Thursday 21 August 2014

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BAD INVESTMENTS
Khorafis win Dubai judgement vs Bank Sarasin

A court in Dubai's financial centre ruled in favour of Kuwait's prominent Khorafi family on Thursday in a suit against Switzerland's Bank Sarasin over $200 million of investments that went bad.

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1

DIPLOMATIC ROW CONTINUES
Qatar refuses to sign GCC committee report

Qatar has refused to sign a final report by a GCC committee monitoring the implementation of a Riyadh agreement on ending diplomatic dispute between Doha and other member states, a senior Gulf diplomat said.

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2

POLITICAL UNEASE HITS FDI
Jordan's trade deficit widens by 10.5pc in first half

Jordan's trade deficit widened in the first six months of this year by 10.5 percent to JD5.35 billion ($7.5 billion) compared with the same period in 2013, due to a higher bill for Saudi oil and increased consumption, official data showed.

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3

SPECIAL REPORT
Changing tides of time

A traditional Swiss watchmaker is opting for crowdfunding and share offerings to lure Middle East investors, enabling true watch lovers to become part owners of the “oldest Swiss watch factory”, discovers Jennifer Gnana.

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4

ANALYSIS
Africa’s middle class on track for bigger growth

Africa has experienced substantial growth in its middle class, which increased to 15 million households from 4.6 million in 2000, marking a rise of 230 per cent over 14 years, a report said, suggesting greater scope for future growth.

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5

IMAGE OF THE DAY
Stepping it up

Thailand's newly appointed Prime Minister Prayuth Chan-ocha (front) reviews honour guards during his visit to an infantry battalion on the outskirts of Bangkok on August 21.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

KAEC to build new link road to railway station

King Abdullah Economic City has signed a contract to develop the initial phase of a road that will connect the Haramain inner-city railway station with its Business Park and residential communities.

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Energy, Oil & Gas
Finance & Capital Market

DIFC Authority CEO Singer quits

Jeffrey Singer said on Wednesday that he had resigned as chief executive of the DIFC Authority, which oversees Dubai's financial free zone, the Dubai International Financial Centre.

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Analysis, Interviews, Opinions

Africa’s middle class on track for bigger growth

Africa has experienced substantial growth in its middle class, which increased to 15 million households from 4.6 million in 2000, marking a rise of 230 per cent over 14 years, a report said, suggesting greater scope for future growth.

More…
Industry, Logistics & Shipping

Emirates SkyCargo to launch freighter service to Basel

Emirates SkyCargo, the freight division of Emirates, is set to further strengthen trade lanes between Switzerland and its worldwide network with the introduction of a weekly freighter service between Basel and Dubai.

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Travel, Tourism & Hospitality

First ‘Studio M’ hotel in Mideast to open in Riyadh

Millennium & Copthorne Hotels Middle East and Africa (MEA) has unveiled plans to launch its Studio M brand in Riyadh, in partnership with Saudi Arabian owner Waseel Properties and developer Raseel Properties.

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IT & Telecommunications

Tablet sales overtake PCs in UAE

Tablet market has overtaken the PC market in the UAE for the first time by more than 6,700 units, according to International Data Corporation (IDC) findings.

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Government & Laws

Saudi sentences 18 to jail for militant offences

A Saudi Arabian court has sentenced 18 men to prison terms of 10 months to 25 years for their part in a series of militant attacks against government and foreign targets between 2003-06, state media reported late on Wednesday.

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Motoring

Ford plans new hybrid to compete with Toyota

Ford Motor plans to introduce a new hybrid gasoline-electric car to compete against the best-selling Toyota Prius, according to two sources with knowledge of the company's plans.

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Health & Environment
Media & Promotion

MBC eyes European football leagues coverage rights

Dubai-based MBC Group is eyeing rights to cover European football leagues as part part of its most recent expansion which included the launch of four sports channels.

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Education, HR & Training

Employers step up workers’ wellness investment

Seventy-eight percent of the world’s employers are strongly committed to creating a workplace culture of health, to boost individual engagement and organisational performance, according to a new study.

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Miscellaneous

Man’oushe Street eyes big Mideast expansion

Man’oushe Street, a popular Middle Eastern restaurant chain that serves traditional, home-styled street food, has opened its first restaurant in Egypt.

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