Tuesday 7 July 2015

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MAYNE-NICHOLLS UNDER PROBE
Fifa bans Qatar-Russia bid inspector for 7 years

Harold Mayne-Nicholls, who led the teams which inspected bids to host the 2018 Russia and 2022 Qatar World Cups, has been banned from all football-related activities for seven years, Fifa's ethics committee said.

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1

NEW PRODUCTION LINE
Alba gets go-ahead for $3.5bn plant expansion

Bahrain's Mumtalakat Holding Company has given the approval to Aluminium Bahrain (Alba) for the construction of a sixth production line as part of its $3.5 billion expansion plan, said a report.

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2

IRAN EXPORT THREAT LOOMS
Oil prices stabilise after massive selloff

Crude oil prices steadied on Tuesday, after posting one of their biggest selloffs this year the previous session over Greece's rejection of debt bailout terms and China's stock market woes.

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3

SPECIAL REPORT
Mideast Internet usage to grow six-fold by 2019

Internet usage in the Middle East and Africa (MEA) will grow six-fold by 2019 at a compound annual growth rate of 44 per cent, driven by increasing mobile access and demand for video services, a report said.

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4

SPECIAL REPORT
10 climate actions urged to curb warming, lift GDP

More efficient energy use and investments in greener cities are among 10 measures that can help the world to slow global warming while also spurring economic growth, an international report said on Tuesday.

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5

NEWS IN PICTURES
View from the top

Greig Littlewood and Nigel How, both commercial rope access technicians at UK’s Avalon, abseiled down the 251-metre Conrad Hotel Dubai in a partnership operation to help prepare for London’s major expansion into the sky.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Saudi Real Estate, Alinma ink $480m land deal

Saudi Real Estate Company has signed an agreement with Alinma Investment, a unit of Alinma Bank, to jointly buy SR1.8 billion ($480 million) of land in Riyadh, it said in a statement on Monday.

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Retail & Wholesale

Carrefour opens outlet in Dubai residential property

Majid Al Futtaim, a leading shopping mall, retail and leisure pioneer in the region, has announced the opening of its new Carrefour Market store at Arabian Ranches, a mixed-use Emaar development in Dubai.

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Energy, Oil & Gas

Egypt debt to foreign oil companies hits $3.5bn

Egypt's debts to foreign oil companies stood at $3.5 billion dollars at the end of June, a 6.1 percent increase from March, an official at state-owned Egyptian General Petroleum Corporation (EGPC) said.

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Finance & Capital Market

Abu Dhabi Islamic eyes Asia, Mena acquisitions

Abu Dhabi Islamic Bank (ADIB), which recently failed in its bid for Citigroup's Egypt retail business, is targeting acquisitions in 2016 in Asia, the Middle East and North Africa (Mena) region, its chief executive said.

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Analysis, Interviews, Opinions

CFO role ‘critical to survival in oil sector’

With oil prices slowly recovering from the dramatic fall last summer, chief financial officers (CFOs) working in the sector can galvanise the finance function in the fight to future-proof their business, a report said.

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Industry, Logistics & Shipping

Qalaa in deal to sell key stake in Egypt glass company

Qalaa Holdings (formerly Citadel Capital), one of Egypt's largest investment companies, said it has entered into a deal with key investors of Misr Glass Manufacturing Company (MGM) to divest its shares in the company.

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Travel, Tourism & Hospitality

First Marriott opens in Makkah

Marriott International, a luxury global hotel chain, has launched its first flagship brand in Saudi Arabia’s holy city with the opening of the Makkah Marriott Hotel.

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IT & Telecommunications

DI unit launches audit management system

TechSource, a wholly-owned subsidiary of Dubai Investments (DI) offering IT domain services, has launched a system which offers integrated, scalable solutions to manage audit processes of any establishment of any size across any sector.

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Motoring

Ferrari listing to value group at $11.2bn

The listing of Ferrari may value the sports car unit at at least €10 billion ($11.26 billion), said Fiat Chrysler's (FCA) chief executive Sergio Marchionne.

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Health & Environment

New spondyloarthritis centre planned in UAE

GCC and German rheumatologists plan to establish a Spondyloarthritis Center of Excellence in partnership with Abbvie Biopharmaceuticals, a global, research-based biopharmaceutical company.

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Media & Promotion

Mall of Qatar to debut laser-lit cinema projectors

Mall of Qatar, the region’s largest leisure, entertainment and shopping complex, when it opens its doors in Doha, will première the Middle East’s first laser-illuminated projectors in its 19-screen CinemaCity complex.

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Education, HR & Training

Abu Dhabi Co-op to boost services to Khalifa Fund

Abu Dhabi Co-Operative Society has signed an agreement with Khalifa Fund, which has a focus on enterprise development, aiming to enhance services to entrepreneurs and to assist them to market their products in a better way.

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Miscellaneous

Fifa bans Qatar-Russia bid inspector for 7 years

Harold Mayne-Nicholls, who led the teams which inspected bids to host the 2018 Russia and 2022 Qatar World Cups, has been banned from all football-related activities for seven years, Fifa's ethics committee said.

More…

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