Wednesday 25 May 2016

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300,000 bpd CAPACITY
BP, Shell among bidders to run Qatar oil field

Six international oil firms including BP and Royal Dutch Shell have bid to operate Qatar's largest offshore oil field, two people with knowledge of the matter told Reuters.

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1

27pc RISE IN E-COMMERCE
UAE domestic card spends jump 12pc in Q1

Domestic card spends in the UAE increased 12 per cent in the first quarter of 2016 compared to the same period last year, according to a report on consumer card spends by Network International.

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2

HIGHEST IN 7 MONTHS
Oil nudges $50 as investors bet on shrinking overhang

Oil rose towards $50 a barrel on Wednesday for the first time in seven months, driven by expectations that shrinking supply will help erode any overhang of unwanted crude, after industry data showed a sharp fall in US inventories.

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3

ANALYSIS
India counts cost of reduced Gulf remittances

Remittances from Indians working abroad slumped 27 percent in the fiscal year through March to $48 billion - the lowest since the 2008 global financial crisis. Most of India's remittances come from the Gulf.

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4

Slow response to past crashes could hinder EgyptAir search

Teams searching for the black box flight recorders of a missing EgyptAir jet that crashed with 66 people aboard face technical constraints that aviation experts increasingly blame on a slow regulatory response to earlier disasters.

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5

NEWS IN PICTURES
Louvre on Louvre

A view of the Pyramid of the Louvre museum covered with a gigantic black and white trompe l'oeil photo of the Louvre building by French artist JR in Paris, France. The exhibition 'Contemporary art – JR at the Louvre' runs till June 27.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Saudi Arabia delays Makkah metro project

The light rail system planned for the Saudi city of Makkah has been delayed so that the project's financing can be restructured, the head of the implementing body said on Wednesday.

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Retail & Wholesale

ME cities among top 15 global retail hotspots

One-third of the top 15 global retail cities are located in the Middle East region, with Dubai leading the region list followed by Kuwait City, Abu Dhabi, Jeddah and Riyadh, said a report.

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Finance & Capital Market

UAE e-Dirham revenue tops Dh2bn in Q1

The UAE's Ministry of Finance (MoF) has announced that the federal government revenue collected through e-Dirham reached more than Dh2 billion in Q1 2016, up 4.2 per cent from Dh1.92 billion in Q1 2015.

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Analysis, Interviews, Opinions

India counts cost of reduced Gulf remittances

Remittances from Indians working abroad slumped 27 percent in the fiscal year through March to $48 billion - the lowest since the 2008 global financial crisis. Most of India's remittances come from the Gulf.

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Industry, Logistics & Shipping

Steel industry calls on G7 to protect it from China

Twelve global steel associations urged the Group of Seven advanced economies, which meet in Japan this week, to prevent cheap Chinese steel distorting world markets and inflicting further pain on producers.

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Travel, Tourism & Hospitality

Muscat airport terminal to be ready by year-end

Construction work on the terminal for new Muscat International Airport is going as per schedule and will be completed by year-end, said a report citing a senior minister.

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IT & Telecommunications

Intel, Huawei join hands for Smart Bus Solution

Huawei and Intel Corporation have signed a memorandum of understanding (MoU) to introduce solutions that enable smarter buses and promote the uptake of smart transport.

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Health & Environment
Media & Promotion
Education, HR & Training

Employee wellness programme helps drive growth: experts

Investing in employee wellness programmes is key to driving profitability and growth amid challenging business times, say some of the region’s top business leaders.

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Miscellaneous

Iconic planes on display at Bahrain exhibition

A new exhibition celebrating the strong civil and military aviation heritage between Bahrain and the United Kingdom will open at the Bahrain National Museum tomorrow (May 23) with iconic planes on display.

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