Monday 26 June 2017

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IMPROVE GAINS, SWISS FIRM TOLD
Third Point takes $3.4 billion stake in Nestle

Activist investor Daniel Loeb's Third Point has taken a stake of 3.28 billion Swiss francs ($3.4 billion) in Switzerland's Nestle and urged the world's largest packaged-foods company to find ways to accelerate growth, media reports said.

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OVERALL RANK IN TOP 20
UAE leads region in global digital competitiveness

The UAE is the only country from the Middle East that is featured in the top 20 rankings at the 18th position globally in the recent Digital Competitiveness Ranking, according to report released by IMD World Competitiveness Centre.

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2

F&B SPEARHEADING GROWTH
Global halal industry grows 8pc to hit $2.3 trillion

The global halal products and services sector is growing at eight per cent year-on-year to hit $2.3 trillion, higher than the GDP of more than 200 countries in the world, said a report released ahead of a major industry event in Dubai, UAE.

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3

ANALYSIS
Market forces will drive climate change efforts

Following the announcement by President Donald Trump that the US will withdraw from the COP21 agreement, an industry expert has said that the move will not be detrimental to climate protection efforts.

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4

FOCUS
Global IoT benefits ‘could reach $11trn by 2025’

The Internet of Things (IoT) will generate economic benefits between $4 to $11 trillion globally by 2025, a report said, adding that the number of devices connected is expected to grow to 100 billion.

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5

NEWS IN PICTURES
Eid in Dubai

UAE residents and visitors can expect to see a diverse line-up of activities for the upcoming Eid Al Fitr as Dubai gears up for the 10th edition of the 'Eid in Dubai' celebration.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Abu Dhabi approves $653m housing loans

Abu Dhabi government plans to issue new batch of housing loans worth Dh2.4 billion ($653 million) to more than 1,000 beneficiaries across the emirate in line with its initiative to provide appropriate housing to its citizens, said a report.

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Retail & Wholesale

EuroMena buys key stake in Moroccan retail group

EuroMena, a major private equity fund based in Lebanon, said it has acquired a minority stake in Retail Holding, the Moroccan franchisee for French giant Carrefour, Virgin Megastore and fast food chain Burger King.

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Energy, Oil & Gas

Opec, non-Opec conformity level hits 106pc

Organization of the Petroleum Exporting Countries (Opec) and the participating non-Opec countries have recorded the highest conformity ever with their voluntary adjustments in production, achieving a level of 106 per cent, said a report.

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Finance & Capital Market

Xpress Money sees 12pc jump in Ramadan remittances

Xpress Money, one of the leading money transfer brands in the UAE, said it has recorded a 12 per cent increase in remittances in the first two weeks of Ramadan compared to the same period last year.

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Analysis, Interviews, Opinions

Nowhere To Go: Iraqi kids trapped in cycles of violence, poverty

Three years since the intensification of violence in Iraq, children are trapped in an endless cycle of violence and increasing poverty and continue to witness sheer horror and unimaginable violence, according to a UN Children's Fund (Unicef) report.

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Industry, Logistics & Shipping

Abu Dhabi Ports unit launches key e-payment solutions

Maqta Gateway, a subsidiary of Abu Dhabi Ports, and the developer and operator of Maqta Port Community System (MPCS), has announced the launch of new innovative solutions covering online payment and licensing services.

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Travel, Tourism & Hospitality

Viceroy Palm Jumeirah wins favourable DIFC ruling

DIFC Courts has issued an order prohibiting the owner of the Viceroy Palm Jumeirah Dubai hotel from taking any further actions to prevent Viceroy Hotels and Resorts from exercising its exclusive authority to manage and operate the hotel.

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IT & Telecommunications

Cisco unveils networking tool to tackle cyberattacks

Cisco has launched a network that represents a significant breakthrough in enterprise networking. Designed to be intuitive, it can recognise intent, mitigate threats through encryption, and learn over time, unlocking opportunities.

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Lifestyle

Diamond boutiques launched on superyachts

International diamond brand Samer Halimeh New York (NY) has partnered with SSH Maritime, a leading yacht charter, to launch a series of summer diamond boutiques on the superyachts represented by SSH Maritime.

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Motoring

Nissan names new COO for Saudi Arabia

Japanese automaker Nissan has appointed Bader El Houssami as the new chief operating officer for Saudi Arabia effective July 1. Based in Jeddah, he will be responsible for the company’s day-to-day operational functions within the kingdom.

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Health & Environment

Yemen hit by world's worst cholera outbreak

Yemen is now facing the worst cholera outbreak in the world with suspected cases exceeding 200,000 and the number is increasing at an average of 5,000 a day, the United Nations has warned.

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Media & Promotion

Eid celebrations begin in Bahrain, GCC

Bahrain has declared Sunday (June 25) as the first day of Eid Al Fitr after official announcements were made in Saudi Arabia of sightings of the new Shawwal crescent. The UAE has also announced that Eid will begin tomorrow.

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Education, HR & Training

Esol to open new American school in Bahrain

Dubai-based Esol Education, a leading organisation specialising in the establishment and management of international schools around the Middle East and Mediterranean, will be opening a new American school in Bahrain in September of 2019.

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Miscellaneous

Arabs give ultimatum to Qatar: shut Al Jazeera, curb Iran ties

Four Arab states - Saudi Arabia, the UAE, Bahrain and Egypt - that imposed a boycott on Qatar have handed a list of 13 demands, including closure of Al Jazeera TV and curbing Iran ties - and gave Doha 10 days to comply with the demands.

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