Global growth concerns hit world markets

Global growth concerns hit world markets

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Concerns over a slowdown in the world’s biggest economies hit world markets, with weak indicators out of China and Europe’s financial turmoil unsettling investors ahead of a crucial US jobs report. A survey of China’s manufacturing activity,…
Eurozone looks at Greek exit as leaders meet

Eurozone looks at Greek exit as leaders meet

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Brussels - European leaders, at odds over how to resolve the deepening crisis in the euro zone, have been advised by senior officials to prepare contingency plans in case Greece quits the single currency area. "The Euro group working Group…
UAE leads Arab region in enabling trade WEF

UAE leads Arab region in enabling trade: WEF

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Abu Dhabi - The UAE continues to lead the Arab region and is ranked 19th globally in the Global Enabling Trade Report 2012 released by the World Economic Forum (WEF). It also figures among the top 10 nations in Efficiency of Import-Export Procedures…
IMF warns Britain to support growth

IMF warns Britain to support growth

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(London) - The International Monetary Fund said Britain may need to further slow the pace of its tough austerity measures to lift the country’s growth amid the risk of a major eurozone “shock”. “Fiscal easing and further use of the government’s…
G8 Leaders look to head off Eurozone Crisis

G8 Leaders look to head off Eurozone Crisis

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Leaders of major industrial economies are meeting to try to tackle a full-blown crisis in Europe where fears are growing that Greece could leave the Eurozone bloc, threatening the future of the common currency. President Barack Obama, the G8…
GCC ministers of commerce hold 45th meeting

GCC Ministers of Commerce hold 45th Meeting

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(Riyadh) - UAE Minister of Economy, H.E. Sultan bin Saeed Al Mansouri is participating in the 45th GCC ministers of commerce meeting being held in Riyadh within the framework of the committee of trade cooperation. Dr. Toufic Al-Rabi’ah, the…
World stocks drop as worries over Greece intensify

World stocks drop as worries over Greece intensify

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(Milan) - World stock markets dropped as worries intensified over the condition of the eurozone and whether Greece is edging towards leaving the single currency union. In Athens, Greek party leaders were scheduled to resume talks aimed at forming…
UAE Economy Minister addresses ESCWA's 27th session

UAE Economy Minister addresses ESCWA's 27th session

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(Beirut) - Addressing the 27th Ministerial Session of the United Nations Economic and Social Commission for Western Asia (ESCWA) in Beirut, UAE Economy Minister H.E. Sultan bin Saeed Al Mansouri said, "UAE's approach for comprehensive development…
UAE and Algeria discuss trade ties

UAE and Algeria discuss trade ties

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H.E. Sultan Bin Saeed Al Mansoori, UAE Minister of Economy who led UAE delegation to Algeria, signed the joint statement of the 10th Joint Committee Meeting between the two countries with Karim Joudi, Algerian Minister of Finance in the presence…
Sheikha Lubna discuss trade ties with German officials

Sheikha Lubna discuss trade ties with German officials

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(Hanover) - H.E.Sheikha Lubna, Minister of Foreign Trade received Prime Minister of Lower Saxony, David McAllister at UAE Pavilion's headquarter at the Hanover International Industrial Exhibition 2012 in Germany. During the meeting which was…
IMF to secure $400b funding for Europe

IMF to secure $400b funding for Europe

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(Washington) - The Group of 20 nations have stood ready to commit at least $400 billion to bulk up the International Monetary Fund, as IMF has been aiming to raise at least $400 billion; a doubling of its lending capacity, to ensure it has enough…
GCC foreign assets to hit $2.1trillion

GCC foreign assets to hit $2.1trillion

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(Dubai) - GCC countries will experience robust growth in 2012 on the back of high oil revenues that are expected to hit $572 billion this year, while the net foreign assets of the six-member bloc are projected to hit $2.1 trillion by 2013, the…
Kim officially selected as World Bank President

Kim officially selected as World Bank President

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(Washington)- World Bank has named Jim Yong Kim as its next president. Dr. Kim, 52, will take over on July 1 after the current president, Robert B. Zoellick, steps down at the end of his five-year term. For the first time, World Bank's 25-member…
WTO Makes UAE Trade Recommendations

WTO Makes UAE Trade Recommendations

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(Geneva) - The United Arab Emirates (UAE) plays an important role in the multilateral trading system and has taken bold steps to diversify the economy away from oil and gas, according to the World Trade Organisation (WTO). The WTO says that…