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Saturday, 8 June 2013

Sembcorp plans IPO of joint venture company in Oman - Channel NewsAsia

"Sembcorp Industries is planning an initial public offering of a joint venture company in Oman by the end of this year.

In a filing with the Singapore Exchange, Sembcorp confirmed that it will be listing the Sembcorp Salalah Power and Water Company because it is a stipulated requirement when the firm won the project in 2009.

Sembcorp holds a 60 per cent stake in the joint venture company, which owns and operates a US$1 billion (S$1.24 billion) water and power project in Oman."

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Business - Kuwait-led group ups Severn Trent offer

"A consortium led by a Kuwaiti sovereign wealth fund and two pension companies raised its proposed offer for Severn Trent to £5.3 billion ($8.2 billion) on Friday, sending the British water utility’s share price up by as much as nine per cent.
LongRiver Partners comprising the Kuwait Investment Office, Britain’s Universities Superannuation Scheme and Borealis Infrastructure, which is part of Canadian pension fund Omers, submitted a conditional cash offer of 2,200 pence for each Severn Trent share to the company’s board.

Shares in Severn Trent rose as much as nine per cent to 2,200 pence after the announcement before settling back to trade at 2,105 pence in afternoon trading."

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The Dubai mirage - Iftekhar A Khan

"London was once the favourite haunt of runaway politicians and assorted conmen of the third world, including west-sponsored Pinochet-type dictators. But not anymore. The gulf state of Dubai has snatched this privilege from the land of strawberries.

Because of its proximity to their countries, the sheikhdom suits these fugitives as they try to stay ahead of the laws of their land. Many politicians and bureaucrats own luxury apartments and villas in Dubai, which serves as a retreat to cool their heels and scheme for the future.

Dubai raked in huge investments from around the world by those who wanted to make a quick buck. People bought luxury apartments and villas on instalments, with the view that when rented out these properties would pay for their instalments. What really happened? Dubai’s economy – based on sandy foundations – soon began to shrivel."

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BBC News - The UAE women working from home

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Dubai Design District to make city the Middle East fashion hub | GulfNews.com

"Dubai, which has so far become a major outlet of global fashion and accessories products, has taken a bold initiative to create a hub for design, innovation and creativity for the global fashion industry — by launching the Dubai Design District, industry observers say.
His Highness Shaikh Mohammad bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai on Saturday announced that a new integrated facility — Dubai Design District — will be created adjacent to the Business Bay area of Dubai, dedicated to developing the Emirate’s fashion, design and luxury sectors.
The district will be operated by Tecom Investments, a member of Dubai Holding, which has an impressive track record in creating, operating and growing successful, industry focused business parks in Dubai."

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Public spending eases Bahrain’s return to growth mode | GulfNews.com

"The public sector is playing a pivotal role in reviving economic prospects in Bahrain and for understandable reasons.
In fact, private sector establishments look up to the government to lead the investment drive ever since the outbreak of socio-political developments in February 2011. It is believed that strong governmental spending is essential in order to encourage other investors follow suit.
Not surprisingly, steady spending is leaving its imprints on economic growth rates. The Economic Development Board (EDB), which has the authority to develop economic policies and strategies, is projecting a strong growth rate of 5.6 per cent in 2013. However, the EDB puts GDP growth at a modest 3.4 per cent in 2012 mainly due to adverse developments in the petroleum sector."

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Oil prices set to plunge to $50 as new shale oil supply comes onstream? « ArabianMoney

Oil prices set to plunge to $50 as new shale oil supply comes onstream? « ArabianMoney:

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Emerging Markets: Millions in Western support at risk of being wasted unless Ukraine addresses renewable energy

"“Ukraine is stumbling forward not being able to drop opportunity fully, yet” said Dave Young, Chairman of the European-Ukrainian Energy Agency as closing remark of the 4th European-Ukrainian Energy Day “Ukraine’s Energy Market: Steps Forward or Lost Opportunity?”

Over 200 stakeholder from the energy efficiency and renewable energy sectors, among which representatives from international state institutions, diplomatic missions and policy makers, gathered together to understand what is stopping Ukraine from achieving set goals in energy saving and resources diversification."

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