Wednesday 1 July 2015
 
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Saudi foreign assets dip after dollar surge

The net foreign assets at Saudi Arabia’s central bank fell to SR2.521 trillion ($672.2 billion) in May, down by $6.6 billion or one per cent from the previous month as the kingdom continued to draw down reserves to cover a budget gap cause

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Strong US retail sales boost growth outlook

US retail sales surged in May as households boosted purchases of automobiles and a range of other goods even as they paid a bit more for gasoline, the latest sign economic growth is finally gathering steam. While other data on Thu

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Alarm over rise in glue sniffing in Bahrain

A surge in teenagers sniffing glue and getting high on petrol fumes has sparked calls in Bahrain for heightened parental vigilance over the summer holidays. Rehabilitation support network the Addicts Friends Society, which runs we

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Mumtalakat gross profit surges 65pc to $477m

Bahrain Mumtalakat Holding Company, the investment arm of the kingdom, has announced that its full-year results for 2014 reflected another solid financial and operational performance across the group, constituting of 38 portfolio companies.

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New sheep stock to meet Ramadan demand surge

A consignment of 30,000 live sheep arrived in Bahrain yesterday (May 25) to meet an anticipated surge in demand during Ramadan, which starts next month. They will be examined and transported to the Bahrain Livestock Company (BLC)

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Record production lifts GPIC profit to $190m

Bahrain-based Gulf Petrochemical Industries Company (GPIC) has posted a 2.25 per cent rise in net profit at $190.2 million for last year, compared with $186 million for 2013. The profit surge comes on the back of its highest combi

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Record production lifts GPIC profit to $190m

Bahrain-based Gulf Petrochemical Industries Company (GPIC) has posted a 2.25 per cent rise in net profit at $190.2 million for last year, compared with $186 million for 2013. The profit surge comes on the back of its highest combi

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Al Baraka Egypt income surges 21pc

Al Baraka Bank Egypt, a subsidiary banking unit of Al Baraka Banking Group (ABG) and its investment arm in Egypt, announced that net income jumped by 21 per cent in first quarter of this year, compared with the same period last year.

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Rolls-Royce sales surge 40pc in Bahrain

Sales of Rolls-Royce Motor Cars in Bahrain have risen by 40 per cent during the first quarter of the year, according to Euro Motors, the sole authorised dealership for the ultra-luxury motor car brand. A statement said the success

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Seef profit surges 27pc to $5.2m in Q1

Seef, previously known as Seef Properties, has reported a 27 per cent surge in net profit at BD1.99 million ($5.28 million) for the first three months of this year when compared with BD1.563 million in the same period last year. S

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