Sunday 19 April 2015

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IPO RULES TIGHTENED
UAE issues rules to protect minority shareholders

The United Arab Emirates Securities and Commodities Authority has issued new rules to protect minority shareholders, including regulations covering halts to trading in companies' shares, it said on Sunday.

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TOP HOMES IN ABU DHABI
Mubadala to launch luxury residential units

UAE-based Mubadala Real Estate & Infrastructure said it is set to develop more than 140 apartments - one-, two- and three-bedroom units - in the heart of capital Abu Dhabi that will offer five-star luxury living.

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2

PROFITS FALL TO $1bn
Sabic Q1 revenues down 28pc to $9.48bn

Revenues at Saudi Basic Industries Corp (Sabic) plunged 28 per cent from a year earlier to SR35.56 billion ($9.48 billion), and dropped 18 per cent from the previous quarter, acting chief executive Yousef Abdullah Al-Benyan said on Sunday.

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3

FOCUS
Foreigners queue for opening of $500bn Saudi bourse

As Saudi Arabia's $500 billion-plus bourse prepares to open its doors to foreigners in June, outside investors appear ready to accept the political and financial risks as they finally get access to a market that rivals Brazil and Russia's.

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4

SPOTLIGHT
Majority of Arabs back govt use of social media

A majority of Arab people support governments’ use of social media in taking citizen engagement and services delivery to the next level, according to industry experts.

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5

NEWS IN PICTURES
Auto Audi

Germany's Federal Minister of Transport and Digital Infrastructure Alexander Dobrindt test drove under realistic conditions an Audi A7 piloted driving concept vehicle. The car drives autonomously – including lane changes and passing.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Mubadala to launch luxury residential units

UAE-based Mubadala Real Estate & Infrastructure said it is set to develop more than 140 apartments - one-, two- and three-bedroom units - in the heart of capital Abu Dhabi that will offer five-star luxury living.

More…
Retail & Wholesale

Qatar's Aamal, German group in retail JV

Qatar-based Aamal Company said it has joined hands with German retail mall operator ECE Projektmanagement to set up a new company to manage its new shopping centres in the country.

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Energy, Oil & Gas

Dubai oil firm to invest $10bn in Philippines

Kampac Oil, a Dubai-based oil and gas company, plans to double its investments in the Philippines to more than $10 billion, the bulk of which will be spent on its ambitious energy city project, said a report.

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Finance & Capital Market
Analysis, Interviews, Opinions

Foreigners queue for opening of $500bn Saudi bourse

As Saudi Arabia's $500 billion-plus bourse prepares to open its doors to foreigners in June, outside investors appear ready to accept the political and financial risks as they finally get access to a market that rivals Brazil and Russia's.

More…
Industry, Logistics & Shipping

Sabic Q1 revenues down 28pc to $9.48bn

Revenues at Saudi Basic Industries Corp (Sabic) plunged 28 per cent from a year earlier to SR35.56 billion ($9.48 billion), and dropped 18 per cent from the previous quarter, acting chief executive Yousef Abdullah Al-Benyan said on Sunday.

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IT & Telecommunications

Etisalat Q1 profit rises 7.6pc

Abu Dhabi-listed Etisalat reported a 7.6 per cent rise in first-quarter profit on Sunday, with its acquisition of a majority stake in Maroc Telecom having helped to lift revenue by nearly a third and its subscriber base by a fifth.

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Lifestyle

BMW Middle East Q1 sales up 11pc

BMW Group Middle East said its sales rose 11 per cent in the first quarter of 2015 compared to the same period last year, with a total of 8,302 BMW and MINI vehicles delivered to customers in 12 Middle East markets.

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Motoring

Hamilton fastest in Bahrain GP practice

Formula One world champion Lewis Hamilton limbered up for qualifying with the fastest time in final Bahrain GP practice on Saturday. He beat Ferrari's Sebastian Vettel to win the pole position with a best time of one minute 34.599 seconds.

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Health & Environment

Aldar to open top healthcare unit in Al Reem

Abu Dhabi-based Aldar Properties, a leading real estate firm, is set to bring world-class healthcare facilities to Al Reem Island in the UAE emirate with a 100,000-sq-ft day care centre.

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Media & Promotion

Dubai art gallery to host calligraphy show

ARTSPACE Gallery, one of the art world's leading platforms for contemporary Middle Eastern art in Dubai, UAE will host an exhibition showcasing the works of renowned calligraphy artist Mouneer al Shaarani.

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Education, HR & Training

Tasneef bids to bolster UAE maritime engineering

Abu Dhabi-based Tasneef, a leader in classification of ships and offshore platforms, has called on UAE students to get into the maritime field in order to reduce dependence on foreign workforce.

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Miscellaneous

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