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Bahrain planning $20 billion push (Gulf Daily News - 07/10/2015)

Bahrain will make investments of more than $20 billion over the coming years in large scale industrial and infrastructure projects, the GCC development fund, as well as government and private sector investment, a top official has said. Economic

Ooredoo trains young mobile application developers (AME Info - 07/10/2015)

Ooredoo Kuwait, a member of the international Ooredoo Group, announced that training of participants in the Arab Mobile App Challenge is underway, with more than 40 participants. The acceleration program will include workshops and lectures aiming at

Dubai Holding records 24 per cent increase in net profit of AED 2.6 bi (AME Info - 07/10/2015)

Mohammad Abdulla Al Gergawi, Chairman of Dubai Holding announced the financial results of its business group, Dubai Holding Commercial Operations Group (‘DHCOG’), for the first half of this year ending 30th June 2015. DHCOG continued to see good

Egypt’s exports plummet $3 billion in 8 months (AME Info - 07/10/2015)

Egypt’s exports sank by 18.7 per cent or $3.1 billion in the first eight months of the current year, according to official statistics. The country’s exports from January to August totalled $12.5bn, down from $15.4bn in the same period last year,

Marine farm venture in Oman yields promising results (Oman Daily Observer - 07/10/2015)

A pair of pilot marine farms set up along the Sea of Oman coast has begun to yield extraordinary results that promise to impart new impetus to the government’s goal of developing and sustaining the nation’s hugely important fisheries sector. Thriving

Stage set for Sultan Qaboos Industrial excellence award (Times of Oman - 07/10/2015)

Dr Ali Massoud Al Sunaidi, minister of commerce and industry, said that the ministry is proceeding to prepare for ‘Sultan Qaboos Industrial excellence award’, which is the new name for His Majesty’s Competition for the Best Five Factories. Dr Ali Massoud

BP Oman, Sharakah sign deal to boost capabilities of SMEs (Times of Oman - 07/10/2015)

As a continuation of last year’s successful programme, BP and Sharakah renewed recently the contract to develop and upgrade the skills and capabilities of local SMEs through the “BP SME Development Programme” to be launched in October. The project will

Major Omani firms expected to post fall in profit (Times of Oman - 07/10/2015)

Major Omani firms, which constitute the MSM30 Index, are likely to post a fall in net earnings, but revenues will grow marginally for the first three quarters of this year, as compared to the same period last year. Net earnings of MSM index firms,

QSE outperforms Gulf on realty and insurance (Gulf Times - 07/10/2015)

The Qatar Stock Exchange (QSE) yesterday gained 117 points to inch near the 11,700 mark mainly on the back of strong buying interests of foreign institutions. An across-the-board buying, particularly at the real estate and insurance counters, led the

Saudi Aramco in talks to buy CNPC refinery stake (Gulf Times - 07/10/2015)

Saudi Aramco, the world’s biggest oil producer, is in talks to acquire a stake in a China National Petroleum Corp (CNPC) refinery as well as retail assets, people familiar with the matter said - a deal that would help it sell more of its output to China

Pakistan funds idled by sukuk shortage complain of exodus of investors (Gulf Times - 07/10/2015)

Shariah-compliant funds in Pakistan say the government’s plan to end a year-long hiatus in local sukuk sales is too little, too late to plug a shortage of assets that has put off their investors. The finance ministry will sell rupee-denominated sukuk

QPMC signs affreightment deal with Hyundai Glovis (The Peninsula - 07/10/2015)

Qatar Primary Materials Company (QPMC) has signed a Contract of Affreightment (CoA) with Hyundai Glovis aimed at shipping a bulk amount of 50 million tonnes of aggregates to Qatar; over the coming five years. During a ceremony took place in Hyundai

BlackRock gets Saudi nod to trade local stocks (Trade Arabia - 07/10/2015)

