Wednesday 5 August 2015

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FIRST DIVIDEND ANNOUNCED
Damac Properties Q2 profit triples

Dubai's Damac Properties on Wednesday said its second-quarter profit more than tripled as its subsidiary's revenue rose.

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1

HIGHER TAXES BLAMED
UAE telecom firm du Q2 profit falls 8pc

Du, the United Arab Emirates' No.2 telecoms operator, blamed higher taxes as it reported an 8 per cent fall in second-quarter net profit on Wednesday that was in line with analyst estimates.

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2

RISING EXPLORATION
Saudi oilfield chemicals market to top $960m

Rising oil and gas production in Saudi Arabia, along with anticipated increase in the exploration of shale gas deposits, are likely to drive the kingdom’s oilfield chemicals market to surpass $960 million by 2020, a report said.

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3

SPECIAL REPORT
Consumers choose marketplace over retail websites

Digital shoppers are increasingly starting their product searches on retail marketplace platforms, which allow third-party merchants to sell goods, before looking on an individual retailer's website, a report said.

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4

OPINION
Oil industry frets about another lost decade

Oil is an inherently cyclical business. The point is remarkably simple but it is amazing how often it gets forgotten by forecasters and investors, says a Reuters market analyst.

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5

NEWS IN PICTURES
7-star movie experience

Novo Cinemas has launched its first-of-a-kind seven-star theatre at Bahrain's Seef Mall Muharraq. The NOVO 7-STAR features reclining seats, cosy pillows and blankets and individual iPads for easy ordering as well as a butler service.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Dubai to build world’s largest indoor ski slope

Dubai has announced plans to build the world’s largest indoor ski slope with a 1.2-kiolmetre run within a new 25,000-sq-m indoor multi-purpose sports facility.

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Retail & Wholesale

7-Eleven UAE chooses Carrier refrigeration

Carrier Commercial Refrigeration has been chosen to supply refrigeration equipment to 7-Eleven franchise stores, opening in the UAE this year.

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Energy, Oil & Gas

UAE savings from fuel price reform to rise sharply

The government of the UAE will save only a modest amount of money from reforms to its fuel price system in 2015 but the savings are likely to rise sharply in coming years, an International Monetary Fund (IMF) official said on Tuesday.

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Finance & Capital Market

Ahli United H1 profit up 6pc to $278m

Bahrain’s Ahli United Bank (AUB) reported a net profit of $278.4 million for the first half (H1) of the year, as against $262.5 million during H1 2014, marking an increase of 6.1 per cent.

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Analysis, Interviews, Opinions

Consumers choose marketplace over retail websites

Digital shoppers are increasingly starting their product searches on retail marketplace platforms, which allow third-party merchants to sell goods, before looking on an individual retailer's website, a report said.

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Industry, Logistics & Shipping

Saudi oilfield chemicals market to top $960m

Rising oil and gas production in Saudi Arabia, along with anticipated increase in the exploration of shale gas deposits, are likely to drive the kingdom’s oilfield chemicals market to surpass $960 million by 2020, a report said.

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Travel, Tourism & Hospitality

Emirates launches third daily Birmingham service

Dubai-based Emirates has commenced its third daily service to Birmingham, England, bringing the total number of non-stop flights per week from Dubai to the UK to 119.

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IT & Telecommunications

GE unveils customised cloud service for industries

General Electric Co said on Wednesday it is developing a cloud-based service tailored for industrial customers, the latest step in the US conglomerate's effort to gain business from data generated by machines.

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Lifestyle

Swiss skin brand launches anti-aging products in UAE

Vinoderm, a well-known Swiss brand developed by Skin Concept Laboratory, has launched in UAE its anti-aging products derived from ‘Pinot Noir’, a variety of elite red grapes cultivated at the foothills of the Swiss Alps.

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Motoring

Iran: The next automotive hotspot in Middle East?

Cooperation with foreign auto industries and the resulting modern technology as well as vast options in models and makes will give the push needed to make Iran an automotive hub in the Middle East, an industry expert said.

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Health & Environment
Media & Promotion

UAE’s digital signages 'can sustain high temperatures'

The latest outdoor digital signage in the UAE can sustain high temperatures and provide brands with another powerful platform throughout the year, according to International Expo Consults (IEC), a part of Falak Holding.

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Education, HR & Training

100 Emirati students to get news skills in Ireland

About 100 UAE students have left for Ireland as part of a Ministry of Education programme aimed at imparting practical, scientific and life skills to the youngsters.

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Miscellaneous

Mandilicious opens new outlet in Jeddah

Mandilicious, a leading restaurant chain to serve the slow-cooked ‘Cuisine of Arabia’ in a food court setting, has opened a new outlet in the Al Salaam Mall in Jeddah, Saudi Arabia.

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