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Tuesday, 25 November 2014

Mick Dennis on Manchester City, Abu Dhabi and Sheikh Mansour | Football | Sport | Daily Express

Mick Dennis on Manchester City, Abu Dhabi and Sheikh Mansour | Football | Sport | Daily Express:



"THE chairman's suite at The Etihad is not particularly imposing. It's considerably smaller than the equivalent at The Emirates and the security is a lot less obvious than at Stamford Bridge.



But everything at Manchester City's inner sanctum is classy. The decor is understated. The food is nouvelle cuisine. The wine is decent. The welcome is unfailingly polite. Home dignitaries are gracious in victory or defeat even though they haven't had much practice at the latter.



If you don't get an Etihad directors' box ticket, don't fret. Outside the ground City have created the equivalent of a World Cup fanzone, with picnic tables, bars, cafes, giant screens showing Sky Sports News and an area for live music."



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Male-dominated markets - YouTube

Male-dominated markets - YouTube: ""



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Wall Street is back - YouTube

Wall Street is back - YouTube: ""



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All eyes on Emaar after Dh9 billion cash dividend | The National

All eyes on Emaar after Dh9 billion cash dividend | The National:



"Shares of Emaar Properties are expected to be in focus after the Dubai-listed company approved a special cash dividend of Dh9 billion at an ordinary general meeting on Monday.



The payout follows the recent listing of Emaar Malls Group, the malls and retail business of Emaar.



The announcement was made after the close of market yesterday."



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Sabic gets green light to export LNG from US to UK | The National

Sabic gets green light to export LNG from US to UK | The National:



"Sabic, Saudi Arabia’s largest chemicals company, has been given the go-ahead by United States authorities to export liquefied natural gas from the US to the UK as part of its worldwide expansion.



Mohamed Al Mady, Sabic’s chief executive, also said the company was planning to announce an investment in US shale gas shortly. “Shale gas is very important for us. Hopefully we will announce something in the near future about investment in US,” he said on the sidelines of the GPCA Forum in Dubai, an annual petrochemicals industry gathering.



Sabic has won approvals in Britain and some government funding to convert a 90-hectare Olefins cracker in Wiltshire, southern England, to be able to handle US shale gas."



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UAE companies to benefit from relaxation of sanctions on Iran | The National

UAE companies to benefit from relaxation of sanctions on Iran | The National:



"UAE companies could greatly benefit from any relaxations in sanctions on Iran’s nuclear programme agreed during the Vienna negotiations, said analysts.



“It’s going to be a bonanza,” said Patrick Murphy, a director at the legal firm Clyde & Co. “It’s the last great developing market. Whether you’re a lawyer or someone who is physically going and selling goods there, there are opportunities in every corner.”



World powers and Iran have agreed to extend talks on the country’s nuclear programme until July 1, the Iranian state news agency reported."



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Gulf petrochemicals sector cannot rest on its laurels | The National

Gulf petrochemicals sector cannot rest on its laurels | The National:



"The region’s petrochemicals industry cannot rely on past advantages, experts say, and must invest and innovate to meet the growing competitive threat coming from a shale gas- driven petrochemicals revival in the US and new coal-to-chemicals technology in China.



In the face of these threats, top industry executives gathering in Dubai for the annual GPCA Forum called for a number of responses, including investment in more sophisticated plants and encouragement of entrepreneurship and a small and medium-sized enterprise culture.



With pressures on the industry coming from lower oil and gas prices, and the development of coal-based polyethylene products in China, “there is a growing need to get more innovative, to get more competitive,” said Mohammed Al Sada, Qatar’s energy minister and chairman of Qatar Petroleum."



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UAE starts trading in secondary market | GulfNews.com

UAE starts trading in secondary market | GulfNews.com:



"The UAE started trading in secondary markets on Tuesday, a move that can boost liquidity for private companies.



Sulatn Bin Saeed Al Mansouri, UAE minister of economy rang the bell along with Essa Kasim, chairman of the Dubai Financial Market (DFM) and others, inaugurating the secondary markets at a capital markets conference in Dubai.



