Thursday 17 April 2014

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125 PROPERTIES TO OPEN THIS YEAR
573 hotels in pipeline in Mideast-Africa

There are 573 hotels in the development pipeline in the Middle East/Africa region, according to a STR Global Construction Pipeline Report.

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RELATIVES ANGRY
FERRY HORROR: Hundreds still missing

Rescuers were hammering on the upturned hull of a capsized South Korea ferry on Thursday hoping for a response from hundreds of people, mostly teenage schoolchildren, believed trapped inside the vessel.

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2

CHALLENGING TIMES
Open up to Asia, urges Bahrain King

Bahrain has to gear up to face global economic challenges and open up on promising Asian investment zones, His Majesty King Hamad said.

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3

SPECIAL REPORT
Experiential marketing ‘crucial for luxury brands’

More than 90 per cent of luxury executives believe that experiential marketing is crucial to their brand’s ability to connect with ultra wealthy clients, not digital marketing, which they see as a vehicle for brand awareness, a report said.

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4

FOCUS
Zain Saudi to break even within five years

Zain Saudi, Saudi Arabia's third biggest telecoms operator, will buy fixed line capacity from its competitors to expand its service offering in the kingdom and aims to break even in less than five years, it said on Wednesday.

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5

IMAGE OF THE DAY
Agony over the missing

A family member of a missing passenger who was on the South Korean ferry "Sewol" which sank in the sea off Jindo cries as she waits for a rescue team's arrival at a port where family members of missing passengers gathered in Jindo.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

UNB to finance $238m Abu Dhabi airport works

UAE-based Union National Bank is set to finance the PCE Joint Venture for the mechanical works for Abu Dhabi International Airport – Midfield Terminal Building.

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Energy, Oil & Gas

Kuwait to invest $35bn in oil projects

Kuwait National Petroleum Company (KNPC) will invest $35 billion in expansions and new projects in the coming five years, said the company's chief executive officer Mohammad Ghazi Al-Mutairi.

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Finance & Capital Market
Analysis, Interviews, Opinions

Zain Saudi to break even within five years

Zain Saudi, Saudi Arabia's third biggest telecoms operator, will buy fixed line capacity from its competitors to expand its service offering in the kingdom and aims to break even in less than five years, it said on Wednesday.

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Industry, Logistics & Shipping

Bricks for paper: Dubai traders duped

Some traders in Dubai have received containers full of bricks and stones from China instead of what they had originally ordered, a Gulf News report said.

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Travel, Tourism & Hospitality

MGM Resorts, Hakkasan form JV

MGM Resorts International, a leading global hospitality company, and London-based Hakkasan Group have formed a joint venture hotel management company.

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IT & Telecommunications

Mobily signs telecom deal with Vasco

Saudi Arabia-based Etihad Etisalat (Mobily) has signed a deal with Vasco, to provide connectivity to visitors to the kingdom from across 33 countries.

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Government & Laws

Saudi spy chief Prince Bandar replaced

Saudi Arabian intelligence chief Prince Bandar bin Sultan, the architect of Riyadh's attempts to bring down Syrian President Bashar al-Assad, has been removed from his post, state media reported on Tuesday.

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Motoring

Jaguar Land Rover logs 36pc growth in Mena

Jaguar Land Rover, a leading manufacturer of premium luxury vehicles, has posted a 36 per cent year-on-year (YOY) sales increase in the Mena region for the fiscal year April 2013 to March 2014.

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Health & Environment

1,000-bed maternity hospital for Jeddah

A new 1,000-bed maternity hospital will be built attached to the King Abdullah Medical Complex in Jeddah, Saudi Health Minister Dr Abdullah Al-Rabeeah has announced.

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Media & Promotion
Miscellaneous

Abraaj buys into Moroccan chocolate firm

The Abraaj Group, a leading investor operating in global growth markets, has announced the acquisition through one of its funds of a stake in Kool Food, a leading Moroccan chocolate confectionery manufacturer based in Casablanca.

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