Thursday 29 January 2015

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NO RIVAL OFFER SEEN
Qatari-led group wins $4bn battle for Canary Wharf

A Qatari-led consortium looked set to win its long-running battle to buy Songbird Estates on Wednesday after the owner of London's Canary Wharf business district dropped its opposition to the $4 billion offer.

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1

DECISION LIKELY BY SEPT
Qatar unsure about 2024 Olympics bid

Qatar is undecided whether to bid to host the 2024 Olympics, a leading official has said, suggesting they may hold off for a later edition after two failed attempts to land sport's greatest spectacle.

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2

COMPLEX IN BASRA
Shell to build $11bn petchem plant in Iraq

Royal Dutch Shell has signed a deal with Iraq worth $11 billion to build a petrochemicals plant in the southern oil hub of Basra, Industry Minister Nasser Al-Esawi said on Wednesday.

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3

ANALYSIS
Peak oil demand on ice

At more than $100 a barrel, peak global oil demand was scheduled for 2025, but it is now on ice if oil stays at $50 to $70 for over five years, a report said, warning that continued high prices may have led to zero global demand growth.

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4

ANALYSIS
Abu Dhabi's assets will buffer impact of oil price drop

While the drop in oil prices will likely cause Abu Dhabi's economic growth to slow in 2015, the emirate's sizeable stock of foreign assets will help cushion the impact of lower oil revenues in the coming years, a report said.

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5

IMAGE OF THE DAY
New trike in town

Engineers test-drive a gasoline-powered amphibious tricycle on a lake south of Manila on January 28. The "Salamander", capable of travelling on both land and water, can carry five passengers and would cost around $4500.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

13,000 new housing units to hit Dubai market

More than 50 projects were launched in the off-plan market across Dubai, UAE, during 2014, which are expected to deliver over 13,000 units to the market, according to a report.

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Retail & Wholesale

Apple iPhone sales set global profits record

Apple quarterly results smashed Wall Street expectations with record sales of big-screen iPhones in the holiday shopping season and a 70 per cent rise in China sales, powering the company to the largest profit in corporate history.

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Finance & Capital Market

BBK plans bond issue to refinance $500m debt

BBK, formerly known as Bank of Bahrain and Kuwait, is planning its first debt issue since 2010 to refinance an existing $500 million bond maturing in October, its chief executive said on Wednesday

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Analysis, Interviews, Opinions

Gulf consumers ‘more trusting with personal data’

Shoppers in the Gulf region are among the most open with their personal information, with 67 per cent willing to share their data, second only to India, revealed a new global survey by leading loyalty provider Aimia.

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Industry, Logistics & Shipping

Shell to build $11bn petchem plant in Iraq

Royal Dutch Shell has signed a deal with Iraq worth $11 billion to build a petrochemicals plant in the southern oil hub of Basra, Industry Minister Nasser Al-Esawi said on Wednesday.

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Travel, Tourism & Hospitality
IT & Telecommunications

Zain may sell transmitter towers

Kuwaiti telecom operator Zain has appointed advisors to study the potential sale of its transmitter towers in some of the eight markets in which it operates, the company said on Wednesday.

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Lifestyle

Luxury sedan, convertible lead Bentley’s ME sales

Bentley Motors has posted a seven percent increase in Middle East deliveries for 2014 with sales led by the Flying Spur W12, the world’s fastest road-going sedan and the Continental GT Speed Convertible, the brand’s fastest convertible.

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Motoring

Maserati’s Mena sales surge 155pc in 2014

Italian luxury car manufacturer Maserati has reported a 155 per cent increase in 2014 sales in the Mena region compared to the same period in the previous year.

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Health & Environment

DHCC adds 34 countries to licensing framework

Dubai Healthcare City (DHCC), the world’s largest healthcare free zone, has added 34 countries to the licensing framework for its healthcare and CAM (complementary and alternative medicine) professionals, totalling to 63 countries.

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Media & Promotion

Qatar unsure about 2024 Olympics bid

Qatar is undecided whether to bid to host the 2024 Olympics, a leading official has said, suggesting they may hold off for a later edition after two failed attempts to land sport's greatest spectacle.

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Education, HR & Training

NIIT to launch upskilling program at Bahrain expo

Bahrain’s National Institute of Industrial training (NIIT) will promote their Fanniya Apprenticeship Program at the upcoming Gulf Industry Fair 2015, a major industrial B2B exhibition in Northern Gulf.

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Miscellaneous

Egypt cheese firm to set up two factories

Egypt-based Obourland Cheese Company plans to set up two new manufacturing units – a cheese factory and a new factory for juice and milk production – at a cost of EGP 100 million ($13.4 million), a report said.

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