Wednesday, July 22, 2015

Iran nuclear deal not immediate threat to oil market

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Finance and Economy
VIDEO: Iran nuclear deal not immediate threat to oil market
The country is not likely to receive many of the benefits from the lifting of sanctions until next year because of the need to verify the nuclear deal's implementation.
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Arab region ranks fourth in investment attractiveness, GCC at the top
The GCC topped the Arab performance in all sub-indicators except the Financial Intermediation Index and Financial Capability Index, as well as Agglomeration Economies.
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VIDEO: Dubai private sector growth slow in June, strong forecast for year-end
Despite slow growth in activity and new work, Dubai private sector companies were increasingly optimistic towards the year ahead, with the degree of positive sentiment reaching a 19-month high.
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Energy
Iran nuclear deal set to boost trade with UAE
"The two-way trade between Iran and the United Arab Emirates is expected to reach a whopping AED100 billion in 2016."
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Saudi Arabia toped list of China's oil suppliers
The kingdom accounted for 16 per cent of China's imports of crude oil, surpassing Angola, which ranked second with a market share of 13 per cent, while Russia fell to third place with 11 per cent.
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Egypt plans more oil, gas exploration deals
Egyptian Ministry of Petroleum and Mineral Resources is set to sign two new deals to explore oil in the Haleef region in the western desert and northeast of the Ramadan area in the Suez Gulf.
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Real Estate
Ajman property deals jump to AED6 billion in 18 months
"Ajman's real estate market has seen a remarkable recovery over the past year, as real estate trading volume amounted to approximately AED4bn and the number of contracts concluded reached 3,353."
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Saudi monetary body expects real estate credit growth to slow down
The Saudi Arabian Monetary Agency (SAMA) says the application of the 70-per cent rule for mortgages will help quash fears of excessive debts in the real estate sector.
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     News
Five million passengers pass through Dammam Airport since beginning of 2015
Airport management expected the number to continue to increase, underpinned by the growing number of flights at a rate of 7.5 per cent, as the number of flights amounted to 41,651.
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Nearly 20 per cent of Egypt's medicines counterfeit
"Some drug manufacturers lower the levels of the active pharmaceutical ingredient, since they buy these substances from unlicensed and untrustworthy places."
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Emirates NBD H1 net profit up 41 per cent
Total income for the first half grew by seven per cent to AED7.6bn. Net interest income up nine per cent to AED5bn and non-interest income up four per cent to AED2.6b
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Abu Dhabi hotels prepare for Eid Al Fitr holiday rush
Officials in the hotels sector confirm that these preparations come in an attempt to benefit from this occasion and lead to hotel recovery and increase occupancy rates.
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