Monday 31 August 2015

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EYES DEALS WITH GIANTS
Iran to finalise new oil contracts model in weeks

Iran expects to finalise the wording for a new model for international oil contracts in the next three weeks, the oil minister said on Monday, as Tehran seeks to boost recovery from its fields with the help of foreign companies.

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1

CHINA SLOWDOWN FEARS PERSIST
Asian stocks set for worst monthly drop in 3 years

Asian shares fell on Monday and looked set for their worst monthly performance in three years after top Federal Reserve officials kept the door open for an interest rate hike in September and Chinese stock markets took a fresh tumble.

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2

'ENOUGH FOR DECADES'
Mega gas discovery off Egyptian coast by Eni

Italian energy group Eni said on Sunday it had discovered potentially one of the world's largest natural-gas fields off the Egyptian coast, predicting that the find could help meet Egypt's gas needs for decades to come.

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3

ANALYSIS
ME funds positive on stocks as valuations improve

Middle East fund managers have turned more positive towards equities in the region after a plunge in markets reduced valuations and oil prices rebounded, a report said.

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4

SPOTLIGHT
Mena professionals ‘have a positive outlook on life’

Around 93.8 per cent of professionals in the Mena region have a positive outlook on life, with 56 per cent being “very positive” and 37.8 per cent being “somewhat positive”, a report said.

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5

NEWS IN PICTURES
New Lexus arrives

Cultivating a feeling of sheer quality with every touch, Lexus Bahrain recently unveiled the new ES 2016 at its showroom. The ES’ relaxing comfort and user-focused advanced technologies make every drive a joy, the company said.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Saudi Arabia inks key construction contracts

Saudi Arabia has announced plans to construct nine buildings and various centers for Islamic organizations across the Kingdom at an estimated cost of SR35 million ($9.32 million), said a report.

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Retail & Wholesale

YotaPhone 2 price reduced

Yota Devices has announced a reduction in the price of its YotaPhone 2, the world’s first "two-fronts" smartphone with the Always-On Display feature.

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Energy, Oil & Gas

Iran to finalise new oil contracts model in weeks

Iran expects to finalise the wording for a new model for international oil contracts in the next three weeks, the oil minister said on Monday, as Tehran seeks to boost recovery from its fields with the help of foreign companies.

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Finance & Capital Market

EIIB-Rasmala sets $125m target for new fund

EIIB-Rasmala, a leading asset management and financing group, announced the first closing of its Rasmala Leasing Fund 2, with a target of $125 million in capital commitments.

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Analysis, Interviews, Opinions
Industry, Logistics & Shipping

Salalah Mills to invest $19m in new unit

Salalah Mills will be investing RO7.5 million ($19.47 million) towards the development of a new flour mill with a production capacity of 600 tonnes per day to support the rising requirements of the domestic and export markets, a report said.

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Travel, Tourism & Hospitality
IT & Telecommunications

Cyberoam awards MEA region partners at Amsterdam

Cyberoam, a leading provider of network security appliances, has awarded its Middle East and Africa (MEA) region partners for their contribution in marketing, sales and distribution.

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Health & Environment

Nexthink to manage UAE Health Ministry's IT infrastructure

UAE's Ministry of Health has selected Nexthink to manage its information technology (IT) infrastructure more efficiently and meet the strategic directives of the country's leadership.

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Education, HR & Training

Abunayyan launches recruitment portal

Abunayyan Holding, a family-owned Saudi conglomerate, has launched an online portal to attract top talent while also reducing recruitment time by up to 50 per cent.

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