“We are starting trading of secondary markets in Dubai and Abu Dhabi with listing of two companies,” Al Mansouri said.



Trades started on Manazel Real Estate and The National Investor, an investment advisory firm."



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DIFC in talks with Chinese central bank for renminbi offshore market | GulfNews.com

DIFC in talks with Chinese central bank for renminbi offshore market | GulfNews.com:



"DIFC (Dubai International Financial Centre) is in initial talks with the People’s Bank of China to set up a renminbi offshore market to tap into enhanced trade and investments flows, a DIFC official said on Monday.



“We are in active dialogue with the People’s Bank of China and the Chinese financial community to make Dubai as a renminbi clearing hub. There is a greater linkage and cooperation on both sides to enhance trade and investments,” said Chirag Shah, chief strategy and business development officer at DIFC, adding “the discussions are in the initial stage”.



In 2013, the renminbi entered the Bank of International Settlements top 10 most traded currency, contributing to 2.2 per cent of total forex volumes."



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UAE economy to grow 4.8% this year, says Minister of Economy | GulfNews.com

UAE economy to grow 4.8% this year, says Minister of Economy | GulfNews.com:



"The Gross Domestic Product (GDP) of the UAE has grown 236-fold in the 43 years since the establishment of the Federation, starting at just Dh1.77 billion in 1971, and is expected to reach Dh419 billion by the end of this year, Sultan Bin Saeed Al Mansouri, the UAE Minister of Economy, said on Monday.



Minister Al Mansouri expected the UAE economy to grow by 4.8 per cent this year. Looking ahead past 2014 and citing the International Monetary Fund’s (IMF’s) recent projections, he said the economy will continue to grow at a rate of between four and five per cent over the next seven years.



“This growth was made possible thanks to the federal government’s successful economic policies based on economic diversification and sustainable development in the country’s various sectors,” Al Mansouri told representatives of the local, regional and international media at a meeting hosted by the National Media Council (NMC) on the occasion of the UAE’s 43rd National Day."



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Malaysia Green Sukuk Gets Khazanah Debut Boost: Islamic Finance - Bloomberg

Malaysia Green Sukuk Gets Khazanah Debut Boost: Islamic Finance - Bloomberg:



"Malaysia’s state-owned sovereign wealth fund is giving the government’s green financing initiative a boost with a plan to sell the nation’s first sukuk under socially responsible investment guidelines.



Khazanah Nasional Bhd. is considering issuing a benchmark sized ringgit-denominated Islamic bond to finance expansion in its education or renewable energy businesses, Chief Financial Officer Mohd Izani Ghani said in Nov. 20 interview in Kuala Lumpur. The notes will probably be issued in the second half of 2015, he said.



Malaysia, which pioneered Islamic finance 30 years ago and is now the world’s biggest Shariah-compliant debt market, is promoting green and socially responsible investment bonds after introducing guidelines in August. Khazanah is the second entity after the London-based International Financial Facility for Immunization to announce plans to sell ethical-based sukuk, helping diversify options in the $2 trillion global industry."



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OPEC Said to Consider Sparing Three Nations From Oil Cuts - Bloomberg

OPEC Said to Consider Sparing Three Nations From Oil Cuts - Bloomberg:



"OPEC is considering exemptions for three nations from any potential oil-production cuts, two people with knowledge of the proposal said. Saudi Arabia’s oil minister said he doesn’t anticipate a difficult meeting when the group meets on Nov. 27 to decide its response to slumping crude.



Iraq, Iran and Libya wouldn’t have to reduce supplies should the Organization of Petroleum Exporting Countries agree to cut output at its gathering in Vienna, according to the people, who asked not to be identified in line with their national policies. Ali Al-Naimi, Saudi Arabia’s oil minister, told reporters in the Austrian capital yesterday that it’s not the first time the oil market has been oversupplied. 




Crude prices plunged into a bear market this year amid the highest U.S. oil production in more than three decades and speculation that Saudi Arabia wouldn’t cut output in response to a surplus. Oil-market analysts are perfectly divided on whether OPEC will cut output when it meets, or leave it unchanged."



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