Tuesday 28 April 2015

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FURTHER DECLINES LIKELY
Riyadh property sales sink over tough mortgage rules

Residential property sales in Saudi Arabia's capital Riyadh have plunged since the kingdom introduced tougher mortgage rules last November, a report said, adding that the restrictions would spur further country-wide declines.

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1

STRATEGIC MOVE
GCC investors buy giant Libyan cement company

A group of Gulf-based investors have bought the largest cement maker in eastern Libya, betting on a construction boom once fighting abates in the North African country, one of the investors said.

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2

SAUDI READY TO SUPPLY MORE
Asian oil demand remains strong, says Naimi

Oil demand in Asia is strong and Saudi Arabia is ready to supply any more crude needed, its oil minister said on Tuesday during a visit to China, as the world's top crude exporter aims to maintain its market share.

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3

SPECIAL REPORT
GCC food consumption on track to top 50m tonnes

Food consumption in the GCC, backed by encouraging macroeconomic drivers, is expected to grow at a 3.5 per cent CAGR between 2014 and 2019 to reach 51.9 million metric tonnes (MT), a report said.

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4

MONEY MATTERS
Abu Dhabi rolls out red carpet for market makers

The two main stock exchanges in the UAE are trying to attract market makers but some industry professionals say Abu Dhabi is offering more generous financial terms and more liberal rules than Dubai, suggesting it may have more success.

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5

NEWS IN PICTURES
Brawns from Bahrain

Sayed Yaser, an employee of Bahrain-based Nass Asphalt, a leader in road construction, has been selected to represent the kingdom at the Asian Bodybuilding & Fitness Championship, set to be held in Japan in June.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

GCC investors buy giant Libyan cement company

A group of Gulf-based investors have bought the largest cement maker in eastern Libya, betting on a construction boom once fighting abates in the North African country, one of the investors said.

More…
Retail & Wholesale

Huawei launches new budget smartphone

Huawei Technologies launched on Tuesday the Honor 4C smartphone, the latest bid by the Chinese technology firm to gain market share in the highly competitive budget handset segment from domestic rivals such as Xiaomi.

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Energy, Oil & Gas

Asian oil demand remains strong, says Naimi

Oil demand in Asia is strong and Saudi Arabia is ready to supply any more crude needed, its oil minister said on Tuesday during a visit to China, as the world's top crude exporter aims to maintain its market share.

More…
Finance & Capital Market

Gulf banks tighten credit for small firms as cheap oil bites

Banks are tightening lending conditions for small, private companies in the Gulf - a sign that the region's economies are not escaping damage from the plunge of oil prices.

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Analysis, Interviews, Opinions

Abu Dhabi rolls out red carpet for market makers

The two main stock exchanges in the UAE are trying to attract market makers but some industry professionals say Abu Dhabi is offering more generous financial terms and more liberal rules than Dubai, suggesting it may have more success.

More…
Industry, Logistics & Shipping

Lamprell lands Abu Dhabi NDC contract

Lamprell, a leading provider of diversified fabrication, engineering and contracting services, said it has won a deal from National Drilling Company (NDC) Abu Dhabi, for the construction and delivery of a jackup drilling rig.

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Travel, Tourism & Hospitality

Canada to pump $2bn into Egypt hospitality sector

Canada is looking to inject finance into Egypt’s economy with the recent signing of a $2 billion hospitality project deal with City Stars properties, the region's leading real estate developer, said a report.

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IT & Telecommunications

Du net profit falls 0.6pc, misses estimates

UAE-based telecom operator du has reported a 0.6 per cent fall in first-quarter profit, missing analysts' estimates as it paid a higher tax rate than a year earlier and its mobile subscriber base shrunk slightly.

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Lifestyle

Living UAE’s ‘high life’ could leave expats hard up

The lavish lifestyle options offered by Dubai and Abu Dhabi and the “upgrade” culture in the UAE could lead many expatriates to end up spending far more money than they initially budgeted for, said a financial expert.

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Motoring

Bosch backs UAE’s move to rate garages

Government plans to regulate the UAE’s car service industry by awarding garages three-, four- or five-star ratings based on a new set of criteria have been welcomed by Bosch, a leader in automotive service and spare parts.

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Health & Environment

DHA launches Rashid Medical Library app

The Dubai Health Authority (DHA) has launched a smart Rashid Medical Library application which will provide all medical staff with access to a huge number of medical e-books, journals, health data bases and reference materials.

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Media & Promotion

Facebook launches video calling in Messenger

Facebook Inc introduced free video calling in its Messenger phone app on Monday as the company seeks to transform its mobile messaging service into a full-featured platform with the same reach as its 1.4 billion user social network.

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Education, HR & Training
Miscellaneous

Iran, world powers ‘closer than ever to nuke deal’

The US and five other major powers are closer than ever to a deal with Iran that would end a 12-year-old standoff over Tehran's nuclear program, though more tough negotiations lie ahead, US Secretary of State John Kerry said on Monday.

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