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BOEING, FEDEX BACK OPEN AIR PACT
US aviation giants split on GCC carrier subsidy row
A push by three US airlines to curb competition from GCC carriers has exposed divisions over free trade with other powerful players Boeing and FedEx, potentially complicating the campaign for Obama administration support.
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BAHRAIN-KUWAIT LINK
GCC rail network infrastructure to top $15.4bn
The overall cost of the planned infrastructure for GCC railway network linking Kuwait and Bahrain through Dammam in Saudi Arabia, via the planned King Hamad Causeway, is estimated to top $15.4 billion, said a report.
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PROPERTY WORTH $2.25bn
Qatar acquires landmark Milan business district
Qatar's sovereign fund will become sole owner of a prime real estate area in Milan, which has a market value of more than 2 billion euros ($2.25 billion) and is home to the new high-rise headquarters of Italy's UniCredit .
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SPECIAL REPORT
Watch out for nasty global flu surprises, WHO warns
The world remains highly vulnerable to a possible severe flu pandemic and governments should increase surveillance, vigilance and preparedness, the World Health Organization (WHO) has warned.
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SPOTLIGHT
Drilling decline inevitable as oil price remains low
Onshore drilling is set to decline 20 per cent this year, resulting in the smallest annual production growth for six year at just one per cent, according to a report.
Top Trade News
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GCC rail network infrastructure to top $15.4bn
The overall cost of the planned infrastructure for GCC railway network linking Kuwait and Bahrain through Dammam in Saudi Arabia, via the planned King Hamad Causeway, is estimated to top $15.4 billion, said a report.
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Gap cuts full-year earnings forecast
Apparel retailer Gap forecast a drop in full-year profit, citing a strong dollar, shipment delays due to disruptions at US West Coast ports and declining sales at its flagship Gap brand.
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Oil up sharply; posts first monthly gain since June
Crude oil rose sharply on Friday as Brent and US futures posted their first monthly gains since June, supported by an improving demand outlook and supply outages.
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GCC governments must prepare for post-oil era
Cuts in public spending, the widespread introduction of taxation and rising levels of unemployment are set to hit Bahrain over the coming decade, according to a report.
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Watch out for nasty global flu surprises, WHO warns
The world remains highly vulnerable to a possible severe flu pandemic and governments should increase surveillance, vigilance and preparedness, the World Health Organization (WHO) has warned.
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Solar Impulse 2 soars across skies of Abu Dhabi
Solar Impulse 2, a solar aircraft of Swiss pioneers Bertrand Piccard and André Borschberg, has soared across the skies of Abu Dhabi, UAE, during its first test flights in the emirate recently.
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UAE airlines cleared to resume Baghdad flights
The UAE's civil aviation regulator has given approval for local carriers to resume flights to Baghdad, reversing a directive that halted flights after bullets hit a Dubai plane as it landed in the Iraqi capital late last month.
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Cybersecurity remains a top concern in Mideast
Cybercrime has been identified as the second most common form of economic crime in the Middle East, with the region’s cybersecurity market set to grow 84 per cent to hit $9.56 billion in 2019, according to a recent PwC survey.
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Two Porsches to make global debut
German sports car manufacturer Porsche will celebrate the world premiere of two extreme sports cars at the 2015 Geneva International Motor Show, which will be held in Geneva, Switzerland, from March 3 to 15.
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Fiat Chrysler recalling 467,500 SUVs worldwide
Fiat Chrysler Automobiles said on Friday it will recall about 467,500 SUVs worldwide in order to fix a fuel-pump issue that could cause the engine to either stall or not start.
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Bahrain to cut medicine prices by 50pc
Bahrain will slash prices of hundreds of medicines used for treatment of eye, ear, nose and gynaecology by 50 per cent starting from tomorrow (March 1) in line with a GCC decision to unify cost of drugs, said a report.
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2022 World Cup final ‘no later than Dec 18’
The World Cup final in Qatar in 2022 should be played no later than December 18, Fifa president Sepp Blatter said on Friday.
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Online education tools use ‘results in better outcomes’
The opportunities that online education tools provide in terms of student assessment, engagement and education outcomes was discussed at the recently concluded 2015 Global Education Forum in Dubai, UAE.
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UAE, Kuwait to reopen embassies in Yemen
The United Arab Emirates and Kuwait will reopen their Yemeni embassies in the southern city of Aden instead of the capital Sanaa, the two countries' state news agencies said on Friday.
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