Monday 30 March 2015

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1,000 PETROL STATIONS IN PLAN
Qatar firms to buy 49pc of China petchem stake for $5bn

Qatar's Qatra for Investment & Development (QID Group) and Hamad Bin Suhaim Enterprises have signed an initial deal to acquire 49 per cent of China's Shandong Dongming Petrochemical Group worth $5 billion, executives from the firms said.

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1

AIR STRIKES NEAR SANAA PALACE
Fighting in Aden as Yemen's Houthis make gains

Iran-allied Houthi militiamen pushed into the northeastern outskirts of the Yemeni port city of Aden on Monday amid heavy clashes with loyalists of President Abd-Rabbu Mansour Hadi, sources on both sides said.

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2

FINANCIAL FLEXIBILITY
Aramco signs $10bn revolving credit facilities deal

Saudi Aramco has signed a new $10 billion standby revolving credit facilities agreement as part of the company’s strategy of maintaining financial flexibility.

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3

ANALYSIS
Oil prices to stabilise in H2 as demand rises

Oil prices should stabilise in the second half of this year and rise in 2016 and 2017 as consumers respond to a period of much cheaper fuel, a report said.

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4

ANALYSIS
Smart city industry projected at $400bn by 2020

Smart cities industry, which offers solutions to cope with water and energy shortages, higher air pollution and other challenges due to rapid urbanization, is projected to be worth more than $400 billion by 2020, according to experts.

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5

IMAGE OF THE DAY
Defying gravity

Yamaha MotoGP rider Valentino Rossi of Italy rides his bike during the Qatar MotoGP Grand Prix at the Losail International circuit in Doha on March 29.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Al Shafar wins UAE national museum contract

UAE-based Al Shafar General Contracting said it has been awarded a major contract by the Roads and Transport Authority (RTA) to build the Union Museum, a national project that will chronicle the history of the UAE, in Dubai.

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Retail & Wholesale

Majid Al Futtaim to mark decades of milestones

UAE-based Majid Al Futtaim (MAF), the leading shopping mall, retail and leisure pioneer across the Mena region, plans to mark this year two decades of historic moments in its operations in the region.

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Energy, Oil & Gas

Advanced drillships a burden for owners as business dries up

Not so long ago, advanced drillships costing more than half a billion dollars each and capable of operating in ever-deeper waters practically guaranteed big profits for oil-rig operators.

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Finance & Capital Market

UAE to allow 100pc foreign ownership of firms

The United Arab Emirates is at an advanced stage of drafting a foreign investment law to allow 100 per cent foreign ownership of businesses in some sectors, the country's economy minister said at a conference on Monday.

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Analysis, Interviews, Opinions

UAE Islamic banking assets to hit $263bn by 2019

The UAE is en route to achieve $263 billion of Sharia-compliant assets by 2019, thus making it the third largest Islamic banking market by value after Saudi Arabia and Malaysia, according to a new report.

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Industry, Logistics & Shipping

Sipchem set to begin output at new plastics plant

A unit of Saudi International Petrochemical Company (Sipchem) will start commercial operations at its ethylene-vinyl acetate (EVA) and low-density polyethylene plant on Wednesday, Sipchem said.

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Travel, Tourism & Hospitality

Passenger traffic at Dubai airport hits 6m in Feb

Passenger traffic continued to grow steadily at Dubai International during February, increasing 5.3 per cent to nearly 6 million passengers, according to the latest traffic report issued by operator Dubai Airports.

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IT & Telecommunications

Hitachi Data Systems partners with Qatar CGC

Japan-based Hitachi Data Systems Corporation said it signed a partnership agreement with Qatar-based technology and engineering conglomerate Consolidated Gulf Company (CGC).

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Lifestyle

Rasasi Perfumes to expand in luxury segment

Rasasi Perfumes, one of the leading perfume brands in the Middle East, plans to further consolidate its presence in the luxury perfume segment in wake of a robust demand for more premium perfumes across the region.

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Motoring

Bosch launches new motorcycling unit

Bosch to pool its motorcycle activities from the areas of riding safety systems, powertrain technology, and display instruments into one business unit, the newly formed “Two-Wheeler and Powersports”.

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Health & Environment

Global researchers for Qatar medical congress

International researchers and leading medical companies to the region will introduce their latest medical discoveries to improve the healthcare sector at an upcoming medical congress in Doha, Qatar.

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Media & Promotion

Dubai govt achievements show kicks off today

The third Dubai Government Achievements Exhibition (DGAE) opens today (March 30) with the number of participants increasing from 14 to 32 in this year's edition, marking a rise of 44 per cent.

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Education, HR & Training

Airways Aviation opens new pilot training school in Iraq

Leading global pilot training academy Airways Aviation is opening its latest Aviation Theory School in Baghdad, Iraq, later this month, paving the way for aspiring Iraqi pilots to launch their flying careers.

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Miscellaneous

Burger Hood opens new Dubai outlet

Burger Hood, a leading high-end gourmet burger venue offering customers delicious and locally sourced healthy food, has launched its Dubai outlet in Jumeirah 1.

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