Wednesday 25 May 2016

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DESPITE SPENDING CUTS
Iraq aims to pump 6 million bpd in 2020

Iraq is sticking to an aspiration to increase its oil output by up to a third by 2020 despite warnings from some companies working in Opec's second-largest producer that projects could be delayed due to spending cuts.

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WATER HOMES, FLOATING HOTELS
Dubai Holding unveils $272m waterfront development

Dubai Holding has announced the launch of its new Dh1-billion ($272 million) master-planned waterside development, 'Marasi Business Bay,' which will feature UAE’s first-ever water homes and floating restaurants along the Dubai Creek.

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2

'MERE ASSUMPTIONS'
Forensics head denies EgyptAir explosion reports

Egypt's head of forensics denied reports that an initial examination of human remains belonging to victims aboard the EgyptAir jet that crashed in the Mediterranean pointed towards an explosion, state news agency Mena said on Tuesday.

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Slow response to past crashes could hinder EgyptAir search

Teams searching for the black box flight recorders of a missing EgyptAir jet that crashed with 66 people aboard face technical constraints that aviation experts increasingly blame on a slow regulatory response to earlier disasters.

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4

OPINION
UAE solar push may trigger a trend for the Gulf

As the Gulf states take steps to expand their use of clean energy, a bold plan by the UAE to boost its use of renewable electricity from less than one per cent to 24 per cent in the next five years could be a game-changer for the region, experts say.

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5

NEWS IN PICTURES
Ivanovic wins

Ana Ivanovic of Serbia in action against Oceane Dodin of France during their women's single first round match at the French Open tennis tournament at Roland Garros in Paris, France, May 23. Ivanovic won 6-0, 5-7; 6-2.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Dubai opens world’s first 3D-printed building

Dubai has become home to the world’s first fully functional 3D-printed building which was constructed using a special mixture of cement and a set of building materials designed and made in the UAE and the US, said a report.

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Retail & Wholesale

Dubai retains Top 2 international retailer slot

Dubai has retained its position as the second most important international shopping destination globally for the fifth consecutive year, closely behind London, said a report.

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Energy, Oil & Gas

Oil rises on US crude drawdown hopes

Oil prices rose on Tuesday as investors anticipated a weekly drawdown in US crude inventories that they hoped would boost prices closer to $50 a barrel, while a rally on Wall Street also lent support.

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Finance & Capital Market

NBK - Egypt reports $20.96m Q1 profit

National Bank of Kuwait-Egypt (NBK-E) reported net profits of EGP186.6 million ($20.96 million) for the first quarter of 2016 compared with EGP126.3 million for the same period in 2015, growing at 47.7 per cent year-on-year.

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Analysis, Interviews, Opinions

UAE solar push may trigger a trend for the Gulf

As the Gulf states take steps to expand their use of clean energy, a bold plan by the UAE to boost its use of renewable electricity from less than one per cent to 24 per cent in the next five years could be a game-changer for the region, experts say.

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Industry, Logistics & Shipping

GE to supply inverters to Dewa’s solar project

GE will provide 220-megawatt (MW) LV5 Series solar inverters for Dubai Electricity and Water Authority’s (Dewa) solar project in Dubai, UAE, the largest of its kind in the Middle East region.

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Travel, Tourism & Hospitality

Dubai to see 2.5m Saudi tourists by 2020

Ranked among the top destination choices for Saudi Arabian travellers, Dubai can expect to see tourist arrivals from the kingdom hit 2.5 million a year by 2020, said a report quoting an Emirati official.

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Motoring

Nissan Kicks to be made available in August

The Nissan Kicks, the all-new global compact crossover, will be available for sales in Brazil in August, followed by Latin American left-hand drive markets later in 2016. Ultimately, it will be introduced in more than 80 global markets.

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Health & Environment

Thumbay in deal to develop UAE healthcare projects

UAE-based Thumbay Builders has signed a deal to develop several major projects for the Gulf Medical University (GMU) in the emirate of Ajman and help expand its healthcare facilities.

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Media & Promotion

Twitter drops photos, videos from 140-character limit

User names and media attachments such as photos and videos will no longer count toward the length of a tweet, Twitter Inc said on Tuesday, but the 140-character limit will stay.

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Education, HR & Training

Employee wellness programme helps drive growth: experts

Investing in employee wellness programmes is key to driving profitability and growth amid challenging business times, say some of the region’s top business leaders.

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Miscellaneous

Iconic planes on display at Bahrain exhibition

A new exhibition celebrating the strong civil and military aviation heritage between Bahrain and the United Kingdom will open at the Bahrain National Museum tomorrow (May 23) with iconic planes on display.

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