Tuesday 27 January 2015

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REVENUE JUMPS 11pc
Majid Al Futtaim aims to double in size after strong 2014

Dubai-based mall operator Majid Al Futtaim signalled on Tuesday it expects the emirate to remain a magnet for shoppers, announcing plans to double its business within five years as it reported strong results for 2014.

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1

FUSELAGE DAMAGED
Flydubai plane shot at; UAE bans flights to Baghdad

The UAE aviation authority has issued a ban on flights to the Iraqi capital Baghdad after shots were fired at a flydubai flight which landed at Baghdad International Airport from Dubai, UAE, on Monday.

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2

'TIME FOR FISCAL DISCIPLINE'
Aramco to renegotiate contracts; put off projects

Saudi Aramco will renegotiate some contracts and postpone some projects due to falling oil prices, the head of Saudi Arabia's state oil company said on Tuesday.

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3

ANALYSIS
Mena bond markets to remain investor focus in 2015

Mena equity markets will have a challenging 2015, while lower than expected oil prices will continue to adversely impact market performance and bond markets remain a key focus for local liquidity, a report said.

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4

SPOTLIGHT
Mideast partnerships boost football club revenues

Middle Eastern commercial partnerships contributed significantly to revenue increases of many top football clubs last season, according to a study.

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5

IMAGE OF THE DAY
Pulling along in snow

Alexander Valeur of Denmark and Katia Borredo from Mexico carry their baggage through a snowstorm in Times Square, New York early morning on January 27. A blizzard barreled into the US Northeast, affecting thousands of flights.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Saudi, Egypt groups to build industrial complex

Leading businessmen from Saudi Arabia and Egypt are planning to build an industrial complex at an investment of E£500 million ($68.4 million) in the north African country, said a report.

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Retail & Wholesale

Samsung showcases next-gen solutions at CES

Samsung Electronics showcased its next generation devices and services, led by an 88-inch SUHD TV and Milk VR virtual reality video service at a media event at the recent International Consumer Electronics Show (CES) in Las Vegas.

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Finance & Capital Market

BisB extends Visa partnership for 5 years

Bahrain Islamic Bank (BisB) has signed a strategic agreement with Visa, a global leader in electronic payments, to further enhance the bank's partnership with it for another five years.

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Analysis, Interviews, Opinions

Mena bond markets to remain investor focus in 2015

Mena equity markets will have a challenging 2015, while lower than expected oil prices will continue to adversely impact market performance and bond markets remain a key focus for local liquidity, a report said.

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Industry, Logistics & Shipping

Minelab sets up new facility in Dubai

Minelab, a metal-detecting technologies provider, has opened a new facility in Dubai, UAE, as part of a $2 million investment recognising Dubai as a strategic hub for its gold business in the Middle East and North Africa.

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Travel, Tourism & Hospitality

Flydubai plane shot at; UAE bans flights to Baghdad

The UAE aviation authority has issued a ban on flights to the Iraqi capital Baghdad after shots were fired at a flydubai flight which landed at Baghdad International Airport from Dubai, UAE, on Monday.

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IT & Telecommunications

Microsoft profits fall on sluggish Windows

Microsoft Corp on Monday reported a fall in its quarterly profit, as sluggish personal computer sales dampened demand for Windows software and the company struggled with the impact of the strong US dollar.

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Lifestyle

Paris Gallery plans major regional expansion

Paris Gallery, the flagship retail brand of the Paris Gallery Group of Companies, the leading luxury retailer in the GCC, is set to expand with new stores in the region, backed by major plans to refurbish existing branches, its CEO said.

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Health & Environment

Siemens Healthcare showcases latest devices at Arab Health

Siemens Healthcare is showcasing its latest imaging and therapy portfolio – from a digital mobile X-ray system with interchangeable detectors to a new 1.5-tesla MRI scanner with reduced operating costs, at the on-going Arab Health 2015.

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Media & Promotion

Facebook unit forms virtual-reality film studio

Facebook's Oculus VR is getting into movies with an in-house studio dedicated to making virtual-reality films and premiered its first short piece at the Sundance Film Festival on Monday.

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Education, HR & Training

Etihad to offer 6,000 jobs to UAE nationals

Etihad Airways will offer jobs to more than 6,000 UAE nationals over the next five years as part of its UAE national development strategy, the airline said. The jobs will span the entire spectrum of the airline’s operations.

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Miscellaneous

Oman inks deals worth $170m to lift aquaculture

Oman’s Ministry of Housing has signed three agreements worth RO66 million ($170.7 million) which will help boost aquaculture production in the Sultanate from 353 tonnes in 2013 to 7,330 tonnes per year, a report said.

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