Tuesday 26 May 2015

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NEW FIVE-YEAR PLAN
Almarai eyes $5.6bn capital expenditure

The board of Saudi Arabia's Almarai has approved a capital investment plan which will reach SR21 billion ($5.6 billion) in the next five years, it said on Tuesday.

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MERGER EYES $55bn REVENUE
Samsung's Cheil to acquire affiliate Samsung C&T

Samsung Group's holding company Cheil Industries Inc said on Tuesday that it will acquire affiliate Samsung C&T Corp by September, the latest step in the restructuring of South Korea's biggest conglomerate.

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2

POWER, WATER NEXT
Bahrain government plans more subsidy cuts

Electricity and water subsidies will be the next to be axed as part of the Bahrain government's cost-cutting measures, it has emerged.

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3

ANALYSIS
Can UAE reach ambitious 2021 health goals?

The United Arab Emirates will need a steep increase of 50 per cent in the number of doctors from 2012 levels in order to meet its ambitious 2021 health targets, a report said.

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4

ANALYSIS
Life sciences challenge tech in global innovation

The life sciences industry is increasingly taking over from the tech sector in driving global innovation, according to a Thomson Reuters analysis of global patents.

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NEWS IN PICTURES
Playing dress-up

Dubai-based Emirates has launched the airline’s official cabin crew and pilot uniform for children in its Spring/Summer 2015 collection. Aspiring cabin crew and pilots aged 3 to 8 years can now play dress-up with the exclusive collection.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

AlRajhi in deal to develop key Saudi project

AlRajhi United, a leading investment company in Saudi Arabia, said it has sealed a land acquisition deal in capital Riyadh for the development of a distinguished project in the kingdom.

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Retail & Wholesale

Marka expects to turn profitable next year

Dubai's Marka, a retail and restaurant start-up that listed on the emirate's bourse last year, expects to turn profitable in 2016, a company official said on Tuesday, pushing back the timeline given earlier.

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Energy, Oil & Gas

Mitsubishi, Tepco win $2.5bn Qatar gas plant bid

Japan's Mitsubishi Corp and Tokyo Electric Power Co (Tepco) said on Monday they had won a contract to build a 300 billion yen ($2.5 billion) gas-fired power plant in Qatar, as Japan steps up investment in infrastructure in Asia.

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Finance & Capital Market

H+K, Buchanan launch financial consultancy

Hill+Knowlton Strategies (H+K), a leading communications consultancy, and UK-based Buchanan, a major financial communications consultancy have joined forces to launch a specialist financial communications division dedicated to MEA.

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Analysis, Interviews, Opinions

Plane safe? Hacker case points to deeper cyber issues

As the aviation industry adopts communication protocols similar to those used on the Internet to connect cockpits and ground controls, it leaves itself open to the vulnerabilities tormeting other industries - from finance to oil and gas.

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Industry, Logistics & Shipping
Travel, Tourism & Hospitality
IT & Telecommunications

Etisalat, Ericsson extend tie-up in new areas

UAE-based telecom group Etisalat and networking leader Ericsson have extended a strategic partnership to extend collaboration in new areas and strengthen their market position as ICT partners of business.

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Lifestyle

IWC, Asia Jewellers showcase Portofino collection in Bahrain

Swiss luxury watch manufacturer IWC Schaffhausen and its partner in Bahrain, Asia Jewellers, are jointly hosting an exhibition of the Portofino Midsize collection in Bahrain’s Moda Mall.

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Motoring

Kia’s all-new Sorento arrives in Middle East

Kia Middle East and Africa has announced the arrival of the third-generation Kia Sorento, an SUV offering a unique blend of style, practicality and technology, to the region.

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Health & Environment

UAE healthcare quality ‘hinges on staff retention’

Private investment is helping drive the UAE towards its goal of implementing international best-practice in healthcare by 2021, but the sector needs to work harder to attract and retain skilled staff, a report said.

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Media & Promotion

Marka buys 65pc stake in UK online retailer

Marka, the first public joint stock company focused on the UAE’s retail sector, has purchased a 65 per cent stake in the UK-based online retailer Icons Shop for Dh15.3 million ($4.16 million).

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Miscellaneous

Alternatives to subsidy cuts urged in Bahrain

Alternatives to subsidy cuts must be found as Bahrain seeks to rein in public spending, a joint meeting of MPs and Shura Council members announced yesterday (May 24).

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