August, 2016

• 22 August

  Cleaning sector goes green

  

    ABU DHABI / Emirates Business Continuous improvement, innovation, and environmental sensitivity have become the watchwords for the cleaning industry in the region as more and more companies in the sector are sourcing products and equipment keeping sustainability in mind. Globally, the market for green cleaning products is expected to reach US$51 billion in value terms with a CAGR of ...

  Read More »
• 22 August

  New classification for Ajman desert camps

  

    Ajman / Emirates Business The Ajman Tourism Development Department (ATDD) announced the launch of two classification programs for desert camps and tourism villages, the first of its kind in the United Arab Emirates. Desert camps are divided into two types which are day use and overnight but will fall under one category while tourism villages will have different categories ...

  Read More »
• 22 August

  Social media influencers gain ground in UAE

  

    Abu Dhabi / Emirates Business The growing power of social media influencers and bloggers has been borne out by new research from Dubai-based PR agency BPG Cohn & Wolfe that shows that 71 per cent of UAE residents aged 18-40 are happy to take advice online before purchasing. Beauty, fashion and food are the areas where residents are most ...

  Read More »
• 22 August

  Zoom stores plan 150pc growth in the UAE by 2025

  

    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 ...

  Read More »
• 22 August

  Crude ends longest gain in 4 years on Iraq supply outlook

  

    Bloomberg Oil fell after the longest run of gains in four years as Iraq sought to increase exports amid a global oversupply and Nigerian militants called an end to hostilities. Futures dropped as much as 2 percent in New York after climbing 16 percent the previous seven sessions. Iraq will boost crude shipments by about 5 percent in the ...

  Read More »
• 22 August

  Kuwait to spend KD 1.71 bn on biofuel project

    WAM CEO of Kuwait National Petroleum Company (KNPC) Mohammed Ghazi Al-Mutairi announced that a collective KD1.71 billion has been spent on a bio- fuel project, which was locally and internationally financed. In an interview with Al-Rai, carried by state news agency, KUNA, on Sunday, Al-Mutairi said that the funding was possible through loans from local banks which is given ...

  Read More »
• 22 August

  Iran to loosen its grip on the rial

  

    Bloomberg Iran’s central bank is signaling that it will loosen its grip on the rial in an effort to end a dual-exchange rate system seen as an obstacle deterring foreign investment needed to rebuild the economy. Policy makers, in a decision reported earlier this month, allowed commercial lenders to buy foreign currencies using rial rates set by the market ...

  Read More »
• 22 August

  Bahrain’s GFH in talks to buy majority stake in Bank Alkhair

    Bloomberg Bahrain’s GFH Financial Group is in talks to buy a majority stake in Islamic lender Bank Alkhair. GFH has signed a memorandum of understanding for the potential acquisition, which is subject to board and shareholder approval, completion of due diligence, agreement on an acquisition structure and regulatory approvals, according to a statement Monday to the Dubai stock market. ...

  Read More »
• 22 August

  ‘Well-timed’ OPEC talk forces oil bears into record reversal

  

    Bloomberg OPEC has done it again. Talk of a potential deal to freeze output helped push oil close to $50 a barrel and prompted money managers to cut bets on falling prices by the most ever. West Texas Intermediate, the U.S. benchmark, went from a bear to a bull market in less than three weeks. OPEC is on course ...

  Read More »
• 22 August

  Go ahead and publish terrorists’ names and faces

  

    Major media outlets in France have recently decided not to publish the names and faces of terrorists so as not to glorify them and encourage copycats. On the surface, this might seem like reasonable self-imposed discretion in the interests of national security. But it’s actually self-censorship — and it’s dangerous. It reflects a subtly mistaken conception of why extremists ...

  Read More »