Saturday 25 October 2014

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OIL PRICE PRESSURE
Oman may start cutting subsidies from next year

Oman's government is likely to start cutting some state subsidies next year as the decline in global oil prices pressures its finances, Minister for Financial Affairs Darwish al-Balushi said on Saturday.

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1

ECONOMIC REFORMS NEEDED
Gulf states must cut spending amid oil price slump

Gulf states must undertake comprehensive economic reforms including that of imbalances in public finances, as weak oil prices cloud their economic outlook, Kuwaiti Finance Minister Anas al-Saleh said on Saturday.

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2

INVESTMENT IN BIGGER SHIPS
United Arab Shipping embarks on $2bn expansion drive

United Arab Shipping Company (UASC) is on a major expansion drive, investing more than $2 billion in bigger ships and forming alliances with peers to boost efficiencies and ride out tough markets.

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3

ANALYSIS
Blood washing away lines in Middle East's sand

Iraq and Syria were both born of the post-World War I accord. But that pact, now almost a century old, appears in tatters, as both countries are broken, exhausted by years of war and sectarian division for which there is no easy repair.

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4

INSIGHT
Fixing ‘Ebolanomics’ in pursuit of vaccines and drugs

As researchers from Africa to China to America race to develop vaccines and treatments to fight Ebola, health experts are grappling with the economics of a disease that until this year had been off the drug industry's radar.

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5

IMAGE OF THE DAY
Spiderman in Hong Kong

A supporter of the pro-democracy protests dressed as comic figure Spider-Man performs to the crowd on a road blocked by protesters at Mongkok shopping district in Hong Kong on October 24.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Lebanon's real estate transactions hit $6.7bn

The number of real estate transactions in Lebanon surged 10.6 per cent to hit $6.7 billion in the first nine months of 2014 compared to $6 billion during the same period last year, said a report.

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Retail & Wholesale

Yas Mall to unveil brand new retail concepts

Yas Mall, Abu Dhabi’s ultimate retail destination set to open in November, is set to unveil a variety of brand new concepts launched for the first time by leading regional and international retail stores.

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Energy, Oil & Gas
Finance & Capital Market

Aabar seeks amplified role in $22bn Malaysia banking deal

Aabar Investments is demanding a hefty premium for its minority stake in Malaysia's No.4 bank, as the Abu Dhabi state fund leverages on its amplified role in a $22 billion merger that will create Southeast Asia's fourth-largest lender.

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Analysis, Interviews, Opinions

Blood washing away lines in Middle East's sand

Iraq and Syria were both born of the post-World War I accord. But that pact, now almost a century old, appears in tatters, as both countries are broken, exhausted by years of war and sectarian division for which there is no easy repair.

More…
Industry, Logistics & Shipping

United Arab Shipping embarks on $2bn expansion drive

United Arab Shipping Company (UASC) is on a major expansion drive, investing more than $2 billion in bigger ships and forming alliances with peers to boost efficiencies and ride out tough markets.

More…
Travel, Tourism & Hospitality

Oman posts record tourism growth in H1

Oman registered record tourism growth in the first half with more than one million international tourists visiting the country, of which 387,103 were from the GCC, said a report, citing official data.

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IT & Telecommunications

Samsung sets new 5G speed record

Samsung Electronics said it has achieved a major milestone in 5G development with industry best speed of 7.5Gbps (940MB per second), over 30 times faster than 4G LTE.

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Lifestyle

Qatar’s boat show doubles in size

The Qatar International Boat Show (QIBS) has grown in size and stature with leading bands such as Lurssen, Palmer Johnson, Blohm and Voss, and Esen Yacht headed out for the event, which will be held in Doha’s premier marina next month.

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Motoring

Volvo posts $401m profit on cost cuts

Global truck maker Volvo has registered a surprise rise in core quarterly profit as deep cost cuts more than made up for lacklustre demand in some major markets.

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Health & Environment

TVM Capital to invest $200m in UAE healthcare

Dubai-based private equity firm TVM Capital Healthcare Partners plans to invest $200 million over the next four years to expand its companies across the Gulf Arab region and India, its chairman told Reuters.

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Media & Promotion

Google launches ‘real-time’ email service

Google launched an email service called "Inbox" on Wednesday that will better organise emails and display information such as appointments, flight bookings and package deliveries in a more user-friendly way.

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Education, HR & Training

GCC upbeat on hiring, but young talent ‘a concern’

GCC employers looking to hire hundreds of thousands of new recruits in the next 12 months are also projecting an average 9 per cent increase in salaries, but a new study says they face a major challenge with young talent.

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