Friday 25 July 2014

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BAGHDAD THREATENS TO SUE
Iraqi Kurdish oil nears US port despite concerns

A tanker carrying crude oil from Iraqi Kurdistan is just two days away from arriving at a US port, according to ship tracking satellites, despite Washington's long-standing concern over independent oil sales from the autonomous region.

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1

COMPETITION INTENSE
Emirates NBD trims loan growth forecast

Emirates NBD trimmed its 2014 loan growth forecast but raised its expectations for how much lending would earn it this year after reporting an estimate-beating 34.8 percent jump in second-quarter net profit.

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2

BURNED OUT AND SCATTERED
Air Algerie plane wreckage found in Mali

Authorities said they have located the wreckage of an Air Algerie flight after it crashed in northern Mali carrying 116 passengers and crew, nearly half of them French, en route from Burkina Faso to Algeria.

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3

SPECIAL REPORT
Rise of Islamic State tests Syrian army strategy

The growing power of the ultra-hardline Islamic State means the Syrian army is now having to confront a group it has until now been reluctant to attack for political reasons.

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4

ANALYSIS
Saudi Arabia accelerates reform push with market opening

Saudi Arabia's decision to open its stock market to foreign investors is part of an accelerating series of economic reforms that may culminate in the most far-reaching change yet: higher domestic energy prices.

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5

IMAGE OF THE DAY
Bolt from blue

A bolt of lightning strikes over Tokyo skyscrapers at dusk in the Japanese capital.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

US firm wins key $35m reclamation deal in Bahrain

Great Lakes Dredge & Dock Corporation, a US-based dredging services provider listed on Nasdaq, has been awarded a Works Ministry contract valued at approximately $35 million.

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Retail & Wholesale

Marka to list shares on DFM in mid-September

Dubai retailing and restaurants group Marka plans to list its shares on the Dubai Financial Market (DFM) in the second week of September, in what would be the bourse's first flotation for five years, the company said on Wednesday.

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Energy, Oil & Gas

Taqa pulls out of $1.6bn India power deal

Abu Dhabi National Energy Co (Taqa) is pulling out of a $1.6 billion deal to buy two Indian hydroelectric power plants because of "a change in strategy", a senior Taqa official told Reuters on Thursday.

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Finance & Capital Market

Emirates NBD H1 profits surge 30pc to $640m

Emirates NBD, the largest bank in the UAE by total income and branch network, today reported a net profit growth of 30 per cent year on year for the first half to Dh2.350 billion ($639.7 million).

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Analysis, Interviews, Opinions

Supply, demand shift ‘largest risk to farm sector’

The fundamentals of supply and demand are causing concern, with increased consumption in emerging market, climate change and natural disasters affecting supply, said a survey.

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Industry, Logistics & Shipping

Agthia profit surges 21pc in H1

Agthia Group, one of the UAE’s leading food and beverage groups, has reported a net profit of Dh104.5 million (28.45 million) for the first half of 2014, an increase of 21 percent year-on-year.

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Travel, Tourism & Hospitality

Dubai H1 passenger traffic up 6pc to 34.67m

Passenger traffic at Dubai International rose to 34,676,090 during the first half of 2014, up 6.2 per cent from the same period last year despite a runway refurbishment programme that cut flights by over 26 per cent during May and June.

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IT & Telecommunications

Du posts estimate-beating Q2 profit gain

Du, the United Arab Emirates' second biggest telecommunications operator, reported a 15.6 percent rise in second-quarter profit on Thursday, beating analysts' estimates on the back of increased revenue from fixed and mobile services.

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Motoring

Audi to introduce lightweight springs

Audi plans to introduce new, lightweight suspension springs made of glass fibre-reinforced polymer (GFRP) in an upper mid-size model before the end of the year, reinforcing its leading role in automotive lightweight construction.

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Health & Environment

Paracetamol no use for low back pain: study

Paracetamol, a painkiller universally recommended to treat people with acute low back pain, does not speed recovery or reduce pain from the condition, according to the results of a large trial published on Thursday.

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Media & Promotion

GfK wins electronic TAM deal in Morocco

Germany-based GfK, a leading provider of audience measurement services, has won a tender with Morocco’s joint industry committee ‘Ciaumed,’ to deliver an electronic TV audience meausurement service (TAM) in the country.

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Education, HR & Training
Miscellaneous

Marmum to boost juices export

Marmum Dairy Farm, a subsidiary of Dubai Investments (DI) and one of the leading dairy brands in the UAE, has announced plans to export over 1.8 million litres of its Raha long-life juices across the Middle East and Africa this year.

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