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Energy sector mergers and acquisitions in focus
(The National - 31/01/2015)

It is a question that faces the oil industry whenever there is a big shift in oil prices: what will be the effect on deals — on mergers and acquisitions, and on the buying and selling of assets? Will there be a period of consolidation, when stronger

Oil prices find traction, but huge glut remains
(The National - 31/01/2015)

The oil market took some solace from signs that the glut that has weighed on it for the past few months may get some relief down the road, but there were other indicators that it will take considerable time to soak up the massive overhang. On Friday, the

Investor acquires 50% in Fujairah’s Oryx in Dh500m deal
(Gulf News - 31/01/2015)

The UAE’s merger and acquisition scene has got off to a solid start to the year with First Equity Partners (FEP) acquiring a 50 per cent stake — valued at Dh500 million — in Fujairah-based construction materials firm Oryx Industries. Raising the stake

Dubai World Central unveils plans for Dh120m aerospace supply chain
(Gulf News - 31/01/2015)

Dubai World Central’s (DWC) Aviation District has announced the development of new aerospace supply chain facilities. Located at the DWC Aviation District, the development will include three facilities spread across an area of 45,000 square meters.

Dubai Exports and Egyptian business heads discuss strategies
(WAM - 31/01/2015)

Dubai Exports, the export promotion agency of the Department of Economic Development (DED) in Dubai recently hosted a workshop in Alexandria to explore cooperation with the Egyptian chambers of commerce in the field of exports and re-exports as well as

Lavish freebies from Saudi king to buoy economy, markets
(Reuters - 31/01/2015)

A lavish payout to public employees ordered by Saudi Arabia’s new King Salman will help to sustain the kingdom’s consumer boom and reassure financial markets that the government is not slashing expenditure in the face of low oil prices. On Thursday,

Crisis veteran Naimi stays to hold line on Saudi oil policy
(Reuters - 31/01/2015)

The new Saudi king's decision to keep Ali al-Naimi in his job as oil minister signalled to energy markets that the world's top crude exporter would not flinch from its policy of refusing to cut output as it fiercely guards market share. Naimi convinced

Opec output rises in January as members stand firm
(Reuters - 31/01/2015)

Opec's oil supply has risen this month due to more Angolan exports and steady to higher output in Saudi Arabia and other Gulf producers, a Reuters survey showed, a sign key members are standing firm in refusing to prop up prices. The Organization of the

Dubai to face housing shortage ahead of Expo 2020
(Trade Arabia - 31/01/2015)

Following a period of stabilisation, the Dubai housing market could experience a supply shortfall in 2020 as the World Expo, a six-month long extravaganza, approaches, said an expert. Dubai may need more low-end and ultra-luxury properties to cope with

Kuwait: Credit at 5.9% in November with 2014 expected at 7% y/y
(NBK - 29/01/2015)

Credit growth was up in November, but failed to make up for recent weakness. Growth ticked up to 5.9% y/y on a KD 222 million gain in lending during the month, but remained weaker than expectations. We expect growth to have finished the year closer to 7%

Funds turning positive on Saudi as oil stabilises
(Reuters - 29/01/2015)

Middle East funds are turning positive on Saudi Arabia's stock market because of signs that oil prices are starting to stabilise, the latest Reuters survey of asset managers shows. Many fund managers became bearish on Saudi Arabia in the past few months

New plan aims to boost investment in Saudi
(Trade Arabia - 29/01/2015)

A new plan aims to transform Saudi Arabia’s investment landscape by further diversifying the economy, building its knowledge base, creating job opportunities and maintaining the ease of doing business in the kingdom. The Unified Investment Plan was

Gulf investors seek bonds stability as shares sink
(CPI Financial - 29/01/2015)

Investors are returning to Arab bond markets as stocks in the region tumble amid the plunge in oil. The average yield on bonds sold by Middle East borrowers fell 28 basis points this year to 4.07 per cent, compared with a four basis-point increase in

