Tuesday 22 July 2014

0

DRAFT LAW NEXT MONTH
Saudi to open stock market to foreigners in early 2015

Saudi Arabia's Capital Market Authority plans to open the stock market to direct investment by foreign financial institutions in the first half of 2015, the regulator said on Tuesday.

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1

TRAIN ON WAY TO NETHERLANDS
Bodies, black boxes handed over from Ukraine crash site

A train carrying the remains victims of the Malaysia Airlines plane downed over Ukraine was heading for Ukrainian government territory on Tuesday as a separatist leader handed over the plane's black boxes to Malaysian experts.

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2

STRONG PRIVATE SECTOR
Saudi economic growth forecast to hit 4.6pc

Saudi Arabia's economy is likely to grow 4.6 percent this year, more than previously estimated, helped by a robust performance of the private sector, the International Monetary Fund said.

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3

SPECIAL REPORT
UAE tops in innovation in Middle East

The UAE ranked first among the countries of the Middle East in terms of overall performance in the 2014 Global Innovation Index, which was released today.

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4

FOCUS
Professional job opportunities rise 21pc in UAE

Professional job opportunities across the UAE increased by 21 per cent between the first and second quarters of 2014, according to a new survey by global recruitment specialist Morgan McKinley.

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5

IMAGE OF THE DAY
Plane burnt out

A wreckage of a burnt aircraft is pictured after a shelling at Tripoli International Airport on July 21. Heavy fighting has erupted around Tripoli International Airport, where rival militias have been battling for control.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Qatar real estate projects to hit $9bn

Qatar’s real estate project value is set to reach QR35 billion ($9.6 billion) in the next five year, with about 25,000 housing unites to be available by the end of this year, said a report.

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Retail & Wholesale

Qatar's retail market hits $8bn mark

Qatar’s retail market has hit QR32 billion ($8.9 billion) mark, as a result of growing demand and higher purchasing power of people, said a report.

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Energy, Oil & Gas

Saudi Electricity Q2 profit jumps 144pc

Saudi Electricity Co (SEC) , the Gulf's largest utility firm, reported a 144 percent jump in its net profit for the second quarter on Monday, beating analysts' forecasts because of a one-time gain.

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Finance & Capital Market

Kingdom Holding Q2 net profit up 16.8pc

Saudi Arabia's Kingdom Holding, the investment firm owned by billionaire Prince Alwaleed bin Talal, reported a 16.8 percent increase in second-quarter net profit on Monday, citing higher income from investments.

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Analysis, Interviews, Opinions

UAE tops in innovation in Middle East

The UAE ranked first among the countries of the Middle East in terms of overall performance in the 2014 Global Innovation Index, which was released today.

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Industry, Logistics & Shipping

Mideast packaging industry to grow 5pc annually

The $4 billion worth flexible packaging industry in Middle East and Africa is forecast to grow five per cent annually and is one of the fastest growing sectors in the manufacturing industry in the region, according to an expert.

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IT & Telecommunications

Mobily Q2 profit hit by Atheeb deal provision

Etihad Etisalat (Mobily), Saudi Arabia's No 2 telecom operator, matched forecasts on Monday despite a 18.6 percent fall in second-quarter net profit caused by a provision against a scrapped network sharing deal with Atheeb Telecom.

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Government & Laws

Bahrain's alcohol clamp to stay: minister

There is no going back on an alcohol ban imposed on three-star hotels in Bahrain, Culture Minister Shaikha Mai bint Mohammed Al Khalifa reiterated yesterday.

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Motoring

Maserati sales soar in Mideast, Africa

Italian luxury car manufacturer Maserati has exceeded its 2013 Middle East and Africa (MEA) sales in the first half of this year, while continuing its global expansion strategy.

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Health & Environment

Roche plans to steer clear of big acquisitions

Roche plans to steer clear of the wave of big takeovers sweeping through the healthcare industry and focus instead on small acquisitions and partnerships, the Swiss drugmaker's chief executive said in an interview.

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Media & Promotion

OSN gets buyout offer from unnamed bidder

Middle Eastern pay-television operator OSN is the subject of a full takeover bid from an unnamed buyer, its parent company said on Sunday, a deal that could prove to be one of the largest acquisitions of a regional business in recent years.

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Education, HR & Training
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