Monday 4 May 2015

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OPERATIONS BY MID-2018
Orascom, Bombardier to build $1.5bn monorail in Egypt

Canada's Bombardier and Egypt's Orascom Construction and Arab Contractors will build a $1.5 billion monorail near Cairo, Egypt's housing minister said.

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1

FLIGHT LANDS SAFELY
Airliner diverted to UAE airbase after blast warning

An Air Arabia airliner flying from Kuwait to the United Arab Emirates was diverted to a UAE military airbase on Sunday after a passenger warned the plane was about to explode, the UAE state news agency WAM reported.

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2

NEW CONCEPT FOR DUBAI
Nakheel, RIU plan 750-room beachfront resort

Dubai-based master developer Nakheel is to partner with Spain’s RIU Hotels & Resorts, one of the world’s biggest all-inclusive hotel operators, to build a 750-room beachfront resort at Dubai's Deira Islands.

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3

ANALYSIS
Lower oil prices may spur the Gulf to diversify

Low crude production costs and fiscal breakeven prices will support the GCC in a period of low oil prices increasing the pressure to diversify away from the hydrocarbon sector, a report said.

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4

ANALYSIS
Dubai: The Metro Effect

There was no obvious price impact on buildings in the close proximity to Dubai metro stations in two major communities, though a rise in transactional activity was witnessed during the time of the completion of the metro, a report said.

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5

NEWS IN PICTURES
New retail destination

Dubai-based luxury real estate developer Damac Properties will unveil details of its new lifestyle and retail strip ‘Vista Lux’ at the Arabian Travel Market (ATM) exhibition, which opens in Dubai tomorrow (May 4).

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate
Retail & Wholesale

Retail boom, housing to drive ME real estate market

The rising demand for destination retail and affordable housing is likely to drive the growth of real estate market in Middle East region which is likely to hit $113 billion by 2019, said a report.

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Energy, Oil & Gas

Arab Energy readies for floating power plant

Arab Energy is finalising approvals to deliver the first floating 200MW power plant worth $180 million, which will be located in an Egyptian port, a report said.

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Finance & Capital Market

Kipco Q1 net profit surges 17pc

Kuwait Projects Company (Kipco), the country's largest investment company, has registered a net profit of KD12 million ($40 million) for the first three months, up 17 per cent over KD10.3 million ($34.3 million) for the same period last year, said a repor

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Analysis, Interviews, Opinions

Lower oil prices may spur the Gulf to diversify

Low crude production costs and fiscal breakeven prices will support the GCC in a period of low oil prices increasing the pressure to diversify away from the hydrocarbon sector, a report said.

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Industry, Logistics & Shipping

Sahara affiliate restarting plant

An affiliate of Sahara Petrochemicals is working on restarting a petrochemical plant after scheduled maintenance, Sahara said on Sunday.

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Travel, Tourism & Hospitality

Mövenpick to manage 2nd property in Riyadh

Mövenpick Hotels & Resorts, a major Swiss hospitality firm, recently signed an agreement to manage its second property in Riyadh, marking its second hotel in the Saudi capital and its 13th in the kingdom.

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IT & Telecommunications

DSOA-Intel lab to boost smart city development

Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), has signed an agreement with Intel to jointly establish a lab that will support the development of a smart city center of excellence and innovation.

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Motoring

Abu Dhabi fines 11,000 over traffic violations

The Abu Dhabi police has issued more than 11,000 traffic fines in the first quarter for technical glitches including worn-out tyres; gas emissions that exceed specified standards and using broken indicators or lights.

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Health & Environment

Sanofi in deal to train UAE family physicians

The World Organisation of Family Medicine (Wonca) East Mediterranean Region and Sanofi, a global healthcare leader, have signed a two-year agreement to deliver a series of educational training sessions to family physicians in the UAE.

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Media & Promotion

Bahrain King hails role of journalists

Bahrain’s His Majesty King Hamad reiterated full support to the rights of journalists and media personnel in performing their noble duty and expressing their opinions freely, independently and responsibly.

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Education, HR & Training

Unemployment in Bahrain drops to 3.8pc

Unemployment in Bahrain has dropped to 3.8 per cent, said the kingdom’s Labour Minister, adding that the ministry plans to put more emphasis on making Bahrainis more appealing to businesses.

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Miscellaneous

Third Point buys key stake in Yum! Brands

Billionaire investor Daniel Loeb said his hedge fund Third Point has bought a major stake in Yum! Brands sending the fast-food restaurant company's stock up nearly seven per cent.

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