Tuesday 31 March 2015

Oil prices to stabilise in H2 as demand rises

Oil prices should stabilise in the second half of this year and rise in 2016 and 2017 as consumers respond to a period of much cheaper fuel, a Reuters poll of analysts showed on Monday. The survey of 34 analysts predicted North Sea Brent crude would average $59.20 a barrel in 201


Smart city industry projected at $400bn by 2020

The smart cities industry, which offers solutions to cope with water and energy shortages, higher air pollution and other challenges due to rapid urbanisation, is projected to be worth more than $400 billion by 2020, according to experts. “As the population gravitates towar


UAE Islamic banking assets to hit $263bn by 2019

The UAE is en route to achieve $263 billion of Sharia-compliant assets by 2019, according to audit company EY’s World Islamic Banking Competitiveness (WIBC) report. The industry was estimated to be worth $127 billion in 2014, thus making it the third largest Islamic banking


GCC on track to double smart city developments

The GCC is making major strides in its development of smart cities with the number of new smart city greenfield developments in the region set to double within the next two to three years, a report said. This follows the launch of six entirely new, master-planned smart city devel


RWE's Gulf dream may offers cash, new markets

Working with a deep-pocketed Gulf backer could be just what RWE boss Peter Terium needs to restore shareholder confidence and escape budget constraints that have plagued Germany's top power producer. The utility last week disclosed it was in talks with an unnamed Gulf investo


With Yemen strikes, Saudis show growing independence from US

Saudi Arabia kept some key details of its military action in Yemen from Washington until the last moment, US officials said, as the kingdom takes a more assertive regional role to compensate for perceived US disengagement. The Middle East's top oil power told the United State


Testing of software adds to urgency in race for driverless cars

In the race to build a self-driving car, German automakers are hitting a road block in their efforts to test vehicles so complex they need more than 10 times the amount of software found in a fighter jet. German laws currently place limits on testing on public roads.


Gulf economies can cope with escalating Yemen conflict

Economies and markets in the wealthy Gulf oil exporters barely blinked when Islamist militants overran parts of neighbouring Iraq last year, and they look likely to ride out escalating conflict in Yemen with similar ease. Air strikes against Houthi forces in Yemen by Saudi Arabia


Fifa 'taking the wrong approach to development'

Fifa presidential candidate Prince Ali Bin Al Hussein of Jordan believes that world soccer's governing body is taking the wrong approach to development of the sport, leaving many national associations without basics such as kit and pitches. He said Fifa was "irresponsibl


GCC water issues: Cooperation is key

Unless GCC countries take all necessary measures to guarantee the availability of water resources the region is very likely to face many potential problems impacting the security, economic, and social fronts, warned an industry expert. The GCC countries face the same environmenta

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