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UAE CARRIER TO BUY 24pc STAKE
Jet Airways shareholders approve Etihad deal
Shareholders in India's Jet Airways approved an agreed sale of a 24 per cent stake in the airline to Abu Dhabi's Etihad Airways, a senior executive at the Indian carrier said on Friday.
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OIL REVENUES SOARING
Saudi foreign assets hit record $668.2bn
Saudi Arabia central bank's net foreign assets surged to a record high of SR2.51 trillion ($668.2 billion) in April owing to significant boost in the oil revenues, the official data showed.
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BRIDGE LOAN
Icahn seeks up to $7bn for Dell bid
Activist investor Carl Icahn and Southeastern Asset Management have initiated talks with banks and asset managers to line up commitments for $7 billion in bridge loans to back their leveraged recapitalization proposal for Dell.
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ANALYSIS
Oil saving win-win drives Saudi solar boom
A slide in solar power costs and a surge in oil prices over last few years has made solar power a win-win strategy for Saudi: saving billions of dollars of crude for export while making electricity at less than half the cost.
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GLOBAL ECONOMY
Warning signs for China, Fed hints at curbing stimulus
Chinese factory activity shrank in May for the first time in seven months, overshadowing signs that the euro zone's downturn tempered slightly in May, business surveys showed on Thursday.
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PICTURE OF THE DAY
Havana braces for storm
Storm clouds gather over Havana's seafront boulevard 'El Malecon' May 23, 2013. Reuters/Desmond Boylan
Top Trade News
 | Industry Sectors |
Sabic unveils green plastics for construction
Saudi Basic Industries Corporation (Sabic) recently unveiled friendly plastic construction materials that are aesthetically pleasing yet practical at a leading plastics and rubber industries exhibition in China.
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Majid Al Futtaim to buy Carrefour's 25pc stake
Carrefour, Europe's largest retailer, agreed to sell its remaining 25-percent stake in a Middle East joint venture to local partner Majid Al Futtaim (MAF) for 530 million euros ($682.45 million), MAF said in a statement.
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Egypt to issue smart cards to fuel stations
Egypt will begin using smart cards in the next few weeks to distribute gasoline and diesel, Oil Minister Sherif Haddara said, in a step towards meeting IMF terms for a loan. The first smart cards will go to fuel stations and then
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Saudi foreign assets hit record $668.2bn
Saudi Arabia central bank's net foreign assets surged to a record high of SR2.51 trillion ($668.2 billion) in April owing to significant boost in the oil revenues, the official data showed.
More…
Oil saving win-win drives Saudi solar boom
A slide in solar power costs and a surge in oil prices over last few years has made solar power a win-win strategy for Saudi: saving billions of dollars of crude for export while making electricity at less than half the cost.
More…
Sabic opens new facilities in Jubail
Saudi Basic Industries Corporation (Sabic) has opened its first engineering thermoplastics facility as well as a new polypropylene compounding (PPc) plant in Jubail.
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Jet Airways shareholders approve Etihad deal
Shareholders in India's Jet Airways approved an agreed sale of a 24 per cent stake in the airline to Abu Dhabi's Etihad Airways, a senior executive at the Indian carrier said on Friday.
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90pc of passwords ‘vulnerable to hacking’
More than 90 per cent of the user-generated passwords in the Middle East are susceptible to hacking, leaving room for billions of dollars in potential damages, said experts ahead of an IT security exhibition in Dubai.
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New GCC tobacco tax ‘could fuel illicit trade’
A 100 per cent increase in duty on tobacco products in the GCC could fuel growth in illicit trade, beyond the control of police and customs authorities, as a consequence of an overnight rise in the cost of cigarettes, says a report.
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VW lists recommended retail prices in GCC
Volkswagen Middle East has announced the introduction of Recommended Retail Prices for Volkswagen genuine parts and accessories across the GCC.
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WHO warns countries not to hoard virus secrets
The World Health Organization (WHO) has warned countries with possible cases of the SARS-like novel coronavirus that they must share information and not allow commercial labs to profit from the virus, which has killed 22 people worldwide.
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Manama named 'Capital of Arab Media'
A co-operation protocol has been signed declaring Manama as the Capital of Arab Media for 2013-2014, a report said.
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Monster Gulf to hold online career fair
Monster Gulf (monstergulf.com), one of the leading online career and recruitment solutions providers, is set to hold an online career fair, developed to meet the changing needs of the jobseekers and employers alike.
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Iran seeks to speed up nuclear activity: IAEA
Iran is trying to accelerate its uranium enrichment programme, a UN nuclear report showed, but experts said it was unclear when Tehran's new machines could start operating and how efficiently they would work.
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