Tuesday 16 September 2014

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DEAL LIKELY SOON
Arabtec ex-CEO agrees to sell stake to Aabar

Arabtec's former chief executive Hasan Ismaik has agreed in principle to sell at least part of his stake in the Dubai-based construction firm to Abu Dhabi state fund Aabar Investments, a source close to Ismaik said on Monday.

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1

OUTLOOK ‘EXTREMELY POSITIVE'
UAE property market stability keeps rents in check

The UAE’s property market witnessed improved stability during the first six months of 2014, with the rate of expansion steadying and the slowing down of growth in residential rents and values in Abu Dhabi, Dubai and Sharjah, a report said.

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2

TIE-UP WITH KERZNER
Dubai to develop $1.5bn luxury hotel on Palm Jumeirah

Investment Corp of Dubai (ICD), the UAE emirate's sovereign wealth fund, will be developing a 800-room luxury hotel on Palm Jumeirah at a cost of $1.5 billion in partnership with Kerzner International Holdings.

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3

ANALYSIS
Mena reinsurance markets stay on growth track

Growing insurance premiums and a relatively low exposure to natural perils are the main attractions which are driving the unabated growth of Mena reinsurance markets, a report said.

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4

MIDEAST DEBT
Conventional banks' sukuk to push limits of Islamic finance

Islamic bond programmes from a trio of big conventional banks are set to expand the boundaries of Islamic finance, helping open the market to first-time issuers while testing the banks' ability to win over industry purists.

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5

IMAGE OF THE DAY
Say ‘cube’

A model poses with two Lifestyle Action Cameras 'Cube' by Polaroid ahead of the world's largest fair for imaging in Cologne on September 15. More than 1,000 exhibitors from 51 countries will take part at the Photokina 2014 from Sept 16-21.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Arabtec ex-CEO agrees to sell stake to Aabar

Arabtec's former chief executive Hasan Ismaik has agreed in principle to sell at least part of his stake in the Dubai-based construction firm to Abu Dhabi state fund Aabar Investments, a source close to Ismaik said on Monday.

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Retail & Wholesale

Spinneys to launch 300 own-label products globally

Spinneys, a leading retailer in the Middle East, plans to launch more than 300 consumer and food private label products for export to global markets, predominantly in Asia, Africa and Mena.

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Energy, Oil & Gas

UAE’s annual energy use reaches 1.8bn MWh

Nearly 1.8 billion megawatt hours (MWh) of energy was consumed by the UAE to achieve a total annual GDP of $377 billion in 2013, according to Heliocentris, a German market leader in energy saving solutions.

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Finance & Capital Market

Turkish Islamic bank to establish in Bahrain

Turkish Islamic lender Turkiye Finans Katilim Bankasi plans to establish a presence in Bahrain, in what would be its first overseas foray and a welcome addition to the Kingdom's Islamic banking sector.

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Analysis, Interviews, Opinions

Mena reinsurance markets stay on growth track

Growing insurance premiums and a relatively low exposure to natural perils are the main attractions which are driving the unabated growth of Mena reinsurance markets, a report said.

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Industry, Logistics & Shipping

Aramco, PTT eye $22bn project in Vietnam

Thai energy company PTT has joined with Saudi Aramco, the world's biggest oil producer, to submit a proposal to the Vietnamese government to build a $22 billion refinery and petrochemical complex in Vietnam, a senior PTT official said.

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Travel, Tourism & Hospitality

Dubai to develop $1.5bn luxury hotel on Palm Jumeirah

Investment Corp of Dubai (ICD), the UAE emirate's sovereign wealth fund, will be developing a 800-room luxury hotel on Palm Jumeirah at a cost of $1.5 billion in partnership with Kerzner International Holdings.

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IT & Telecommunications

CommVault to showcase data protection platform

CommVault, a leading software company, will showcase an industry-leading software platform that protects corporate data in faster and more cost efficient ways at the upcoming Gitex Technology Week in Dubai, UAE.

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Government & Laws

Bahrain makes major reform strides

Bahrain has made major reform strides and achieved a lot in the fields of democracy, liberty and human rights, the Premier said yesterday (September 14).

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Health & Environment

‘Not all laser eye surgeries are the same’

Not all laser eye surgery and surgeons are the same, said a top Dubai-based eye surgeon, adding that prospective candidates need to be informed about the options, possible complications and the doctor’s qualifications and experience.

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Media & Promotion

Dubai forum to focus on wearable technology

Wearable technology and its social and commercial implications for the Gulf Cooperation Council (GCC) region will be the highlight of a forum set to take place tomorrow (September 16) in Dubai.

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Education, HR & Training

86pc of GCC firms plan to step up hiring

Eighty-six per cent of businesses in the GCC plan to increase their headcount over the next three years, a report said, adding that this confidence is particularly strong with small companies with less than 200 employees.

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