Sunday 7 February 2016

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FIRM OPTIMISTIC ON ECONOMY
Lulu to open seven more hypermarkets in Oman

Middle East's retail major Lulu Group has announced plans to open seven more hypermarkets in Oman in the next two years.

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1

ICONIC PROJECT
Emaar to develop new tower at Dubai Creek

Dubai developer Emaar is set to start work on a new tower combining Islamic and modern architecture on the shores of the Dubai Creek following the approval of its engineering design by the Dubai ruler.

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2

RISK 'VERY LOW'
Iraq dismisses warnings on Mosul dam collapse

Iraq's minister of water resources has played down warnings that Mosul dam will collapse, estimating only a "one in a thousand" chance of failure and saying the solution was to build a new dam or install a deep concrete support wall.

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3

SPOTLIGHT
UAE e-commerce to quadruple to $10bn by 2018

GCC banks are aiming to expand digital and mobile customer offerings, even as the UAE’s e-commerce market is set to quadruple to $10 billion by 2018, according to Bank Audi.

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4

SPOTLIGHT
Wars, cheap oil hurting Middle East growth

The World Bank said that 2015 economic growth in the Middle East and North Africa likely came to just 2.6 per cent, falling short of a 2.8 per cent forecast in October as war, terrorism and cheap oil took their toll.

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5

IMAGE OF THE DAY
'Rebel' Madonna in Taiwan

US singer Madonna peforming at a concert in the Taipei Arena in Taipei, Taiwan, on February 6. Taipei is the first stop of the Australia-Southeast Asia leg of Madonna's 'Rebel Heart' tour.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

KAEC awards $65m infrastructure development contract

King Abdullah Economic City (KAEC), a special economic zone on Saudi Arabia's Red Sea coast, has awarded a SR244-million ($65 million) contract for infrastructure development and landscaping at its residential community Al Talah Gardens.

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Finance & Capital Market

Gulf Finance opens new office In Jeddah

Gulf Finance Saudi Arabia, a provider of Shariah-compliant lease and installment facilities to small businesses, has opened its new head office and branch in Jeddah, marking three years of operations in the Kingdom.

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Analysis, Interviews, Opinions

UAE e-commerce to quadruple to $10bn by 2018

GCC banks are aiming to expand digital and mobile customer offerings, even as the UAE’s e-commerce market is set to quadruple to $10 billion by 2018, according to Bank Audi.

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Industry, Logistics & Shipping

India's Electrosteel launches regional hub in Bahrain

India-based Electrosteel Castings, the world’s third largest producer of ductile iron (DI) pipes and ancillary products, has inaugurated its new BD2.5 million ($6.6 million) warehouse in Bahrain, said a report.

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Travel, Tourism & Hospitality

Elaf Group plans budget hotels in India

Saudi-based Elaf Group is looking to expand its services in India with plans to open budget hotels in India to cater to the Indian Haj and Umrah pilgrimage sector, said a report.

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IT & Telecommunications

Bahrain to honour ICT firms at top industry fair

The iTECH 2016 Awards, which look to celebrate regional and international ICT (information and communications technology) sector achievements, will be given at the Gulf Industry Fair which opens next week in Bahrain.

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Lifestyle

Diyar Al Muharraq to launch seafront unit sales

Diyar Al Muharraq, one of the leading urban developers in Bahrain, is set to launch the sales of the second phase of its seafront development Al Bareh on Saturday (February 6).

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Health & Environment

Mega business deals signed during ADSW

Hundreds of millions of US dollars in sustainability-related strategic business deals and partnerships were struck across clean energy, water, and waste at Abu Dhabi Sustainability Week (ADSW) 2016, organizers said.

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Media & Promotion
Education, HR & Training

GESS Dubai ushers in space age for schools

GESS Dubai 2016, the region’s premier education exhibition and conference, is hosting an exciting interactive astronomy showcase next month with several new features including gamification app to help make learning more fun and engaging.

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Miscellaneous

‘Dinner in the Sky’ comes to Bahrain

Adventurous diners in Bahrain will be hoisted 50 metres in the air as part of ‘Dinner in the Sky’, a Belgium-based concept that has taken place across the world, next month.

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