Sunday 20 April 2014

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IRAQNA ROW
Zain sued for $4.5bn over Iraq telco buy

Zain is being sued for $4.5 billion over its 2007 acquisition of an Iraqi telecom operator, the Kuwaiti firm said in a bourse statement on Sunday.

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1

SOME CASES IN UAE TOO
Jump in new cases of deadly Mers virus in Saudi

Saudi Arabia has confirmed seven new cases of Middle East Respiratory Syndrome (Mers), adding up to 36 infections in five days, a sudden increase of a disease that kills about a third of the people infected and has no cure.

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2

TRANSACTIONS HIT $9.5bn
Emiratis, Indians top real estate investments in Dubai

Emiratis ranked highest among all investors in Dubai during the first quarter of 2014, in terms of the value of investments, with Indians being the largest number of foreign investors.

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3

ANALYSIS
Global sukuk market 'lacks integration'

The sukuk market operates as a collection of local markets because of lack of integration and the Malaysian market remains the strongest by far, according to a Standard & Poor's Ratings Services report.

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4

ANALYSIS
Non-oil sector boosting Abu Dhabi housing market

Growth in key non-oil sectors such as tourism, hospitality, education and healthcare is translating into robust demand in terms of the volume and nature of property requirements in Abu Dhabi, a report said.

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5

IMAGE OF THE DAY
Reunited!

Nicolas Henin (L), former French hostage and journalist, is greeted by his daughter moments after his arrival in Villacoublay, near Paris. Henin and three other French journalists were held hostage in Syria since June.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Qatar tenders mega water reservoirs project

Qatar’s General Electricity and Water Corporation (Kahramaa) has announced the tender for the construction of five primary reservoir and pumping station (PRPS) packages as part of its water security mega reservoirs project.

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Retail & Wholesale

Sharjah expo to feature 450 jewellers

Nearly 450 jewellers from more than 20 countries will be displaying gold and diamond jewellery, precious stones, pearl sets, gemstones and branded watches at the upcoming MidEast Watch & Jewellery Show in Sharjah.

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Energy, Oil & Gas

Saudi Electricity Q1 net loss widens 39pc

Saudi Electricity Co (SEC) reported a significant widening of its net loss for the first quarter on Sunday, as the utility saw costs increase and the value of some of its fixed assets decline.

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Finance & Capital Market

Qatar GDP may hit $230bn this year

Qatar's gross domestic product (GDP) is expected to touch $230 billion in the current fiscal as the country is expected to achieve a 6-7 percent growth rate for 2014-15, a report said.

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Analysis, Interviews, Opinions

Global sukuk market 'lacks integration'

The sukuk market operates as a collection of local markets because of lack of integration and the Malaysian market remains the strongest by far, according to a Standard & Poor's Ratings Services report.

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Industry, Logistics & Shipping
Travel, Tourism & Hospitality

Kyoto opens tourism office in Dubai

Japan's Kyoto City has opened a promotional office in Dubai to encourage Gulf nationals and residents to visit Japan’s ancient capital for holidays and leisure.

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IT & Telecommunications

Zain sued for $4.5bn over Iraq telco buy

Zain is being sued for $4.5 billion over its 2007 acquisition of an Iraqi telecom operator, the Kuwaiti firm said in a bourse statement on Sunday.

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Government & Laws

New rules to protect foreign workers in Bahrain

Bahrain’s Labour Market Regulatory Authority (LMRA) has introduced new rules for recruitment agencies, which will require them to deposit BD10,000 ($26,500) in a bank account for dealing with problems involving foreign workers.

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Health & Environment

Jump in new cases of deadly Mers virus in Saudi

Saudi Arabia has confirmed seven new cases of Middle East Respiratory Syndrome (Mers), adding up to 36 infections in five days, a sudden increase of a disease that kills about a third of the people infected and has no cure.

More…
Media & Promotion

Kuwaiti papers suspended over 'plot' reports

A judge has suspended two Kuwaiti newspapers for two weeks after they published stories about a recording that discusses an alleged plot to overthrow the Gulf state's ruling system, their editors said on Sunday.

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Miscellaneous

At $65bn, Saudi among top four military spenders

Saudi Arabia is among the four highest military spenders globally, according to a new report by Stockholm International Peace Research Institute (SIPRI).

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