Thursday 24 July 2014

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ROBUST GROWTH IN ALL UNITS
Majid Al Futtaim H1 revenues up 14pc to $3.5bn

Dubai-based Majid Al Futtaim (MAF) today reported a 14 percent increase in first-half revenues, citing growing earnings across its business units.

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1

SUPPLY DIMINISHING
Dubai office rents continue to rise: CBRE

Dubai’s office rents are continuing to rise due to the growing economy and increasing business confidence, according to a CBRE report.

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2

NEW TURNAROUND PLAN
Jet Airways, Etihad map joint strategies for India

Jet Airways, India’s premier international airline, and Etihad Airways, the national airline of the UAE, have outlined plans to reinforce their long-term commitment to India’s aviation industry.

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3

SPOTLIGHT
Mideast firms face $91bn refinancing needs

Middle East investment grade companies are facing refinancing needs of about $91 billion from bank and bond debt due to mature over the next four years, according to a recent report.

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4

BREAKINGVIEWS
Saudi opening will put Mideast on global investor map

The opening of Saudi Arabia's $530 billion stock market to foreigners will finally put the Middle East on the investor map.

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5

IMAGE OF THE DAY
It's cool...

Tosta, a Staffordshire bull terrier cross, shakes off water after a swim in the sea during the hot summer day by Brighton pier in southern England.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate
Retail & Wholesale
Finance & Capital Market

Bahrain insurance premiums grow 8pc

Bahrain insurance market has posted a gross premium increase of eight per cent to register BD258.41 million ($681.7 million) last year, compared to the previous year, according to the Central Bank of Bahrain.

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Industry, Logistics & Shipping

Savola in talks to sell packaging unit to Takween

Saudi Arabia's Savola Group has signed a non-binding agreement to sell its packaging business to Takween Advanced Industries, as it moves to focus on its core sectors of food and retailing, it said on Wednesday.

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Travel, Tourism & Hospitality

Mideast hotel occupancy reaches 64pc in H1

The Middle East and Africa region has reported a one per cent increase in hotel room occupancy to 64.6 per cent in the first half of the year, according to an STR Global report.

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Government & Laws

Qatar Emir meets Saudi King in Jeddah

Qatar's Emir Sheikh Tamim bin Hamad Al-Thani arrived in Jeddah on Tuesday to meet Saudi Arabia's King Abdullah for talks that focused on the situation in Gaza, according to SPA, the Saudi press agency.

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Motoring

Audi to introduce lightweight springs

Audi plans to introduce new, lightweight suspension springs made of glass fibre-reinforced polymer (GFRP) in an upper mid-size model before the end of the year, reinforcing its leading role in automotive lightweight construction.

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Health & Environment

Dubai hospital offers new treatment for heart condition

A new surgical treatment is now available at the American Hospital Dubai to treat heart arrhythmia, which occurs when the heart beats irregularly and cannot pump blood effectively, putting vital organs at risk.

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Media & Promotion

GfK wins electronic TAM deal in Morocco

Germany-based GfK, a leading provider of audience measurement services, has won a tender with Morocco’s joint industry committee ‘Ciaumed,’ to deliver an electronic TV audience meausurement service (TAM) in the country.

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Education, HR & Training

BAETC, GAA sign aviation training deal

BAS Aircraft Engineering Training Centre (BAETC), fully-owned and operated by Bahrain Airport Services (BAS), has signed a memorandum of understanding (MoU) with aviation training provider Gulf Aviation Academy (GAA).

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Miscellaneous

Marmum to boost juices export

Marmum Dairy Farm, a subsidiary of Dubai Investments (DI) and one of the leading dairy brands in the UAE, has announced plans to export over 1.8 million litres of its Raha long-life juices across the Middle East and Africa this year.

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