Saturday 23 May 2015

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STRATEGIC EXIT
Arcapita sells big US apparel group J.Jill

Bahrain investment firm Arcapita said sold J.Jill Group, a leading US-based multi-channel retailer of women’s apparel, accessories and footwear, to TowerBrook Capital Partners, a leading global investment management firm.

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1

ACWA, MITSUI KEY PARTNERS
Oman to award major power plant project

Oman Power and Water Procurement Company is set to award a major contract to a consortium comprising Japan's Mitsui & Company and Saudi-based Acwa Power for the development of a 445MW natural gas-fired power plant in the sultanate.

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2

21 KILLED, 90 WOUNDED
Islamic State claims Saudi mosque bombing

A suicide bomber killed 21 worshippers on Friday in a packed mosque in eastern Saudi Arabia, residents and the health minister said, the first attack in the kingdom to be claimed by Islamic State militants.

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3

SPECIAL REPORT
Saudi Arabia rewrites oil game with refining might

Saudi Arabia's rapid transition into one of the world's largest oil refiners has added an extra dimension to the oil exporter's role as the driver of Opec (Organization of the Petroleum Exporting Countries) policy, say experts.

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4

ANALYSIS
US drivers yield 'swing' oil demand crown to Saudis

As the United States raced over the past five years toward becoming a global petroleum powerhouse, the world's biggest oil exporter Saudi Arabia quietly seized a market milestone from America: the largest source of peak summer demand.

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5

NEWS IN PICTURES
Oman's events hub

Oman Convention & Exhibition Centre (OCEC), the sultanate’s landmark business events hub, has revealed its latest 3D structures and aerial drone images in the lead up to its opening in 2016, at an event in Frankfurt, Germany.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Oman to award major power plant project

Oman Power and Water Procurement Company is set to award a major contract to a consortium comprising Japan's Mitsui & Company and Saudi-based Acwa Power for the development of a 445MW natural gas-fired power plant in the sultanate.

More…
Retail & Wholesale

Arcapita sells big US apparel group J.Jill

Bahrain investment firm Arcapita said sold J.Jill Group, a leading US-based multi-channel retailer of women’s apparel, accessories and footwear, to TowerBrook Capital Partners, a leading global investment management firm.

More…
Energy, Oil & Gas

Orpic borrows $910m from local, Gulf banks

State-owned Oman Oil Refineries and Petroleum Industries Co (Orpic) has taken out a RO350 million ($910 million), ten-year loan from local and regional banks, part of which will be used to fund expansion projects, the company said.

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Finance & Capital Market

Jordan sees 3.8pc growth despite regional wars

Jordan's economy is robust despite spillover violence along its borders from wars in Syria and Iraq, the central bank governor said on Friday, and will meet its IMF-approved target this year.

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Analysis, Interviews, Opinions

Saudi Arabia rewrites oil game with refining might

Saudi Arabia's rapid transition into one of the world's largest oil refiners has added an extra dimension to the oil exporter's role as the driver of Opec (Organization of the Petroleum Exporting Countries) policy, say experts.

More…
Industry, Logistics & Shipping

Glaston sells pre-processing machines business

Glaston, a Finland-based firm developing glass processing technology for architectural, solar, appliance and automotive applications, said it has sold its pre-processing machines business to the local management of Glaston Italy.

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Travel, Tourism & Hospitality

Shangri-La to open first property in Saudi Arabia

Assila Investments, a diversified holding company based in Saudi Arabia, has reached an agreement with Shangri-La International Hotel Management to open its first property, a 242-room luxury hotel, in the kingdom at Jeddah.

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IT & Telecommunications

Mobily set for RCN commercial launch

Mobily, a leading Saudi-based mobile services operator, has announced the commercial launch of the regional cable network which connects the Middle East with Europe starting from Fujairah (UAE) passing through Riyadh (Saudi Arabia).

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Lifestyle

Kens, Studio E offer hand-painted wallpaper

Kens & Company, a provider of quality finishes and Studio E Hand Painted Wallpaper have partnered bring to the Gulf their collection of authentic Italian polished plaster and artisan metal-leaf as wallpaper.

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Motoring

Dubai unveils details of eco-friendly school buses

The Roads and Transport Authority (RTA) has unveiled the design and technical specifications of its eco-friendly school buses, to be operated by the Dubai Taxi Corporation (DTC) to offer transit services to students.

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Health & Environment

Majid Al Futtaim launches drive against heart disease

UAE-based Majid Al Futtaim said two of the leading shopping destinations in Oman are spearheading its regional health campaign ‘Feel the Beat’ that offers complimentary heart health testing for women in the sultanate.

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Media & Promotion

UAE plans official launch of space agency

The UAE is set to officially launch its space agency besides introducing a number of initiatives and programs to help the nation become a key player in space science exploration.

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Education, HR & Training

Saudi university, Pearson to provide e-learning technology

The Preparatory Year Deanship at Um Al Qura University (PYP-UQU) has partnered with leading learning company Pearson to provide students with online learning and assessment technology.

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Miscellaneous

Mideast nuke arms ban talks fail over row

A month-long review conference on the 1970 nuclear Non-Proliferation Treaty ended in failure on Friday after its members were unable to overcome disagreements on an atomic weapons ban for the Middle East.

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