Friday 29 April 2016
 
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Rising oil prices throw lifeline to shale producers

Brent prices for 2017 ended trading above $50 per barrel on Wednesday for the first time since mid-December following the largest and most sustained rally in prices since the oil slump started. The average for the 12 futures contracts expiring in 2017, called the calendar strip,

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Mideast funds reduce cash as markets find floors

Middle East fund managers are reducing their cash holdings and building back long positions in equities and fixed income because of signs that markets have bottomed out, a monthly Reuters poll shows. During the previous six months, many managers retreated into cash because of sli

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Is death reversible?

We are repeatedly told through the medical establishment that brain death is “irreversible” and should be considered the end of the line. Or is it? Two biosciences companies are studying a clinical intervention in the state of death. Bioquark, a company focused on the

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Smartphone market shrank for first time in Q1

Global shipments of smartphones shrank 3 per cent in the first quarter from a year earlier in the market's first year-on-year contraction on record, researcher Strategy Analytics said on Thursday, reflecting growing strains on the industry. Strategy Analytics said in a statem

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Qatar’s 2016 budget shelters capex spending

Qatar’s budget appears to be attempting to protect capex expenditures while rationalizing current spending, a report said, highlighting that the 2016 budget pencils in a deficit of $12.7 billion based on oil prices of $48 per barrel. Qatar’s budget appears to be attem

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Govt regulations, human capital back Bahrain growth

Bahrain continues to benefit from favourable supply-side factors: supportive human capital, mature regulatory environment and cost-competitiveness versus regional financial centres, as well as connectivity to Saudi Arabia, a report said. The main weakness on the macro side remain

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Saudi Vision 2030 - Comprehensive package of reforms

The unprecedented reform effort announced by Saudi Deputy Crown Prince Mohammed Bin Salman would set the stage for the kingdom to emerge as a major economic powerhouse, with lower dependence on oil, says an Al Rajhi Capital report. The report entitled “Saudi Vision 2030 - C

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GCC banking sector seeing new challenges

The regional banking sector has entered a new paradigm where we see margin compression, tightening liquidity, moderate asset and profit growth, limited capital market activity, greater focus on cost reduction, a report said. However, banks have on the whole fared well during 2015

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Saudi reforms 'can make economy more dynamic'

A sweeping economic reform plan announced by Saudi Arabia on Monday pleased the financial markets and many analysts who felt the changes will make the economy more dynamic. Deputy Crown Prince Mohammed bin Salman promised to invest Saudi petrodollars more aggressively, sell stake

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SWIFT says aware of multiple cyber fraud cases

SWIFT, the global financial network that banks use to transfer billions of dollars every day, has warned its customers that it was aware of "a number of recent cyber incidents" where attackers had sent fraudulent messages over its system. The disclosure came as law enfo

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