0
Q4 PROFIT DOWN 36pc
Samsung posts lowest annual earnings in three years
Samsung Electronics on Thursday reported a 36 per cent drop in its 2014 profits compared to a year earlier, marking the South Korean firm's first annual earnings decline in three years.
1
CHINA DEMAND SLOWING
Oil near 6-year low as US stockpiles hit record high
Oil remained weak on Thursday after data showing record US stockpiles sent prices tumbling to the lowest level in nearly six years and analysts said a global glut would continue to keep the market under pressure.
2
NO RIVAL OFFER SEEN
Qatari-led group wins $4bn battle for Canary Wharf
A Qatari-led consortium looked set to win its long-running battle to buy Songbird Estates on Wednesday after the owner of London's Canary Wharf business district dropped its opposition to the $4 billion offer.
3
ANALYSIS
Peak oil demand on ice
At more than $100 a barrel, peak global oil demand was scheduled for 2025, but it is now on ice if oil stays at $50 to $70 for over five years, a report said, warning that continued high prices may have led to zero global demand growth.
4
ANALYSIS
Abu Dhabi's assets will buffer impact of oil price drop
While the drop in oil prices will likely cause Abu Dhabi's economic growth to slow in 2015, the emirate's sizeable stock of foreign assets will help cushion the impact of lower oil revenues in the coming years, a report said.
5
IMAGE OF THE DAY
New trike in town
Engineers test-drive a gasoline-powered amphibious tricycle on a lake south of Manila on January 28. The "Salamander", capable of travelling on both land and water, can carry five passengers and would cost around $4500.
Top Trade News
 | Industry Sectors |
13,000 new housing units to hit Dubai market
More than 50 projects were launched in the off-plan market across Dubai, UAE, during 2014, which are expected to deliver over 13,000 units to the market, according to a report.
More…
Apple iPhone sales set global profits record
Apple quarterly results smashed Wall Street expectations with record sales of big-screen iPhones in the holiday shopping season and a 70 per cent rise in China sales, powering the company to the largest profit in corporate history.
More…
Iraq lowers oil price forecast in budget proposal to $55 a barrel
Falling oil prices forced Iraq's cabinet to revise its draft 2105 budget, trimming its forecast for oil to $55 a barrel from $60.
More…
BBK plans bond issue to refinance $500m debt
BBK, formerly known as Bank of Bahrain and Kuwait, is planning its first debt issue since 2010 to refinance an existing $500 million bond maturing in October, its chief executive said on Wednesday
More…
Gulf consumers ‘more trusting with personal data’
Shoppers in the Gulf region are among the most open with their personal information, with 67 per cent willing to share their data, second only to India, revealed a new global survey by leading loyalty provider Aimia.
More…
Shell to build $11bn petchem plant in Iraq
Royal Dutch Shell has signed a deal with Iraq worth $11 billion to build a petrochemicals plant in the southern oil hub of Basra, Industry Minister Nasser Al-Esawi said on Wednesday.
More…
Emirates to fly A380s to two new destinations
Dubai-based Emirates plans to launch its A380 services to two European destinations: Dusseldorf (Germany) and Madrid (Spain).
More…
Zain may sell transmitter towers
Kuwaiti telecom operator Zain has appointed advisors to study the potential sale of its transmitter towers in some of the eight markets in which it operates, the company said on Wednesday.
More…
Luxury sedan, convertible lead Bentley’s ME sales
Bentley Motors has posted a seven percent increase in Middle East deliveries for 2014 with sales led by the Flying Spur W12, the world’s fastest road-going sedan and the Continental GT Speed Convertible, the brand’s fastest convertible.
More…
Maserati’s Mena sales surge 155pc in 2014
Italian luxury car manufacturer Maserati has reported a 155 per cent increase in 2014 sales in the Mena region compared to the same period in the previous year.
More…
DHCC adds 34 countries to licensing framework
Dubai Healthcare City (DHCC), the world’s largest healthcare free zone, has added 34 countries to the licensing framework for its healthcare and CAM (complementary and alternative medicine) professionals, totalling to 63 countries.
More…
Qatar unsure about 2024 Olympics bid
Qatar is undecided whether to bid to host the 2024 Olympics, a leading official has said, suggesting they may hold off for a later edition after two failed attempts to land sport's greatest spectacle.
More…
NIIT to launch upskilling program at Bahrain expo
Bahrain’s National Institute of Industrial training (NIIT) will promote their Fanniya Apprenticeship Program at the upcoming Gulf Industry Fair 2015, a major industrial B2B exhibition in Northern Gulf.
More…
Egypt cheese firm to set up two factories
Egypt-based Obourland Cheese Company plans to set up two new manufacturing units – a cheese factory and a new factory for juice and milk production – at a cost of EGP 100 million ($13.4 million), a report said.
More…
