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'CHANGE IN STRATEGY'
Taqa pulls out of $1.6bn India power deal
Abu Dhabi National Energy Co (Taqa) is pulling out of a $1.6 billion deal to buy two Indian hydroelectric power plants because of "a change in strategy", a senior Taqa official told Reuters on Thursday.
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SOLID GROWTH IN RETAIL
Emirates NBD H1 profits surge 30pc to $640m
Emirates NBD, the largest bank in the UAE by total income and branch network, today reported a net profit growth of 30 per cent year on year for the first half to Dh2.350 billion ($639.7 million).
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HOUSING, PETCHEM FOCUS
Saudi state investment fund to set up new firms
Saudi Arabia's Public Investment Fund (PIF) aims to establish companies in areas including housing, petrochemicals and technology as it expands its investments locally and overseas, Finance Minister Ibrahim Al-Assaf said.
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ANALYSIS
Saudi 'will become 7th largest emerging capital market'
Emerging capital markets will double their global index share by 2030, with Saudi Arabia expected to emerge as the seventh largest emerging capital market by 2030, says a report.
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SPOTLIGHT
Mideast firms face $91bn refinancing needs
Middle East investment grade companies are facing refinancing needs of about $91 billion from bank and bond debt due to mature over the next four years, according to a recent report.
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IMAGE OF THE DAY
The remains
Rescue personnel survey the wreckage of a TransAsia Airways turboprop plane that crashed, on Taiwan's offshore island Penghu.
Top Trade News
 | Industry Sectors |
Dubai office rents continue to rise: CBRE
Dubai’s office rents are continuing to rise due to the growing economy and increasing business confidence, according to a CBRE report.
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Majid Al Futtaim H1 revenues up 14pc to $3.5bn
Dubai-based Majid Al Futtaim (MAF) today reported a 14 percent increase in first-half revenues, citing growing earnings across its business units.
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Egypt to pay-off all foreign oil firm arrears by 2017
The Egyptian government has planned to pay-off all of its arrears to foreign oil firms by 2017, said a report.
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Bahrain insurance premiums grow 8pc
Bahrain insurance market has posted a gross premium increase of eight per cent to register BD258.41 million ($681.7 million) last year, compared to the previous year, according to the Central Bank of Bahrain.
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Saudi opening will put Mideast on global investor map
The opening of Saudi Arabia's $530 billion stock market to foreigners will finally put the Middle East on the investor map.
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Savola in talks to sell packaging unit to Takween
Saudi Arabia's Savola Group has signed a non-binding agreement to sell its packaging business to Takween Advanced Industries, as it moves to focus on its core sectors of food and retailing, it said on Wednesday.
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Mideast hotel occupancy reaches 64pc in H1
The Middle East and Africa region has reported a one per cent increase in hotel room occupancy to 64.6 per cent in the first half of the year, according to an STR Global report.
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Ooredoo posts 11pc Q2 profit drop
Qatari telecom operator Ooredoo reported a 11 percent drop in second-quarter profit on Wednesday.
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Qatar Emir meets Saudi King in Jeddah
Qatar's Emir Sheikh Tamim bin Hamad Al-Thani arrived in Jeddah on Tuesday to meet Saudi Arabia's King Abdullah for talks that focused on the situation in Gaza, according to SPA, the Saudi press agency.
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Audi to introduce lightweight springs
Audi plans to introduce new, lightweight suspension springs made of glass fibre-reinforced polymer (GFRP) in an upper mid-size model before the end of the year, reinforcing its leading role in automotive lightweight construction.
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Dubai hospital offers new treatment for heart condition
A new surgical treatment is now available at the American Hospital Dubai to treat heart arrhythmia, which occurs when the heart beats irregularly and cannot pump blood effectively, putting vital organs at risk.
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GfK wins electronic TAM deal in Morocco
Germany-based GfK, a leading provider of audience measurement services, has won a tender with Morocco’s joint industry committee ‘Ciaumed,’ to deliver an electronic TV audience meausurement service (TAM) in the country.
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BAETC, GAA sign aviation training deal
BAS Aircraft Engineering Training Centre (BAETC), fully-owned and operated by Bahrain Airport Services (BAS), has signed a memorandum of understanding (MoU) with aviation training provider Gulf Aviation Academy (GAA).
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Marmum to boost juices export
Marmum Dairy Farm, a subsidiary of Dubai Investments (DI) and one of the leading dairy brands in the UAE, has announced plans to export over 1.8 million litres of its Raha long-life juices across the Middle East and Africa this year.
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