July, 2016

• 12 July

  Reem Al Bawadi opens its first Bahrain branch

  

    Dubai / Emirates Business Marka PJSC (DFM: MARKA), the first public stock retail operator in the UAE, has announced the opening of Bahrain’s first Reem Al Bawadi Restaurant and Café, representing the latest in a series of expansions for the restaurant across the GCC. The new franchise in Bahrain represents the 11th branch of Reem Al Bawadi throughout the ...

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• 12 July

  Oil extends losses as Iran, Libya aim to boost exports

  

    Agencies Oil prices recovered on Tuesday but stayed near two-month lows as increased US drilling, a strong dollar and hints of higher production by Iran and Libya brought worries about a global glut back into focus. The commodity has retreated since last month, when prices rose above $52 a barrel, as supply disruptions in Nigeria and Canada eased and ...

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• 12 July

  Experts to gather at ME banking summit in Sept

  

    Dubai / Emirates Business The banking sector in the Middle East has grown tremendously over the past few years. With a great deal of emphasis laid on technology adoption in the banking sector, the ever-changing banking landscape has seen a consistent growth in demand for innovative technology and services. According to multiple reports, mobile payments and digital banking strategy ...

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• 12 July

  Bahrain ranked high in network connectivity

  

    Manama / TNS Bahrain is among the most connected nations in the world, ranking among the top three in the GCC and 30 worldwide for its ability to use information and communication technology (ICT) to boost competitiveness. It was placed third among Arab nations and 28th in the world in the Networked Readiness Index (NRI) of the Global Information and ...

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• 12 July

  Kuwait’s exports at KD19mn in April

    WAM Kuwait’s exports totaled about KD 19 million in April, with 75 percent (KD 14 million) going to Arab states and 25 percent for the rest of the world, according to a report by Kuwait’s Ministry of Commerce and Industry. According to Kuwait News Agency, (KUNA), Iraq had the biggest share of Kuwaiti Arab exports with 81 percent (KD ...

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• 12 July

  Saudi Arabia’s Wadi Hanifa rebounds as a tourist spot

  

    Jeddah / TNS The Eid Al-Fitr holiday is not only a great occasion for refreshing one’s faith and social relations, but is also a good length of time for Saudis and expatriates alike to take an extended holiday in which they can spend quality time with family and friends. At this time of year, a major attraction in the capital ...

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• 12 July

  Brexit political chaos matters more for EDF than pound slump

  

    Bloomberg The political chaos since the U.K.’s vote to leave the European Union should be more of a concern for Electricite de France SA’s £18 billion ($23 billion) Hinkley Point nuclear power project than the slump in sterling. The drop in the pound to a three-year low against the euro will shave just a small fraction off the anticipated ...

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• 12 July

  German bonds fall as UK political clarity reduces haven demand

  

    Bloomberg German government bonds fell for a second day as greater political clarity in the U.K. and the prospect of a boost to monetary stimulus globally supported stocks and reduced demand for the safest assets. Yields on the nation’s 10-year bunds, the euro zone’s benchmark government securities, climbed to the highest in a more than a week — days ...

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• 12 July

  Italy beats Brexit as private equity strategy, says Patron

    Bloomberg A flood of soured assets will come on the market in Italy if a referendum to overhaul the political system is approved in the autumn, said Keith Breslauer, founder and managing director of Patron Capital Partners. “The opportunity in Italy is far greater” than in the U.K. after it voted to leave the European Union, Breslauer said in ...

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• 12 July

  Daimler rises as profit surprises & Mercedes sales lead

  

    Bloomberg Daimler AG rose the most in three weeks after the company solidified its lead in the luxury-car market and said it’s confident of reaching this year’s underlying profit goals, despite more than 1 billion euros ($1.1 billion) in one-time costs in the second quarter. Adjusted earnings before interest and taxes rose 5.6 percent to 3.97 billion euros in ...

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