August, 2016

• 24 August

  Spotlight on industrial cyber security in Mideast

  

    ABU DHABI / Emirates Business Booz Allen Hamilton, the global consulting and technology firm, has highlighted the most significant threats to Industrial Control Systems (ICS) in 2016 and 2017, and the most effective measures to counter them, in a recent report titled Industrial Cybersecurity Threat Briefing. These systems control and automate significant portions of our connected lives today, and ...

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• 24 August

  Sharjah FDI forum to be held in Sept

  

    Sharjah / Emirates Business The second annual Sharjah FDI Forum will take place on September 28 and 29 at Sheraton Sharjah Hotel, under the slogan “Sharjah FDI: The Gateway to the Middle East, North Africa and South Asia”, hosting more than 300 elite decision makers, business leaders and economic experts, who will gather to exchange their knowledge and expertise ...

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• 24 August

  DED, Health magazine to promote healthcare awards

  Dubai / Emirates Business The Department of Economic Development (DED) in Dubai has signed a memorandum of understanding (MoU) with the UAE-based Health magazine to support and promote the ‘Annual Health Awards,’ the first edition of which will be held in Dubai in January 2017. DED is extending its support to the awards as part of its strategic goal of ...

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• 24 August

  Bloom Properties to hand over Bloom Gardens in Dec

  

    Emirates Business Bloom Properties, a Bloom Holding subsidiary specialized in the development of integrated and sustainable communities, is set to deliver Phase 3 of its Bloom Gardens master development prior to the scheduled hand-over in Q1, 2017. Consequently, home owners and investors will begin to move into the 147 housing units as early as December, 2016. Bloom Gardens Phase ...

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• 24 August

  Iraq has not reached its full oil market share: PM

  

    Reuters Iraq’s prime minister said the country has not yet reached its full oil market share, suggesting his government would not restrain crude output as part of any possible OPEC agreement to lift prices. “And the capping, we are not open to that because Iraq is still below what it should produce,” Haider al-Abadi told reporters, responding to a ...

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• 24 August

  Iran signals nod for OPEC action to boost oil price

  

    Reuters Iran is sending positive signals that it may support joint action to prop up the oil market, sources in OPEC and the oil industry said, potentially aiding efforts to revive a global deal on freezing production levels at talks next month. OPEC’s third-largest producer has been boosting output after the lifting of Western sanctions in January. Tehran refused ...

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• 24 August

  Turkey looks to Gulf nations to boost tourism

  

  Emirates Business In the lead up to the public holidays marking Eid Al Adha in September, the Turkish Ministry of Culture and Tourism is looking to visitors from Gulf countries to offset the recent slump in the nation’s tourist numbers. Tourism is a critical source of Turkey’s GDP – the sector generated USD 35.1 billion in revenues in 2015 – ...

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• 24 August

  Qatar wealth fund buys stake in Empire State Building owner

    Bloomberg Qatar Investment Authority, the sovereign wealth fund of the Middle Eastern country, bought a 9.9 percent interest in Empire State Realty Trust, owner of New York’s Empire State Building. The fund purchased 29.6 million newly issued Class A common shares at $21 each, and will have a 9.9 percent economic and voting interest in the real estate investment ...

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• 24 August

  Bahrain, KFAED ink $1bn financing agreements

    WAM Two financing agreements, with a value of more than US$ 1 billion, were signed on Tuesday between the Government of the Kingdom of Bahrain and the Kuwait Fund for Arab Economic Development (KFAED). Sheikh Ahmed bin Mohammed Al Khalifa, the Bahraini Minister of Finance, and Hamad Suleiman Al Omar, Deputy Director-General of the Fund, signed the agreements, which ...

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• 24 August

  Egypt plans to end fuel subsidies

  

    Reuters Egypt plans to end fuel subsidies within three years and is aiming to increase fuel prices to 65 percentof their actual cost during the 2016/17 fiscal year, two government sources said. Struggling to revive its economy after an uprising in 2011 shook investor confidence and drove tourists and foreign investors away, Egypt has been trying to cut spending ...

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