March, 2016

• 10 March

  Golden era of Norway’s oil end as prices sag

  

  DPA Since the 1970s, Norwegian crude oil has flowed to the market seemingly without let-up, and along with it, vast sums for the state’s coffers. The natural resources sector accounts for around a fifth of Norwegian economic output, with more than 200,000 jobs dependent on it in a population of just 5.2 million. The outlook has changed radically since the ...

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• 10 March

  Japan pushes for robots to brave Fukushima

  

  Bloomberg Japan is spending more than $1 billion to relaunch the area around the wrecked Fukushima Dai-Ichi nuclear plant as the country’s “Innovation Coast.” The region is trying to capitalize on technology developed in the five years spent cleaning up the worst nuclear disaster since Chernobyl, including Hitachi Ltd. and Toshiba Corp. robots that slither like snakes or cruise through ...

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• 10 March

  Etihad airways, taste festivals announce global partnership

  

  Emirates Business UAE’s national airline Etihad Airways will showcases its commitment to providing unmatched culinary experiences in the air and on ground, announcing a multi-year partnership with Taste Festivals Ltd — organisers of the world’s leading restaurant events since 2004. The airline, along with many of its Etihad Airways Partners, will have a presence at 15 Taste festivals scheduled in ...

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• 10 March

  Companies should pay heed to latest development in inheritance court orders

  

  Emirates Business Inheritance could be tedious process and knowledge of laws related to it is of utmost importance. In a bid to make this process easier for UAE companies by helping them to take note of recent developments, Trench & Associates (T&A), well-established Dubai legal consultants, is advising firms on in the inheritance laws. Changes in the inheritance process were ...

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• 10 March

  E-payment boosts UAE GDP by 0.23%

  RITIKA SHARMA / EMIRATES BUSINESS UAE recorded a 0.23% increase in GDP due to increased card usage between 2011-2015, says an international study. The study states that increased electronic payment usage added US$3,700,000,000 to the UAE’s GDP during the mentioned period and that like the other notable markets, UAE experienced over a 6 percentage point increase in card usage. The ...

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• 10 March

  ME market fuelling business jet industry

  

  RITIKA SHARMA / EMIRATES BUSINESS The Middle East market has played an important role in the recent global executive aviation development. According to Embraer Executive Jets market analyses, the Middle East has a younger business jet fleet than the world’s average. The region holds a business jet fleet of 400 unit aircraft where Saudi Arabia and UAE account for more ...

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• 10 March

  BMW website gets a revamp

  EMIRATES BUSINESS The BMW Group has revised its websites, offering its customers a wide range of comprehensive and international services. The initiative was taken keeping into consideration the growing demand of digitalisation and future-oriented online communication. The website features new content, innovative technology and a new digital corporate design. The use of large-format graphics, sliders in gallery format and a ...

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• 10 March

  Tradition meets modernity at Mother of the Nation Festival

  

  Abu Dhabi / Emirates Business A traditional heritage-inspired boutique Souq Zone, modelled on the old port markets of Abu Dhabi, is set to reflect the cultural richness and openness the UAE at the first-ever Mother of the Nation Festival. Organised by Abu Dhabi Tourism & Culture Authority and being held along the Abu Dhabi Corniche Beach from March 24 to ...

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• 10 March

  Singapore firm selected for Egypt water and power project

  

  Bloomberg Singapore-based Hyflux has been selected to build the Ain Sokhna integrated desalination and power project in Egypt. Hyflux has received a letter of intent from the General Authority for the Suez Canal Economic Zone (SCZone) for a $500m EPC contract for the plant, which will have a desalinated water production capacity of 150,000 cubic metres a day (cm/d). The ...

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• 10 March

  KNPC moves ahead with $10bn loan

  

  Bloomberg The Kuwait National Petroleum Company (KNPC) is pushing ahead with a KD3bn ($9.98bn) loan, according to local banking sources. The mandated lead arrangers have been appointed for the Kuwaiti dinar, Islamic and dollar tranches of the commercial loan. They will work on the loan syndication in the first half, with the size of the tranches depending on appetite. The ...

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