July, 2016

• 11 July

  Gulf Craft delivers Majesty 135

  

    DUBAI / Emirates Business Gulf Craft has announced that it has delivered another one of the shipyard’s timeless masterpieces, the 41-meter Majesty 135 (M/Y Nashwan). Treasured for its ability to deliver truly royal cruising experiences, the award-winning Majesty 135 continues to be one of the most beloved creations in Gulf Craft’s large portfolio of luxury motor yachts from its ...

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• 11 July

  Crescent Enterprises partners with SLC to churn out talents

  

    Sharjah / Emirates Business As part of its commitment to supporting the growth of female entrepreneurs and fostering young talent in the region, Crescent Enterprises has entered into a partnership with the Sharjah Ladies Club (SLC), contributing to its Collage Talent Center and Ebriez Exhibition. Crescent Enterprises will support the club to reach 11,000 community members through a range ...

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• 11 July

  Oil price stable even as Iran plans to boost crude exports

  

    BLOOMBERG Oil markets will remain stable this year even as Iran plans to keep boosting crude exports to regain the market share it lost due to sanctions, according to a senior official at state-run National Iranian Oil Co. Iran exports about 2 million barrels of its daily output of 3.8 million, said Mohsen Ghamsari, NIOC’s director of international affairs. ...

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• 11 July

  Egypt’s urban consumer inflation jumps to 14 pc

  

    Cairo / Reuters Egypt’s urban consumer inflation jumped for a third straight month in June as consumer demand spiked during Ramadan, official data showed on Sunday. Food demand normally surges during the Muslim holy month because of heavy consumption following the dawn-to-dusk fasting period. Ramadan this year began on June 6 and ended on July 5. Urban consumer inflation ...

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• 11 July

  Pearl, precious stone imports up in Saudi

  

    Riyadh / TNS Saudi markets imported pearls and precious stones worth SR21.8 billion in 2015, compared to SR19.2 billion in 2014, or an increase of 13 percent, local media said. Imports of pearls and precious stones represented 3.3 percent of the Kingdom’s total imports, which stood at SR655 billion in 2015, compared to 2.9 percent in 2014, with its total ...

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• 11 July

  Saudi car rental firms hike prices by up to 80pc

  

    Jeddah / TNS Car rental offices witnessed a surge in rentals during the Eid by up to 80 percent, compared to other vacation days, which contributed to the rise in rental prices of up to 60 percent. Workers in the sector in Jeddah and Makkah said some offices began to provide more vehicles, either by repairing those vehicles with problems, ...

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• 11 July

  Israel, Egypt warm up relations over gas deal, fighting terror

  

    BLOOMBERG When Egyptian President Abdel-Fattah El-Sisi turned a standard speech on electricity supplies into an unexpected appeal for peace between Israel and the Palestinians, one man who wasn’t surprised was Israeli Prime Minister Benjamin Netanyahu. The televised address in May capped months of backstage diplomacy by a group including former British premier Tony Blair. Nearly four decades after their ...

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• 11 July

  Crucial South China Sea row verdict today

  

    Bloomberg China has intensified the drumbeat of its opposition to an international tribunal’s ruling expected on Tuesday that could threaten its expansive claims in the South China Sea. How Beijing responds to the ruling in the case filed by US ally the Philippines could chart the course of global power relations in an increasingly dangerous hotspot. It comes as ...

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• 11 July

  India wants new foreign investment pacts to limit lawsuits

  

    AP  India has triggered the escape clause on dozens of bilateral investment treaties, aiming to renegotiate toward securing better protection from foreign litigation. The notifications, issued earlier this year, effectively let governments know they have 12 months to broker new treaties before the old ones expire. The changes India seeks could make it harder for foreign investors to legally ...

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• 11 July

  Russia stalls China’s $1 billion hydropower loan for Mongolia

  

    Bloomberg Russia’s concern about water rights is holding up a $1 billion loan package Mongolia is seeking from China to build a hydroelectric dam that would help the landlocked central Asian nation ensure independent supplies of energy. The Kremlin said in June the project to build the Egiin Gol Hydro Power Plant on the Eg River in northern Mongolia ...

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