Sunday 23 April 2017

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CABINET RESHUFFLE DECREED
Saudi King Salman restores benefits to state employees

Saudi Arabia’s King Salman bin Abdulaziz Al Saud has issued a royal decree to restore financial allowances for civil servants and military personnel that had been cut under austerity measures, media reports said.

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1

NATIONAL MOURNING DECLARED
Over 100 soldiers dead as Taliban hits Afghan army base

Taliban fighters dressed in military uniforms raided an army base in northern Afghanistan on Friday, raking it with gunfire in an hours-long attack that killed or injured more than 100 soldiers, said a report, citing senior officials.

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2

SOUTH AMERICA MARKET BOOST
Global steel demand to hit 1.5bn MT in 2017

Global steel demand will grow by 1.3 per cent to more than 1.5 billion metric tonne in 2017, and increase by 0.9 per cent to a little over 1.548 billion MT in 2018, said a report, citing the World Steel Association.

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3

SPECIAL REPORT
Robust Mideast activity despite global dip

Global cross-border M&A activity continued to dip as political turbulence and economic uncertainty become the new normal for dealmakers, whilst deal flow in the Middle East remained stable, according to a new report.

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4

ANALYSIS
World economic outlook: Gaining momentum?

With buoyant financial markets and a long-awaited cyclical recovery in manufacturing and trade under way, world growth is projected to rise from 3.1 per cent in 2016 to 3.5 per cent in 2017 and 3.6 per cent in 2018, the IMF said.

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5

IMAGE OF THE DAY
Devillard leaps to glory

Coline Devillard (C) of France poses with her gold medal on the podium after winning the women's Vault final during the 2017 Artistic Gymnastics European Championships at Polivalenta Sports Hall in Cluj-Napoca, Romania, on April 22. -epa

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Manara to unveil novel housing projects at Gulf Property Show

Manara Developments, a leading real estate development company, is set to launch two unique housing projects - Hasabi and Wadi Al Riffa - at the Gulf Property Show 2017 which opens this week in Manama, Bahrain.

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Retail & Wholesale
Energy, Oil & Gas

Siemens JV to help boost Egypt oil generator business

State-run Egyptian electricity groups have announced plans to join hands with German industrial giant Siemens to set up a new company which will help boost the oil generator business in the country.

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Finance & Capital Market

Saudi Tadawul issues new rules for loss-making firms

Saudi Stock Exchange (Tadawul) will implement new procedures related to listed companies with accumulated losses reaching 20 per cent or more of its share capital as of April 22, said a report, citing the kingdom's top bourse.

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Analysis, Interviews, Opinions

Populism across the West to drive GCC economy

As the rising tide of populism in the West erodes the foundations of the open market, the apparent retreat from globalisation may result in the GCC’s capital markets gaining huge momentum for growth, said an industry expert.

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Industry, Logistics & Shipping

Saudi-Korean JV to set up $50m chemical plant

Saudi-based Maydan Industry said it will join forces with Ahmad Kassim Al Amoudi Group and Korean technology major SFC to set up a SR189 million ($50.3 million) manufacturing plant at PlasChem Park in Jubail region of the kingdom.

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Travel, Tourism & Hospitality

Etihad to debut world’s first mobile expo unit at ATM

UAE's national carrier Etihad Airways said it is set to launch the world’s first mobile exhibition unit at the upcoming Arabian Travel Market (ATM), the Middle East region's premium travel and tourism show, to be held in Dubai, UAE.

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IT & Telecommunications

Vodafone Egypt partners with Procera Networks

Vodafone Egypt has signed a multi-year, multi-million dollar partnership with Procera Networks to enhance the subscriber experience for its fixed and mobile subscribers.

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Lifestyle
Motoring

Al Ghandi sells 112 vehicles to Dubai CRC

Al Ghandi Auto, a leading General Motors dealership selling Chevrolet and GMC vehicles in Dubai and the North Emirates, signed an agreement with the Dubai Camel Racing Club (Dubai CRC) for the sale of 112 Chevrolet vehicles.

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Health & Environment

Saudi Arabia set to build five hitech hospitals

Saudi government has launched health projects worth more than SR1.1 billion ($293 million), including five modern hospitals, in the Najran region of the kingdom, said a report.

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Media & Promotion

Hilal Conferences and Exhibitions launches 3G Festival

Bahrain-based Hilal Conferences and Exhibitions is adding a new dimension to its popular '3 Exhibitions under One Roof,' with a new festival at Gulf Construction Expo. It will feature live music from local Bahraini bands and food trucks.

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Education, HR & Training

Bahrain hosts debut AlMabarrah youth forum

The inaugural youth forum organised by AlMabarrah AlKhalifia Foundation with focus on the effect of leadership, entrepreneurship and volunteerism in developing the youth, ended on a successful note in Bahrain.

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Miscellaneous

Global steel demand to hit 1.5bn MT in 2017

Global steel demand will grow by 1.3 per cent to more than 1.5 billion metric tonne in 2017, and increase by 0.9 per cent to a little over 1.548 billion MT in 2018, said a report, citing the World Steel Association.

More…
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