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With crude at $50, oil firms fear deeper crisisAfter slashing spending by $180 billion to deal with one of the worst industry downturns in decades, oil companies are still bleeding cash and slipping further into debt to maintain dividends to shareholders. Depressed crude price More… |
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OBG report to chart Dubai’s progressDubai’s bid to bounce back from the global economic crisis will be mapped out in a wide-ranging report to be published by the global publishing, research and consultancy firm Oxford Business Group (OBG). The Report: Dubai 2013' will ex More… |
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Euro zone barely grows in Q3, downturn seenThe euro zone economy grew just 0.2 per cent in the third quarter as Germany and France posted solid growth but countries at the sharp end of the crisis fared much worse, and analysts expect bleaker times ahead across the 17-country bloc. More… |
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Wall Street halts rout in choppy tradeWorld stocks recovered after their 10th straight day of declines on Tuesday as Wall Street managed to put a brake on losses for the time being, with investors turning their attention to a meeting of the US Federal Reserve. Even so, safe ha More… |
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Dubai has recovered from downturn: RulerDubai, which faced a crippling debt crisis that erupted openly in 2009, has recovered from the economic downturn, its ruler Sheikh Mohammed bin Rashid Al Maktoum said. Sheikh Mohammed, whose remarks were posted on his official website on W More… |
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Industries Qatar Q3 profit rises to $412mPetrochemicals and metals company Industries Qatar reported a 28.2 percent increase in third quarter net profit on Thursday, beating analysts' forecasts. The Gulf's second-largest chemical producer by market value made a third quarter net More… |
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GCC firms 'emerging stronger from downturn'Many GCC companies are emerging from the global downturn in a strong competitive position as they are cash-rich, said a report. Even at the height of the crisis, top companies on Dubai Financial Market, Abu Dhabi Securities Exchange and Na More… |
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Bahrain 'bucks downturn'Bahrain's highly competitive economy has enabled the country to escape the worst effects of the global economic downturn in 2008-2009, according to a report by Euromonitor International. 'The government will push ahead with its pla More… |
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Gulf investment firms 'need major changes'Some investment companies in the Gulf will likely find it difficult to pursue their operations without dramatic changes in the wake of the global financial downturn, said Standard & Poor's Ratings Services. "The main reasons behind thi More… |
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Middle East to receover faster says expertThe Middle East is going to come out of the current economic downturn faster than the rest of the world but it is not immune to setbacks like the Greek liquidity crisis that can hit growth in the GCC. That was the message from Ernst & More… |
