G-20 Focuses on Debt Levels

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(Washington) - Finance leaders of the G-20 economies gathered to debate how best to rein in debt levels and the potential dangers from the latest round of aggressive easing of monetary policy from the world’s biggest central banks. They…

IMF cuts World Growth Forecast

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(Washington) - In its newest assessment of the global economy, the International Monetary Fund said world output would expand by 3.3 percent this year, compared to the 3.5 percent it predicted in January. This has left the pace of the world…

Gold Price Plunges to Lowest Level since 2011

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The price of gold has fallen to a two year low at just under $15,000 per ounce. Gold for June delivery plunged $64 to close at $1,501 an ounce, the largest drop since February 2012. It was the lowest price since July 2011. The price has…

US Deficit Forecast at $744 bln in 2014

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(Washington) - US President Barack Obama's budget unveiled forecasts a deficit of $744 billion dollars in fiscal year 2014, a senior US official said. The figure equates to a deficit of 4.4 percent of gross domestic product in 2014, compared…

UAE becomes Largest Middle East Market

An upsurge in business has sharply boosted imports by the UAE over the past few years to turn into the largest market in the Middle East although it has one of the smallest populations in the region. Official data showed the UAE's imports…

UAE Becomes Top Arab Capital Exporter

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The UAE has pumped nearly US$55.5 billion into foreign markets over a period of 32 years to emerge as the largest capital exporter in the Arab world. The funds accounted for nearly 31 per cent of the total Arab foreign direct investment…

UAE-Slovak Economic Relations to Receive Boost

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(Abu Dhabi) - Minister of Economy, H.E. Sultan bin Saeed Al Mansouri, and the First State Secretary of the Ministry of Economy of the Slovak Republic, Pavol Pavlis discussed ways to enhance economic, trade and investment cooperation and…

UAE’s Trade with GCC Rose to $85b

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(Abu Dhabi) - The UAE’s trade with the GCC nations has grown considerably in 2011, as the exports grew nine per cent year-on-year to $9.626 billion, while imports were robust at 26 per cent to $7.575 billion. The volume of total intra-GCC…

Qatar Finds Gas After 42 years

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(Doha) - Qatari Energy Minister, Mohammed bin Saleh al-Sadah has announced the discovery of as much as 2.8 trillion cubic feet of natural gas in an offshore field known as Block 4 North, off the shore of the Gulf island nation. The field…

Global Share Index Hits Highest Since 2008

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MSCI’s world share index hit its highest level since June 2008, lifted by an improving global outlook and prospects of highly supportive monetary policies remaining in place in most major economies. The index, which tracks 9,000 stocks…

Sheikh Sultan & His Turkish Counterpart Discuss Economic Ties

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(Abu Dhabi) - H.E. Sultan bin Saeed Al Mansouri, Minister of Economy and his Turkish counterpart, Zafer Caglayan during a meeting at Abu Dhabi, discussed ways to promote economic relations between the two countries. They reviewed the progress…

Sheikha Lubna chairs 1st Meeting of WTO's National Committee

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(Abu Dhabi) - UAE Foreign Trade Minister, H.H. Sheikha Lubna Al Qasimi said the bolstering of UAE economic and trade interests within the framework of its membership in the World Trade Organisation (WTO) is an absolute priority. She added…

World Expo 2020 To Bring Record-Breaking Dubai Achievements

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(Dubai) - As the Dubai city perches at the cusp of bigger accolades to line the way, a successful World Expo 2020 bid would serve as another jewel in the crown for Dubai’s victorious turn in the spotlight, which has already borne witness…

Dubai Stocks Hit 3 year High

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(Dubai) - Dubai shares have surged to a three-year high with Emaar Properties driving the upswing. Emaar surged to Dh5.26, the highest since November 2008. Arabtec Holding, the largest UAE builder by market value, rose to the highest level…