, HR & Training

5.1pc jump in expat employment in Bahrain

Employment growth among expatiates in Bahrain went up by 5.1 per cent, a report said, adding that the number of jobs rose from 488,979 in the fourth quarter of 2012 to 514,156 in the fourth quarter last year.

More…
Miscellaneous

At $65bn, Saudi among top four military spenders

Saudi Arabia is among the four highest military spenders globally, according to a new report by Stockholm International Peace Research Institute (SIPRI).

More…
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