Monday 27 April 2015

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VILLA DEALS DOWN 57pc
Strong dollar erodes Dubai residential sale prices

The strong US dollar continued to hit Dubai property prices during the first quarter of the year, but apartment transaction volumes remain resilient, said an industry expert, adding that the market downturn is drawing selective investment.

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1

NEW HALLS, CAR PARK PLANNED
Dubai World Trade Centre set for major expansion

Dubai World Trade Centre (DWTC) has announced plans to build a 15,500 sq-m extension to its current indoor complex space in bid to capitalise on the double-digit growth in exhibitions sector and international business tourism.

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2

KINGDOM TO MAINTAIN SHARE
Saudi high oil output based on demand: minister

Saudi Arabia's high crude oil production policy is based on the status of global demand and the top oil exporter is keen to maintain its market share, the kingdom's deputy oil minister said on Monday.

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3

MONEY MATTERS
Abu Dhabi rolls out red carpet for market makers

The two main stock exchanges in the UAE are trying to attract market makers but some industry professionals say Abu Dhabi is offering more generous financial terms and more liberal rules than Dubai, suggesting it may have more success.

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4

ANALYSIS
Mobile apps—the new face of business

If companies cannot provide customers with a mobile app experience that accurately reflects the values of their brand, they risk seeing their competition pull ahead with a more convincing mobile offering, says new research from Oracle.

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5

IMAGE OF THE DAY
Saying YES to Abu Dhabi

India’s fifth largest private sector lender Yes Bank opened its first overseas representative office in Abu Dhabi, UAE, on April 26 in the presence of Sheikh Nahayan Mabarak Al Nahayan, Minister of Culture, Youth, and Social Development.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Asian contractors win $290m Saudi Tasnee project

Leading Asian contractors - Taiwan's CTCI and Japan's Chiyoda - have won a major contract from Saudi Arabia's National Industrialisation Company (Tasnee) to build a $290-million titanium sponge plant in the Yanbu region of the kingdom.

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Retail & Wholesale

Contracts worth $326m signed at DEAL

The Dubai Entertainment, Amusement and Leisure Show (DEAL) 2015 recorded more than Dh1.2 billion ($326.6 million) worth of signed contracts, said event organisers.

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Finance & Capital Market
Analysis, Interviews, Opinions

Quake warnings of minutes, not hours, are possible

Nepal's record of earthquakes dates to at least the 13th century, with significant temblors striking every 75 years or so. And through all that time, people in the path of destruction have had no idea when the shaking would start.

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Industry, Logistics & Shipping

Gulf Warehousing posts 40pc jump in Q1 profit

Qatar-based Gulf Warehousing Company said it has registered a strong 40 per cent increase in its net profit for the first quarter compared to the previous year, thus giving a bullish start to 2015.

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Travel, Tourism & Hospitality

Saudi Arabia's hotel market booming

Saudi Arabia’s hospitality market can expect to witness high levels of new supply over the next three years as many of the previously delayed projects come to fruition, said a recent report.

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IT & Telecommunications

Low IT spend leaves ME firms open to cyber attacks

Middle East businesses are spending less than 1 per cent of their overall IT budgets on security, leaving them vulnerable to cyber attacks, said an industry expert.

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Lifestyle

Living UAE’s ‘high life’ could leave expats hard up

The lavish lifestyle options offered by Dubai and Abu Dhabi and the “upgrade” culture in the UAE could lead many expatriates to end up spending far more money than they initially budgeted for, said a financial expert.

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Motoring

Dubai launches ‘Back off Radio’ for taxis

Dubai Roads and Transport Authority (RTA), in partnership with Arabian Radio Network (ARN) has created a device called ‘Back off Radio’, which will alert drivers when they are too close to the car in front.

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Health & Environment

Mediclinic to build new hospital in Dubai

Mediclinic Middle East, a leading private healthcare group, has announced plans to construct a new general hospital on a 500,000-sq-ft area at Umm Suqeim Road in Dubai, UAE.

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Media & Promotion

First Emirati artist aims to enter Bollywood

Adel Farooq, a natural actor who sings fluently in Hindi and Urdu aims to be the first Emirati artist to be become part of Bollywood, the Hindi-language film industry in India.

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Education, HR & Training

Dubai varsity in deal to promote Spanish studies

The American University in Dubai (AUD) and the Spanish Government represented by the Ministry of Foreign Affairs and Cooperation have signed a deal to support Spanish studies pertaining to language, culture and literature at the university.

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Miscellaneous

Fighting escalates across Yemen, first air strikes on Sanaa

Air raids, naval shelling and ground fighting shook Yemen on Sunday in some of the most widespread combat since a Saudi-led alliance intervened last month against Iranian-allied Houthi militia who have seized wide areas of the country.

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