Wednesday 8 July 2015

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SANCTIONS ISSUE HEATS UP
Iran nuclear talks extended through Friday

Iran and major powers gave themselves at least until Friday to negotiate an agreement on the Iranian nuclear programme, but a source from one of the powers said on Tuesday they had to wrap up in the next 48 hours.

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1

20-YEAR CONTRACT
Sadara signs $3.7bn Saudi power supply deal

Saudi Arabia's Sadara Basic Services said that its parent firm signed a SR14.13 billion ($3.77 billion) deal with Saudi Electricity Company to supply electric power to its chemicals complex in Jubail Industrial City.

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2

BID TO BROKER TRUCE
200 killed in heavy Saudi-led air strikes across Yemen

Saudi-led coalition air strikes and clashes killed at least 176 fighters and civilians in Yemen on Monday, media run by the Houthi movement said, the highest daily toll since the Arab air offensive began more than three months ago.

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3

SPECIAL REPORT
Mideast Internet usage to grow six-fold by 2019

Internet usage in the Middle East and Africa (MEA) will grow six-fold by 2019 at a compound annual growth rate of 44 per cent, driven by increasing mobile access and demand for video services, a report said.

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4

SPECIAL REPORT
10 climate actions urged to curb warming, lift GDP

More efficient energy use and investments in greener cities are among 10 measures that can help the world to slow global warming while also spurring economic growth, an international report said on Tuesday.

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5

NEWS IN PICTURES
View from the top

Greig Littlewood and Nigel How, both commercial rope access technicians at UK’s Avalon, abseiled down the 251-metre Conrad Hotel Dubai in a partnership operation to help prepare for London’s major expansion into the sky.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Cayan breaks ground on new Riyadh project

Cayan Group, one of the leading real estate developers in the Middle East, said it has broken ground on CMC, its high-end project in Riyadh, Saudi Arabia.

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Retail & Wholesale

Home fashion brand ‘THE One’ to open store in Bahrain

CBRE Group has signed a deal with ’THE One,’ a leading home fashion brand in the Middle East, to open its third store in the region for the brand’s new discount line at the Enma Mall in Bahrain.

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Energy, Oil & Gas

Oil prices stabilise after massive selloff

Crude oil prices steadied on Tuesday, after posting one of their biggest selloffs this year the previous session over Greece's rejection of debt bailout terms and China's stock market woes.

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Finance & Capital Market

Saudi bank Samba trims H1 dividend

Samba Financial Group, Saudi Arabia's third-largest bank by assets, said on Tuesday its board had recommended paying a 0.45 riyals ($0.12) per share dividend for the first half of 2015.

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Analysis, Interviews, Opinions

Mideast Internet usage to grow six-fold by 2019

Internet usage in the Middle East and Africa (MEA) will grow six-fold by 2019 at a compound annual growth rate of 44 per cent, driven by increasing mobile access and demand for video services, a report said.

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Industry, Logistics & Shipping

RAK free trade zone opens 100 new warehouses

Ras Al Khaimah Free Trade Zone (RAK FTZ) has opened 100 new warehouses in its technology park, for clients involved in trading as well as light and medium industrial manufacturing.

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Travel, Tourism & Hospitality

Mövenpick boosts presence in Jeddah

International hospitality firm Mövenpick Hotels & Resorts is expanding its Saudi Arabian portfolio with the addition of a fourth property in the kingdom’s thriving city of Jeddah.

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IT & Telecommunications

UAE Exchange to enhance customer experience with SAP

UAE Exchange, a leading money transfer, foreign exchange and payment solutions brand, has selected the SAP Cloud for Customer (C4C) platform, to enhance the customer experience and increase market penetration.

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Health & Environment

Ebola-hit nations need $700m to rebuild healthcare

Guinea, Liberia and Sierra Leone need a further $696 million in donor funding to rebuild their battered health services over the next two years in the wake of the deadly Ebola epidemic, senior WHO officials said on Monday.

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Media & Promotion

Khalifa Fund launches accounts on social media

UAE-based Khalifa Fund for Enterprise Development has launched its official accounts on different social media channels as part of its commitment to adapt different media methods.

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Education, HR & Training

UAE Education Ministry unveils new organisational structure

UAE’s Ministry of Education has endorsed and revealed details of its new organisational structure, aimed at making education a top priority within the country’s agenda for strategic and ambitious development.

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Miscellaneous

Fifa bans Qatar-Russia bid inspector for 7 years

Harold Mayne-Nicholls, who led the teams which inspected bids to host the 2018 Russia and 2022 Qatar World Cups, has been banned from all football-related activities for seven years, Fifa's ethics committee said.

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