Wednesday 16 April 2014

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$4 TRN JOBS SEEN IN MIDEAST
Projects boom in GCC; $40bn deals in Q1

The projects markets of the Middle East are set to enjoy a record-breaking year in 2014 with more than $40 billion worth of new contracts awarded in the GCC alone in the first quarter, a report said.

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1

HOUSING COSTS JUMP
Dubai inflation up 3pc, highest since 2009

Dubai's consumer inflation rose 3.0 per cent in March compared to the same month last year, registering the highest increase since August 2009.

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2

SYRIA POLICY ARCHITECT
Saudi spy chief Prince Bandar replaced

Saudi Arabian intelligence chief Prince Bandar bin Sultan, the architect of Riyadh's attempts to bring down Syrian President Bashar al-Assad, has been removed from his post, state media reported on Tuesday.

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3

ANALYSIS
Growth optimism high despite rise in rates

Investor confidence in global economic growth remains high even as expectations of higher short-term rates increase, a report said.

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4

ANALYSIS
Economic impact of Expo 2020 ‘could spill over in region’

Expo 2020 will be a major “game changer for Dubai” whereby it will create significant changes – whether opportunities or challenges – in most industries and market sectors that could spill over to other countries in the region, say experts.

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5

IMAGE OF THE DAY
Wedded to glaciers

Greenpeace activists Nicole and Enrique throw snow during their symbolic wedding at the El Morado hanging glacier at the territories of "Republica Glaciar" (Glacier Republic), at Los Andes Mountain range, near Santiago city.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Riyadh metro project work kicks off

Saudi Arabia has begun construction work on its long awaited first metro rail system in Riyadh. The multi-billion project will involve six rail lines extending 176 km.

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Energy, Oil & Gas

SEC plans 17 new energy projects in Saudi

Saudi Electricity Company is set to implement 17 new projects worth SR7.2 billion ($1.9 billion) as part of its efforts to meet the growing demand for energy, said a report.

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Finance & Capital Market

Bank Muscat Q1 net profit jumps 59pc

Bank Muscat, Oman's largest lender, missed analysts' expectations despite posting on Wednesday a 59.1 percent jump in its first-quarter net profit, as it didn't repeat a one-off fraud provision that it was forced to make last year.

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Industry, Logistics & Shipping

Sabic showcases steel products at Riyadh expo

Saudi Basic Industries Corp showcased its wide range of steel products for the building and construction sector at the Metal & Steel Saudi Arabia 2014 exhibition held recently in Riyadh.

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Travel, Tourism & Hospitality

Etihad, Fiji Airways sign interline deal

Etihad Airways, the national airline of the United Arab Emirates, and Fiji Airways, the flag carrier of the country, have announced a new and far reaching interline agreement between the two carriers.

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IT & Telecommunications

Zain Saudi Q1 net loss narrows

Zain Saudi reported a first-quarter loss on Wednesday which narrowed from a year earlier and beat analyst forecasts as the telecom operator cut costs and data revenue surged.

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Government & Laws

Saudi spy chief Prince Bandar replaced

Saudi Arabian intelligence chief Prince Bandar bin Sultan, the architect of Riyadh's attempts to bring down Syrian President Bashar al-Assad, has been removed from his post, state media reported on Tuesday.

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Motoring
Health & Environment

Saudi plans $3bn waste recycling project

The Saudi government has signed a memorandum of understanding (MoU) with a national company to establish a project to recycle waste, a report said.

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Media & Promotion

Kassab Group launches major expansion drive

Kassab Group, a leading media services and solutions provider in the Mena region, has planned a major expansion programme comprising acquisition of strategic new projects and an enhancement to its senior management structure.

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Education, HR & Training

Saudi tops in Web of Science growth

Saudi Arabia achieved the highest percentage of growth in output during the last decade among the G20 members with 373 per cent increase in output of Web of Science Papers.

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Miscellaneous

Bahrain’s military costs surge 26pc to top $1.2bn

Bahrain’s military expenditure increased by 26 per cent last year to $1.236 billion - and has rocketed by 110 per cent since 2004, a report said, adding that tensions with Iran caused defence spending to more than double in a decade.

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