December, 2016

• 26 December

  Saudi post-budget rally stalls

  

    Reuters The Saudi Arabian stock market’s post-budget rally ran out of steam on Monday as the index neared technical resistance, while United Arab Emirates bourses outperformed the region. The Saudi index added 1.5 percent on Sunday in reaction to Riyadh’s modestly expansionary state budget for 2017. But it closed 0.3 percent lower at 7,166 points on Monday in lower ...

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• 26 December

  Is Apple alienating Mac loyalists?

  

    Bloomberg To die-hard fans, Apple Inc.’s Macintosh sometimes seems like an afterthought these days. Mac upgrades, once a frequent ritual, are few and far between. The Mac Pro, Apple’s marquee computer, hasn’t been refreshed since 2013. The affordable and flexible Mac mini was last upgraded in 2014. And when a new machine does roll out, the results are sometimes ...

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• 26 December

  Italian eyewear firm Safilo moves into wearable tech

  

    Relaxnews Italian eyewear company Safilo has announced they are teaming up with Interaxon Inc. to create the first ever brain sensing eyewear, SafiloX. A world leader in sparse EEG (electroencephalography) brain sensing technology, Canadian firm Interaxon is known for its signature product, the Muse headband. A sensory headband that helps the wearer to relax and reduce stress through meditation, ...

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• 26 December

  Super Mario Run no longer highest grossing app

  

    Bloomberg The initial excitement surrounding Nintendo Co.’s debut mobile game, Super Mario Run, appears to wearing off. The title, released on Dec. 15 for Apple Inc. devices, was no longer the highest-grossing iOS app in any country as of Dec. 24, according to the latest data available from researcher App Annie. A week earlier, it was the most profitable ...

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• 26 December

  LG’s mass-tier smartphone series to be unveiled at CES

  

    Emirates Business LG Electronics (LG) will unveil four new mass-tier K Series smartphones and a new Stylus 3 at CES® 2017 in Las Vegas, as the mid-range segment continues its strong growth as the market matures. The new mid-range devices are designed to bring popular, best-in-class technologies from LG’s more premium flagship smartphones, such as the 120-degree wide angle ...

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• 25 December

  Money Supply aggregate hits AED472.6bn: Central Bank

  

    ABU DHABI / WAM The Central Bank announced that the Money Supply aggregate M1 increased by 0.04%, from AED472.4 billion at the end of October 2016 to AED472.6 billion at the end of November 2016. In its statement, the bank announced that the Money Supply aggregate M2 increased by 0.8%, from AED1203.3 billion at the end of October 2016 ...

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• 25 December

  ADFD contributes AED2.7bn for development initiatives

  

    ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD), ranked second in UAE foreign aid contributions, according to the report titled ‘UAE’s Foreign Aid in 2015’ by the Ministry of Foreign Affairs and International Cooperation (MoFAIC). ADFD’s expenditure amounts to AED2.70 billion (US$736.73 million), whereas government aid, ranked first with 86.1% market share of total aid spent; AED27.84 ...

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• 25 December

  EDB OKs AED1.5bn to finance housing loans for Emiratis

    Dubai / WAM The Emirates Development Bank (EDB) approved an estimated budget of AED1.5 billion for 2017 to finance housing loans for Emirati citizens and to help establish small and medium enterprises (SMEs). The decision was taken during the EDB’s 10th board meeting in Abu Dhabi on Sunday. The budget allocates AED750 million for housing loans for Emirati citizens ...

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• 25 December

  ‘Year of Giving new milestone for charity and nationalism’

    ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, said that the announcement of President HH Sheikh Khalifa bin Zayed Al Nahyan, naming 2017 as the official ‘Year of Giving’ presents joyful tidings for the UAE and its people. Al Mansouri said, “It ushers in a new year that is set to establish new milestones in ...

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• 25 December

  Al Habtoor signs agreement to help develop Dubai SMEs

    DUBAI / WAM Mohammed bin Rashid Establishment for Small and Medium Enterprises and the Al Habtoor Group have signed a Memorandum of Understanding. The MoU constitutes an understanding of collaboration between Al Habtoor Group and Mohammed bin Rashid Establishment for SME Development where the Al Habtoor Group will give priority business to members of Dubai SME proving they can ...

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