Wednesday 17 September 2014

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SAVOLA CONFIRMS ADVISER
Bidders line up for Kuwait's Americana

Up to three bidders could submit offers to buy a majority stake in Kuwait Food Company (Americana) ahead of a deadline for second-round bids in mid-October, sources aware of the matter told Reuters.

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1

PLAN INCLUDES LOGISTICS HUB
Egypt raises $8.5bn for Suez Canal expansion

Egypt has raised the $8.5 billion it needs to fund a project to expand the Suez Canal in just eight days, the central bank governor said.

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2

KINGDOM TOP MARKET IN MENA
80 mega-projects coming up in Saudi Arabia

More than 80 mega-projects, each worth at least $1 billion, are under way or planned for completion by 2030 in Saudi Arabia, according to a new report.

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3

New global plans aim to crack down on tax avoidance by firms

Plans for a major rewriting of international tax rules unveiled on Tuesday could eliminate structures that have allowed companies like Google and Amazon.com to shave billions of dollars off their tax bills.

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4

MONEY MATTERS
New UAE rules aim to develop local bond, sukuk markets

New rules issued by the UAE's securities market regulator aim to develop local currency bond and sukuk markets in the Arab world's second biggest economy.

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5

IMAGE OF THE DAY
Lara, Scottish beauty in Bahrain

West Indies cricket legend Brian Lara was in Bahrain last week with his friend Jamey Bowers, the current holder of the Miss Scotland title. They stayed at the Best Western Hawar Resort Hotel for two days.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate
Retail & Wholesale

Dalma Mall to introduce new attractions

Dalma Mall, the largest shopping and lifestyle destination in Abu Dhabi,UAE, will introduce the latest technology movie screens and add more global brands in order to attract more customers.

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Energy, Oil & Gas

UAE to build two more nuclear power reactors

The UAE has approved the construction of two additional nuclear power reactors at the Barakah site in the Western Region of the Abu Dhabi emirate by the Emirates Nuclear Energy Corporation (Enec).

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Finance & Capital Market

First tranche of Emaar malls IPO already covered

Emaar Properties said institutional investors have committed to buying all the shares offered to them in the flotation of its shopping malls business only a day after the initial public offering (IPO) was launched.

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Analysis, Interviews, Opinions

Slowing climate change makes economic sense: study

Investments to help fight climate change can also spur economic growth, rather than slow it as widely feared, but time is running short for a trillion-dollar shift to transform cities and energy use, an international report said on Tuesday.

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Industry, Logistics & Shipping

Modern Abrasives launches new facility in Bahrain

Modern Abrasives Middle East, a Bahrain-based company established in collaboration with Ekamant AB of Sweden, has launched its new facility in the Hidd industrial area of the kingdom.

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Travel, Tourism & Hospitality

Libanet wins Saudi aircraft services contract

Libanet, a leading aviation industry services provider, has signed a contract with Saudia Ground Services Company (SGS) to provide a range of services to all carriers serving four key airports in Saudi Arabia.

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IT & Telecommunications

SEC awards SAP contracts to Wipro Arabia

Saudi Electricity Company (SEC), the largest power utility company in the Middle East, has awarded two major SAP ERP application contracts to Wipro Arabia, in a strategic partnership with the subsidiary of India-based IT leader Wipro.

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Government & Laws
Motoring

Toyota to test vehicles for extreme conditions

Toyota Motor Corporation has launched a project in which the company employees will assess vehicles, engaging in long distance driving in the extreme road and climate conditions of Australia.

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Health & Environment

‘Not all laser eye surgeries are the same’

Not all laser eye surgery and surgeons are the same, said a top Dubai-based eye surgeon, adding that prospective candidates need to be informed about the options, possible complications and the doctor’s qualifications and experience.

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Media & Promotion

15 Bahraini women make the Forbes list

Fifteen Bahraini women, including ministers and business leaders, have been listed in this year's Forbes Middle East 200 Most Powerful Arab Women.

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Education, HR & Training

Enec, Abu Dhabi Polytechnic sign training deal

The Emirates Nuclear Energy Corporation has signed an deal with the Abu Dhabi Polytechnic on a joint vocational training programme that will be instrumental in developing a skilled Emirati workforce to support UAE’s nuclear energy industry.

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Miscellaneous

BAE awards contract to train Oman military pilots

BAE Systems has awarded US-based L-3 Communications a contract to develop a training programme for pilots of Royal Air Force of Oman (RAFO) to operate BAE’s advanced jet trainer aircraft.

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