INTERNATIONAL.First, the bad news - China's constrained rare earth supplies will be an "irreversible trend" and prices will remain at high levels, according to Zhang Zhong, general manager of Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co. Zhang should know, as his concern is China's leading rare earths producer - the Baatou mine produces more than 95 percent of China's production, while Chinese mines currently account for 97 percent of global supplies. The increase in global demand for rare earth metals has sent prices soaring in world markets. According to the China Nonferrous M
INTERNATIONAL. Hikma is a global manufacturer of branded and generic injectable drugs; The company proposing to issue benchmark-size unsecured notes to refinance its Bedford acquisition bridge facility; The outlook is stable.
SAUDI ARABIA. SABIC commercially launched a new range of non-phthalate polymer products developed at its technology center in Riyadh to fulfill customer demands for advanced solutions in various segments such as hygiene fabrics, and flexible packaging.
QATAR. Notwithstanding the weak start for the global economy, Asian economies are expected to continue to grow rapidly in 2015. We expect economic growth to average 5.7% in 2015, the same rate as in 2014.
UAE. Consumption of luxury goods up 11% in the GCC, according to Bain & Company; China luxury market shows a shift in consumer preferences and ties to the GCC; In the UAE, Chinese represent about 2.5% of overall tourists, but account for 7% of the mall footfall and even bigger part of the spend.