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Last Updated: Sat, Feb 6 2016 | 12:50 PM |

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1

Jayant Ganwani, CEO of Lals Group: Don’t expect miracles in 2016

Retailers have had an excellent run from 2011-14, but for those that are bold enough to admit it, 2015 has been one of the toughest years for GCC retail. The attrition in like-for-like sales has varied...

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Posted by: Joe Van Nel Feb 1, 2016 12:31 PM [South Africa]

Thank you for the article.
Going through the same, if not tougher situation here in South Africa. As a commodity based economy - the stronger dollar, political issues, investor confidence . . . all having a negative effect on retail. Consolidation and lean management of the business is the approach to weather these tough conditions

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1

Oman’s GDP plummets 14.2% in wake of oil price drop

Oman’s gross domestic product (GDP) registered a decline of 14.2 per cent in the first three quarters of 2015, from OMR23.41 billion ($60.80 billion) in Q3 2014 to OMR20.09 billion ($52.18 billion) the...

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Posted by: MWH Feb 1, 2016 12:31 PM [UAE]

Something is wrong with the USD GDP figures. 1) they go up from 2014 to 2015 while OMR goes down. 2) the difference in USD is not 14%. (The OMR figures appear correct).

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1

Confusion over proposed changes to UAE visit visa

Government proposals to ditch requirements for UAE visit visa holders to leave the country in order to renew their status have prompted confusion in the market, according to reports.Earlier this week several...

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Posted by: gkv Feb 1, 2016 12:32 PM [uae]

We ended up paying aed 1070 for tourist in uae to get employment visa in hand without leaving uae and then again paid 500+-to change status from visit visa to employment visa.

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1

$350k of art ‘destroyed in The Address fire’

A Dubai businessman reportedly lost an estimated AED1.3 million ($350,000) of art works when two of his apartments were destroyed in The Address Downtown hotel fire on New Year’s Eve.Ramin Salsali, a petrochemicals...

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Posted by: Veronica Chapman Feb 1, 2016 12:35 PM [UAE and UK]

I would think what the words say on your deeds.

But normally house goods should be covered under house contents
By the owner. Even your house maids should be covered in case of anything......

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1

Residents evacuated in Dubai Marina blaze drama

Residents living in a residential building in Dubai Marina were evacuated on Thursday after a fire broke out, it has been reported.According to a spokesperson from the Dubai Civil Defence, the blaze, which...

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Posted by: Red Snappa Feb 1, 2016 12:35 PM [Ireland]

Another electrical issue leading to a fire in a residential building!

It appears that the implementation of a new UAE fire code of material standards (fascia cladding and electrical) and the associated upgrade process needs to be accelerated. Owner occupiers, tenants and visitors, are no doubt already jittery and potential investors in tower properties will start to have second thoughts.

There may be a case for government grants, in the interests of public reassurance, especially in the case of older buildings where sinking funds are inadequate and owners associations have been left 'holding the baby' as it were.

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4

Burj Khalifa’s world record LED projection to continue until Jan 9

The Guinness World Record winning LED illumination on Burj Khalifa facade will continue through January 9.The spectacular LED display envelopes Burj Khalifa in the UAE National flag colours, among other...

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Posted by: Anthony Feb 1, 2016 12:35 PM [Dubai, UAE]

Spook de Naaier: which company are you working for? anthonybas@hotmail.com - 0566763138 (Consultant)

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1

UAE bank winds down SME unit as it seeks to return to profit

United Arab Bank (UAB), hard hit by a surge in debt defaults among small business owners in the United Arab Emirates, is winding down its SME unit to focus on larger companies in a bid to return to profit...

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Posted by: khalid Feb 1, 2016 12:36 PM [uae]

they are blaming sme companies. when in fact they should blame themselves for getting into this mess.

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1

Oman to allow 100% foreign ownership under new law

Expats will be able to own 100 percent of a company in Oman, under a new law to boost foreign investment in the sultanate, it was reported on Wednesday.Oman’s new foreign capital investment law, which...

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Posted by: Benard Frankestien Feb 1, 2016 12:37 PM [United states]

WOW..GOOD NEWS, but we have to look at the final draft. No businessman will enter without proper benefits and local controls, in particular for insisting local labour percentage. Also Dubai is next door with all benefits for expat community. So Oman has to give more benefits to attract foreign investments, otherwise it will be like any of the other GCC countries. It remains on paper but it will never became a reality.

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1

Oman sets plan to halve oil's role in economy

Oman's government has released a five-year plan to halve the economy's dependence on the oil industry as low crude prices pressure government finances.The 2016-2020 plan, set out in a statement by the...

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Posted by: Brian Smith Feb 1, 2016 12:37 PM [England]

The Sultanate of Oman has the greatest potential of all countries in the region for tourism. However, I have watched with despair the squandering of multiple opportunities for diversification and harnessing of the natural attractions of the country. The tourist industry is living relatively in the dark ages with inefficiencies, high cost to value ratios and a seeming determination to ignore improvements and innovations which are obvious to even the most casual observer. The Ministry of Tourism would benefit from employing young, thrusting Omani professionals and giving them the authority to proceed.
Perhaps the present low oil prices will concentrate the mind ?
I live in hope.

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3

PR stunt kick-started our business, says Cobone founder

Paul Kenny, founder of the daily deals voucher site Cobone.com, has admitted publishing a fake press release about Cobone.com’s breaking the record for e-commerce in the region in September 2010.Kenny...

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Posted by: Maheen Feb 1, 2016 12:45 PM [UAE]

Inspirational Kenny. Good luck on your future endeavors.

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