Wednesday 27 August 2014

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EU BOND YIELDS HIT NEW LOW
Asia stocks highest since 2008 as euro plunges

The euro came close to cracking on Wednesday as feverish speculation of further policy stimulus in the euro zone drove bond yields to all-time lows and lifted Asian stocks to peaks not seen in almost seven years.

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1

‘NO CLEAR VICTOR’
Gaza ceasefire takes hold as focus turns to longer term

A ceasefire between Israel and the Palestinians aimed at ending their seven-week conflict in Gaza appeared to be holding early on Wednesday as the focus shifted to securing an arrangement for the long term.

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2

ANTI-MONEY LAUNDERING DEAL
StanChart looking to sell part of UAE business

Standard Chartered is aiming to sell part of its business in the UAE after it agreed to close some accounts there in an anti-money laundering settlement with US authorities, two sources familiar with the plan said.

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3

ANALYSIS
Libyan raids could herald bolder Arab action

Air strikes against Libyan Islamist militants that US officials had said were staged by Egypt and the United Arab Emirates could mark an escalation of a regional struggle over the future of the Arab world.

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4

ANALYSIS
Clear vision, values key to ‘culture of quality’

Clearly stated quality vision and values, and unequivocal leadership are key components to a successful culture of quality that can help organisations drive results, according to new research.

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5

IMAGE OF THE DAY
Homeward bound

Members of a Palestinian family ride a motorcycle as they return to their house in the east of Khan Younis following a ceasefire in the southern Gaza Strip August 26.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

MAF unveils $272m mall revamp plan

UAE-based Majid Al Futtaim (MAF) has announced the second phase of Mall of the Emirates’ strategic redevelopment scheme that aims to add 25,000 sq m in gross leasable area at an estimated cost of Dh1 billion ($272 million).

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Retail & Wholesale

Dubai retail sector to hit $41 billion by year-end

Dubai’s impressive average spending power of Dh53,000 ($14,400) per household per year will boost the retail sector to reach record figures of Dh150 billion ($40.8 billion) by the end of this year, according to reports.

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Energy, Oil & Gas

Adnoc acquires 34 service stations in UAE

Adnoc Distribution, a unit of Abu Dhabi National Oil Company, has successfully taken over 34 Emarat service stations and a fuel depot at Port Khaled in Sharjah.

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Finance & Capital Market

Nayef Al-Hajraf new Kuwait CMA chief

Kuwait's cabinet appointed former finance minister Nayef Al-Hajraf as chairman of its Capital Markets Authority, which regulates the stock market, state news agency Kuna said.

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Analysis, Interviews, Opinions

Clear vision, values key to ‘culture of quality’

Clearly stated quality vision and values, and unequivocal leadership are key components to a successful culture of quality that can help organisations drive results, according to new research.

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Travel, Tourism & Hospitality

ICAO plans new conflict zone warning system

The International Civil Aviation Organisation (ICAO) plans to launch two pilot projects designed to help airlines and states better share information about risks in conflict zones.

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IT & Telecommunications

Du declares interim dividend; Q2 revenue up 13pc

Emirates Integrated Telecommunications Company (du) has declared an interim dividend of Dh0.12 ($0.03) per share at its Ordinary General Meeting (OGM) held yesterday (August 25) in Dubai.

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Government & Laws

$130m fake mobiles seized in Dubai

More than 60,000 fake mobiles worth Dh48 million ($130.6 million) were seized from August 9 to 23 by Dubai Police’s Criminal Investigations Department (CID), said a report.

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Health & Environment

Burjeel pledges 1,000 free cardiac surgeries

Burjeel Hospital, Abu Dhabi’s leading tertiary care facility, has announced its plans to carry out 1,000 cardiac surgeries for free to help the needy.

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Media & Promotion

Amazon snaps up live video startup for $970m

Amazon.com snapped up live-streaming gaming network Twitch Interactive for about $970 million in cash, reflecting chief executive officer Jeff Bezos' resolve to transform Amazon into an Internet destination beyond its core retail operations.

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Education, HR & Training

Bahrain launches initiative to help young entrepreneurs

An initiative has been launched to help young Bahraini entrepreneurs turn their projects into successful businesses that will contribute to the national economy.

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Miscellaneous

Burger King to buy Canada food chain for $11.5bn

Burger King Worldwide announced plans to buy Canadian coffee and doughnut chain Tim Hortons for C$12.64 billion ($11.53 billion) in a cash-and-stock deal that would create the world's third-largest fast-food restaurant group.

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