Tuesday 21 April 2015

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2,000 NEW HOMES
Aldar unveils 3 big residential projects in Abu Dhabi

UAE-based Aldar Properties has launched three major residential developments offering 2,000 new homes in prime areas of the capital Abu Dhabi, including in investment zones where property can be purchased by non-UAE nationals.

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1

20 NEW WELLS TO BE DRILLED
BP eyes record gas output from Oman field by 2017

British oil major BP expects to start natural gas production from Oman's Khazzan field by 2017 at a rate of 1 billion cubic feet (bcf) a day, a senior company executive said on Monday.

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2

IMPORT GROWTH ‘TO CONTINUE’
Kuwait’s trade surplus down 18pc over cheap oil

Kuwait’s trade surplus slipped in 2014 for the first time in six years, falling by 18 per cent to KS19.8 billion ($65.5 billion), mainly due to lower oil export receipts, a report said.

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3

SPECIAL REPORT
Iran nuke deal prospects weighing on oil prices

Lifting sanctions on Iran's oil industry could significantly change the outlook for oil supply and prices amid growing prospects of 1 million bpd of additional Iranian crude becoming available in 2016 or 2017, said experts.

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4

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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5

IMAGE OF THE DAY
Bahrain celebrates Hamilton win

His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier, presenting the trophy to world champion Lewis Hamilton after he won the Gulf Air Bahrain Formula One Grand Prix.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Nakheel invites bids for Dubai mixed-use project

Leading regional developer Nakheel has issued tenders for the development of the retail component of a mixed-use project at Warsan Village, a family-orientated neighbourhood containing 942 three-bedroom modern townhouses, in Dubai, UAE.

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Retail & Wholesale

Dubai’s Lals plans 10 Homes R Us stores in Saudi

Dubai-based Lals Group, a leading retailer that owns Lamcy Plaza, plans to open 10 Homes R Us stores, a one-stop-shop for home interiors, in Saudi Arabia, a report said.

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Energy, Oil & Gas

Tasnee to cut costs, revise contracts after Q1 loss

Saudi Arabia's National Industrialization Company (Tasnee) said on Monday it would cut costs and revise foreign exchange and derivatives contracts at a subsidiary after swinging to a first-quarter loss.

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Finance & Capital Market

Masraf Al Rayan Q1 profit rises 18pc

Masraf Al Rayan, Qatar's second-largest bank by market value, reported an 18 per cent increase in first-quarter net profit on Monday, beating analysts' expectations.

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Analysis, Interviews, Opinions

Iran nuke deal prospects weighing on oil prices

Lifting sanctions on Iran's oil industry could significantly change the outlook for oil supply and prices amid growing prospects of 1 million bpd of additional Iranian crude becoming available in 2016 or 2017, said experts.

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Industry, Logistics & Shipping

Sipchem Q1 net profit up 17.3pc

Saudi International Petrochemical Company (Sipchem) reported a 17.3 per cent increase in first-quarter profit on Monday, missing analysts' estimates.

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Travel, Tourism & Hospitality

Saraya Bandar awards $95m Oman hotel deal

Oman's Saraya Bandar Jissah has awarded a RO37-million ($95.8 million) contract to Habtoor Leighton Group (HLG) to build the second five-star hotel on the beachfront of Bandar Jissah bay.

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IT & Telecommunications

Al Falak, Etisalat to develop video monitoring solution

Al-Falak Electronic Equipment and Supplies Company has been selected by the Emirates Telecommunications Corporations (Etisalat) to provide a comprehensive video monitoring solution to analyse the quality of service and user experience.

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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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Health & Environment

Boehringer launches stroke management academy

Germany-based Boehringer Ingelheim, a leading pharmaceutical company, has launched an academy to establish comprehensive stroke management protocol in the region.

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Education, HR & Training

ACCA recognises UAE’s newest accountants

The Association of Chartered Certified Accountants (ACCA) celebrated the attainment of membership by over 300 new qualified chartered accountants in the Middle East at their annual recognition ceremonies this month in Dubai and Oman.

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Miscellaneous

Emirates ID to add five new languages to website

The Emirates Identity Authority is set to add five more languages – Malayalam, Urdu, Tagalog, Russian and Mandarin - to its website, offering information and guidance on procedures.

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