July, 2016

• 19 July

  Ajman launches Liwa Date Festival

    Emirates Business Under the patronage of H.H Shaikh Humaid Bin Rashid Al Nuaimi, Member of the Supreme Council and Ruler of Ajman, the Ajman Tourism Development Department (ATDD) announces details of the 2016 Liwa Ajman Date Festival that will run from July 27 to 29 at Emirates Hospitality Centre. The inclusion of citrus fruits in the Mazayna and a ...

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• 19 July

  ADNOC to operate vehicle inspection centres on Fridays

    Dubai / Emirates Business ADNOC Distribution has announced that from August,1 a number of its vehicle inspection centres will operate on Fridays and Saturdays from 9am to 5pm in a bid to meet the dynamic requirements of its customers. Responding to the request of its customers, ADNOC Distribution will operate its vehicle inspection centres in Abu Dhabi (main), Mahawi, ...

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• 19 July

  Summer workshop on life skills for Sharjah Girl Guides

  

    Sharjah / Emirates Business The Sharjah Girl Guides are learning an array of important life skills during a series of workshops taking place this week. Held from July 17-21 and titled ‘Summer of Accomplishments,’ the programme covers topics ranging from self-defense to stage crafts and has been specially devised to imbue the girls with important attributes that will both ...

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• 19 July

  Exodus of workers reshapes Qatar

  

    Doha / Reuters Five years ago Samer Habib moved to Qatar where he opened a restaurant that turned a profit serving Lebanese salads and sandwiches to expats. In June, the business folded. The European lawyers and Indian clerks who for years frequented Habib’s restaurant have been leaving the country in recent months, he said, many laid off in sweeping ...

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• 19 July

  Algeria boosts oil output

  

    Reuters Algeria has boosted output in recent months at two major oil fields, including the Hassi Messaoud field, an oil official said, as the OPEC member strives to maximise production to make up for lost revenue. Production at Hassi Messaoud, 800 km (500 miles) southeast of the capital Algiers, has risen to 470,000 barrels from 420,000 barrels, the official ...

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• 19 July

  200 SMEs face closure threat in Bahrain

  

    Manama / TNS Around 200 small businesses are facing major financial difficulties that could force them to close down and let go of thousands of employees. Small and Medium Enterprises (SMEs), which have been struggling to stay afloat since last year, have called for urgent measures to be taken, including new legislation, to protect them from going bankrupt. The SMEs ...

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• 19 July

  Saudi’s Ma’aden beats estimates despite Q2 net profit halving

    REUTERS Saudi Arabian Mining Co (Ma’aden), the Gulf’s largest miner, beat analysts’ forecasts despite posting a 50.95 percent fall in second-quarter net profit on Monday, as sales revenues declined on low commodity prices. The firm made a net profit of 132.5 million riyals ($35.3 million) in the three months to June 30, it said in a bourse statement. This ...

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• 19 July

  Saudi’s Al Rajhi Bank registers Q2 net profit gains 5.7 pc

    REUTERS Al Rajhi Bank, Saudi Arabia’s second-largest lender by assets, reported a 5.7 percent rise in its second-quarter net profit on Monday, broadly in line with analyst forecasts. The bank made 2.05 billion riyals ($546.7 million) in the three months to June 30, up from 1.94 billion riyals in the same period a year earlier, it said in a ...

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• 19 July

  Qatari bank Masraf Al Rayan posts 5.4 pc Q2 net profit gain

    REUTERS Masraf Al Rayan, Qatar’s second-largest bank by market value, reported a 5.4 percent increase in second-quarter net profit on Monday, according to Reuters calculations, broadly in line with analysts’ expectations. Net profit for the three months to June 30 was 514 million riyals ($141.2 million) compared to 487.6 million riyals in the same period a year ago, Reuters ...

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• 19 July

  Egyptian dairy company Domty to invest $27mn to boost production

    REUTERS Egyptian dairy company Arabian Food Industries Co (Domty) is planning to invest 240 million Egyptian pounds ($27 million) in 2016-17 to fund expansion and increase production capacity, Vice-Chairman Mohamed Damaty told Reuters on Monday. Domty, which raised a combined 1.13 billion pounds in private and public share offerings in March, has two factories in the 6th of October ...

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