Tuesday 21 April 2015

0

3.5m bpd CRUDE TARGET
Abu Dhabi to invest $25bn in offshore oilfields

Abu Dhabi plans to invest over $25 billion in the next five years on boosting its oil production capacity from offshore fields, a senior official of Abu Dhabi National Oil Co (Adnoc) said on Tuesday.

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1

CIVILIAN DEATH TOLL MOUNTS
Iran sees Yemen ceasefire in coming hours

Iran's deputy foreign minister said he was optimistic that a ceasefire in the Yemen conflict would be announced later on Tuesday, the Iranian Tasnim news agency reported.

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2

JIHADIST MILITANTS' THREAT
Saudi Arabia on alert over 'oil, mall attack'

Saudi Arabia has put security forces on alert for a possible militant attack on a shopping mall or energy installation, revealed an Interior Ministry spokesman.

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3

ANALYSIS
New concept of healthy eating sparks mergers spree

A boom in "nutraceuticals" - food and drinks with potential health benefits - is paving the way for a rush of deals, as food and drug companies compete to dominate a market expected to be worth $280 billion by 2018.

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4

ANALYSIS
Arab youth unsure if democracy could work in region

Confidence among Arab youth that the Arab Spring would bring positive change across the region is declining and as a result they are uncertain whether democracy could ever work in the Middle East, a report said.

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5

IMAGE OF THE DAY
Bahrain celebrates Hamilton win

His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier, presenting the trophy to world champion Lewis Hamilton after he won the Gulf Air Bahrain Formula One Grand Prix.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Aldar unveils three big residential projects in Abu Dhabi

UAE-based Aldar Properties has launched three major residential developments offering 2,000 new homes in prime areas of the capital Abu Dhabi, including in investment zones where property can be purchased by non-UAE nationals.

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Retail & Wholesale

Magic Planet opens second outlet in Bahrain

Majid Al Futtaim, a leading shopping mall, retail and leisure pioneer across the Middle East and North Africa (Mena), has reached an agreement to open its second Magic Planet outlet in Bahrain at Enma Mall.

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Finance & Capital Market

Kingdom Holding Q1 profit rises 10.3pc

Saudi Arabia's Kingdom Holding , the investment firm owned by billionaire Prince Alwaleed bin Talal, posted a 10.3 per cent rise in first-quarter net profit on Tuesday, on the back of higher income from dividends and associates.

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Analysis, Interviews, Opinions

Some banks win, some lose in Dubai's ‘Islamic economy’

Dubai's drive to develop its Islamic finance sector is fuelling growth of sharia-compliant banking but the benefits are unevenly distributed, with some lenders struggling to compete against burgeoning competition.

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Industry, Logistics & Shipping

Aramex Q1 net profit up 10pc to $23.5m

Aramex, a leading global logistics solutions provider, has posted a net profit of Dh86.6 million ($23.5 million) during the first quarter (Q1) of the year, up from Dh78.7 million ($21.4 million) in Q1 2014, marking an increase of 10 per cent.

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Travel, Tourism & Hospitality

Qatar Airways to boost ME, Europe service

Qatar Airways, national airline of Qatar, plans to increase the frequency of weekly flights to 10 of its most popular destinations throughout the Middle East and Europe.

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IT & Telecommunications

Saudi Mobily swings to Q1 net loss

Saudi Arabia's Etihad Etisalat (Mobily), which is under investigation by the bourse regulator for insider trading and share price manipulation, missed forecasts as it swung to a SR199 million ($53 million) net loss in the first quarter.

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Lifestyle

BMW Middle East Q1 sales up 11pc

BMW Group Middle East said its sales rose 11 per cent in the first quarter of 2015 compared to the same period last year, with a total of 8,302 BMW and MINI vehicles delivered to customers in 12 Middle East markets.

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Motoring

MiX Telematics, UAE portal partner for road safety

MiX Telematics, a leading global provider of fleet management solutions, and RoadSafety.com, an educational online platform, have partnered to promote insights into road safety for commercial vehicle operators in the region.

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Health & Environment

Irish group launches novel recycling system in UAE

Ireland-based Orwell International in conjunction with TSSC Dubai has launched the PEL Waste Reduction Equipment in the UAE, marking a world first in glass bottle sustainable closed-loop recycling.

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Education, HR & Training

American University of Sharjah partners with Etisalat

The UAE’s leading telecom services provider Etisalat has signed a content distribution agreement with American University of Sharjah mainly to encourage and showcase young, university-level filmmakers and video journalists.

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Miscellaneous

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