Saturday 30 May 2015

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ABC 'MOST SERIOUS CONTENDER'
BNP Paribas, ING, Bahrain group in race for HSBC Turkey

ING Group NV, BNP Paribas and Bahrain-based Arab Banking Corporation (ABC) have submitted bids to buy HSBC's Turkish business, a source familiar with the process said.

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1

QATAR DEFENDS BID
Blatter wins fifth Fifa term as challenger concedes

Sepp Blatter was re-elected president of Fifa for a fifth term on Friday after his only challenger conceded defeat in an election overshadowed by allegations of rampant corruption in world soccer.

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2

OPEC UNLIKELY TO CUT OUTPUT
Oil jumps 5pc as dollar rally stalls, US rigs fall

Crude oil prices jumped almost 5 per cent on Friday, their biggest rally in 1-1/2 months, as a steady US dollar and a bigger than expected drop in US oil rigs in operation set off a renewed rush of bullish bets.

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3

ANALYSIS
Opec supply, resurgent shale ‘to keep oil prices weak’

Oil prices are likely to stay relatively weak for the rest of this year due ample supply from traditional Middle East producers and a resurgence of US shale production, according to a Reuters survey.

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4

ANALYSIS
As sovereign issues grow, pricing stymies corporate sukuk

Sukuk issuance by governments around the world is expanding, helping to bring Islamic finance into the mainstream. But in one respect, the sovereign issues are proving a disappointment: they are not encouraging sukuk sales by companies.

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5

NEWS IN PICTURES
Merkel ‘most powerful woman’

German Chancellor Angela Merkel tops Forbes list of the 100 most powerful women with other world leaders close behind. Taylor Swift is the youngest ever entry.

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Top Trade News

icondown

Industry Sectors

Retail & Wholesale

Nakheel expands lease space at Ibn Battuta Mall

Dubai-based developer Nakheel is set to launch another 766,000 sq ft of shop and restaurant space for lease at Ibn Battuta Mall - the world’s largest themed shopping mall - on Monday (June 1).

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Finance & Capital Market

Saudi central bank's net foreign assets down 1.7pc

The net foreign assets at Saudi Arabia's central bank fell to SR2.546 trillion ($678.8 billion) in April, down 1.7 per cent from the previous month as the kingdom drew on its reserves to cover a budget deficit caused by low oil prices.

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Analysis, Interviews, Opinions

New intelligent devices on the rise by 2020

The number of consumers who will purchase a wearable fitness monitor by 2020 is expected to rise by 28 per cent, said a report, highlighting a trend for new intelligent devices.

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Industry, Logistics & Shipping
Travel, Tourism & Hospitality

Etihad reports 52pc jump in annual profit

Etihad Airways, UAE’s national airline, has reported a 52 per cent rise in its annual profit, reaching $73 million from $48 million a year earlier, the carrier said in an emailed statement on Thursday.

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IT & Telecommunications

Ooredoo reviews financial and strategic progress

Ooredoo has updated its investors and analysts on the business’ financial and strategic progress as part of its transparent investor relations programme during its annual Capital Markets Day held in Doha, Qatar recently.

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Lifestyle

4Space wins top luxury lifestyle award

4Space Interior Design, a Dubai-based architecture and interior design company, has won the 2015 Luxury Lifestyle Award for Interior Design Studio Category “Luxury interior design Company of UAE” at a recent event in Dubai, UAE.

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Motoring

GAC Motor expands to Lebanon

GAC Motor, an automobile manufacturing company headquartered in Guangzhou, China, recently held an opening ceremony for its new office in Lebanon.

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Health & Environment

Private India hospitals go luxe for growth

Private hospital operators in India are all but rolling out a red carpet to lure affluent locals and tourists to seek medical treatment at their luxe facilities, offering cinemas, Rolls-Royces and plush rooms on site.

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Media & Promotion

Saab, DigitalGlobe to build earth 3-D model

US satellite imagery provider DigitalGlobe and Sweden's Saab AB have announced a new joint venture aimed at building an accurate 3-D model of the earth and capturing billions of dollars in new business.

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Education, HR & Training

Saudi goes on refinery hiring spree in South Korea

Saudi Arabia's state oil firm is on a hiring spree in South Korea, as the top crude exporter seeks engineers to run plants in its soaring refining sector - setting it on course to compete with some Asian countries that are big oil buyers.

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Miscellaneous

Islamic State claims blast killing 4 at Saudi mosque

Islamic State claimed responsibility for a bombing that killed four people at a Shi'ite Muslim mosque in eastern Saudi Arabia, the second attack claimed by the Sunni militant group in a week in the world's top oil-exporting country.

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