Saturday 25 April 2015

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SURPLUS HIGHEST IN DECADE
Opec oil giants pump record 2m bpd in Q1

The world's biggest oil exporters in Opec including Saudi Arabia, Iraq, Kuwait and the UAE, are pumping almost two million barrels per day (bpd) more crude than required, the highest surplus for at least a decade, said a report.

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1

HOUSING, UTILITY COSTS UP
UAE inflation surges to six-year high in March

The inflation in the UAE hit a nearly six-year high of 4.3 per cent on an annual basis in March due to a spurt in the housing and utility costs, according to a report.

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2

MSCI INDEX AT MULTI-YEAR PEAK
Equities hit record highs, dollar slips on gloomy data

Equity markets worldwide climbed to record highs on Friday as solid corporate earnings and an all-time peak for the Nasdaq stock index stoked investor optimism, while the dollar eased on gloomy US economic data.

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3

SPOTLIGHT
After Yemen attack, Saudi may struggle with peacemaker role

As Saudi Arabia winds down the campaign it led against Yemen's Houthis, a militia allied to its regional rival Iran, Riyadh faces a test of its diplomatic skills in trying to arrange talks among Yemen's fractious elites.

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4

SPECIAL REPORT
Ocean output seen at $2.5trn a year, but sinking fast

Economic output by the world's oceans is worth $2.5 trillion a year, rivalling nations such as Britain or Brazil, but marine wealth is sinking fast because of over-fishing, pollution and climate change, a study said on Thursday.

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5

NEWS IN PICTURES
Floating catwalk

The long-awaited fashion shot featuring global sensation Jessica Minh Anh in Tony Ward’s red dress on the iconic Brooklyn Bridge has now been revealed. The bridge provided the backdrop for Jessica’s floating catwalk.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Masdar starts work on UAE residential complex

Masdar, a major renewable energy company in Abu Dhabi, UAE, said it has started construction of a residential complex that advances the city’s aim to be a leading hub of innovation where people live, work, learn and play.

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Retail & Wholesale

Software developers see more Apple watch apps coming

Software developers who tried on an Apple Watch for the first time on Friday predicted a rush of new apps over the next few months, particularly in areas including health and messaging.

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Energy, Oil & Gas

Oil at 4-1/2 month high as Yemen fighting continues

Oil prices diverged on Friday, with Brent hitting 4-1/2-month highs on continued fighting in Yemen as US crude fell on concerns of another upcoming stock build, though both benchmarks headed toward weekly gains.

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Finance & Capital Market

UAE inflation surges to six-year high in March

The inflation in the UAE hit a nearly six-year high of 4.3 per cent on an annual basis in March due to a spurt in the housing and utility costs, according to a report.

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Analysis, Interviews, Opinions

The new dress code: wearable technologies

The business world is now exploring how it can take advantage of the new possibilities provided by wearable technology, ranging from smartglasses and smartwatches to augmented reality and fitness trackers.

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Industry, Logistics & Shipping

Gulf Dynamic Switchgear nets 24pc growth

Gulf Dynamic Switchgear (GDS), a leading UAE-based manufacturer of low voltage switchgear panels, said it has registered a 24 per cent year-on-year growth in 2014, further strengthening its position as a market leader in the Gulf region.

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Travel, Tourism & Hospitality

Airbus plans big sales drive for A380

Europe's Airbus pledged on Friday to boost sales of its A380 superjumbo, as the world's largest passenger jet prepares to celebrate a bitter-sweet 10-year anniversary in the skies having booked no new airline orders since 2013.

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IT & Telecommunications

Zain Iraq applies for Baghdad share listing

Zain Iraq, the country's biggest mobile phone network operator by subscribers, has applied for a listing on Baghdad's stock exchange, parent firm Zain told Reuters, taking the first step in a long-delayed plan to go public.

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Lifestyle

Sotheby’s Doha art sale nets $7.5m

A recent Sotheby’s sale of contemporary art in Doha, Qatar achieved a strong total of $7.51 million, solidly between pre-sale expectations of $6.17-8.86 million.

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Motoring

Renault global sales surge 13.7pc in Q1

Renault’s sales jumped 13.7 per cent to 9.39 billion euros ($10.14 billion) in January-March, with a recovery in Europe's long-suffering autos market more than making up for a collapse in Russian demand and weak emerging economies.

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Health & Environment

Dewa, BMW plan to boost environmental sustainability

Dubai Electricity and Water Authority (Dewa) discussed joint co-operation and programmes that can boost sustainability and increase the level of environmental awareness with the BMW Group at the recently concluded Wetex 2015 in Dubai, UAE.

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Media & Promotion

300 social media experts convene at Dubai summit

More than 300 senior delegates, social media marketers, communicators, managers, directors and executives gathered at the second edition of the Social Media Summit in Dubai.

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Education, HR & Training

Bahrain mulls legalising 'free visa' labour

A study is being carried out to assess the feasibility of legalising the status of tens of thousands of foreign nationals working illegally in Bahrain, said a report.

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Miscellaneous

Iran moves ships, easing tensions near Yemen

A flotilla of nine Iranian military and cargo ships that US officials feared was carrying arms to strife-torn Yemen sailed northeast in the direction of Iran on Friday, a move the Pentagon said helped to ease US concerns.

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