Thursday 18 September 2014

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'REGION MUST TRUST ITSELF'
Dubai, Doha can host Olympics, says OCA chief

Doha and Dubai are capable of hosting the Middle East's first Olympic Games and the region would have to trust itself to deliver a great event in the face of doubt and criticism, the president of the Olympic Council of Asia has said.

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1

MAF TO SPEND $817m IN DUBAI
UAE retail sector on path to hit 33pc growth

The UAE retail sector is expected to grow over 33 per cent by 2015, a report said, adding that the growth is attracting investment into other GCC countries, including Saudi Arabia, Kuwait and Oman, and to a smaller extent Qatar and Bahrain.

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2

METAL IN SIGHT OF 2013 TROUGH
Oil, gold plunge to new lows on strong dollar

Brent crude dropped towards $98 per barrel, while gold tumbled to its lowest in 8-1/2 months on Thursday as the dollar index jumped to a four-year peak on fears about a looming US interest rate increase.

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3

SPECIAL REPORT
Telecom towers on track to hit 5m worldwide

The number of telecom towers built across the world will rise by one million to hit the 5-million milestone by 2020, a report said.

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4

SPECIAL REPORT
Use of antibitics by poultry firms sparks superbug debate

Major US poultry firms are administering antibiotics to their flocks far more pervasively than regulators realise, posing a potential risk to human health, says a Reuters report.

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5

IMAGE OF THE DAY
Long road ahead?

Graffiti supporting the "Yes" campaign is painted on a road in Scotland. The referendum on Scottish independence will take place today (Sept 18), when Scotland will vote whether or not to end the 307-year-old union with the rest of the UK.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Saudi utility to spend $80bn to raise water production

State-run Saudi Saline Water Conversion Corp (SWCC) plans to invest SR300 billion ($80 billion) by 2025 to boost energy-intensive desalinated water production to 8.5 million cu m a day, the head of the utility has said.

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Retail & Wholesale

IPhone 6 ‘best smartphone ever made’

The iPhone 6 is the best smartphone available or "ever made", most reviewers say, noting that Apple has finally realized that and given iPhone users a product that may be low on novelty but high on improvements.

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Energy, Oil & Gas
Finance & Capital Market

New $266m fund to back SMEs in Saudi

A SR1 billion ($266.5 million) endowment has been launched to develop and empower the SME sector in the Madinah region of Saudi Arabia.

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Analysis, Interviews, Opinions

Power cuts ‘biggest hurdle to investment in Egypt’

Power cuts dogging Egypt have become the biggest obstacle to luring back foreign investment after three years of political upheaval, the country's investment minister said on Tuesday.

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Industry, Logistics & Shipping

Lockheed Martin, AEC to set up sniper pod facility in Saudi Arabia

US-based Lockheed Martin and Saudi Arabia's Advanced Electronics Company (AEC) will establish a Sniper Advanced Targeting Pod (ATP) expanded repair capability facility in the kingdom.

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Travel, Tourism & Hospitality

Kuwait Airways studying offer to buy 10 Boeing 777s

Kuwait Airways is studying an offer to buy 10 Boeing 777 passenger jets, the chairwoman of the carrier said, confirming local news reports about the possible deal.

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IT & Telecommunications

Zain Bahrain extends IPO subscription period

Zain Bahrain, a leading telecom company in the kingdom, has extended the subscription period for its initial public offering (IPO) until the end of this month.

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Government & Laws

Saudi council to consider tax on unusued urban land

Saudi Arabia's Supreme Economic Council, a top policy body chaired by King Abdullah, will study whether to tax undeveloped urban land as part of efforts to end a serious housing shortage in the world's top oil exporter.

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Health & Environment

Mideast cleaning industry to grow 275pc

The cleaning and hygiene industry in the Middle East is set to rise from Dh80 billion ($21.7 billion) to Dh300 billion by 2020, a 275 per cent growth, according to a recent report.

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Media & Promotion

Expo 2020 Dubai, DP World launch workshops

Expo 2020 Dubai has held the first industry exploratory session in partnership with DP World as part of the preparation to host the international event.

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Education, HR & Training

Abraaj, RCA launch art scholarship programme

The Abraaj Group, a leading investor operating in global growth markets, and the Royal College of Art (RCA) have launched the Abraaj RCA Innovation Scholarship programme in London.

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Miscellaneous

Coffee exports from Brazil to Arab countries up 7pc

Coffee exports from Brazil to Arab countries hit 820,000, 60-kg bags of coffee during the seven months ending in July, up seven per cent as compared to the same period last year, according to a report.

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