Wednesday 2 September 2015

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BAD LOANS WEIGH
Oil price slump to start affecting Saudi banks

The impact of lower oil prices will soon start to weigh on Saudi Arabia's banks, which are likely to see bad loans edge higher by the end of the year, according to Standard & Poor's.

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1

START-UP DATE UNCLEAR
Saudi Khurais oilfield expansion delayed

The expansion of Saudi Arabia's Khurais oilfield is expected to be delayed from the originally planned time-frame of 2017 and the start-up date is now unclear, industry sources said.

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2

12.9pc GROWTH IN 7 MONTHS
Dubai Airport welcomes 6.6m passengers in July

Dubai International Airport saw passenger numbers climb up to 6.68 million In July this year, up 29.6 per cent from a temporary dip in the same month last year when traffic numbers were affected by a runway refurbishment programme.

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3

SPECIAL REPORT
Web address boom ‘bonanza for cyber-criminals’

An explosion in the number of new Internet addresses has created a wealth of opportunities for criminals exploiting shady domains such as .zip, .kim or .party, according to an industry study published on Tuesday.

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4

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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5

NEWS IN PICTURES
Vietnam might

Vietnamese army sappers march during a parade marking the 70th anniversary of National Day at a street in Hanoi, Vietnam on September 2. The parade involved both people's armed forces and civilians, according to media reports.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Oman to award $44bn infrastructure contracts

Oman is set to award tenders and contracts worth RO17 billion ($44 billion) for several major infrastructure projects across the country during a two-day business summit in November.

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Energy, Oil & Gas

Saudi Khurais oilfield expansion delayed

The expansion of Saudi Arabia's Khurais oilfield is expected to be delayed from the originally planned time-frame of 2017 and the start-up date is now unclear, industry sources said.

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Finance & Capital Market

UAE growth seen at 3.9pc this year

The UAE’s GDP growth this year is expected to reach 3.9 per cent thanks to more established diversification efforts, while many Middle East states will see lower growth caused by the plunging oil price, according to a study.

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Analysis, Interviews, Opinions

Oil price seen at $55 next year

With oil stock balances next year looking softer and costs coming down, the commodity will trade at $55 and $61 per barrel during 2016 and 2017, respectively, said the Bank of America (BofA) Merrill Lynch in a report.

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Industry, Logistics & Shipping

GCC’s manufacturing sector to grow at 4.32pc

The manufacturing sector in GCC is expected to grow at a compound annual growth rate (CAGR) of 4.32 per cent over the next five years, according to a new analysis from Mordor Intelligence.

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Travel, Tourism & Hospitality

Dubai Airport welcomes 6.6m passengers in July

Dubai International Airport saw passenger numbers climb up to 6.68 million In July this year, up 29.6 per cent from a temporary dip in the same month last year when traffic numbers were affected by a runway refurbishment programme.

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IT & Telecommunications

Mena mobile data traffic to grow 14 times

Mobile data traffic in the Middle East and North East Africa (Mena) region is expected to grow 14 times between 2014 and 2020, while globally data will expand nine times, according to the Ericsson Mobility Report.

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Lifestyle

Lexus unveils new ES 2016 in Bahrain

Lexus Bahrain has unveiled the new 2016 ES at its showroom today (August 29).

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Health & Environment

Medeor to open new neuropsychiatry unit

Medeor 24x7 Hospital Abu Dhabi, a multi-specialty family hospital in the UAE capital, plans to build a neuropsychiatry department in a bid to tackle the growing mental health challenges in the Emirate.

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Media & Promotion
Education, HR & Training

Bapco launches key jobs training project

Bahrain Petroleum Company has announced it is embarking on a major training project towards developing a world-class workforce for a $5 billion refinery expansion and upgrade.

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Miscellaneous

Bahrain delays plan to cut meat subsidy

Plans to scrap meat subsidies have been postponed for another month in Bahrain as MPs and the government continue to review the effect that the move will have on citizens.

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