BlackRock, the world's largest asset manager, has been granted regulatory approval by Saudi Arabia to trade local stocks, the company said in a statement on Tuesday. BlackRock "received a qualified foreign investor licence which was obtained in order to

UAE money rates hit multi-year highs as oil revenue dries up (Trade Arabia - 07/10/2015)

Money market rates in the UAE hit their highest levels in roughly two years on Tuesday as low oil prices slashed state oil revenues, leaving banks with less money to lend. The economies of the rich Gulf Arab oil exporters have so far coped well with the

Bahrain's traders warned on price rises (Trade Arabia - 07/10/2015)

Traders in Bahrain have been warned not to exploit the subsidies situation by increasing meat prices. Anyone caught profiteering will face tough penalties, Industry, Commerce and Tourism Minister Zayed Al Zayani vowed yesterday (October 6), said a report

Oppo, Etisalat partner to launch flagship phone (Trade Arabia - 07/10/2015)

Oppo, a top Chinese smartphone brand, is partnering with Etisalat, the UAE's primary telecom provider, in launching its new premium industrial design smartphone, the R7, to the country's consumer market. The new device, Oppo R7 has cutting edge

Qatar's mega shopping mall to cost $1.48bn (Trade Arabia - 07/10/2015)

Mall of Qatar, the country's largest leisure, entertainment and shopping complex, will cost QR5.4 billion ($1.48 billion) and will open by Q3 of 2016, said the project's manager/operator. Poised to become one of the largest shopping destinations in the

Eye on Earth Summit 2015 reinforces UAE's green economy ambition (Emirates 24|7 - 07/10/2015)

The second Eye on Earth Summit was inaugurated yesterday in Abu Dhabi. The three-day summit themed 'Informed Decision-Making for Sustainable Development' casts a spotlight on the role governments, technology, the scientific community and citizen

Kuwait’s long-delayed $7 billion metro system back on track (The National - 07/10/2015)

The long-delayed US$7 billion metro system in Kuwait is back on track, with new advisers appointed and bidding likely to start next year. Fatima Al Kandari, a project manager at the Kuwait Authority for Partnership Projects (Kapp), said the authority was

Sudanese gold output to reach record 80 tonnes this year (The National - 07/10/2015)

Gold production in Sudan is forecast to rise 9.6 per cent to a record 80 tonnes this year as the African country seeks to boost its output of metals and minerals, says its minister of minerals. Gold production reached about 72 tonnes at the end of the

Abraaj raises $191m for Mexico investment (Gulfnews - 07/10/2015)

Private equity firm Abraaj Group has raised $191 million through Mexican publicly traded certificates for investments in the country, it said on Tuesday. Certificates of Development Capital (CKD) will be used to invest in mid-sized Mexican businesses

Dubai Industrial City registers 28% growth in revenue and 59% increa (Gulfnews - 07/10/2015)

Dubai Industrial City (DI), the leading industrial and logistics hub in the GCC has announced its performance review (report) for 2015 reflecting 59% increase in gross profits and 28% growth in revenue compared to the same period in 2014. In addition to

Retail gold prices in Dubai up by 0.18 per cent (Gulfnews - 07/10/2015)

Gold slowly edged its way back up, with retail prices in Dubai posting less than one per cent gain on Tuesday morning, benefiting from weak economic data. Gold analysts are expecting that the sluggish hiring figures in the US, coupled with financial

Cloud solutions are set to transform UAE business (Khaleej Times - 07/10/2015)

The one question that hits everyone before adopting cloud solutions is security. But, there is no need to worry, the executive chairman of Pacific Controls Cloud Services, or PCCS, said. "We are here to inform [everyone] that data sovereignty is supreme

US trade deficit jumps to $48.3 billion in August (The Gulf Today - 07/10/2015)

The US trade deficit jumped sharply in August as exports fell to the lowest level in nearly three years while imports increased, led by a surge in shipments of cellphones from China. The deficit increased 15.6 per cent to $48.3 billion, the biggest

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