Monday 2 March 2015

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GOVT SPENDING ‘CRUCIAL’
Bahrain, Oman banks ‘most vulnerable to oil price fall’

Banking systems in Bahrain and Oman are more vulnerable to the recent drop in oil prices than those in the rest of GCC due to their highly oil-dependent economy where the budget breakeven price is significant, a report said.

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1

DEFICIT TO BE CUT
Egypt to attract $8bn FDI this year

Egypt expects to attract $8 billion of foreign direct investment in the current fiscal year through June, up from $4 billion last year, Investment Minister Ashraf Salman said.

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2

TELECOM'S NEXT BIG IDEA
Mobile industry tiptoes towards 5G

Running short of dramatically new phone designs, leaders of the world's wireless industry agree their next big idea is 5G, shorthand for the fifth generation of networks they expect to have up and running by 2020.

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3

ANALYSIS
Private sector job creation ‘critical for GCC growth’

Private sector job creation and maintaining an inclusive labour market are crucial to achieve long term fiscal sustainability in the GCC countries, a report said.

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4

Throwing light on GCC dispute rules

The regional construction boom has seen several foreign contractors enter the market in a big way. It is important for them to know some basic principles relating to recovery of damages, says an expert.

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5

IMAGE OF THE DAY
Long and winding road

Afghan survivors of an avalanche walk in the Abdullah Khil village, Afghanistan on March 1. More than 180 people have been killed in some of the worst avalanches there for 30 years, officials said.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Bahrain's residential rental rates stable

The residential market in Bahrain has seen little change in the last quarter of 2014 with a marginal increase of two per cent in prime locations mainly in the northwest of the island, which is populated by expatriates, said a report.

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Retail & Wholesale

iPhone 5s continues to dominate UAE market

The iPhone 5s was the most commonly used smartphone in the UAE during the fourth quarter of 2014, comprising 4 per cent of the total handsets while marking a 9 per cent growth over the previous quarter, according to latest figures.

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Energy, Oil & Gas

Acwa gets $344m loan for Dubai solar project

Saudi Arabia's Acwa Power is obtaining a loan of about $344 million from three banks to finance a solar energy project in Dubai, UAE, chief executive Paddy Padmanathan said on Sunday.

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Finance & Capital Market

Oman to issue first sovereign sukuk by mid-2015

Oman plans to make its first sovereign issue of Islamic bonds, a 200 million rial ($520 million) issue, by mid-2015 to help finance a budget deficit caused by the plunge of oil prices, the head of its central bank said.

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Industry, Logistics & Shipping

Senaat to invest $1.36bn on industrial projects

Senaat, one of the UAE’s largest industrial holding companies, is planning to invest Dh5 billion ($1.36 billion) on further expanding its portfolio of industrial projects over the next two years.

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IT & Telecommunications

Etisalat provides network solution to DFM

Etisalat recently provided high quality end-to-end unified network connectivity solution to Dubai Financial Market (DFM), the region’s leading financial market.

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Lifestyle

Montblanc salutes John F Kennedy

Montblanc launched its new Great Characters Edition commemorating John F Kennedy, one of the most charismatic political figures and a man of extraordinary achievements, at an exclusive diplomats dinner in Abu Dhabi recently.

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Motoring

Ali Alghanim launches BMW X6 in Kuwait

Ali Alghanim & Sons Automotive, the exclusive importer for BMW, MINI and Rolls-Royce in Kuwait, has launched the new BMW X6, the second generation of the sports activity coupé.

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Health & Environment

Bahrain’s doctors seeking better facilities

Doctors on duty at Bahrain's main public hospital claim they are being treated "worse than labourers" due to allegedly "filthy" conditions and bed shortages in the on-call rooms.

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Education, HR & Training

Online education tools use ‘results in better outcomes’

The opportunities that online education tools provide in terms of student assessment, engagement and education outcomes was discussed at the recently concluded 2015 Global Education Forum in Dubai, UAE.

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Miscellaneous

Qatar's Hassad Food eyes Brazilian sugar, poultry assets

Hassad Food, the agricultural arm of Qatar's sovereign wealth fund, said it was looking at possible purchases of Brazilian sugar and poultry assets as structural problems in those industries in the South American country created opportunities.

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