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Gold heads for biggest weekly drop since DecGold extended losses to its weakest in more than a month on Friday, heading for its biggest weekly drop since December as a weakening euro and equities prompted investors to sell bullion to cover More… |
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Bahrain sees drop in traffic deathsThe Bahrain Interior Minister said the General Directorate of Traffic's efforts contributed to reducing fatal accidents in the Kingdom to 55 last year compared to 70 in 2010. Fifty-eight people died in 2011 compared to 75 in 2010, a dr More… |
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Banque Saudi Fransi Q4 net profit falls 6.8pcBanque Saudi Fransi posted a 6.8 percent decline in its fourth-quarter net profit due to higher costs, according to a bourse statement, missing analyst forecasts. The firm made a net profit of 661 million ri More… |
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Sewedy Jan-Sept net profit drops 24pcEgypt's El Sewedy Electric, the Arab world's biggest listed cable maker, posted a 24 per cent drop in its nine-month net profit, according to figures published by the Egyptian stock exchange on Thursday. More… |
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Gulf Air sees 30pc drop in passengers during unrestGulf Air, the national carrier of Bahrain, suffered a 30 per cent drop in passengers during the recent unrest in the kingdom, said its chief executive officer. Travel advisories issued by foreign embassies suggesting citizens should avoid More… |
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Euro zone sees drop in industrial ordersEuro zone industrial orders fell by more than expected in July and consumer morale worsened to a two-year low in September, adding to concerns that Europe may be sliding towards recession. New orders in the 17 countries using the euro fell More… |
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Reliance drops Oman offshore oil projectIndia's Reliance Industries has abandoned plans to develop an offshore oil exploration block in Oman six years after signing a production sharing agreement with the government, an oil and gas ministry official said. "Reliance has informed More… |
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Abu Dhabi apartment rents drop 5pcThe apartment rents in Abu Dhabi have fallen by at least 5 per cent in the first three months and are expected to soften further as more new properties come into the market, said a report by leading property services company Asteco. A More… |
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Kingdom Hotels revenue drops 12 per centKingdom Hotel Investments (KHI), a leading emerging markets hotel investment company, said its group revenue for last year plunged 12 per cent to $246.4 million from $278 million in 2008 owing to 'a tough economic climate.' A part More… |
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Teens losing interest in bloggingBlogging by teenagers and young adults has dropped by half over the past three years as they turn instead to texting and social networking sites such as Facebook, according to a new study. The study released this week by the Pew Internet a More… |
