Thursday 2 July 2015

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STAR SHOWS, WORLD PREMIERES
Dubai set to spring bigger surprises this summer

Dubai has lined up some of the biggest surprises for this year's summer festival which kicks off on July 23 with celebrity shows, world premieres and spectacular retail promotions and fabulous prizes up for grabs.

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1

LOW OIL IMPACT
Abu Dhabi's IPIC net profit plunges 37pc

Abu Dhabi's state-owned International Petroleum Investment Company (IPIC) reported on Wednesday a 37 per cent drop in net attributable profit for 2014 as low oil prices hurt earnings.

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2

DOWNSTREAM SERVICES BOOST
UAE's Gulf Petrochem acquires Kenyan oil company

UAE-based Gulf Petrochem Group has announced the acquisition of Essar Petroleum East Africa in a bid to enhance the group’s services and products for the downstream supply chain in the oil and gas sector in East Africa.

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3

ANALYSIS
Oil bull market seen as Brazil, Iraq cut output targets

Massive downward revisions to oil output in Brazil and Iraq have increased the risks for oil markets of going from the current feast to famine within just a few years, leading to a price spike that would boost the US shale industry.

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4

SPECIAL REPORT
Second quarter M&A close to record amid mega deals

Mergers and acquisitions worldwide in the second quarter (Q2) of 2015 almost matched the record set during Q2 2007.

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5

IMAGE OF THE DAY
On top of the world

The Eastern Mangroves Suites by Jannah in Abu Dhabi, UAE, was announced the winner in the category of the Best Hotel Apartment in the Middle East Awards.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Dubai municipality working on $473m projects

Dubai Municipality is currently working on 23 main projects worth around Dh1.74 billion ($473 million) including a fish market, Dubai Safari and the Thuraya astronomical observatory, said a report, citing a top official.

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Retail & Wholesale

Philips launches 32-inch 4K resolution monitor

Philips Monitors has launched a new 32-inch display with 4K Ultra High Definition (UHD) resolution, to cater to the growing demand for super-fine resolutions at comparatively modest screen dimensions.

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Energy, Oil & Gas

UAE's Gulf Petrochem acquires Kenyan oil company

UAE-based Gulf Petrochem Group has announced the acquisition of Essar Petroleum East Africa in a bid to enhance the group’s services and products for the downstream supply chain in the oil and gas sector in East Africa.

More…
Finance & Capital Market

Qatar Islamic Bank raises $550m with Tier 1 sukuk

Qatar Islamic Bank (QIB), the Gulf state's largest sharia-compliant lender by assets, has raised QR2 billion ($550 million) with a Tier 1 perpetual sukuk issue, it said.

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Analysis, Interviews, Opinions

Oil bull market seen as Brazil, Iraq cut output targets

Massive downward revisions to oil output in Brazil and Iraq have increased the risks for oil markets of going from the current feast to famine within just a few years, leading to a price spike that would boost the US shale industry.

More…
Industry, Logistics & Shipping

Bahri to buy five more tankers from Hyundai Heavy

National Shipping Company of Saudi Arabia (Bahri) has signed a deal to buy a further five very large crude tankers from ship builder Hyundai Heavy Industries, the exclusive oil-shipper for Saudi Aramco said on Wednesday.

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Travel, Tourism & Hospitality

Qatar's Al Rayyan buys St Regis unit in US

Al Rayyan Tourism Investment Company (Artic), an international hotel investment and hospitality subsidiary of Qatar-based Al Faisal Holding Company, has acquired the popular St Regis Washington, DC (US).

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IT & Telecommunications

UAE heads global ‘Internet of Things’ expert group

The UAE was elected as the head of a new research committee for the Internet of Things (IoT) that was formed during a recent meeting of the International Telecommunication Union (ITU) in Geneva.

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Lifestyle

Watch Gallery opens new store in Abu Dhabi

Luxury watch retailer Watch Gallery, owned by the UAE-based Paris Gallery Group of Companies, has opened a new store at Yas Mall in Abu Dhabi as part of its regional expansion plans.

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Motoring

Nissan Sentra named ‘Top Compact Car’

Nissan, a leading automobile manufacturer, said that its 2015 Sentra model has been recognised as the ‘Top Compact Car’ by J D Power Initial Quality Study (IQS), the industry benchmark for new-vehicle quality.

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Health & Environment
Media & Promotion

Dubai set to spring bigger surprises this summer

Dubai has lined up some of the biggest surprises for this year's summer festival which kicks off on July 23 with celebrity shows, world premieres and spectacular retail promotions and fabulous prizes up for grabs.

More…
Education, HR & Training

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