Saturday 30 July 2016

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STAY CAPPED AT 72 HOURS
US allows American-made planes to be flown to Iran

The United States said on Friday it would allow foreign airlines to fly US-made aircraft to Iran, providing greater assurance to aviation companies as Iran tries to re-establish trade and business links following the lifting of sanctions.

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1

IRAQ BOOSTS EXPORTS
Opec oil output set to reach record high in July

Opec's oil output is likely in July to reach its highest in recent history, a Reuters survey found on Friday, as Iraq pumps more and Nigeria manages to export additional crude despite militant attacks on oil installations.

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2

DOLLAR PEG BEST OPTION
Saudi economy set to recover in 2017: IMF

Saudi Arabia's real GDP growth is expected to slow to 1.2 percent in 2016, but recover to 2 percent in 2017 as the pace of fiscal consolidation eases and to settle around 2¼ -2½ percent over the medium-term, the IMF has said.

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3

ANALYSIS
Big tech companies defy the ‘law of large numbers’

Google parent Alphabet and e-commerce giant Amazon capped a blockbuster June quarter for the five biggest US tech companies as their dominance in key markets helped them defy the "law of large numbers".

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4

FOCUS
New crop of robots to vie for space in operating room

Even though many doctors see need for improvement, surgical robots are poised for big gains in operating rooms around the world. Within five years, one in three US surgeries is expected to be performed with robotic systems.

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5

NEWS IN PICTURES
Wind tunnel test for The Tower

Emaar Properties has successfully completed advanced wind tunnel tests to confirm the structural strength and durability of its iconic new The Tower at Dubai Creek Harbour development. This marks another milestone for the project.

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Top Trade News

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Industry Sectors

Construction & Real Estate

Emaar completes wind tunnel tests for The Tower project

Emaar Properties, a Dubai-based global developer, has successfully completed advanced wind tunnel tests to confirm the structural strength and durability of its iconic new tower in Dubai Creek Harbour.

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Retail & Wholesale

Mall of Qatar moves towards grand opening in October

Excitement is growing among stakeholders as Doha's Mall of Qatar (MOQ), which promises to change the entire shopping mall experience in the region, enters the last 100 days before launch.

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Energy, Oil & Gas

Sabic extends earnings slump as Q2 net profit falls 23.2pc

Saudi Basic Industries Corp (Sabic), one of the world's largest petrochemicals groups, reported a 23.2 per cent drop in second-quarter net profit on Wednesday, extending an earnings slump as lower sales prices continued to weigh.

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Finance & Capital Market

Saudi's Kingdom Holding Q2 net profit falls 22pc

Saudi Arabia's Kingdom Holding, the investment firm owned by billionaire Prince Alwaleed bin Talal, posted a 22 per cent fall in second-quarter net profit on Thursday as income from associates and dividends declined.

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Analysis, Interviews, Opinions

Non-Opec oil output decline rates speed up

Non-Opec oil field decline rates have accelerated to 5 per cent as a result of the impact on output from a 41 per cent or $285 billion reduction in global oil & gas capex from the 2014 peak, a Bank of America Merrill Lynch report said.

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Industry, Logistics & Shipping

Savola net profit drops 43.2pc

Saudi Arabian food maker Savola Group, the country's largest food products company, reported a 43.2 per cent fall in second-quarter net profit and cut its dividend on Thursday, citing higher operating expenses and financial charges.

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Travel, Tourism & Hospitality

Marriott to open new hotel in Abu Dhabi

A new five-star Marriott hotel will open in Abu Dhabi this year following an agreement signed between Saif Mohammed Al Hajeri, chairman, Al Forsan Holding, and Alex Kyriakidis, president and managing director of Marriott International.

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IT & Telecommunications
Lifestyle

Citizen to showcase Eco-Drive tech at Dubai airport

Celebrating 40 years of its Eco-Drive light-powered technology, watch company Citizen will be showcasing the technology and its flagship models at Eco-Drive Lounges across Dubai International Airport and other international airports.

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Motoring

JLR to launch research vehicles for autonomous tech test

Jaguar Land Rover (JLR) plans to create a fleet of more than 100 research vehicles to develop and test a wide range of connected and autonomous vehicle (CAV) technologies over the next four years.

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Health & Environment

New crop of robots to vie for space in operating room

Even though many doctors see need for improvement, surgical robots are poised for big gains in operating rooms around the world. Within five years, one in three US surgeries is expected to be performed with robotic systems.

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Media & Promotion

Twitter toils to boost users as income stalls

Twitter reported its slowest revenue growth since going public in 2013 and set a disappointing forecast, fanning concerns that faster growing social media services will make it a niche product.

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Education, HR & Training

IT, healthcare key areas for entrepreneurial growth

Technology innovation, healthcare, education and fintech are key opportunity areas for entrepreneurs in the Middle East “to leapfrog into the 21st century,”, said experts during a live Twitter chat hosted by YPO.

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