Monday 15 September 2014

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DECEMBER DATE SET
Dubai to host Asian Tour, top golf event

The Asian Tour, the principal men's professional golf tour in the continent, will make its first foray into the Middle East with its new season-ending tournament in Dubai, UAE, in December.

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1

STABILITY KEY FOR GROWTH
Egypt tourism 'could fully recover by end-2015'

Egypt's tourism industry, battered by three years of political upheaval and street protests, could fully recover by the end of 2015 if current levels of stability persist, the tourism minister said.

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2

DEAL WORTH $966m
Saudi Arabian fund to buy Posco unit stake

South Korean steelmaker Posco is considering selling part of its stake in construction unit to an unidentified Saudi Arabian fund in a deal worth nearly 1 trillion won ($966.28 million), said a senior official.

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3

ANALYSIS
Mena reinsurance markets stay on growth track

Growing insurance premiums and a relatively low exposure to natural perils are the main attractions which are driving the unabated growth of Mena reinsurance markets, a report said.

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4

MIDEAST DEBT
Conventional banks' sukuk to push limits of Islamic finance

Islamic bond programmes from a trio of big conventional banks are set to expand the boundaries of Islamic finance, helping open the market to first-time issuers while testing the banks' ability to win over industry purists.

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5

IMAGE OF THE DAY
Miss America 2015

Miss New York Kira Kazantsev (front) reacts as she is crowned the winner of the 2015 Miss America Competition by Miss America 2014 Nina Davuluri in Atlantic City, New Jersey on September 14.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate
Retail & Wholesale

Spinneys to launch 300 own-label products globally

Spinneys, a leading retailer in the Middle East, plans to launch more than 300 consumer and food private label products for export to global markets, predominantly in Asia, Africa and Mena.

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Energy, Oil & Gas

Fuji Electric starts work on Dilmunia substation

Work has begun on the primary substation serving the landmark Dilmunia, a health and well-being project in Bahrain, with the awarding of a supply and installation contract to global energy solutions provider Fuji Electric.

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Finance & Capital Market

Saudi, Oman lead GCC salary hike forecast

Saudi Arabia and Oman based companies gave the highest salary increase projection among GCC countries for 2015 at 5.4 per cent each, a slight decrease from the 2014 predictions, a report said.

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Analysis, Interviews, Opinions

Wearables – consumer fad or business innovation?

While some consumers have incorporated the burgeoning wearables technology into their daily lives, enterprises are seeing much bigger opportunities in deploying the technology that could save billions of dollars, a report said.

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Industry, Logistics & Shipping

Saudi Arabian fund to buy Posco unit stake

South Korean steelmaker Posco is considering selling part of its stake in construction unit to an unidentified Saudi Arabian fund in a deal worth nearly 1 trillion won ($966.28 million), said a senior official.

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Travel, Tourism & Hospitality

Hamad International Airport deploys 62 eGates

The Hamad International Airport in Doha, Qatar, is now the airport with one of the the largest numbers of automated border control (ABC) eGates in the world, according to the company that implemented the system.

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IT & Telecommunications

LTE networks ‘face massive BYOD security threat’

The rapid growth of the BYOD market, coupled with an explosion in 4G networks fed by small cell deployment, is creating an IT security threat that the global market needs to urgently address, warned an industry expert.

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Government & Laws

Qatar expels 7 Brotherhood leaders

Qatar has asked seven senior figures from Egypt's outlawed Muslim Brotherhood to leave the country, following months of pressure from its neighbours to stop backing the Islamists, a report said.

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Health & Environment

Hikma opens oncology plant in Jordan

Hikma Pharmaceuticals, a multinational group, recently opened its chemical plant for oncology active pharmaceutical ingredients (API) specialised in producing effective raw materials for cancer medications.

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Media & Promotion

Manufacturing industry sets new coin mosaic record

The manufacturing industry made history by breaking the Guinness World Record for the "world's largest coin mosaic" during the International Manufacturing Technology Show (IMTS), in the South Parking Lot A-2 of Soldier Field in Chicago, IL.

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Education, HR & Training

Garmco, Tamkeen in deal to train Bahraini staff

Bahrain-based Gulf Aluminium Rolling Mill Company (Garmco), one of the largest downstream aluminium facilities in the Middle East, has signed an agreement with Tamkeen, the kingdom’s labour fund, to train all its Bahraini employees.

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Miscellaneous

DMCA to host maritime summit in Dubai

Dubai Maritime City Authority (DMCA), the government authority charged with regulating, coordinating and supervising all aspects of Dubai’s maritime sector, will be launching the first-of-its-kind global maritime summit in Dubai, UAE.

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