Thursday 24 April 2014

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ISSUE DRAWS $2.3bn
New Dubai sukuk opens door for more

Dubai's government hopes its first 15-year sukuk issue - an unusually long tenor for an Islamic bond - will pave the way for long-term debt sales by its state companies, the Department of Finance said.

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1

JEDDAH TOP MARKET
Prime office rents up 6pc in Saudi Arabia

Office rents in Saudi Arabia witnessed a 6 per cent year-on-year increase in the first quarter, aided by growth in the finance and business services and public administration sectors, a report said.

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2

FIRST PATIENT IN MAKKAH
Saudi reports 11 new cases of Mers virus

Saudi Arabia said on Wednesday it had discovered 11 more cases of the potentially deadly Middle East Respiratory Syndrome (Mers), including what appeared to be the first case in the holy city of Makkah.

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3

SPOTLIGHT
Property bubble? 'Not in Abu Dhabi'

Abu Dhabi remains far from entering a boom-and-bust cycle in its real estate market even though property prices in the wealthy emirate are rising sharply, executives said at a major industry fair.

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4

OFFBEAT
Burj Al Arab offers 'wedding in the sky'

Burj Al Arab, the world's most luxurious hotel, is taking romance to new heights offering weddings in the sky, 212 metres above the azure Arabian Gulf on the famous Burj Al Arab helipad.

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5

IMAGE OF THE DAY
In shambles

A damaged car is seen past damaged buildings in Al-Maliha town, in the suburbs of Damascus.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Saudi launches world's largest desal plant

Saudi Arabia has commissioned the first phase of the world's largest desalination project, being built at a cost of SR27 billion ($7.2 billion) in Ras Al Khair, a report said.

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Retail & Wholesale

Gitex Shopper Spring opens with great deals

Gitex Shopper Spring 2014, the region’s largest consumer IT and electronics show, was inaugurated this morning (April 23) by Sheikh Mansour bin Mohammed bin Rashid Al Maktoum in Dubai.

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Energy, Oil & Gas

Bahrain 'open to JVs in oil exploration'

Bahrain is open to new joint ventures, especially in the fields of oil and gas exploration and downstream facilities, said a senior government official.

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Finance & Capital Market

DFM net profit soars 696pc in Q1

Dubai Financial Market (DFM) has recorded a net profit of Dh215.1 million ($58.5 million) for the first quarter of the year, a 696 per cent leap compared to Dh27 million during the corresponding period of 2013.

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Analysis, Interviews, Opinions

Burj Al Arab offers 'wedding in the sky'

Burj Al Arab, the world's most luxurious hotel, is taking romance to new heights offering weddings in the sky, 212 metres above the azure Arabian Gulf on the famous Burj Al Arab helipad.

More…
Industry, Logistics & Shipping

Alba to host top aluminium event in Bahrain

Aluminium Bahrain (Alba), a key player in the aluminium industry, will host the 18th International Arab Aluminium (Arabal) Conference in November 2014 under the theme - “GCC: An aluminium power house”.

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Travel, Tourism & Hospitality

Four Seasons soars with first branded jet

The sky is literally the new limit as Four Seasons continues to reimagine luxury hospitality with the introduction of the Four Seasons Jet, the industry’s first fully branded private jet experience.

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IT & Telecommunications

BT, Viva to build major interoperability hub in Bahrain

BT, one of the world’s leading providers of communications services and solutions, has signed an agreement with Viva Bahrain to build a Global IP Exchange (GIPX) interoperability hub in Bahrain.

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Government & Laws

Bahrain MPs push for driving curbs on expats

Some of members of Bahrain's parliament yesterday again pushed for expats to be banned from driving unless they need to for work, puttin the tough new traffic law is in danger of being shelved, a report said.

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Motoring

Chevrolet posts 47pc sales growth in UAE

Chevrolet has posted a 47 per cent increase in sales in the UAE for the first quarter compared to the same period last year, making the country one of the highest growing markets in the Middle East for the quarter.

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Health & Environment

Saudi reports 11 new cases of Mers virus

Saudi Arabia said on Wednesday it had discovered 11 more cases of the potentially deadly Middle East Respiratory Syndrome (Mers), including what appeared to be the first case in the holy city of Makkah.

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Media & Promotion

Saudi to regulate homegrown YouTube shows

Saudi Arabia plans to regulate local companies that screen shows on YouTube, a senior official was quoted as saying in local media - a move that could stifle its nascent creative industries.

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Education, HR & Training

Thomson Reuters in deal with Saudi Digital Library

Thomson Reuters, a leading source of intelligent information, has signed an agreement with the Saudi Digital Library to support the transformation of the Kingdom to a knowledge-based economy.

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Miscellaneous

US to deliver 10 attack helicopters to Egypt

The US said on Tuesday it will deliver 10 Apache attack helicopters to Egypt, relaxing a partial suspension of aid imposed after Egypt's military ousted President Mohamed Mursi last year and cracked down violently on protesters.

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