Friday 29 May 2015

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OPEC MAINTAINS PRODUCTION
Oil gains 1pc after US stocks drop for 4th week

Crude futures rose about one per cent on Friday after American inventories fell for a fourth straight week although prices are set for a weekly drop on a stronger dollar.

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1

WORLD HERITAGE SITE EXCAVATION
Ancient artefacts unearthed at Bahrain Fort

Ancient artefacts dating back thousands of years have been unearthed in Bahrain Fort, which includes a clay tablet bearing ancient cuneiform script and a golden plate with a figure of a woman engraved on it.

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2

MOVE LINKED TO GAS DEMAND
Saudi Aramco plans 250 rigs in 2016 if oil price soars

Saudi Aramco may raise the number of its oil and gas drilling rigs to as high as 250 next year if oil prices continue to firm and as domestic demand for gas increases, said industry sources.

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3

SPECIAL REPORT
Bankers test technology to attract millionaires

No longer is schmoozing over long lunches and fine wines enough; Swiss private bankers are turning to video games and virtual reality to attract a new generation of sceptical clients and see off digital rivals.

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4

ANALYSIS
New intelligent devices on the rise by 2020

The number of consumers who will purchase a wearable fitness monitor by 2020 is expected to rise by 28 per cent, said a report, highlighting a trend for new intelligent devices.

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5

NEWS IN PICTURES
Merkel ‘most powerful woman’

German Chancellor Angela Merkel tops Forbes list of the 100 most powerful women with other world leaders close behind. Taylor Swift is the youngest ever entry.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Pilosio wins Saudi mosque expansion contract

Pilosio, a leading European player in the production of scaffolding systems for the construction industry, said it has won a multi-million-dollar contract in Saudi Arabia to support the massive mosque expansion project in Madinah.

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Retail & Wholesale

Nakheel expands lease space at Ibn Battuta Mall

Dubai-based developer Nakheel is set to launch another 766,000 sq ft of shop and restaurant space for lease at Ibn Battuta Mall - the world’s largest themed shopping mall - on Monday (June 1).

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Energy, Oil & Gas

June Opec meeting 'won't cut output'

Opec is not expected to cut oil production at its meeting in June, and the meeting is expected to be a short one, Saudi Arabia's Al Hayat newspaper quoted an unnamed Opec source as saying on Thursday.

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Finance & Capital Market

Adib EGM to vote on capital raising plan

Abu Dhabi Islamic Bank (Adib) will hold an extraordinary general meeting (EGM) on June 21 to vote on a proposal to raise capital through a rights issue to support the bank’s continued growth.

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Analysis, Interviews, Opinions

New intelligent devices on the rise by 2020

The number of consumers who will purchase a wearable fitness monitor by 2020 is expected to rise by 28 per cent, said a report, highlighting a trend for new intelligent devices.

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Industry, Logistics & Shipping
Travel, Tourism & Hospitality

Etihad reports 52pc jump in annual profit

Etihad Airways, UAE’s national airline, has reported a 52 per cent rise in its annual profit, reaching $73 million from $48 million a year earlier, the carrier said in an emailed statement on Thursday.

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IT & Telecommunications

Ooredoo reviews financial and strategic progress

Ooredoo has updated its investors and analysts on the business’ financial and strategic progress as part of its transparent investor relations programme during its annual Capital Markets Day held in Doha, Qatar recently.

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Lifestyle

4Space wins top luxury lifestyle award

4Space Interior Design, a Dubai-based architecture and interior design company, has won the 2015 Luxury Lifestyle Award for Interior Design Studio Category “Luxury interior design Company of UAE” at a recent event in Dubai, UAE.

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Motoring

GAC Motor expands to Lebanon

GAC Motor, an automobile manufacturing company headquartered in Guangzhou, China, recently held an opening ceremony for its new office in Lebanon.

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Health & Environment

Private India hospitals go luxe for growth

Private hospital operators in India are all but rolling out a red carpet to lure affluent locals and tourists to seek medical treatment at their luxe facilities, offering cinemas, Rolls-Royces and plush rooms on site.

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Media & Promotion

Saab, DigitalGlobe to build earth 3-D model

US satellite imagery provider DigitalGlobe and Sweden's Saab AB have announced a new joint venture aimed at building an accurate 3-D model of the earth and capturing billions of dollars in new business.

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