Monday 20 February 2017

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CUSTOMER-ORIENTED PLAN
Dubai unveils key objectives under 2017-2021 strategy

Dubai Chamber of Commerce and Industry has unveiled the key objectives and initiatives outlined under its 2017-2021 strategy that aims to boost competitiveness and growth within the private sector in line with the Dubai Plan 2021.

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GROSS WRITTEN PREMIUM UP 19pc
QIC wins shareholders' nod for $760m capital boost

Qatar Insurance Company, a leading insurer in the Gulf region, said it has won approval from the group's shareholders to boost its capital to QR2.77 billion ($760 million) and for distribution of 15 per cent cash dividend payout for the year.

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2

ADCO DEAL
Adnoc awards CNPC 8pc stake in onshore concession

The Abu Dhabi National Oil Company (Adnoc) today signed an agreement with the China National Petroleum Corporation (CNPC), awarding it an 8 percent interest in Abu Dhabi’s onshore oil concession.

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SPECIAL REPORT
Currency fluctuation hits Dubai property market

There is a moderately strong inverse correlation between money flows in the Dubai real estate market and the US dollar mainly with regard to transactions involving Indians and Pakistanis, the emirate's top property investors, said a report.

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4

SPOTLIGHT
Global diamond market sees moderate growth

The global diamond industry performed moderately well in 2015, led by diamond jewellery retail sales, which grew 3 per cent at constant exchange rates, a report said.

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5

NEWS IN PICTURES
Tour of Oman

Participants cross the finish line of the Tour of Oman 2017 on the Corniche in Muttrah in the center of the capital Muscat on February 19.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Saint-Gobain builds first multi-comfort home in UAE

Saint Gobain, a world leader in the habitat and construction markets, said it has chosen Masdar City, one of the world’s most sustainable urban developments coming up in the UAE, to build its first 'Multi-Comfort House' in the region.

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Retail & Wholesale

LG showcases innovative product line-up

LG Electronics (LG), a global leader and technology innovator, has showcased its 2017 premium product line-up at the company’s annual two-day innovation event - InnoFest 2017, in Barcelona, Spain.

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Energy, Oil & Gas

Saudi Aramco to enter base oils business

Saudi Aramco has announced that it will enter the base oils business as part of its effort to optimize the value of its petroleum molecules and grow its refining and chemicals portfolio.

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Finance & Capital Market

DMCC in tie-up to roll out e-signature facility

Dubai Multi Commodities Centre (DMCC), the authority on trade, enterprise and commodities in Dubai, UAE has partnered with US-based DocuSign to provide electronic signature (e-signature) capabilities for its Free Zone members.

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Analysis, Interviews, Opinions

Currency fluctuation hits Dubai property market

There is a moderately strong inverse correlation between money flows in the Dubai real estate market and the US dollar mainly with regard to transactions involving Indians and Pakistanis, the emirate's top property investors, said a report.

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Industry, Logistics & Shipping

Gulfood's meat and poultry section draws 259 firms

The new Meat & Poultry sector, one of the eight dedicated segments in the Gulfood exhibition set to open in Dubai on February 26, has attracted 259 exhibitors from 35 countries.

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Travel, Tourism & Hospitality

Towers Rotana Dubai appoints new GM

Towers Rotana Dubai, an iconic 375 room hotel located on Dubai’s prominent Sheikh Zayed Road, has appointed Hossam Mansour as its new general manager.

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IT & Telecommunications

Zain Bahrain names early bill payment winners

Zain Bahrain, a leading telecommunications services operator in the country, has announced the winners of its January ‘Cash Back’ raffle draw which offers customers a chance to win big prizes on paying their invoices on time.

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Motoring

Massive progress in night driving visibility

New car headlight technology means modern drivers do live in an “age of enlightenment”, with a stark contrast between the night-time driving visibility now and the headlamps our grandparents used to light the road ahead, says Ford.

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Health & Environment

Dubai gears up for Arab paediatric summit

Leading healthcare experts from across the globe will be in Dubai, UAE, to discuss issues related to neonatology, child nutrition and rare diseases at the upcoming Arab Paediatric Medical Congress.

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Media & Promotion

Cayan to sue Russian model over Dubai tower stunt

UAE developer Cayan Group has strongly condemned Russian model Viki Odintcova and her assistants’ daredevil stunt of hanging off the edge of the Cayan Tower roof without any safety precautions and is set to take legal action against them.

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Education, HR & Training

Oman SMEs win Shell solar PV project deal

Shell Development Oman has awarded contracts to two Omani small and medium enterprises (SMEs) for installation of solar photovoltaic (PV) panels in schools as part of a pilot project in the sultanate.

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Miscellaneous

18 injured as train derails in heavy Saudi floods

A train derailed near the Saudi city of Dammam on Friday, injuring 18 people, after flooding from heavy rains caused the rail line to drift. It was carrying 193 passengers and six crew members, said a report citing top railways officials.

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