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Euro zone slips into second recession since 2009The euro zone fell into a recession in July-September, the second since the global financial crisis in 2009, as French resilience could not make up for a slump across Europe and the three-year debt crisis slowed Germany to a crawl. More… |
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Jafza’s electronics, IT trade grows at 8.5pcElectronics and IT firms based in the Jebel Ali Free Zone (Jafza) generated trade worth Dh51 billion ($13.88 billion) in 2009, compared to Dh35 billion in 2005, registering a compound annual growth rate (CAGR) of 8.5 per cent. These trade More… |
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GCC bond issues decline 28pc in 2010Bond and sukuk issues across the GCC totalled $57 billion in 2010, marking a decrease of 27.6 per cent over 2009, said a report. October witnessed the highest issuance frequency and value with 23 issuances raising a total of $9.1 billion, More… |
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Kuwait's nominal GDP drops 21pc in 2009Kuwait's nominal gross domestic product fell 21.2 per cent last year, following a 22.7 per cent rise in 2008, central bank data showed on Thursday. The nominal GDP of Kuwait, the world's fourth largest oil exporter, dropped to KD31.5 billi More… |
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Dubai plastic films exports hit $83mThe value of top plastic films, including polypropylene, PET and PVC, exported by Dubai in 2009 reached Dh304 million ($82.79 million), said a report. “Dubai has experienced exceptional growth in the trade of, not only plastic, but a diver More… |
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Egypt growth seen at 5-5.5pc in 2009/10Egypt's economy is expected to grow by five to 5.5 per cent in fiscal year 2009/10, which ends on June 30, the investment minister said on Tuesday. The government previously said the economy could expand by 5.3 per cent this year, after gr More… |
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First Bahrain posts $8m loss in 2009First Bahrain, a leading Kuwaiti real estate development company, has posted a loss of KD2.41 million ($8.27 million) in 2009, which it attributed solely to a conservative reduction in the value of its land bank in Bahrain. “Despite this l More… |
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South Valley Cement net profit at $28mEgypt's South Valley Cement posted 2009 net income of EGP151.8 million ($27.5 million), up from EGP6.5 million in 2008, the stock exchange said on Thursday. The exchange gave no other details. Shares in South Valley Cement were tra More… |
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First Energy posts $14m profitBahrain-based First Energy Bank (FEB), a leading Islamic investment bank, posted profits of $14.2 million for 2009 at its third annual general meeting held today (March 30). The bank’s total revenues increased to $47.41 million, and total More… |
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Raya profit dips 23pc to $7.5mEgypt's Raya Technology and Communication made a net profit of EGP41.3 million ($7.5 million) in 2009, down 23 per cent on a year earlier, the stock exchange said on Tuesday. The firm, which sells mobile handsets, runs call centres and pro More… |