Saudi average oil output forecast at 9.6 mbpd in 2015
(Saudi Gazette - 29/01/2015)

In a very competitive global oil market, with ample supply from non-OPEC sources, Saudi Arabia’s full year average crude production in 2015 is projected to reach 9.6 mbpd, declining slightly to 9.4 mbpd in 2016, Jadwa Investment, a leading Saudi Arabian

Profits of Saudi cement firms rise 6% to SR5.9bn
(Arab News - 29/01/2015)

Net profits of the listed cement firms grew by 6 percent to reach SR5.9 billion in 2014 compared to SR5.6 billion in 2013, according to a financial report. Meanwhile, profits of the fourth quarter (2014) grew by 31 percent to SR 1.44 billion compared to

IDF Oman to feature 55 global firms
(Oman Daily Observer - 29/01/2015)

The second Interior Design, Décor & Furniture Exhibition Oman, organised by Al Nimr Expo, in association with the Ministry of Housing, will be held from February 17–19 at the Oman International Exhibition Centre in Seeb. The exhibition, to be created by

GE to provide new systems to Yanbu plant
(The Peninsula - 29/01/2015)

GE’s power conversion business will provide the electrical variable speed drive (eVSD) system technology including motors and MV7000 drives to help power the new Yanbu 3 power and desalination plant in Saudi Arabia. The systems from GE will increase the

Sadara, Chemie-Cluster Bayern seal joint cooperation agreement
(Saudi Gazette - 29/01/2015)

Sadara Chemical Company (Sadara) and Chemie-Cluster Bayern GmbH (CCB) have signed recently an agreement to cooperate and jointly support the development of Chemical based value chains in PlasChem Park in Jubail. The agreement will primarily focus on the

Tethys profit surprises
(Oman Daily Observer - 29/01/2015)

Despite the steep slide in global oil prices, Swedish exploration and production firm Tethys Oil says it has notched up record revenues in Omani oil exports in 2014 based on sales averaging an impressive $103.9 per barrel. The revelation provides a

Qatar trade balance hits QR22.7bn, PPI declines
(The Peninsula - 29/01/2015)

Qatar’s trade balance of goods, which represents the difference between total exports and imports, showed a surplus of QR22.7bn in December 2014, a decrease of QR11.1bn, or 32.8 percent, from a year ago. The Ministry of Development Planning and

Middle East print market set to reach $20 billion by 2016
(Saudi Gazette - 29/01/2015)

Over 10,000 printing industry professionals are expected to descend on Dubai in April when Gulf Print & Pack 2015 opens for business at the Dubai World Trade Centre (DWTC). As the world’s fourth fastest growing printing market, visitors to the show are

Key Tenmou-backed app raises $300,000 funding
(Gulf Daily News - 29/01/2015)

Tenmou, Bahrain's first 'Business Angels' company, yesterday announced that 'eat' '“ an app that allows users to create restaurant reservations online, has raised $300,000 in the second round of funding. With this additional capital, 'eat' has raised a

Enoc and Emgas co-host first Middle East LP Gas Summit
(The Gulf Today - 29/01/2015)

Emirates National Oil Company (Enoc) and its subsidiary Emirates Gas (Emgas) co-hosted the first Middle East LP Gas Summit to promote the safe use of Liquefied Petroleum Gas (LPG) in the Middle East. Focused on safety and awareness, the summit brought

Dubai SCE signs MoU with UNIDO
(The Gulf Today - 29/01/2015)

The Dubai Supreme Council of Energy has signed a three-year renewable Memorandum of Understanding (MoU) with the United Nations Industrial Development Organisation (UNIDO) to promote collaboration in renewable energy, energy efficiency, and to develop

Emirates announces 2 new A380 services to Europe
(WAM - 29/01/2015)

Emirates announced on Wednesday the launch of A380 services to two European destinations: Dusseldorf and Madrid, becoming the first airline to operate a scheduled A380 service, offering an unmatched travel experience to business and leisure travellers

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