May, 2016

• 29 May

  G7 falters on global growth test

  

    The Diplomat SPECIAL TO EMIRATES BUSINESS The Group of Seven’s (G7) failure to endorse coordinated action on global growth will do little to revive a faltering world economy. However, with progress on trade and tax the first such summit held in Asia for eight years may yet achieve more than the typical talkfest. On Friday, the G7 wrapped up ...

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• 29 May

  China needs market reforms now

  

    As China’s “go global” policy picks up steam, foreign governments have become increasingly skeptical about the intentions of Chinese state owned enterprises (SOEs) and their effects on the host nation’s economy. From slapping anti-dumping duties and tariffs on main Chinese products, to strong-arming Beijing’s leadership to implement tougher regulatory standards, China’s “peaceful rise” is increasingly being challenged by the ...

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• 29 May

  Dubai stocks post best streak in 8 months as Gulf trading slows

  

    BLOOMBERG Dubai stocks gained a fifth day amid declining trading across Gulf Arab equity markets, with some investors taking a long weekend and the start of Ramadan about a week away. The DFM General Index rose 0.3 percent, capping the longest winning streak since September. About 140 million shares were traded on the emirate’s main measure, less than half ...

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• 29 May

  Chicken feed hottest commodity of 2016 amid supply woes

  

    Bloomberg This year’s best-performing commodity is chicken feed. And cow food. Soybean meal, made from crushed soybeans and used to feed poultry and livestock, has jumped 54 percent in 2016, the biggest gain among the 22 components of the Bloomberg Commodity Index. Prices are soaring after flooding reduced crops and limited supplies from Argentina, the world’s biggest exporter of ...

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• 29 May

  B’desh wheat cargo rejection spooks sellers

  

    Bloomberg Some wheat traders are steering clear of Bangladesh’s tenders to import the grain after the nation rejected three cargoes earlier this year. The country’s Directorate General of Food received only two offers in a tender to buy 50,000 metric tons of wheat, Ilahi Dad Khan, director of procurement at the agency, said by phone from Dhaka. It had ...

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• 29 May

  Gold posts losses again as Yellen adds to rate-rise angst

  

    Bloomberg Gold looks very different than it did at the beginning of May. Along with platinum, palladium and silver, it is heading for the biggest monthly loss since November as investors anticipate higher borrowing costs in the U.S. Bullion has pared this year’s rally after retreating more than 5 percent in May as the dollar rallied and investors raised ...

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• 29 May

  Much of municipal solid waste collected is food

  

    Abu Dhabi / Emirates Business Initial findings from The Emirate of Abu Dhabi Waste Master Plan 2040’s Waste Characterisation Study indicate that a significant amount of Municipal Solid Waste is food. Estimations of food waste range from 35% to roughly 50% in some waste collection areas in the Emirate. The fieldwork for the Waste Characterisation Study was carried out ...

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• 29 May

  Real estate investors look to online aid for bespoke services

  

    Ritika Sharma / Emirates Business More and more Middle East residents are looking for tailor-made real estate assistance to make the process of searching, purchasing and selling properties in the region easy. Catering to this demand, many online portals are creating one-stop destinations to offer investors and residents bespoke real estate services. Talking about the trend that is becoming ...

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• 29 May

  MBRF launches Arab Knowledge Index

    Dubai / Emirates Business Mohammed Bin Rashid Al Maktoum Foundation (MBRF), a member of the Mohammed Bin Rashid Al Maktoum Global Initiatives, and the United Nations Development Programme (UNDP) organised Egyptian Knowledge and Innovation Society Conference in Cairo as part of a series of events in key international and regional cities to announce results of the Arab Knowledge Index. ...

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• 29 May

  Souq.com posts 32% growth in smartphones sales in 2015

  

    Sunaina Rana / Emirates Business Leading UAE-based e-commerce website Souq.com has observed a significant 32% growth in smartphones sales in 2015. The Google Insights report stated that the UAE has witnessed the highest rate of device ownership in the world. The average consumer in the Emirates in 2015 owned three connected devices. Souq.com has been experiencing a 100% increase ...

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