Friday 27 March 2015

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12 BAHRAINI JETS JOIN
Gulf countries launch ‘Operation Decisive Storm’

Gulf countries have formally entered ‘three-front war’ after Saudi Arabia and its allies, including Bahrain, launched air strikes against Houthi rebels in Yemen, according to an expert.

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1

WARPLANES POUND HOUTHIS
Saudi beefs up security at borders, oil facilities

Top oil exporter Saudi Arabia plans to beef up security at its borders and around oil and industrial facilities, state news agency SPA reported on Thursday, citing a statement by Deputy Crown Prince Mohammed bin Nayef.

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2

OIL PRICE PLUNGE
Saudi Arabia drawing down FX reserves to cover deficit

Saudi Arabia has begun drawing down its foreign currency reserves for the first time since 2009 to cover a record state budget deficit caused by the plunge in oil prices, data from the Saudi central bank indicated on Thursday.

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3

SPOTLIGHT
Testing of software adds to urgency in race for driverless cars

In the race to build a self-driving car, German automakers are hitting a road block in their efforts to test vehicles so complex they need more than 10 times the amount of software found in a fighter jet.

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4

ANALYSIS
Gulf economies can cope with escalating Yemen conflict

Economies and markets in the wealthy Gulf oil exporters barely blinked when Islamist militants overran parts of neighbouring Iraq last year, and they look likely to ride out escalating conflict in Yemen with similar ease.

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5

IMAGE OF THE DAY
Battling a fire

Firefighters battle a fire at the site of a residential apartment building collapse and fire in New York City's East Village neighborhood. Four apartment buildings caught fire from an apparent gas explosion, authorities said.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Dewa signs agreements for 200MW solar plant

Dubai Electricity and Water Authority (Dewa) has signed a power purchase agreement (PPA) and a shareholder agreement for the 200 MW-capacity second phase of the Mohammed bin Rashid Al Maktoum Solar Park, said a report.

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Retail & Wholesale

Red Sea Mall expansion cost to top $53m

The estimated value of expansion works taking place in Red Sea Mall, a leading shopping and leisure destination in Jeddah, is set to reach SR200 million ($53.3 million), said its executive chairman.

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Energy, Oil & Gas

Saudi beefs up security at borders, oil facilities

Top oil exporter Saudi Arabia plans to beef up security at its borders and around oil and industrial facilities, state news agency SPA reported on Thursday, citing a statement by Deputy Crown Prince Mohammed bin Nayef.

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Finance & Capital Market

Kuwait may offer stock market stake to foreign operator

The Kuwait Stock Exchange may offer up to 44 per cent of its shares to a company that has experience in operating bourses when it goes public, a senior government official told Reuters on Thursday.

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Analysis, Interviews, Opinions

Gulf economies can cope with escalating Yemen conflict

Economies and markets in the wealthy Gulf oil exporters barely blinked when Islamist militants overran parts of neighbouring Iraq last year, and they look likely to ride out escalating conflict in Yemen with similar ease.

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Industry, Logistics & Shipping

Saudi's Safco urea plant start-up delayed till May

The start-up of a new urea plant owned by Saudi Arabia Fertilizers Company (Safco) will be delayed to mid-May this year, the company said on Thursday.

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IT & Telecommunications

Card data threat increases as online payments grow

Leading experts in card data security have urged the regional payment industries to come together to tackle an increased threat to the integrity of card data as online and mobile payments grow in the Middle East and North Africa region.

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Lifestyle

McLaren to launch sports coupe at New York show

McLaren will unveil the first model to be launched in its Sports Series family, called the 570S Coupé in less than a week when it debuts at the 115th New York International Auto Show.

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Motoring

Porsche renews partnership with Dubai, Sharjah Police

Porsche Centre Dubai has renewed its partnership with Dubai Police and Sharjah Police for a road safety campaign that recognises and rewards safe driving on the emirates’ roads.

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Health & Environment

Dubai launches second phase of healthcare city

Dubai has announced the launch of the second phase of healthcare city to be developed on a sprawling 22 million sq ft area at a cost of Dh3 billion to Dh5 billion ($816 million to $1.36 billion), said a report.

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Media & Promotion

Facebook brings apps, businesses to Messenger service

Facebook on Wednesday opened up its Messenger service for developers to create apps and for shoppers to communicate directly with retailers, as the Internet company seeks to expand its reach.

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Education, HR & Training

$15.2m project to create jobs for youth, women in Jordan

A new $15.2 million project was signed in Rome aimed at reducing rural poverty, vulnerability and inequality in Jordan by creating employment and income-generating opportunities for the rural poor, especially women and youth.

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Miscellaneous

DEC to showcase innovative initiatives at Dubai expo

The Dubai Economic Council is set to showcase key achievements in the field of innovation and interactive initiatives as part of its vision as a strategic partner of the Dubai government’s decision-making process at a exhibition next week.

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