Sunday 5 July 2015

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POLYETHYLENE PRODUCTION
Sabic, Korea's SK in $640m petchem plant JV

Saudi Basic Industries Corporation (Sabic) said on Sunday it had completed the formation of a joint venture with Korean petrochemical manufacturer SK Global Chemical Company to produce polyethylene products.

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1

RAMADAN IMPACT
Saudi non-oil business activity hits record low

Growth in Saudi Arabia's non-oil private sector slowed in June, a survey of businesses showed on Sunday, reaching its lowest level since the survey was launched in August 2009.

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2

NO COMMENT ON QATAR BID
CVC Capital to keep Formula One stake

Formula One's commercial rights holders CVC Capital Partners are under no pressure to sell their controlling stake in the sport and want to keep it, co-chairman Donald Mackenzie said on Saturday.

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3

ANALYSIS
Oil price flux unlikely to hit long-term sector growth

The cyclicality of the oil and gas industry is unlikely to impact the long term trajectory of the sector, a report said, noting that the current fluctuations may speed up some of the trends that were already unfolding.

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4

SPOTLIGHT
ME lenders struggle with falling loan pricing

The reluctance of local lenders to join the $3 billion loan for Abu Dhabi National Energy Company (Taqa), is highlighting how previously liquid local banks are being priced out of the market as low oil prices finally begin to bite.

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5

IMAGE OF THE DAY
Against all odds

The world’s first solar-powered plane is attempting to break all distance and duration records for solar aviation, having already covered 6,190 km in 80 hours non-stop from Japan to Hawaii in the 7th leg of its flight around the world.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Construction equipment market to hit $241bn by 2020

The global construction equipment market is expected to reach $240.97 billion over the next five years with a CAGR (compound annual growth rate) of 8.9 per cent, said a report.

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Retail & Wholesale

Paris Gallery launches special summer sale

Paris Gallery, a leading luxury retailer in the Middle East, is offering a 70 per cent discount on selected products across all categories at its outlets as part of its super Summer Surprises Sale.

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Energy, Oil & Gas

Videocon plans $2.5bn Brazil energy investments

India's Videocon Industries plans to invest $2.5 billion in oil and gas ventures in Brazil over the next two to three years, the consumer electronics-to-energy group's chief said, as part of its strategy to boost the business.

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Finance & Capital Market
Analysis, Interviews, Opinions

ME property market among world’s fastest growing

Middle East real estate market revenues have augmented at a compounded annual growth rate (CAGR) of 4.7 per cent between 2009 and 2014, making it one of the fastest growing sectors across the world, a report said.

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Industry, Logistics & Shipping

Drydocks World completes world’s largest turret

Dubai's Drydocks World said it has achieved a major milestone with the completion of the world’s largest turret mooring system which stands almost 100 meters tall and weighs over 11,000 tonnes.

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Travel, Tourism & Hospitality
IT & Telecommunications

Etisalat unveils special package for 4G smartphone

Etisalat has announced a special three-month offer for the new Presitigio Multiphone 5454 Duo 4G LTE smartphone, that boasts key features including a dual SIM and a bright 4.5" IPS display with Gorilla Glass 3.

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Health & Environment

Stricter laws to open up waste management market

Opportunities in the Asia-Pacific hazardous waste management market vary across the region as many countries continue to send most of their locally produced hazardous waste to non-sanitary landfills.

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Media & Promotion

New book traces history of Bahrain’s newspapers

A new book 'Bahrain’s English Newspapers: An Illustrated History' by Bahraini historian Hamad Abdulla, illustrates how publications have evolved since the mid-1950s.

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Education, HR & Training

Al Jalila inks major Saudi education deal

UAE’s Al Jalila Foundation, a global philanthropic organisation dedicated to medical education, has signed an agreement with the Ministry of Education covering a number of initiatives in career, education and innovation.

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Miscellaneous

25 militants killed in Egypt air strikes in Sinai

Egyptian warplanes killed 25 Islamist militants in North Sinai on Saturday, security sources said, as the Egyptian president visited the province after a major escalation of the conflict there.

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