Tuesday 1 September 2015

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KEY US DATA AWAITED
Oil sinks 3pc as investors retreat from gains

Oil prices fell three per cent in Asian trade on Tuesday, with investors covering short positions and taking profits after Brent and US crude soared more than eight per cent in the previous session.

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1

'KINGDOM COPING WELL'
Rising oil output boosts Saudi economic growth

Rising oil output boosted Saudi Arabia's economic growth to its fastest pace in over a year in the second quarter of 2015, data showed, but growth looks likely to slow in coming months as low oil prices make themselves felt.

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2

METROS ‘TAKING PRIORITY’
GCC rail network project development ‘sluggish’

The GCC states must decide soon on the fate of the long-awaited Gulf railway network if it is to be operational by 2020, a report said, adding that efforts to develop the ambitious track that would link the six states have been sluggish.

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3

ANALYSIS
Egypt's Zohr gas re-writes Israel's happy ending

Egypt's historic gas discovery threatens to sink Israel's fledgling gas export bonanza, which was counting on deals with Cairo to get it off the ground.

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4

ANALYSIS
ME funds positive on stocks as valuations improve

Middle East fund managers have turned more positive towards equities in the region after a plunge in markets reduced valuations and oil prices rebounded, a report said.

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5

NEWS IN PICTURES
Celebrating Emirati women

Dubai Electricity and Water Authority (DEWA) Women’s Committee recently organised the First Emirati Women’s Forum, in celebration of Emirati Women's Day.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Saudi Arabia inks key construction contracts

Saudi Arabia has announced plans to construct nine buildings and various centers for Islamic organizations across the Kingdom at an estimated cost of SR35 million ($9.32 million), said a report.

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Retail & Wholesale

YotaPhone 2 price reduced

Yota Devices has announced a reduction in the price of its YotaPhone 2, the world’s first "two-fronts" smartphone with the Always-On Display feature.

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Energy, Oil & Gas

Iran to finalise new oil contracts model in weeks

Iran expects to finalise the wording for a new model for international oil contracts in the next three weeks, the oil minister said on Monday, as Tehran seeks to boost recovery from its fields with the help of foreign companies.

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Finance & Capital Market

EIIB-Rasmala sets $125m target for new fund

EIIB-Rasmala, a leading asset management and financing group, announced the first closing of its Rasmala Leasing Fund 2, with a target of $125 million in capital commitments.

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Analysis, Interviews, Opinions
Industry, Logistics & Shipping

RSA-Talke breaks ground on key chemical facility

RSA-Talke, a joint venture between Dubai-based RSA Logistics and the German group Alfred Talke Logistic Services, has broken ground on its integrated chemicals facility in Jebel Ali Free Zone, close to Dubai World Central.

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Travel, Tourism & Hospitality
IT & Telecommunications

Cyberoam awards MEA region partners at Amsterdam

Cyberoam, a leading provider of network security appliances, has awarded its Middle East and Africa (MEA) region partners for their contribution in marketing, sales and distribution.

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Health & Environment

Nexthink to manage UAE Health Ministry's IT infrastructure

UAE's Ministry of Health has selected Nexthink to manage its information technology (IT) infrastructure more efficiently and meet the strategic directives of the country's leadership.

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Education, HR & Training

Abunayyan launches recruitment portal

Abunayyan Holding, a family-owned Saudi conglomerate, has launched an online portal to attract top talent while also reducing recruitment time by up to 50 per cent.

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