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COST COULD JUMP TO $9bn
PetroRabigh construction delay to raise project cost
Saudi Arabian petrochemical company PetroRabigh said on Thursday it would again delay completion of an expansion project, raising the cost of the project to SR34 billion ($9.1 billion).
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DEALS WORTH $7bn
US approves Boeing, Lockheed fighter jet sales to Gulf
The US has approved $7 billion in long-stalled sales of Boeing fighter jets to Kuwait and Qatar, and more than $1 billion in Lockheed Martin jets to Bahrain, sources familiar with the decision said.
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PRICES JUMP 6pc
Opec agrees oil output cuts in first deal since 2008
Opec agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group's leader Saudi Arabia softening its stance on Iran amid mounting pressure from low oil prices.
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SPOTLIGHT
Airlines report 17pc rise in unruly passengers
Reports of unruly passengers disrupting airline flights have soared almost 17 per cent worldwide in 2015, the International Air Transport Association (Iata) said on Wednesday.
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MONEY MATTERS
Wells Fargo scam triggers debate on big bank culture
Tens of millions of dollars are spent each year on initiatives to build a culture of integrity, partly at the urging of US regulators. But the continuing spate of scandals reinforces doubts about the effectiveness of such efforts.
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NEWS IN PICTURES
Typhoon toll
A man inspects a collapsed crane after typhoon Megi's passage in eastern Taiwan on September 28. The storm, which paralyzed land and air traffic, left at least four people dead and 168 injured, and cut power to nearly 3.15 million homes.
Top Trade News
 | Industry Sectors |
Diyar Al Muharraq seals $366m project finance deal
Diyar Al Muharraq, one of the leading urban developers in Bahrain, has signed a $366-million agreement with a group of local banks to provide financial liquidity to develop the ‘Deerat Al Oyoun’ project.
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Oman signs deal to set up Iranian Bazaar
Oman and Iran have signed an agreement to establish Iranian Bazaar showcasing a variety of Iranian products in the wilayat of Barka in South Batinah, a report said.
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Siemens to demonstrate future of power supply at Wetex
Siemens, a global technology powerhouse, will illustrate the future of energy supply through its microgrid table and breakthrough energy storage solutions at the upcoming Water, Energy, Technology and Environment Exhibition in Dubai, UAE.
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SWIFT launches 1st phase of payments innovation
SWIFT, a global provider of secure financial messaging services, has completed the first phase of the global payments innovation (gpi) initiative pilot, clearing the way for the go-live of the service in early 2017.
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The world's most innovative universities
In the fast-changing world of science and technology, if you're not innovating, you're falling behind, says a new report entitled “The Reuters 100: The World's Most Innovative Universities”.
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China's Cosco wins Abu Dhabi container terminal deal
China's Cosco Shipping Ports will invest $400 million in building a container terminal in Abu Dhabi as the emirate aims to expand trade with the world's second largest economy, a senior company official said on Wednesday.
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Oman Air reveals expansion, growth plans
Oman Air has revealed a growth plan that focuses on increasing revenues and reducing costs, while expanding both the fleet and routes.
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Cisco launches cloud-based security solutions
Cisco has announced new services and cloud-based security solutions built with Cisco’s threat-centric security architecture.
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Analeena joins My Wedding Party in Bahrain
Celebrity hand bag designer brand Analeena will make GCC debut at My Wedding Party, set to be held in Bahrain in March 2017.
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EK Kanoo delivers new fleet to Arabian Taxi
Ebrahim K Kanoo, the sole distributor of Toyota vehicles in Bahrain, delivered five seven-seater Toyota Previa units to Arabian Taxi as part of a growing business relationship between the two companies.
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Haya Water aims to raise capacity 10-fold
Oman’s Haya Water, a major sewage treatment plant, plans to raise capacity to 900,000 cu m per day by year 2045 from the current intake capacity of 70,000 cu m, a top official said.
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Bahrain's Cineco, Majid Al Futtaim to form JV
Bahrain Cinema Company (Cineco) and Majid Al Futtaim Cinemas have announced a joint venture which will operate and expand the current 8,000-sq-m cinema at Majid Al Futtaim’s City Centre Bahrain in Manama.
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Emirates, Unilever top graduate employers in UAE
Dubai-based airline Emirates Group is the most popular employer for fresh university graduates in the UAE, followed by international consumer goods company Unilever, according to the latest research by online recruitment firm GulfTalent.
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US to boost military presence in Iraq for Mosul battle
Iraqi Prime Minister Haider al-Abadi said on Wednesday that Washington would send more US troops to help local forces in the battle to retake Mosul from Islamic State expected later this year.
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