Sunday 26 June 2016
 
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Enec, Nawah move into new Masdar City HQ

The Emirates Nuclear Energy Corporation (Enec) and its operating subsidiary, Nawah Energy Company (Nawah), have both moved into their new headquarters at Masdar City in Abu Dhabi. The move to Masdar City has a clear synergy for Enec’s mission and vision to deliver safe, cle

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Midea Group to buy key stake in Italian AC firm

Midea Group Company, China’s biggest appliance manufacturer, signed an agreement to buy an 80 per cent stake in Clivet SpA, an Italian maker of air conditioners. The deal is expected to be completed by the end of the year, pending anti-monopoly reviews, reported Bloombe

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Saudi non-oil GDP growth to slow to 2.8pc

Growth in Saudi Arabia's non-oil gross domestic product is expected to slow to 2.8 per cent this year from 3.4 per cent in 2015, Saudi central bank governor Ahmed Al Kholifey told state television station Ekhbariya. Kholifey, speaking in an interview broadcast late on Saturda

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India clears deal to buy 145 BAE artillery guns

India's defence procurement agency has cleared a proposal to buy 145 M777 Ultra Lightweight Howitzer artillery guns from BAE Systems in a deal worth an estimated $750 million, a defence ministry source said on Saturday. Under the deal, 120 of the 145 guns will be assembled in

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Saudi, UAE see no big financial impact from Brexit

Major Gulf economies Saudi Arabia and the UAE said on Saturday that they did not anticipate their financial institutions to be greatly affected as a result of Britain's vote to exit the European Union. Saudi Arabia, the world's largest oil exporter and Opec heavyweight, s

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Dubai retailers gear up for solid Ramadan sales

Despite slower growth projections for the first half, retailers across Dubai are witnessing steady spend during Ramadan, primarily driven by residents and international visitors, including those from across the GCC proximity markets. Overall, close to 1 million international visi

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Bahrain set for debut chocolate & coffee show

There has been an overwhelming response from the chocolate and coffee manufacturers and the dealers from the Middle east region for the inaugural “Chocolate & coffee” exhibition and festival to be held in Bahrain from  September 1 to 3, said the organiser Events Staarts.

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Lulu opens new hypermarket in Malaysia

UAE-based retail major Lulu Group has opened its first hypermarket in Kuala Lumpur, Malaysia, as part of its plans to further consolidate its retail presence in the Far Eastern region. The 250,000 sq ft hypermarket was inaugurated by the Malaysian Prime Minister Datuk Sri Najib T

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US multinational 3m gets Saudi trading licence

US-based multinational company 3M, a leader in developing innovative solutions, has been granted a trading licence by the Saudi Arabian government. With this approval, the global, science-based company has become one of only three companies to be granted 100 per cent ownership an

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Raytheon wins $523m Kuwait defence contract

Raytheon Company, a US-based technology and innovation leader, has won a $523 million contract from the US Army for the upgradation of Kuwait's Patriot Air and Missile Defence Systems. With this upgradation, Kuwait will be able to better protect its cities and key infrastruct

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