Thursday 27 November 2014

0

POLICY CHANGE UNLIKELY
UAE may create body to monitor FX peg

An advisory body to the UAE government has suggested that the central bank review the country's currency peg to the US dollar, but local bankers said any change to the peg remained very unlikely for the foreseeable future.

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1

GREAT DECISION: Al-NAIMI
Opec leaves output unchanged; oil down $3

Brent crude oil fell more than $3 to a fresh four-year low under $75 a barrel on Thursday after Opec decided not to cut production, despite a huge oversupply in world markets.

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2

FINANCIAL MARKETS SHAKEN
Weak oil depresses assets in Russia, Middle East

Oil's lurch to a new four-year low on Thursday sent growing tremors through the financial markets of Russia and energy-reliant economies in the Middle East.

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3

TECHNOLOGY
Internet-connected device sector deals accelerating

Investment in the fast-growing market for Internet-connected devices gathered pace this year and is set to attract more top US technology and telecoms buyers of firms active in the market, a report from a merger advisory firm said on Thursday.

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4

SPECIAL REPORT
Fat to blame for half a million cancers a year: WHO

Some half a million cases of cancer a year are due to people being overweight or obese, the World Health Organization's cancer research agency said on Wednesday.

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5

IMAGE OF THE DAY
Ice art

A sculptor carves an ice sculpture at the Disney Dreams Ice Festival in Antwerp, Belgium on November 27. Some 60 artists from all over the world participated in the festival, making sculptures out of around 500 tonnes of ice.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Saudi Arabia spending $30bn on ports infrastructure

Saudi Arabia is experiencing exponential growth in its ports and shipping sectors with infrastructure projects planned and currently in progress totalling more than $30 billion.

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Retail & Wholesale

Souq.com unveils ‘White Friday’ deals

Souq.com, a leading online retailer in the Middle East, has released a sneak peak of deals for ‘Black Friday’, now coined ‘White Friday’ by the retailers.

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Energy, Oil & Gas
Finance & Capital Market

Qatar, UAE top global ranking for paying taxes

Qatar and UAE share an equal first place in a global ranking for the total tax rate, the number of payments and the time taken to comply, a report said.

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Analysis, Interviews, Opinions
Industry, Logistics & Shipping

Jafza’s steel firms record 20pc growth

The steel companies in the Jebel Ali Free Zone (Jafza) recorded a 20 per cent growth last year, more than the rate of the industry growth in the UAE, according to a report.

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IT & Telecommunications

Du, Microsoft in deal to provide Office 365 to SMBs

UAE-based telecommunication operator du and Microsoft have signed a new partnership to provide small and medium-sized business in the UAE with the new Office 365 offering.

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Lifestyle

Bentley unveils the new Grand Convertible

Bentley, a leading British luxury automaker, recently unveiled the Bentley Grand Convertible, the most sophisticated open-top car created by Bentley, at a Los Angeles Auto Show, US.

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Motoring

Al-Futtaim-led raids seize $9m fake auto parts

Al-Futtaim Motors, in partnership with several law entities of the UAE, conducted over 97 raids in the first nine months of this year, resulting in the confiscation of over Dh34.2 million ($9.3 million) worth of counterfeit car parts.

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Health & Environment

First gene therapy drug sets record $1.4m price

The Western world's first gene therapy drug is set to go on sale in Germany with a 1.1 million euro ($1.4 million) price tag, a new record for a medicine to treat a rare disease.

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Media & Promotion

Workz completes $1m upgrade of Dubai facility

Workz, a secure printing and supply chain services provider, has completed its $1 million upgrade of its Dubai scratch card printing facility, allowing it to increase running speeds by 30 per cent.

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Education, HR & Training

Saudi shows the way home to runaway expats

Hundreds of expatriates classified as runaways in Saudi Arabia may now avoid jail and go back to their countries, benefiting from a recent concession announced by the government, a report said.

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