Wednesday 28 January 2015

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NO RIVAL OFFER SEEN
Canary Wharf owner succumbs to $4bn Qatari-led bid

Canary Wharf owner Songbird Estates dropped its opposition to a $4 billion Qatari-led bid on Wednesday, saying the group now had the backing of the holders of at least 86 per cent of the shares.

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1

DECISION LIKELY BY SEPT
Qatar unsure about 2024 Olympics bid

Qatar is undecided whether to bid to host the 2024 Olympics, a leading official has said, suggesting they may hold off for a later edition after two failed attempts to land sport's greatest spectacle.

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2

COMPLEX IN BASRA
Shell to build $11bn petchem plant in Iraq

Royal Dutch Shell signed deal with Iraq worth $11 billion to build a petrochemicals plant in the southern oil hub of Basra, Industry Minister Nasser Al-Esawi said on Wednesday.

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3

ANALYSIS
Abu Dhabi's assets will buffer impact of oil price drop

While the drop in oil prices will likely cause Abu Dhabi's economic growth to slow in 2015, the emirate's sizeable stock of foreign assets will help cushion the impact of lower oil revenues in the coming years, a report said.

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4

SPECIAL REPORT
AirAsia probe examines computer glitch, crew response

Investigators probing the crash of an AirAsia jetliner are examining maintenance records of a key part of its automated control systems, and how the pilots may have handled the plane if it failed.

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5

IMAGE OF THE DAY
New trike in town

Engineers test-drive a gasoline-powered amphibious tricycle on a lake south of Manila on January 28. The "Salamander", capable of travelling on both land and water, can carry five passengers and would cost around $4500.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

13,000 new housing units to hit Dubai market

More than 50 projects were launched in the off-plan market across Dubai, UAE, during 2014, which are expected to deliver over 13,000 units to the market, according to a report.

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Retail & Wholesale

Apple iPhone sales set global profits record

Apple quarterly results smashed Wall Street expectations with record sales of big-screen iPhones in the holiday shopping season and a 70 per cent rise in China sales, powering the company to the largest profit in corporate history.

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Energy, Oil & Gas
Finance & Capital Market

UAE fund eyes $100m finance buyout by June

Abu Dhabi Financial Group (ADFG) aims to complete the $100 million buyout of a local financial services firm by June, strengthening a shift towards expanding its business via acquisitions, its chief executive said on Tuesday.

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Analysis, Interviews, Opinions

Gulf consumers ‘more trusting with personal data’

Shoppers in the Gulf region are among the most open with their personal information, with 67 per cent willing to share their data, second only to India, revealed a new global survey by leading loyalty provider Aimia.

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Industry, Logistics & Shipping

Shell to build $11bn petchem plant in Iraq

Royal Dutch Shell signed deal with Iraq worth $11 billion to build a petrochemicals plant in the southern oil hub of Basra, Industry Minister Nasser Al-Esawi said on Wednesday.

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Travel, Tourism & Hospitality

Dubai aiming to be top destination by 2020

The UAE emirate of Dubai is aiming to attract 25 million tourists and become the world’s most popular city tourism destination by 2020, as part of its long-term growth strategy.

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Lifestyle

Luxury sedan, convertible lead Bentley’s ME sales

Bentley Motors has posted a seven percent increase in Middle East deliveries for 2014 with sales led by the Flying Spur W12, the world’s fastest road-going sedan and the Continental GT Speed Convertible, the brand’s fastest convertible.

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Motoring

Maserati’s Mena sales surge 155pc in 2014

Italian luxury car manufacturer Maserati has reported a 155 per cent increase in 2014 sales in the Mena region compared to the same period in the previous year.

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Health & Environment

DHCC adds 34 countries to licensing framework

Dubai Healthcare City (DHCC), the world’s largest healthcare free zone, has added 34 countries to the licensing framework for its healthcare and CAM (complementary and alternative medicine) professionals, totalling to 63 countries.

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Media & Promotion

Qatar unsure about 2024 Olympics bid

Qatar is undecided whether to bid to host the 2024 Olympics, a leading official has said, suggesting they may hold off for a later edition after two failed attempts to land sport's greatest spectacle.

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Miscellaneous

Egypt cheese firm to set up two factories

Egypt-based Obourland Cheese Company plans to set up two new manufacturing units – a cheese factory and a new factory for juice and milk production – at a cost of EGP 100 million ($13.4 million), a report said.

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