Tuesday 31 March 2015

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PAKISTAN JOINS COALITION
Saudi King open to a meeting of all Yemeni parties

Saudi Arabia is open to a meeting of all Yemeni political parties who are willing to preserve Yemen's security and stability, state news agency SPA quoted King Salman as saying in a cabinet statement on Monday.

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1

1,000 PETROL STATIONS IN PLAN
Qatar firms to buy 49pc of China petchem stake for $5bn

Qatar's Qatra for Investment & Development (QID Group) and Hamad Bin Suhaim Enterprises have signed an initial deal to acquire 49 per cent of China's Shandong Dongming Petrochemical Group worth $5 billion, executives from the firms said.

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2

FINANCIAL FLEXIBILITY
Aramco signs $10bn revolving credit facilities deal

Saudi Aramco has signed a new $10 billion standby revolving credit facilities agreement as part of the company’s strategy of maintaining financial flexibility.

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3

ANALYSIS
Oil prices to stabilise in H2 as demand rises

Oil prices should stabilise in the second half of this year and rise in 2016 and 2017 as consumers respond to a period of much cheaper fuel, a report said.

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4

ANALYSIS
Smart city industry projected at $400bn by 2020

Smart cities industry, which offers solutions to cope with water and energy shortages, higher air pollution and other challenges due to rapid urbanisation, is projected to be worth more than $400 billion by 2020, according to experts.

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5

IMAGE OF THE DAY
Defying gravity

Yamaha MotoGP rider Valentino Rossi of Italy rides his bike during the Qatar MotoGP Grand Prix at the Losail International circuit in Doha on March 29.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Overseas buyers, expats driving Damac sales

Dubai developer Damac Properties posted strong property sales of Dh2.8 billion ($762 million) in the first quarter thanks to robust demand from foreign buyers, its managing director said.

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Retail & Wholesale

Vista unveils new 27-inch display monitor with camera

Vista, a UK-based premier brand of CCTV equipment, has unveiled a new 27-inch version to include an in-built 1000TVL WDR camera, to complement their existing range of public display monitors.

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Energy, Oil & Gas

Too early to say when Libya oil ports can reopen

It is too early to say when Libyan oil ports Es Sider and Ras Lanuf can reopen after a force loyal to a self-declared Tripoli government pulled out troops from frontlines near to the terminals, an oil official said.

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Finance & Capital Market

UAE to allow 100pc foreign ownership of firms

The United Arab Emirates is at an advanced stage of drafting a foreign investment law to allow 100 per cent foreign ownership of businesses in some sectors, the country's economy minister said at a conference on Monday.

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Analysis, Interviews, Opinions
Industry, Logistics & Shipping

FourWinds unit to set up major steel foundry in Abu Dhabi

Abu Dhabi Ports has signed a Musataha agreement with Advanced Manufacturing Solutions (AMS), a subsidiary of the FourWinds Group of Companies, to build a state-of-the-art steel foundry at the Khalifa Port’s Industrial Zone (Kizad).

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Travel, Tourism & Hospitality
IT & Telecommunications

Bentley launches process safety, risk management software

Bentley Systems, a leading company dedicated to providing comprehensive software solutions for sustaining infrastructure, has launched its AssetWise APM V7.3, an enhanced version of the firm’s asset performance management offering.

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Lifestyle

Rasasi Perfumes to expand in luxury segment

Rasasi Perfumes, one of the leading perfume brands in the Middle East, plans to further consolidate its presence in the luxury perfume segment in wake of a robust demand for more premium perfumes across the region.

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Health & Environment

Global researchers for Qatar medical congress

International researchers and leading medical companies to the region will introduce their latest medical discoveries to improve the healthcare sector at an upcoming medical congress in Doha, Qatar.

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Media & Promotion

Expo Centre Sharjah chief to spearhead MICE activities

Saif Mohammed Al Midfa, chief executive officer of Expo Centre Sharjah, will now spearhead the growth of the meetings and exhibitions industry in the Middle East and Africa region.

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Education, HR & Training

QRAEE, Arab Open University sign education MoU

The Association of Queen Rania Al Abdullah Award for Excellence in Education (QRAEE) in Jordan has signed a memorandum of understanding (MoU) with the Arab Open University to further foster cooperation in the field of education.

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Miscellaneous

Burger Hood opens new Dubai outlet

Burger Hood, a leading high-end gourmet burger venue offering customers delicious and locally sourced healthy food, has launched its Dubai outlet in Jumeirah 1.

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