Thursday 24 April 2014

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BUDGET AIRLINES TO START OP
It's official: New Doha airport to open next week

Qatar's new Hamad International Airport, a key part of its plans to become a regional aviation hub, will open to passenger traffic next week after construction delays of more than a year, the country's Civil Aviation Authority said.

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1

WORLD'S TALLEST BUILDING
Iconic Kingdom Tower work moves above ground

Jeddah Economic Company (JEC), owner and developer of The Kingdom Tower and City in Jeddah, has announced the completion of the foundation work and the beginning of above ground work on the tower.

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2

REGIONAL SECURITY MOVE
GCC nuclear plan called to counter Iran threat

GCC nations should work on acquiring nuclear know-how to balance any threat from Iran, said a senior member of Saudi Arabia’s royal family addressing a major conference in Bahrain spotlighting national and regional security.

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3

INSIGHT
New Egypt law to lure investors may feed corruption

A new Egyptian law that prevents third parties from challenging contracts made with the government may encourage foreign investors but critics say it will increase scope for corruption.

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4

SPOTLIGHT
Property bubble? 'Not in Abu Dhabi'

Abu Dhabi remains far from entering a boom-and-bust cycle in its real estate market even though property prices in the wealthy emirate are rising sharply, executives said at a major industry fair.

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5

IMAGE OF THE DAY
Show of respect

US President Barack Obama (2nd L) bows to "Asimo" the robot while visiting Miraikan or the National Museum of Emerging Science and Innovation, in Tokyo.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

KAEC awards $11.6m contract for park

King Abdullah Economic City has awarded New Job Contractors Establishment a contract worth SR43.5 million ($11.6 million) for the development of a park and construction of an adjacent canal promenade at Bay La Sun district.

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Retail & Wholesale

Gitex Shopper Spring opens with great deals

Gitex Shopper Spring 2014, the region’s largest consumer IT and electronics show, was inaugurated this morning (April 23) by Sheikh Mansour bin Mohammed bin Rashid Al Maktoum in Dubai.

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Energy, Oil & Gas

Bahrain 'open to JVs in oil exploration'

Bahrain is open to new joint ventures, especially in the fields of oil and gas exploration and downstream facilities, said a senior government official.

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Finance & Capital Market

DFM net profit soars 696pc in Q1

Dubai Financial Market (DFM) has recorded a net profit of Dh215.1 million ($58.5 million) for the first quarter of the year, a 696 per cent leap compared to Dh27 million during the corresponding period of 2013.

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Analysis, Interviews, Opinions

Burj Al Arab offers 'wedding in the sky'

Burj Al Arab, the world's most luxurious hotel, is taking romance to new heights offering weddings in the sky, 212 metres above the azure Arabian Gulf on the famous Burj Al Arab helipad.

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Industry, Logistics & Shipping

Armacell eyes investment in Bahrain

A high-level delegation from Armacell, a world leader in the market for flexible technical insulation material, has discussed investment opportunities with Economic Development Board (EDB) acting chief executive Kamal Ahmed.

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Travel, Tourism & Hospitality

Four Seasons soars with first branded jet

The sky is literally the new limit as Four Seasons continues to reimagine luxury hospitality with the introduction of the Four Seasons Jet, the industry’s first fully branded private jet experience.

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IT & Telecommunications

BT, Viva to build major interoperability hub in Bahrain

BT, one of the world’s leading providers of communications services and solutions, has signed an agreement with Viva Bahrain to build a Global IP Exchange (GIPX) interoperability hub in Bahrain.

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Government & Laws

Bahrain MPs push for driving curbs on expats

Some of members of Bahrain's parliament yesterday again pushed for expats to be banned from driving unless they need to for work, puttin the tough new traffic law is in danger of being shelved, a report said.

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Motoring

Chevrolet posts 47pc sales growth in UAE

Chevrolet has posted a 47 per cent increase in sales in the UAE for the first quarter compared to the same period last year, making the country one of the highest growing markets in the Middle East for the quarter.

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Health & Environment

Saudi reports 11 new cases of Mers virus

Saudi Arabia said on Wednesday it had discovered 11 more cases of the potentially deadly Middle East Respiratory Syndrome (Mers), including what appeared to be the first case in the holy city of Makkah.

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Media & Promotion

Saudi to regulate homegrown YouTube shows

Saudi Arabia plans to regulate local companies that screen shows on YouTube, a senior official was quoted as saying in local media - a move that could stifle its nascent creative industries.

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Education, HR & Training

Thomson Reuters in deal with Saudi Digital Library

Thomson Reuters, a leading source of intelligent information, has signed an agreement with the Saudi Digital Library to support the transformation of the Kingdom to a knowledge-based economy.

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Miscellaneous

US to deliver 10 attack helicopters to Egypt

The US said on Tuesday it will deliver 10 Apache attack helicopters to Egypt, relaxing a partial suspension of aid imposed after Egypt's military ousted President Mohamed Mursi last year and cracked down violently on protesters.

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