Wednesday 4 March 2015

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LARGE DIAMETER PIPE PROJECT
Senaat, Japanese steel giants form UAE JV

Senaat, a leading industrial holding company in the UAE, has entered into a joint venture with a consortium of two leading Japanese companies in the steel sector to manufacture and sell large diameter high quality sour grade steel pipes.

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1

‘ONE-STOP SHOP’ TO LURE FDI
Egypt approves long-awaited investment law

Egypt's cabinet approved a long-awaited draft law on investment on Wednesday, the prime minister said, aimed at making deals less vulnerable to legal disputes or changes in government, and reducing stifling bureaucracy.

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2

SHARE TRADING TO RESUME
Mobily insists can meet all debt commitments

Saudi Arabian telecommunications firm Mobily insisted on Wednesday it could meet all its debts despite announcing last week that it had suffered a $243 million loss in 2014 and expected to breach covenants on long-term loans.

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3

SPECIAL REPORT
One billion new unique mobile subscribers by 2020

An additional one billion people will become mobile subscribers over the next five years, according to a major new report published today (March 4) at the ongoing Mobile World Congress in Barcelona, Spain.

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4

INTERVIEW
Four Seasons Bahrain - a destination within

The newly opened Four Seasons Hotel Bahrain Bay, a destination in itself with world class facilities and outlets, hopes to bring a qualitative leap in the kingdom’s hospitality sector.

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5

IMAGE OF THE DAY
Message from Mongolia

Participants from the Mongolia stand check their phones, at the International Tourism Trade Fair (ITB) in Berlin on March 4. The fair has over 10,000 exhibitors from around 190 countries.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

S Korea to build $2bn nuke plants in Saudi Arabia

South Korea has signed a Memorandum of Understanding (MoU) with Saudi Arabia to help boost its renewable energy capacity by building nuclear reactors worth SR7.5 billion ($2 billion) across the kingdom.

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Retail & Wholesale

Apple edges out Samsung in Q4 smartphone sales

Apple Inc sold the most number of smartphones globally in the fourth quarter, overtaking Samsung Electronics Co Ltd for the first time since 2011, according to research firm Gartner.

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Energy, Oil & Gas

Oman's PDO ups crude output above 2015 plans

State-controlled oil producer Petroleum Development Oman (PDO) raised its crude output in the first two months of the year to more than the planned annual average of 570,000 barrels per day (bpd), a top official said.

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Finance & Capital Market

Alkhabeer to expand capital markets business

Alkhabeer Capital, a Saudi Arabia-based Islamic investment and advisory firm, plans to expand its discretionary management business and apply for a listing on the Saudi stock exchange later this year, its chief executive told Reuters.

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Analysis, Interviews, Opinions

Oil price slump ‘unlikely to spur sovereign sukuk’

Although lower oil prices may lead to fiscal deficits in some GCC countries, most governments' net asset positions will likely remain strong enough to enable their financing, limiting the upside for sukuk issuance in 2015, a report said.

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Industry, Logistics & Shipping

Saudi shipper Bahri plans $1bn sukuk

National Shipping Company of Saudi Arabia (Bahri) plans to sell 10-year sukuk worth SR3.9 billion ($1.04 billion) by the end of March, a company executive said.

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Travel, Tourism & Hospitality

Egypt to showcase $5.3 billion tourism projects at ATM

Exhibitors from Egypt will be participating at the this year’s Arabian Travel Market, showcasing the country's resurgent tourism sector with new tourism projects worth $5.3 billion either developed or in the pipeline.

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IT & Telecommunications

Mobily insists can meet all debt commitments

Saudi Arabian telecommunications firm Mobily insisted on Wednesday it could meet all its debts despite announcing last week that it had suffered a $243 million loss in 2014 and expected to breach covenants on long-term loans.

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Lifestyle

McLaren limits Super Series model to 500 units

The production of McLaren 675LT, the lightest, most powerful and fastest as well as the most exclusive model in the McLaren Super Series, will be limited to just 500 examples worldwide, the British manufacturer said.

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Motoring

Nissan’s Patrol Pick-up upgraded

Nissan Patrol Pick-up, the four-wheel drive vehicle manufactured by Nissan, has been put through a host of rigorous testing procedures in Saudi Arabia and UAE, resulting in various model improvements to the vehicle.

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Media & Promotion

Facebook chairman ‘richest under 40’

Mark Zuckerberg, co-founder, chairman and CEO of Facebook, has topped the Wealth-X list of the world’s top 10 richest individuals under 40, according to a study by Wealth-X, a leading authority on wealth intelligence.

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