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COMPANY ASSETS TOTAL $7 BILLION
Abu Dhabi holding firm Senaat plans share sale
An Abu Dhabi government-owned holding company may sell its own shares or off-load a stake in one of its main businesses as part of plans to spur listings on the local stock market, three sources familiar with the matter told Reuters.
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UAE ENTRY 'POSSIBLE'
Iraq Trade Bank to expand into Lebanon, Turkey
State-owned Trade Bank of Iraq (TBI) plans to expand its domestic presence as well as open branches in Lebanon and Turkey to tap growing trade between the countries, the bank's top executive said on Thursday.
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LAUNCH DATE, EFFICIENCY UNCLEAR
Iran seeks to speed up nuclear activity: IAEA
Iran is trying to accelerate its uranium enrichment programme, a UN nuclear report showed, but experts said it was unclear when Tehran's new machines could start operating and how efficiently they would work.
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GLOBAL ECONOMY
Warning signs for China, Fed hints at curbing stimulus
Chinese factory activity shrank in May for the first time in seven months, overshadowing signs that the euro zone's downturn tempered slightly in May, business surveys showed on Thursday.
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ANALYSIS
Clamp on radicals tests Tunisia's stability
For the first time since the Arab Spring uprisings of 2011, relations between Tunisia's mainstream Islamists in government and radical Salafist Muslim activists have reached breaking point, sparking deadly clashes in two Tunisian cities.
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IMAGE OF THE DAY
Disability not inability
Sudarshan Gautam, 32, looks at the rear view mirror as he demonstrates his driving skills using his feet in Kathmandu on May 23. Gautam became the first double amputee to climb the world's highest peak Mount Everest on Monday.
Top Trade News
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1,800 contracting workers in Bahrain end strike
An estimated 1,800 workers who went on strike at Bahrain contracting firm G P Zachariades (GPZ) five days ago, claiming they hadn't been paid for the past two months, returned to work yesterday (May 22).
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Majid Al Futtaim to buy Carrefour's 25pc stake
Carrefour, Europe's largest retailer, agreed to sell its remaining 25-percent stake in a Middle East joint venture to local partner Majid Al Futtaim (MAF) for 530 million euros ($682.45 million), MAF said in a statement.
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Technip wins Adma-Opco contract
Technip, a world leader in project management, engineering and construction for the energy industry, has been awarded a lump-sum turnkey contract by Adma-Opco for its flares modification and revamp project on Das Island.
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Kuwait budget surplus may hit $52 billion
Kuwait is likely to have recorded another massive surplus during the last financial year of up to KD15 billion ($52.8 billion) as the price of Kuwait Export Crude (KEC) averaged $107 per barrel for the fiscal year, a report said.
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Cancer immunotherapy 'next big thing'
A new wave of medicines that tap the power of the immune system to fight cancer could become the biggest drug class in history, with potential sales of $35 billion a year.
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Sabic opens new facilities in Jubail
Saudi Basic Industries Corporation (Sabic) has opened its first engineering thermoplastics facility as well as a new polypropylene compounding (PPc) plant in Jubail.
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Oman Air to buy three A330 planes
Airbus has won an order for three A330-300 aircraft from Oman Air, the national carrier of Oman, the European planemaker said on Wednesday.
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90pc of passwords ‘vulnerable to hacking’
More than 90 per cent of the user-generated passwords in the Middle East are susceptible to hacking, leaving room for billions of dollars in potential damages, said experts ahead of an IT security exhibition in Dubai.
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New GCC tobacco tax ‘could fuel illicit trade’
A 100 per cent increase in duty on tobacco products in the GCC could fuel growth in illicit trade, beyond the control of police and customs authorities, as a consequence of an overnight rise in the cost of cigarettes, says a report.
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VW lists recommended retail prices in GCC
Volkswagen Middle East has announced the introduction of Recommended Retail Prices for Volkswagen genuine parts and accessories across the GCC.
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Saudi confirms another death from new virus
Saudi Arabia has notified the World Health Organisation (WHO) of an additional laboratory-confirmed fatal case of infection with the Middle East respiratory syndrome coronavirus (MERS-CoV).
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Expert discusses role of PR in Arab world
The important role of public relations (PR) in the future of the Arab world and for new leaders has been highlighted by a regional industry pioneer.
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Monster Gulf to hold online career fair
Monster Gulf (monstergulf.com), one of the leading online career and recruitment solutions providers, is set to hold an online career fair, developed to meet the changing needs of the jobseekers and employers alike.
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Mubadala unit developing new cabin concept
SR Technics, part of the Abu Dhabi-based Mubadala Aerospace MRO network, is developing a brand new multi-layered cabin concept, which will be applicable to both Boeing and Airbus business jets.
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