Wednesday 22 October 2014

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480,000 NEW CASES REPORTED
Drug-resistant tuberculosis at crisis levels, warns WHO

Multi drug-resistant tuberculosis remains at crisis levels, with about 480,000 new cases this year, and various forms of the lung disease killed about 1.5 million people in 2013, the World Health Organization (WHO) said on Wednesday.

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1

HOMES DEMAND TO RISE 4-FOLD
Dar Al Arkan Real Estate targets 10pc growth

Dar Al Arkan Real Estate Development Company, Saudi Arabia's largest listed developer, plans to spend over SR1 billion ($267 million) on projects in 2015 and aims for 10 per cent growth of its business in the year, its chairman said.

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2

UAE TOPS IN CONSUMPTION
GCC food imports to top $53bn by 2020

Food import bill of GCC region will rise to over $53 billion by 2020 as soaring population and up to 90 per cent reliance on imported products foster long term supply concerns, according to a study.

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3

SPECIAL REPORT
Wind could supply one-fifth of global power

Installed wind power capacity could swell by 530 per cent to 2,000 gigawatts (GW) by 2030, supplying up to 19 per cent of global electricity, a report from a trade association and Greenpeace said.

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4

SPECIAL REPORT
GCC heading towards massive housing shortage

The young demographic structure of the GCC region is creating a surge in demand for housing that could lead to a shortage in excess of one million units by 2018, a report said.

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5

IMAGE OF THE DAY
Musing the Wall

US Secretary of State John Kerry, who lived in Germany as a child in the early to mid 1950s, touches the remains of the Berlin Wall during a visit at the Wall memorial site in Berlin on October 22.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Louvre Abu Dhabi in new dome installation milestone

Tourism Development & Investment Company (TDIC), a master developer of tourism, cultural and residential destinations in Abu Dhabi, UAE, has announced the full installation of the 7,000-tonne dome structure at its Louvre Abu Dhabi museum.

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Retail & Wholesale

Qatar to buy $616m stake in HK retail operator

Qatar's sovereign wealth fund has agreed to buy a HK$4.78 billion ($616 million) stake in Lifestyle International Holdings, operator of the SOGO department stores in Hong Kong and mainland China, Lifestyle said on Monday.

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Energy, Oil & Gas

Oil holds above $86 as buyers slowly return

Brent crude futures steadied above $86 a barrel on Wednesday, clinging to gains from the previous session as buyers gradually returned to a market hammered to four-year lows by abundant supply.

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Finance & Capital Market

ME equity issuance surges 43pc to top $5bn

Middle Eastern equity and equity-related issuance during the first nine months of 2014 totalled $5.1 billion, a 43 per cent increase in activity from the $3.6 billion reached same period in 2013, a report said.

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Analysis, Interviews, Opinions

Wind could supply one-fifth of global power

Installed wind power capacity could swell by 530 per cent to 2,000 gigawatts (GW) by 2030, supplying up to 19 per cent of global electricity, a report from a trade association and Greenpeace said.

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Industry, Logistics & Shipping

Gulf Craft to invest $100m in new DMC facility

The UAE-based Gulf Craft, one of the top 10 manufacturers of superyachts globally, plans to invest $100 million in developing a state-of-the-art shipyard to manufacture high-end luxury yachts, at the Dubai Maritime City (DMC).

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Travel, Tourism & Hospitality

Premier Inn to double Mideast hotel inventory

Premier Inn, UK’s largest hotel operator, has set sights on a portfolio of 2,687 rooms across properties in the Middle East in less than three years, up from 1,356 operating rooms today.

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IT & Telecommunications

China hackers 'may have infiltrated Apple's iCloud'

Apple's iCloud storage and backup service in China was attacked by hackers trying to steal user credentials, a Chinese web monitoring group said, adding that it believes the country's government is behind the campaign.

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Lifestyle

Christie’s regional art sales top $12.5m

The sale of Modern and Contemporary Arab, Iranian and Turkish Art at Christie’s Dubai drove the $8.5million high estimate to $12.51 million yesterday (October 21), marking the highest sale total for the category since 2010.

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Motoring

Autodesk, Local Motors collaborate on Spark 3D platform

Autodesk is collaborating with Local Motors, a leader in open-source hardware innovation, to utilise the Spark platform as the latter continues to develop the world’s first 3D printed car Strati.

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Media & Promotion

Global event to honour Arab women leaders

Global Thinkers Forum, an international organisation, in partnership with Dubai Business Women Council (DBWC), will honour Arab women leaders during its upcoming annual awards ceremony in Dubai, UAE.

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Education, HR & Training

GCC upbeat on hiring, but young talent ‘a concern’

GCC employers looking to hire hundreds of thousands of new recruits in the next 12 months are also projecting an average 9 per cent increase in salaries, but a new study says they face a major challenge with young talent.

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Miscellaneous

GCC food imports to top $53bn by 2020

Food import bill of GCC region will rise to over $53 billion by 2020 as soaring population and up to 90 per cent reliance on imported products foster long term supply concerns, according to a study.

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