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Gas shortage hammers RAK Cement profitAbu Dhabi-listed Ras Al Khaimah Cement Co. net profit fell 56.5 percent in the second quarter chiefly due to a shortage in gas supplies. First-half net profit was down 39.1 percent to 42 million dirhams ($11.44 million), the company said i More… |
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UAE cement firms turn to coal for want of gasUAE cement makers are turning to imported coal to fire their furnaces as gas is scarce and the petrodollar-fueled building boom shows no signs of letting up. That is likely to drive world coal prices higher still, producers and traders say More… |
