Wednesday 29 July 2015

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REASSURING KINGDOM
US approves sale of $5.4bn missiles to Saudi Arabia

The US State Department has approved the possible sale to Saudi Arabia of $5.4 billion in additional PAC-3 missiles built by Lockheed Martin Corp , the Pentagon said on Wednesday.

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1

FURTHER DECLINE SEEN
Dubai home sales plunge; prices down

Dubai home sales shrank by about two-thirds in the first half of 2015, and prices also slipped, with further declines expected over the rest of the year, property consultants JLL said in a report on Wednesday.

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2

FACILITY D PROJECT
Samsung wins $2.46bn Qatar power plant deal

Samsung C&T Corp, South Korea's Number One builder, has won a 2.87-trillion won ($2.46 billion) contract to build a power plant in Qatar, a report said.

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3

ANALYSIS
Oil: Need to scale back production?

As commodities crash to levels unseen in 13 years, improved demand could reverse the slide for some commodities, while for others, such as oil, scaling back production is what's needed, says an industry expert.

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4

ANALYSIS
UAE shifts fuel prices as the Gulf watches

The United Arab Emirates has become the first Gulf state to take a major step towards taming the gas-guzzling habits of its drivers, who see cheap fuel as part of their birthright.

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5

NEWS IN PICTURES
Adieu!

Emirates airline phased out its last remaining Boeing 777-200 from its fleet as part of an aggressive fleet renewal programme.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Kuwait awards $11.5bn contracts for Al Zour refinery

State-run Kuwait National Petroleum Company (KNPC) has awarded KD3.48 billion ($11.5 billion) worth of contracts to build its planned Al Zour refinery, Kuwaiti state news agency Kuna reported.

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Retail & Wholesale

Virgin Megastore opens first outlet in Al Ain

Virgin Megastore, a global leader in retail entertainment, has opened its first store in Al Ain at Al Jimi Mall, a leading shopping and leisure destination.

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Finance & Capital Market

Dubai Islamic Bank Q2 net profit jumps 35pc

Dubai Islamic Bank (DIB), one of the United Arab Emirates' largest sharia-compliant lenders, posted a 35 per cent rise in second-quarter net profit on Wednesday as loan impairments shrank.

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Analysis, Interviews, Opinions

UAE shifts fuel prices as the Gulf watches

The United Arab Emirates has become the first Gulf state to take a major step towards taming the gas-guzzling habits of its drivers, who see cheap fuel as part of their birthright.

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Industry, Logistics & Shipping

Aramex Q2 net profit surges 15pc to $25m

Aramex, a leading global logistics solutions provider, has reported a net profit of Dh92.6 million ($25.2 million) for the second quarter (Q2) of the year, as compared to Dh80.8 million for Q2 2014, marking an increase of 15 per cent.

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Travel, Tourism & Hospitality

Dubai theme parks market to top $1.36bn

Theme parks are pegged to rake in more than Dh5 billion ($1.36 billion) towards Dubai’s economy by 2020, said the organisers of an upcoming entertainment and leisure show in Dubai, UAE.

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IT & Telecommunications

Symantec uncovers new cyber spy group

Symantec, a global leader in IT security, has uncovered a formidable, highly resourced attack group that is equipped to conduct cyber-espionage against targeted organizations.

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Lifestyle

Swarovski opens first boutique in Muscat

The Khimji Ramdas Group, a leading retailer of top brands in Oman, has opened its first exclusive Swarovski boutique, an upscale Austrian chain known for its crystal jewellery, in Muscat.

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Motoring

Al Talayi launches new Bridgestone tyre

Al Talayi Company, the sole agent of Bridgestone tyres in Saudi Arabia, launched the new ‘Turanza T001’ tyre at a special event held in Jeddah, Saudi Arabia, for its customers in the kingdom.

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Health & Environment

Zulekha unveils fleet of buggies for patients

The Zulekha Hospital in Dubai and Sharjah has introduced a fleet of chauffeur-driven buggies to carry patients and visitors inside for appointments from the car park.

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Media & Promotion

Google drops networking platform Google+

Google is dropping Google Plus, the social network platform that it had launched four years ago, withdrawing it as the central hub for all Google-related activity, a report said.

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Education, HR & Training

Emirati women ‘more likely to work in banking’

Emirati women are more likely than their male counterparts to consider a position in banking and finance (29 per cent versus 11 per cent), found a major survey on Emiratisation.

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Miscellaneous

Bahrain PM vows to bring blast perpetrators to justice

The perpetrators of Sitra terrorist attack will be brought to justice and held accountable, Bahrain’s Premier said as he chaired a security meeting at Gudaibiya Palace yesterday (July 28).

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