Sunday 23 November 2014

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ROOM STOCK ‘MUST DOUBLE’
Dubai needs 280 hotels to meet target of 20m visitors

Dubai is facing a serious challenge posed by the need for 283 new hotels to be delivered between 2014 and 2020 to accommodate its target of 20 million visitors by the end of the decade, a report said.

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1

Dy CEO TO RUN OPERATIONS
Mobily suspends CEO after earnings debacle

Saudi Arabia's Etihad Etisalat (Mobily) has suspended its chief executive Khalid Al-Kaf, the kingdom's No 2 telecom operator by subscribers said on Sunday.

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2

FOCUS ON ENERGY, TANSPORT
Egypt hopes to attract $12bn at investment summit

Egypt hopes to attract investment of $10-$12 billion in 20 projects, including in energy, transport and water, at a major conference in mid-March, the minister for international cooperation said on Saturday.

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3

ANALYSIS
Opec keeps oil markets guessing on output move

Oil analysts are putting down markers on the Organisation of the Petroleum Exporting Countries' (Opec) meeting on November 27, when members will consider whether to cut output to shore up prices.

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4

TECHNOLOGY
Cellphone trackers to feature altitude data

Cellphones have doubled as tracking devices, capable of revealing your location to police, paramedics, even grocery stores looking to deliver coupons to customers. But there’s a measurement cellphones once struggled to make: altitude.

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5

IMAGE OF THE DAY
Alms round

About 10,000 Buddhist monks walk in lines past believers to collect donations during a mass alms-offering ceremony in Bangkok's shopping district on November 23.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

BAM wins Abu Dhabi marine infrastructure project

BAM International, the operating company of leading European construction-services firm Royal BAM Group, said it has won a marine infrastructure project from Abu Dhabi Company for Onshore Oil Operations (Adco).

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Energy, Oil & Gas

Oil up first time in 8 weeks on China rate cut

Oil prices rose on Friday for their first weekly gain in two months with benchmark Brent crude returning to above $80 a barrel after a rally triggered by China's interest rate cut and speculation of an Opec output cut.

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Finance & Capital Market

Barwa Q3 net profit surges 43pc

Qatar-based Barwa Bank has registered a 43 per cent jump in its net profit for the third quarter which hit QR641 million ($176 million) compared to QR447 million ($123 million) for the same period last year.

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Analysis, Interviews, Opinions

The future of mobility

“Mobility brings freedom and progress,” said executive chairman William Clay Ford Jr. of Ford Motor Company, quoting his great-grandfather Henry Ford at the “Future of Mobility” event hosted by Dubai Chamber.

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Industry, Logistics & Shipping

Gulf petchem production hits new high

Despite major challenges, the petrochemical and chemical production in the Gulf region surged to more than 140 million metric tons (MT) during 2013, said an industry expert.

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Travel, Tourism & Hospitality

Bahrain gears up for a busy cruise season

Almost double the number of ships are due to visit Bahrain this cruise season compared with last, but the country is still falling short of its pre-unrest visitor figures.

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IT & Telecommunications

Ericsson boosts Turkcell app coverage

Ericsson, a world leader in communications technology, said it has joined hands with leading mobile phone operator Turkcell to improve the App Coverage in the country with Wi-Fi/Cellular real time traffic steering.

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Lifestyle

Panerai launches two special edition timepieces

Italian timepiece manufacturer Officine Panerai has launched two new Special Edition watches, sold exclusively at the new Panerai boutique Located at Moda Mall in Manama, Bahrain.

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Motoring

Rosberg beats Hamilton to Abu Dhabi F1 pole

Nico Rosberg beat title favourite Lewis Hamilton to pole position for the decisive Abu Dhabi Formula One Grand Prix on Saturday as the dominant Mercedes team mates locked out the front row in qualifying.

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Health & Environment

Plague outbreak kills 40 in Madagascar

An outbreak of the plague has killed 40 people out of 119 confirmed cases in Madagascar since late August and there is a risk of the disease spreading rapidly in the capital, the World Health Organization (WHO) said.

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Media & Promotion

IBM to launch enterprise email with cloud, social

IBM is reinventing enterprise email with a new freemium social collaboration offering that uses built-in analytics to give employees a new way to converse, find the right people and information fast, and get work done.

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Education, HR & Training

QIA to set up training academy to hone Qatari youth

Qatar Investment Authority (QIA), the country's sovereign wealth fund, has planned to set up a training academy to sharpen Qatari youth's financial and business skills, according to a report.

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Miscellaneous
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