Tuesday 2 June 2015

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AZADEA DEAL WORTH $500m
KKR, Fajr close to buying stake in ME fashion retailer

KKR & Co and Dubai-based Fajr Capital are close to buying a 25 per cent stake in fashion retailer Azadea Group, said three sources aware of the matter, in what would be the US private equity firm's first Middle Eastern investment.

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1

DEBT MARKET BECKONS
Saudi bourse all set to welcome foreigner investors

As Saudi Arabian authorities prepare to open the stock market to direct foreign investment this month, they're laying plans for a fresh set of reforms: measures to expand and energise the corporate debt market.

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2

STOCKS ‘TO RISE IN H2’
Opec may raise oil output quota: Morgan Stanley

Morgan Stanley said in a note on Monday there is a possibility that Organization of Petroleum Exporting Countries (Opec) may raise its oil output quota.

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3

SPECIAL REPORT
With oil low, wealthy Abu Dhabi tightens belt a notch

Fabulously wealthy Abu Dhabi is tightening its belt as low oil prices slash its export revenues - a sign that even the richest economies of the Gulf are not escaping the impact of cheap oil, said experts.

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4

TECHNOLOGY
Features score over brands in smartphone buys

Phone buyers in the region are increasingly turning to the affordable end of the smartphone market with a focus on devices that feature technologies they actually want to use, rather than the latest branded handset, an industry expert said.

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5

NEWS IN PICTURES
Bad weather

A solar-powered plane attempting a round-the-world flight will cut short the seventh leg of its 35,000-km global (22,000-mile) journey, landing in Nagoya, western Japan, due to bad weather.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Dur to invest $399m in hospitality, residential projects

Saudi Arabia’s Dur Hospitality has announced plans to build a portfolio of 20 hotels and six residential complexes in the kingdom over the next seven years at an investment outlay of SR1.5 billion ($399.8 million).

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Retail & Wholesale

KKR, Fajr close to buying stake in ME fashion retailer

KKR & Co and Dubai-based Fajr Capital are close to buying a 25 per cent stake in fashion retailer Azadea Group, said three sources aware of the matter, in what would be the US private equity firm's first Middle Eastern investment.

More…
Energy, Oil & Gas

Siemens completes fast-track turbine supply

Siemens has achieved a major milestone by completing the fast-track supply and installation of four E-Class turbines at an Egyptian power plant in five months. This is one of the fastest implementation times for this type of project.

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Finance & Capital Market

Saudi bourse all set to welcome foreigner investors

As Saudi Arabian authorities prepare to open the stock market to direct foreign investment this month, they're laying plans for a fresh set of reforms: measures to expand and energise the corporate debt market.

More…
Analysis, Interviews, Opinions

With oil low, wealthy Abu Dhabi tightens belt a notch

Fabulously wealthy Abu Dhabi is tightening its belt as low oil prices slash its export revenues - a sign that even the richest economies of the Gulf are not escaping the impact of cheap oil, said experts.

More…
Industry, Logistics & Shipping

CBG plans $1bn expansion to meet demand

Guinea bauxite miner Compagnie des Bauxites de Guinée (CBG) plans a $1 billion expansion to increase its production capacity to 23.5 million tonnes per year by 2018 to respond to increased demand, said the firm's director general.

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Travel, Tourism & Hospitality

KHI sells 50pc stake in Four Seasons Mauritius

Kingdom Hotel Investments (KHI), a unit of diversified Saudi Arabian conglomerate Kingdom Holding Company (KHC), has sold a 50 per cent stake in the Four Seasons Resort Mauritius at Anahita to hospitality group Sun Resorts.

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IT & Telecommunications

Etisalat, Microsoft launch new Lumia smartphone

Etisalat has partnered with Microsoft Devices to exclusively launch the latest Microsoft Lumia 640 LTE for its mobile customers in the UAE at Dh649 ($176) with an exclusive data offer.

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Lifestyle

4Space wins top luxury lifestyle award

4Space Interior Design, a Dubai-based architecture and interior design company, has won the 2015 Luxury Lifestyle Award for Interior Design Studio Category “Luxury interior design Company of UAE” at a recent event in Dubai, UAE.

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Motoring

EK Kanoo hosts vehicle repair workshop

Ebrahim K Kanoo, the sole distributor of Toyota and Lexus in Bahrain, recently hosted a four-day workshop titled ‘Vehicle Damage Assessment’ which was conducted by an international instructor from the UK.

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Health & Environment

New dental laser cuts need for anaesthesia

A Dubai-based dentist is using a new laser system that uses a unique, powerful interaction of air, water and laser energy to reduce the need for anaesthesia when performing routine dental procedures.

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Media & Promotion
Education, HR & Training

Fujitsu delivers super computer to Saudi varsity

Fujitsu has delivered a supercomputing system to King Abdulaziz University (KAU) in Jeddah, Saudi Arabia for the latter’s new Center of Excellence for researchers and scientists affiliated with KAU.

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