August, 2016

• 9 August

  China auto sales go up

  

    TOKYO / AP China’s passenger-vehicle sales accelerated the most in 17 months, as General Motors Co. and Guangzhou Automobile Group Co. boosted deliveries and dealers offering discounts helped clear inventories in the world’s biggest auto market. Retail sales of cars, sport utility and multipurpose vehicles climbed 23 percent to 1.6 million units in July, the biggest monthly percentage gain ...

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• 9 August

  McDonald’s Japan ends ‘streak of losses’ with Q2 profit

  

    Bloomberg McDonald’s Holdings Co. Japan posted a profit in the second quarter, ending a streak of seven consecutive losses by attracting more customers with promotional menus as it sought to rebuild its image after a series of food scandals. Net income was 300 million yen ($2.9 million) in the three months ended June, based on first-half results the company ...

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• 9 August

  Ajman earns AED200m in tourism revenues in H1

  

    Ajman / Emirates Business The Ajman Tourism Development Department (ATDD) announced that the emirate earned AED200 million in tourism revenues from a total of 272,021 visitors in the first half of 2016. Tourism revenues from April to June 2016 reached AED92 million, 11 percent higher compared to the same period in 2015. Total guests for the period are 129,617 ...

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• 9 August

  Ayla delivers ‘island apartments’ to new owners

  

    Dubai / Emirates Business Ayla Oasis Development Company (Ayla), one of the largest tourism and real estate development companies in Jordan and master developer of the Ayla project in Aqaba, announced on Tuesday the hand-over of the first phase of the Island Apartments, located within the Marina district, to their owners. The apartments are situated at the heart of ...

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• 9 August

  du UAE 5G Innovation Gate to boost IoT systems

  

    Dubai / Emirates Business UAE-based telecommunications service provider – du, announced the establishment of UAE 5G Innovation Gate (U5GIG). The U5GIG has been envisioned to be a consortium of technical and academic organisations in UAE as well as global telecom vendors to plan and use their expertise to define and develop a global 5G network that will radically change ...

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• 9 August

  dubizzle reveals property sale, and rental price trends

  

    Dubai / Emirates Business dubizzle – the UAE’s leading classifieds property platform – released its Q2 2016 property report, revealing a mild decline in rental prices and a bottoming out of property sale prices in Dubai, as well as a decline in Abu Dhabi prices, compared to Q1 2016. With over 5 million monthly active users, and more than ...

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• 9 August

  Egypt proposing 18-month reform program to IMF

  

    AP Three Egyptian dailies said that Cairo was proposing to IMF delegates an 18-month reform program in return for a $12 billion loan over three years to shore up its economy, but that differences remained between the two sides on how to proceed. The reports by the privately-owned Al-Shorouk, Al-Masry Al-Youm and Al-Watan said the two sides were at ...

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• 9 August

  OPEC still faces same obstacles to agree on oil-output limit

  

    AP An informal OPEC meeting next month is unlikely to deliver any agreement to limit production because several members including Iran are still pumping below capacity. Members of the Organization of Petroleum Exporting Countries are planning to hold talks in Algeria next month when they gather for a meeting of the International Energy Forum, the group’s president Mohammed Al ...

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• 9 August

  Iran set to lose oil market share in India as Rosneft elbows in

  

    Bloomberg Iran’s biggest oil buyer in India is ready to throttle back imports from the Persian Gulf nation once a new supply deal kicks in. Essar Oil Ltd. expects to lower purchases from Iran after shipments from OAO Rosneft begin once the Russian state producer completes a deal to buy a stake in the Indian company, according to Lalit ...

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• 9 August

  Oil sector’s ‘hottest zip codes’ see bidding soar on SM deal

  

    Bloomberg SM Energy Co.’s $980 million purchase of drilling rights in the biggest U.S. crude field indicates producers are willing to pay a premium for access to one of the few spots where oil exploration still turns a profit. SM, which extracts oil and natural gas from the Rocky Mountains to the Gulf Coast, agreed to pay the equivalent ...

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