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Business
US home construction rises 6.8 percent in May
yesterday
Washington: US builders began construction on more single-family homes and apartments in May, encouraged by more buyers and a scarcity of houses for sale. The overall pace of homes started rose 6.8 per cent last month to a seasonally adjusted annual rate of 914,000, the Commerce Department... Full story
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Business
Adnoc and Lulu sign agreement for the management of Ruwais Shopping Mall
yesterday
Abu Dhabi:Abu Dhabi National Oil Company and Line Investment & Property, a subsidiary of Lulu Group International, have signed an agreement that would make the latter assume the Operations and Management Services responsibilities of the Ruwais Shopping Mall in Gharbia. An agreement was... Full story
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Business
FDI inflows to the UAE rose 25 per cent in 2012
yesterday
Dubai: Foreign direct investment (FDI) inflows to the United Arab Emirates rose 25 per cent to $9.6 billion (Dh35.2 billion), or 20.8 per cent of the total. Foreign direct investment into Arab states rose by 9.8 per cent last year despite unrest in some of them but remained well below its... Full story
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Business
India’s rupee closes at record low to US dollar, UAE dirham
yesterday
Abu Dhabi: India’s rupee on Tuesday closed at an all time record low of 58.78 to the dollar ahead of a US Federal Reserve meeting on Wednesday where a decision could be taken on scaling back the Fed’s $85 billion-a-month (Dh312.13 billion) asset purchase programme as the ... Full story
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Business
India deficit at 7-month high
last Tuesday
18 June 2013 India’s trade deficit widened to a seven-month high in May as gold imports surged, provisional data showed on Monday, but economists expect newly announced measures to dampen demand for the precious metal in coming months and narrow the shortfall. A nearly 90 per cent ... Full story
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Business
Qatar sells 10% stake in Porsche Holding
last Tuesday
18 June 2013 The Porsche-Piech family bought Qatar Holding’s 10 per cent stake in Porsche Automobil Holding to regain full control of the investment company whose only asset is a majority stake in Volkswagen. The purchase gives the family 100 per cent of the common shares and voting ... Full story
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Business
Agreement inked to develop Dubai as world’s fashion hub
last Tuesday
18 June 2013 The General Secretariat of the Executive Council of Dubai recently signed a Memorandum of Understanding (MoU) with the Dubai Technology and Media Free Zone Authority (DTMFZA) to create and develop ‘Dubai Fashion 2020.’ The strategic plan will support Dubai’s and ... Full story
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Business
The art of business
last Tuesday
18 June 2013 He’s used to this. But more than doing his task with simplicity, grace and confidence, he definitely knows what he’s talking about, befitting of a director-general of no less than the Dubai Chamber of Commerce and Industry — and all the responsibilities that come ... Full story
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Business
Ambitious free-trade talks
last Tuesday
18 June 2013 The United States and the European Union launched negotiations for the world’s most ambitious free-trade deal on Monday, promising thousands of new jobs and accelerated growth on both sides of the Atlantic. Trade between Europe and the United States is worth almost $3... Full story
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Business
Motor mouth: Formula One testing
last Tuesday
Back in 2007 when the powers that be decreed that Formula One testing was to be limited to 30,000km, and that a strict curb on in-season testing would be enforced, it seemed like a good idea at the time. Apparently it would address the issue of massive expenditure at the pinnacle of the... Full story
Thursday June 20, 2013
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