Friday 27 February 2015

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$71M WORTH EPC DEALS
SNC-Lavalin wins 2 district cooling contracts in Saudi

SNC-Lavalin, a leading engineering and construction group, has won two district cooling contracts in Saudi Arabia, with a combined value of approximately $71 million.

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1

TRADE TIES IN FOCUS
Saudi economy a ‘pillar of strength’ in GCC

Saudi Arabia's strong economy has a hugely positive effect on trade and investment relations with Bahrain, said the Premier.

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2

UAE ARMY BUYS 2 C-17s
$5bn deals signed at Abu Dhabi Idex

Deals worth Dh18.328 billion were signed at the International Defence Exhibition and Conference (Idex 2015), which concluded in Abu Dhabi, UAE, today.

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3

SPOTLIGHT
Drilling decline inevitable as oil price remains low

Onshore drilling is set to decline 20 per cent this year, resulting in the smallest annual production growth for six year at just one per cent, according to a report.

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4

MIDEAST MONEY
Bahrain banks on infrastructure, private sector

Bahrain's economy is holding up in the face of low oil prices as policymakers bank on infrastructure spending and the private sector to offset shrinking energy sector revenues, officials and businessmen said this week.

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5

Training in the snow

Soldiers of China's People's Liberation Army (PLA) take part in a winter training in temperatures below minus 10 degrees Celsius at China's border with Russia in Heihe, Heilongjiang province, China.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Omega Real Estate launches FM division in UAE

Omega Real Estate, a leading real-estate company owned by ‘The H Holding Enterprise,’ has launched facilities management (FM) division, to cater to growing market demand in the UAE.

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Energy, Oil & Gas

Brent approaches $61, set to end 7-month losing streak

Crude oil futures rebounded on Friday, with Brent heading for its biggest monthly gain since May 2009, as supply outages in North Sea and renewed fears of gas supply disruption in Europe supported prices.

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Finance & Capital Market

RBS shrinks investment bank, posts $5.4bn loss

Royal Bank of Scotland (RBS) will shrink investment banking operations drastically, pulling out of 25 countries across Europe, Asia and the Middle East and allowing the state-controlled lender to refocus on lending in Britain.

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Analysis, Interviews, Opinions

Bahrain banks on infrastructure, private sector

Bahrain's economy is holding up in the face of low oil prices as policymakers bank on infrastructure spending and the private sector to offset shrinking energy sector revenues, officials and businessmen said this week.

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Industry, Logistics & Shipping

Solar Impulse 2 soars across skies of Abu Dhabi

Solar Impulse 2, a solar aircraft of Swiss pioneers Bertrand Piccard and André Borschberg, has soared across the skies of Abu Dhabi, UAE, during its first test flights in the emirate recently.

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Travel, Tourism & Hospitality

UAE airlines cleared to resume Baghdad flights

The UAE's civil aviation regulator has given approval for local carriers to resume flights to Baghdad, reversing a directive that halted flights after bullets hit a Dubai plane as it landed in the Iraqi capital late last month.

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IT & Telecommunications

Cybersecurity remains a top concern in Mideast

Cybercrime has been identified as the second most common form of economic crime in the Middle East, with the region’s cybersecurity market set to grow 84 per cent to hit $9.56 billion in 2019, according to a recent PwC survey.

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Lifestyle

Two Porsches to make global debut

German sports car manufacturer Porsche will celebrate the world premiere of two extreme sports cars at the 2015 Geneva International Motor Show, which will be held in Geneva, Switzerland, from March 3 to 15.

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Motoring

General Motors to shut plant, cut jobs in Indonesia

General Motors will stop making GM-branded cars in Indonesia, a battleground for global automakers, closing an assembly plant, axing some 500 jobs and shifting its focus to sport utility vehicles (SUVs).

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Health & Environment

Decision on Ebola mass vaccination in August: WHO

An independent advisory body will decide in August at the earliest on whether to recommend widespread introduction of an Ebola vaccine, depending on results of clinical trials and the epidemic's course, the World Health Organization said.

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Media & Promotion

Egypt's Sawiris readies digital revamp for Euronews

Egyptian tycoon Naguib Sawiris is unveiling plans for his majority stake in European broadcaster Euronews - a cash injection which would be used to expand onto digital platforms and better promote the brand.

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Education, HR & Training

Online education tools use ‘results in better outcomes’

The opportunities that online education tools provide in terms of student assessment, engagement and education outcomes was discussed at the recently concluded 2015 Global Education Forum in Dubai, UAE.

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Miscellaneous

UAE firm signs $235m support deal with Oshkosh

Emirates Advanced Research and Technology Holding of the United Arab Emirates has signed a an Dh864 million ($235 million) technical support contract with Oshkosh Corp, said a top official.

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