January, 2017

• 9 January

  Egypt corrects, Saudi extends losses and UAE outperforms

  

    DUBAI / Reuters Egypt’s main stock index corrected on Monday as local traders booked profits and Gulf markets diverged with United Arab Emirates markets outperforming as traders focused on financial shares while a retreat in oil prices weighed on Saudi Arabian petrochemical producers. Cairo’s main index fell 0.9 percent, snapping four straight sessions of gains. Local institutions were net ...

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• 9 January

  US stocks retreat, treasuries advance with gold

    Bloomberg Stocks slumped while Treasuries rose with gold as the new year rally in riskier assets faltered. Political risks rippled across foreign-exchange markets with the pound, Turkish lira and South Korean won leading declines. The Dow Jones Industrial Average declined after Friday climbing within a point of 20,000. The yield on 10-year Treasury notes slid below 2.40 percent, while ...

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• 9 January

  Dubai Municipality ushers in New Year with AED 7bn service projects

  

    Dubai / WAM Hussain Nasser Lootah, Director-General of Dubai Municipality, has revealed that the municipality has allocated AED7 billion in this year’s budget for executing infrastructure development and new large-sized high-priority projects and services in the field of health and environment. “The lion’s share of the volume of expenditure in the budget will be received by the storm water tunnel ...

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• 9 January

  SteelFab 2017 to attract 317 global exhibitors

    Sharjah / WAM Expo Centre Sharjah announced that the number of exhibitors participating in the 13th SteelFab Middle East 2017 Exhibition, the leading annual event in the steel and iron industry, has surpassed 317 coming from 28 countries. SteelFab 2017 is organised and hosted by Expo Centre Sharjah with the support of Sharjah Chamber of Commerce and Industry (SCCI). The ...

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• 9 January

  Expo 2020 Dubai to unveil ‘greener world strategy’

  

    Dubai / WAM Expo 2020 Dubai will unveil details about its strategy for a cleaner, greener world and its centrepiece Sustainability Pavilion at the forthcoming Abu Dhabi Sustainability Week (ADSW). The fifth annual ADSW, running from January 12-21, also hosts the World Future Energy Summit, and will focus on identifying and discussing solutions to the world’s energy and sustainability ...

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• 9 January

  Etihad’s hub put us on global market

  

    Roy Kinnear was appointed as Chief Executive Officer of Air Seychelles on July 1, 2015. Kinnear joins Air Seychelles from strategic partner Etihad Airways, where he held the position of Senior Vice President, Revenue Management and Planning, and was responsible for leading the airline’s revenue management, inventory control, pricing, and revenue forecasting. Having gained an honours degree in Economics ...

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• 9 January

  McDonald’s sells China stake to Citic, Carlyle for $2.8 billion

  

    Bloomberg McDonald’s Corp. agreed to sell a controlling stake in its China and Hong Kong operations to a group of financial investors in the latest effort by the world’s largest fast-food chain to catch up with Western rivals by opening new stores in smaller Chinese cities. A consortium including Citic Ltd. and Carlyle Group LP will buy an 80 ...

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• 9 January

  Barnes & Noble sales sink first time in 3 years

    Bloomberg Barnes & Noble Inc. posted its first decline in holiday sales in three years, hurt by a downturn in the coloring-book category, bringing another sign that the Christmas season wasn’t kind to retailers. Same-store sales sank 9.1 percent for the nine-week holiday period, the New York-based company said. Coloring books and other art supplies — products that had ...

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• 9 January

  DCCI adds 16,800 companies to its member network in 2016

  

    DUBAI / WAM Dubai Chamber of Commerce and Industry (DCCI) saw its network of members grow by 9 percent or 16,800 companies in 2016, bringing the organisation’s total membership to 201,000 by the end of the year. The rise in number strengthens its position as one of the largest membership-based chambers of commerce in the world. The total value ...

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• 9 January

  Imdaad generates record AED500mn revenue in 2016

  

    Dubai / WAM Integrated facilities management (FM) company, Imdaad, has generated a revenue of $136m (AED500m) in 2016, registering a growth of eight to 10 per cent compared to the previous year. The Dubai-based company also signed a few major contracts with leading companies in the last quarter of 2016, enabling it to generate more business than the previous fiscal ...

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