Sunday 1 May 2016

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200m BARREL OUTPUT
Oman plans to build $400m oil storage terminal

Oman plans to build a major oil storage terminal on its southeastern coast, spending between $300 million and $400 million in the first phase, according to Minister of Oil and Gas Mohammad bin Hamad Al Rumhy.

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1

STEEL STRUCTURE SUPPLY DEAL
Dubai Investments unit seals Riyadh Metro contract

Dubai Investments (DI) said one of its subsidiaries, Emirates Building Systems, has been awarded a contract to provide steel structures for the second phase of the Riyadh Metro Project in Saudi Arabia.

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2

LONG-TERM SERVICE CONTRACT
Siemens wins big Qatar power plant deal

Siemens, a global technology powerhouse, said it has been awarded a long-term service contract for a major power plant located 15km south of Doha. This is its second major power generation services order from Qatar in the past six months.

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3

ANALYSIS
Rising oil prices throw lifeline to shale producers

Brent prices for 2017 ended trading above $50 per barrel on Wednesday for the first time since mid-December following the largest and most sustained rally in prices since the oil slump started.

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4

MONEY MATTERS
Mideast funds reduce cash as markets find floors

Middle East fund managers are reducing their cash holdings and building back long positions in equities and fixed income because of signs that markets have bottomed out, a monthly Reuters poll shows.

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5

IMAGE OF THE DAY
Grand treat for Royal b'day boy

Swedish Queen Silvia and King Carl XVI Gustaf leave the Royal Palace for the lunch hosted by the city of Stockholm at the City Hall in Stockholm, Sweden, on April 30, on occasion of King Carl XVI Gustaf of Sweden's 70th birthday.-epa

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate
Retail & Wholesale

Acer debuts liquid-cooled 2-in-1 notebook

Acer has announced the launch of its new Switch Alpha 12, the first fanless 2-in-1 notebook to use a 6th Generation Intel Core i7, Core i5 or Core i3 processor powered by Windows 10.

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Energy, Oil & Gas

Siemens wins big Qatar power plant deal

Siemens, a global technology powerhouse, said it has been awarded a long-term service contract for a major power plant located 15km south of Doha. This is its second major power generation services order from Qatar in the past six months.

More…
Finance & Capital Market

Saudi Arabia 'to become most active IPO market'

Saudi Arabia will become the region’s most active market for IPOs (initial public offerings) and private equity investment if government's plans to boost the economy are successful, said industry experts ahead of a major financial summit.

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Analysis, Interviews, Opinions

Mideast funds reduce cash as markets find floors

Middle East fund managers are reducing their cash holdings and building back long positions in equities and fixed income because of signs that markets have bottomed out, a monthly Reuters poll shows.

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Industry, Logistics & Shipping

Dubai Investments unit seals Riyadh Metro contract

Dubai Investments (DI) said one of its subsidiaries, Emirates Building Systems, has been awarded a contract to provide steel structures for the second phase of the Riyadh Metro Project in Saudi Arabia.

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Travel, Tourism & Hospitality

Alitalia cuts losses by $434m in 2015

Alitalia, Italy's national carrier in which Etihad Airways holds a key stake, confirmed it was on track to become profitable by 2017, as it reduced its losses by €381 million ($434 million) in 2015 compared to the previous year.

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IT & Telecommunications
Lifestyle

Gold shoes steal limelight at Leatherworld

Unique handmade leather shoes made of 24 karat gold was the highlight of the opening day of Leatherworld Middle East, the Middle East’s only dedicated leather industry trade show, running from April 26 to 28 in Dubai, UAE.

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Motoring

VW committee balks at Qatar's push for seat

Frustrated with the pace of reform at Volkswagen, shareholder Qatar has asked the carmaker for a seat on the company's executive committee, a request that has met with substantial opposition, two sources said.

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Health & Environment

Astronomers find a tail-less comet, first of its kind

Astronomers have found a first-of-its-kind tail-less comet whose composition may offer clues into long-standing questions about the solar system's formation and evolution, according to research published in the journal Science Advances.

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Media & Promotion

Chinese consortium offers $801m for AC Milan

A Chinese consortium has offered to buy AC Milan soccer club, one of former Italian premier Silvio Berlusconi's most cherished assets, for around €700 million ($801 million) including debt, sources said.

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Education, HR & Training
Miscellaneous

Protesters storm Baghdad's Green Zone, enter parliament

Hundreds of supporters of Shi'ite Muslim cleric Moqtada Al Sadr stormed Baghdad's Green Zone on Saturday and entered the parliament building after lawmakers failed to convene for a vote on overhauling the government, said witnesses.

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