August, 2016

• 23 August

  Chinese beauty app warns of fickle selfie-fans before IPO

  

    Bloomberg The imminent Hong Kong debut of Meitu Inc., whose main claim to fame is selfie touch-up apps, offers investors a rare chance to get in near the ground level of China’s nascent, booming smartphone economy. Meitu banked on China’s growing pre-occupation with ideals of comeliness, a passion that’s inspired countless internet memes and a surge in cosmetic surgery. …

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• 23 August

  Russia plays Pokemon Go sans ‘Pokemon’

  

    Moscow / AFP A compass on the smartphone screen points towards Red Square. As the distance to the target narrows, the camera app pops up and zooms in on a bearded figure in a fur cloak. The routine is familiar to Pokemon hunters obsessed with the ultra-popular Pokemon Go game — but this is no Pokemon. Instead, it is …

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• 23 August

  Design-driven furniture for your workplace

  

    Dubai / Emirates Business Modern office environments are often in a state of flux, with workers needing spaces to meet on short notice. These informal gathering places should be inspiring, comfortable and hardworking—a way for mobile workers to socialize and collaborate without monopolizing real estate. Coalesse, a premium furniture brand by Steelcase, is supporting this need by developing insight-led, …

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• 22 August

  Energy investments in MENA to reach $900bn

  

    DUBAI / WAM A new report from Arab Petroleum Investments Corporation (APICORP), owned by Organisation of Arab Petroleum Exporting Countries (OAPEC) says that the total committed and planned energy investments in the MENA region could reach US$ 900 billion over the next five years. The report reveals that planned MENA investments in the energy sector are estimated at US$ 11 …

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• 22 August

  ZOOM plans 150% growth in UAE

  DUBAI / Emirates Business ENOC Retail, Emirates National Oil Company’s retail business segment, announced ambitious growth plans of 150 per cent for its ZOOM stores network in the UAE by 2025 to cater to increasing customer demand and population growth. The company also aims to triple its turnover in the next 15 years. ZOOM’s growth plans include the opening of …

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• 22 August

  Empower’s mobile chiller trailers

  DUBAI / WAM Emirates Central Cooling Systems Corporation, Empower, has launched mobile chiller trailers to ensure 24/7 uninterrupted district cooling service for the company’s customers. Ahmad bin Shafar, CEO of Empower, said, “This innovative project is part of our relentless efforts to continuously enhance our customer service principles and standards.

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• 22 August

  DED appreciates ‘Sugar Factory’

  DUBAI / Emirates Business The Department of Economic Development (DED) presented a certificate of appreciation to ‘Sugar Factory,’ the newly opened celebrity favourite American Brasserie in Dubai in honour of the unique concept being brought to the city under franchise by Tablez Food Company, the F&B division of leading retailer Lulu International Group. The certificate was handed over during a …

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• 22 August

  Nakheel repays $1.2bn bond, ending debt saga

    Bloomberg Nakheel PJSC, the developer of Dubai’s palm-shaped islands, repaid an Islamic bond, bringing an end to a debt restructuring saga that pushed the emirate to the brink of default in 2009. The Dubai government-owned company transferred funds to agent Deutsche Bank AG yesterday to cover a 4.4 billion-dirham ($1.2 billion) sukuk maturing this month, Chairman Ali Rashid Lootah …

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• 22 August

  Senaat posts 6% hike in net profit

    Abu Dhabi / WAM Senaat, a leading industrial investment holding company in the UAE, has announced a 6 percent increase in net profit and 2 percent increase in EBITDA for the first half of this year despite a challenging business environment, compared to the second half of 2015. After a challenging 2015, the group’s EBITDA remained steady at AED946 million …

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• 22 August

  ‘Cyber Security Centre’ launched in UAE

    Dubai / WAM Smartworld and The Kernel have announced the launch of UAE’s first-of-its-kind ‘Cyber Security Centre’, which will train UAE nationals in cyber security and provide round-the-clock advanced security monitoring along with cyber threat management to companies across the government and private sector in the UAE. A strategic partnership for setting up the centre was signed between the two …

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