Thursday 24 April 2014

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7.5 MILLION-TONNE GAP
Bahrain's Arabian Sugar sees huge demand in region

Bahrain's Arabian Sugar Company, which came on stream in February, sees room for more refining capacity in the Middle East and North Africa to fill a 7.5 million tonne supply gap.

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1

BUDGET AIRLINES TO START OP
It's official: New Doha airport to open next week

Qatar's new Hamad International Airport, a key part of its plans to become a regional aviation hub, will open to passenger traffic next week after construction delays of more than a year, the country's Civil Aviation Authority said.

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2

WORLD'S TALLEST BUILDING
Iconic Kingdom Tower work moves above ground

Jeddah Economic Company (JEC), owner and developer of The Kingdom Tower and City in Jeddah, has announced the completion of the foundation work and the beginning of above ground work on the tower.

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3

INSIGHT
New Egypt law to lure investors may feed corruption

A new Egyptian law that prevents third parties from challenging contracts made with the government may encourage foreign investors but critics say it will increase scope for corruption.

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4

SPOTLIGHT
Property bubble? 'Not in Abu Dhabi'

Abu Dhabi remains far from entering a boom-and-bust cycle in its real estate market even though property prices in the wealthy emirate are rising sharply, executives said at a major industry fair.

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5

IMAGE OF THE DAY
World War I remembered

Turkey's historical Ottoman band members stand in front of the Turkish memorial during an international service marking the 99th anniversary of the World War I campaign in Gallipoli on April 24.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Emaar aims to quadruple profits by 2018

Emaar Properties, Dubai's largest listed real estate developer, predicted on Wednesday that its profits would more than quadruple by 2018 as the emirate's economy booms and the company's overseas business expands.

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Retail & Wholesale

Al Meera posts record $10.75m Q1 profit

Al Meera Consumer Goods Company has posted a record net profit of QR39.2 million ($10.75 million) doe the first quarter of 2014 as compared to QR25.7 million for the same period in 2013, an increase of 52.12 per cent.

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Energy, Oil & Gas
Finance & Capital Market

Emirates NBD profits surge 25pc

Emirates NBD, Dubai's largest lender, said on Thursday its first-quarter net profit rose 25 percent on the back of both interest and fee income, beating analysts' forecasts.

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Analysis, Interviews, Opinions

New Egypt law to lure investors may feed corruption

A new Egyptian law that prevents third parties from challenging contracts made with the government may encourage foreign investors but critics say it will increase scope for corruption.

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Industry, Logistics & Shipping

Armacell eyes investment in Bahrain

A high-level delegation from Armacell, a world leader in the market for flexible technical insulation material, has discussed investment opportunities with Economic Development Board (EDB) acting chief executive Kamal Ahmed.

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Travel, Tourism & Hospitality

It's official: New Doha airport to open next week

Qatar's new Hamad International Airport, a key part of its plans to become a regional aviation hub, will open to passenger traffic next week after construction delays of more than a year, the country's Civil Aviation Authority said.

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IT & Telecommunications

GCC nations among top 30 for network readiness

Qatar, the UAE and Bahrain have been ranked in the top 30 for the third consecutive year in an annual global technology survey for network readiness index 2014.

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Government & Laws

GCC nuclear plan called to counter Iran threat

GCC nations should work on acquiring nuclear know-how to balance any threat from Iran, said a senior member of Saudi Arabia’s royal family addressing a major conference in Bahrain spotlighting national and regional security.

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Motoring

Chevrolet posts 47pc sales growth in UAE

Chevrolet has posted a 47 per cent increase in sales in the UAE for the first quarter compared to the same period last year, making the country one of the highest growing markets in the Middle East for the quarter.

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Health & Environment

Mers virus: WHO urges greater vigilance

The World Health Organization (WHO) is concerned about the rising number of Middle East respiratory syndrome coronavirus (Mers-CoV) cases, especially in Saudi Arabia and the UAE, the organisation said.

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Media & Promotion

Saudi to regulate homegrown YouTube shows

Saudi Arabia plans to regulate local companies that screen shows on YouTube, a senior official was quoted as saying in local media - a move that could stifle its nascent creative industries.

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Education, HR & Training

Thomson Reuters in deal with Saudi Digital Library

Thomson Reuters, a leading source of intelligent information, has signed an agreement with the Saudi Digital Library to support the transformation of the Kingdom to a knowledge-based economy.

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Miscellaneous

US 'must test pesticide-coated apples'

US-grown apples are widely coated with a pesticide that has been banned in the European Union amid health concerns, and the US is at least a year behind in a required scientific assessment of the pesticide, an environmental group said.

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