Sunday 2 August 2015

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KEY FINDINGS
Malaysia confirms debris 'is part of Boeing 777'

Malaysia said on Sunday that airplane debris that washed up on the Indian Ocean island of Reunion has been identified as being from a Boeing 777, the same model as Malaysian Airlines flight MH370 which vanished early last year.

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1

FLEET RENOVATION
Iran plans to purchase 90 aircraft annually

Iran plans to buy as many as 90 planes per year from Boeing and Airbus to revamp its antiquated fleet once Western sanctions are lifted, its state news agency IRNA quoted a senior aviation official as saying on Sunday.

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2

OIL PRICE FALL
Oman swings to $3.9bn deficit in Jan-May

Oman posted a budget deficit of RO1.50 billion ($3.90 billion) in the first five months of this year, swinging from a RO232.9 million surplus a year earlier.

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3

INSIGHT
Apple, BMW in courtship with eye on car tie-up

As BMW has realises next-generation vehicles cannot be built without more input from software experts, and Apple explores how make a self-driving electric car, the two companies may be closer to a tie-up than ever before, a report said.

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4

ANALYSIS
Iran on the cusp of big boost in automotive market

Iran's automotive market is set for a major boost as customers wait for foreign manufacturers to launch operations in about six months’ time when the country will be business-ready following the deal with world powers, a report said.

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5

NEWS IN PICTURES
Majesty on high seas

UAE-based Gulf Craft will showcase its Majesty Yachts at the 2015 Sydney International Boat Show, the largest recreational marine event in the southern hemisphere, which kicked off today (July 30).

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Villamar restructuring deal signed; work restarts

Gulf Holding Company (GHC), developers of Bahrain's Villamar project, has signed restructuring agreements with support from Al Rajhi Bank, GFH and Al Hamad Construction.

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Energy, Oil & Gas

Two Iran oil firms taken off EU sanctions list

The European Union has removed two Iranian oil companies from its sanctions list, the first such action since Iran reached a nuclear agreement with world powers earlier this month, a notice from the British finance ministry said on Friday.

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Finance & Capital Market

Barwa Bank posts 16pc increase in total assets

Qatar-based Barwa Bank has registered a 16 per cent jump in total assets for the first half of 2015, hitting QAR41.3 billion ($11.3 billion), with a 10 per cent increase in financing assets alone to exceed QAR24.4 billion ($6.7 billion).

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Analysis, Interviews, Opinions

Apple, BMW in courtship with eye on car tie-up

As BMW has realises next-generation vehicles cannot be built without more input from software experts, and Apple explores how make a self-driving electric car, the two companies may be closer to a tie-up than ever before, a report said.

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Industry, Logistics & Shipping

UPS triples annual number of miles driven

UPS, a global leader in logistics, logged 154 million miles (248 million km) in 2014, marking a nearly three-fold increase from the distance recorded in the previous year, toward its goal of driving one billion miles by the end of 2017.

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Travel, Tourism & Hospitality

Bin Laden relatives killed in private jet crash in UK

A private jet crashed in southern England on Friday, killing four people on board, a spokesman for Hampshire police service said, and Saudi and British media said the passengers were relatives of deceased al Qaeda leader Osama Bin Laden.

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IT & Telecommunications

FB drone ‘ready for real-world testing later this year’

Facebook announced on Thursday it has completed building its first full-scale drone, which has the wingspan of a Boeing 737 and will provide Internet access to the most remote parts of the world.

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Lifestyle

Yahoo buys social shopping site Polyvore

Yahoo Inc said on Friday it agreed to buy fashion start-up Polyvore to help drive traffic and strengthen its mobile and social offerings.

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Motoring

General Motors to invest $1bn in India

General Motors Co (GM) will invest $1 billion in the next few years to turn operations in India into a new global auto manufacturing and export hub aimed at boosting sales in fast-growing emerging markets, top executives said on Wednesday.

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Health & Environment

Ebola vaccine proves fully effective in Guinea trial

The world is for the first time on the verge of being able to protect humans against Ebola, the World Health Organization (WHO) said on Friday, as data from a trial in Guinea showed a vaccine was 100 per cent effective.

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Education, HR & Training

US maritime graduates to fly pioneering Falcon

America’s first Bachelor of Science in Maritime Technology, offered by Northwestern Michigan College, is to get a special Falcon remotely operated vehicle (ROV).

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Miscellaneous

Nato to strengthen Iraq's army

Nato will help Iraq reform and strengthen its security forces which are reeling from a near collapse a year ago in the face of an offensive by Islamic State fighters, Nato said on Friday.

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