Sunday 24 May 2015

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MOSQUE SUICIDE BOMBING
Saudi King vows to punish people behind attack

Saudi Arabia's King Salman said on Sunday he was "heartbroken" over a suicide bombing at a Shi'ite mosque in the kingdom that killed 21 people, state news agency SPA reported.

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1

50 NEW FIRMS PLAN OPS
KAEC expects tenant inflow to accelerate this year

King Abdullah Economic City (KAEC), a special economic zone on Saudi Arabia's Red Sea coast, expects its inflow of new corporate tenants to speed up this year as the economy proves resilient to low oil prices, KAEC's managing director said.

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2

MOVE FOR CONSISTENCY
UAE banks mull centralised Islamic finance board

The United Arab Emirates' bank industry association has discussed a proposal to create a centralised sharia board that would monitor Islamic banking, which could spur the growth of the industry.

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3

ANALYSIS
US drivers yield 'swing' oil demand crown to Saudis

As the United States raced over the past five years toward becoming a global petroleum powerhouse, the world's biggest oil exporter Saudi Arabia quietly seized a market milestone from America: the largest source of peak summer demand.

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4

INSIGHT
Small food makers on fast path to US store shelves

Small US food manufacturers once toiled for decades to develop a critical mass of fans. Now, an increasing number of entrepreneurs are going from garage to grocery store in fewer than five years thanks to an erosion of barriers to entry.

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5

NEWS IN PICTURES
Honor is here...

The first Honor 6 Plus buyers in Dubai, UAE, received their phones from Chris Sun Baigoing, vice president of online sales, Huawei Consumer Group (above, left), as the phone became available in the region yesterday.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Oman Rail floats key construction tenders

Oman Rail has floated tenders for the construction of an additional 1,207 km of railway infrastructure linking the country’s three maritime gateways at Sohar, Duqm and Salalah with the GCC rail system, said a report.

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Retail & Wholesale

Arcapita sells big US apparel group J.Jill

Bahrain investment firm Arcapita said sold J.Jill Group, a leading US-based multi-channel retailer of women’s apparel, accessories and footwear, to TowerBrook Capital Partners, a leading global investment management firm.

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Energy, Oil & Gas

1,500 professionals discuss energy innovations

More than 1,500 research and industry professionals are taking part in the Abu Dhabi International Research and Development Conference and Exhibition (Adrac), which opened in the UAE capital today (May 24).

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Finance & Capital Market

UAE banks mull centralised Islamic finance board

The United Arab Emirates' bank industry association has discussed a proposal to create a centralised sharia board that would monitor Islamic banking, which could spur the growth of the industry.

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Analysis, Interviews, Opinions

Saudi Arabia rewrites oil game with refining might

Saudi Arabia's rapid transition into one of the world's largest oil refiners has added an extra dimension to the oil exporter's role as the driver of Opec (Organization of the Petroleum Exporting Countries) policy, say experts.

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Industry, Logistics & Shipping

Global Aerospace Summit to discuss future of UAS

International aerospace experts will convene in Abu Dhabi, UAE, at the third Global Aerospace Summit next year to discuss the rapidly changing role of Unmanned Aircraft Systems (UAS), popularly known as drones.

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Travel, Tourism & Hospitality

Time Hotels brings the taste of Boston to Fujairah

UAE-based Time Hotels Management plans to launch its first non-hotel product, O’Learys, a sports-themed restaurant located in Fujairah Mall in the UAE emirate.

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IT & Telecommunications

Zain Jordan eyes 5pc jump in 2015 revenue

Zain Jordan, the kingdom's biggest mobile telecoms network operator, expects revenue to rise by five per cent this year despite tougher competition and heavy government taxes, the firm's chief executive said.

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Lifestyle

Kens, Studio E offer hand-painted wallpaper

Kens & Company, a provider of quality finishes and Studio E Hand Painted Wallpaper have partnered bring to the Gulf their collection of authentic Italian polished plaster and artisan metal-leaf as wallpaper.

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Motoring

Rosberg takes Monaco hat-trick after Mercedes gaffe

Germany's Nico Rosberg celebrated a surprise hat-trick of Monaco Grand Prix victories on Sunday after Mercedes blew championship-leading team mate Lewis Hamilton's chances with a needless pitstop.

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Media & Promotion

Mathematician John Nash killed in car crash

Mathematician John Nash, a Nobel Prize winner whose longtime struggle with mental illness inspired the movie "A Beautiful Mind", was killed in a car crash along with his wife in New Jersey, state police said on Sunday.

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Miscellaneous

GCC food demand to top 49m tonnes by 2017

The population growth, the increase in the number of tourists and the increase in per capita income in the GCC will see food consumption reach 49.1 million metric tons by 2017, according to experts.

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