Tuesday 28 April 2015

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STRATEGIC MOVE
GCC investors buy giant Libyan cement company

A group of Gulf-based investors have bought the largest cement maker in eastern Libya, betting on a construction boom once fighting abates in the North African country, one of the investors said.

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SAUDI READY TO SUPPLY MORE
Asian oil demand remains strong, says Naimi

Oil demand in Asia is strong and Saudi Arabia is ready to supply any more crude needed, its oil minister said on Tuesday during a visit to China, as the world's top crude exporter aims to maintain its market share.

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2

TOUGH DAY AHEAD FOR SMES
Gulf banks tighten credit for small firms as cheap oil bites

Banks are tightening lending conditions for small, private companies in the Gulf - a sign that the region's economies are not escaping damage from the plunge of oil prices.

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MONEY MATTERS
Abu Dhabi rolls out red carpet for market makers

The two main stock exchanges in the UAE are trying to attract market makers but some industry professionals say Abu Dhabi is offering more generous financial terms and more liberal rules than Dubai, suggesting it may have more success.

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4

ANALYSIS
Mobile apps—the new face of business

If companies cannot provide customers with a mobile app experience that accurately reflects the values of their brand, they risk seeing their competition pull ahead with a more convincing mobile offering, says new research from Oracle.

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5

NEWS IN PICTURES
Brawns from Bahrain

Sayed Yaser, an employee of Bahrain-based Nass Asphalt, a leader in road construction, has been selected to represent the kingdom at the Asian Bodybuilding & Fitness Championship, set to be held in Japan in June.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Meraas, Bulgari to launch luxury project in Dubai

Meraas, a Dubai-based holding company, has joined hands with top luxury brand Bulgari to launch a first-of-its-kind master development, comprising 165 apartments, eight penthouses and 15 mansions, on a private island off Jumeirah in Dubai.

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Retail & Wholesale

Huawei launches new budget smartphone

Huawei Technologies launched on Tuesday the Honor 4C smartphone, the latest bid by the Chinese technology firm to gain market share in the highly competitive budget handset segment from domestic rivals such as Xiaomi.

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Energy, Oil & Gas

India seeks first cut in LNG imports under Qatar deal

India is in talks with Qatar to import at least 10 percent less liquefied natural gas (LNG) under a long-term deal after a slide in spot prices has cut demand by local buyers, an Indian government source said.

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Finance & Capital Market


Itqan, Mubasher to set up sharia-compliant brokerage firm


Itqan Capital, a Saudi Arabia-based investment company, and Mubasher Financial Services, a leading financial institution in the Middle East, have signed a deal to establish a sharia-compliant global brokerage company.

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Analysis, Interviews, Opinions

Quake warnings of minutes, not hours, are possible

Nepal's record of earthquakes dates to at least the 13th century, with significant temblors striking every 75 years or so. And through all that time, people in the path of destruction have had no idea when the shaking would start.

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Industry, Logistics & Shipping

DP World volumes up 4.4pc to 15m TEUs

DP World Limited handled 15 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during the first quarter of 2015, with gross container volumes growing by 4.4 per cent.

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Travel, Tourism & Hospitality
IT & Telecommunications

Ooredoo Kuwait net profit plunges 89pc

Ooredoo Kuwait, the country's No.3 telecoms operator by subscribers, blamed foreign-exchange losses from its Tunisia and Algeria operations as it posted an 89 per cent fall in first-quarter profit that extended a lengthy earnings slump.

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Lifestyle

Living UAE’s ‘high life’ could leave expats hard up

The lavish lifestyle options offered by Dubai and Abu Dhabi and the “upgrade” culture in the UAE could lead many expatriates to end up spending far more money than they initially budgeted for, said a financial expert.

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Motoring

Dubai launches ‘Back off Radio’ for taxis

Dubai Roads and Transport Authority (RTA), in partnership with Arabian Radio Network (ARN) has created a device called ‘Back off Radio’, which will alert drivers when they are too close to the car in front.

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Health & Environment

DHA launches Rashid Medical Library app

The Dubai Health Authority (DHA) has launched a smart Rashid Medical Library application which will provide all medical staff with access to a huge number of medical e-books, journals, health data bases and reference materials.

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Media & Promotion

Facebook launches video calling in Messenger

Facebook Inc introduced free video calling in its Messenger phone app on Monday as the company seeks to transform its mobile messaging service into a full-featured platform with the same reach as its 1.4 billion user social network.

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Miscellaneous

Agthia posts $16m Q1 net profit, up 22pc

UAE-based Agthia Group, a top F&B company, has posted a net profit of Dh59.2 million ($16.1 million) for the first quarter of 2015, up 22 per cent from the same period in 2014 due to higher sales, improved margins and controlled overheads.

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