Friday 26 December 2014
 
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Dubai upbeat on project funding despite oil slump

Dubai is confident that it will be able to raise equity and debt to finance all its huge development projects over the next five years despite the plunge in oil prices, the head of the emirate's Department of Finance (DoF) said.

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Dubai upbeat on project funding despite oil slump

Dubai is confident that it will be able to raise equity and debt to finance all its huge development projects over the next five years despite the plunge in oil prices, the head of the emirate's Department of Finance (DoF) said.

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Non-oil companies back in spotlight

With crude oil prices hitting five-year lows, investors are scrambling to gauge the impact of the sharp drop in petroleum costs on companies beyond the energy sector, said a report. Determining the effects of the decline in commod

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Gulf states must cut spending amid oil price slump

Gulf oil exporters face inevitable spending cuts as weak oil prices cloud their economic outlook, Kuwaiti Finance Minister Anas al-Saleh said on Saturday. "We must undertake comprehensive economic reforms including the reform

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Oil output in Iraq's Kirkuk slumps 90pc

Oil output in Iraq's Kirkuk has slumped to 30,000 barrels a day since June, 90 per cent down on earlier this year, and a federal pipeline to the Turkish port of Ceyhan may be out of action for over a year due to sabotage, Kirkuk's govern

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Yansab profit drops 31pc on plant shutdown

Saudi Arabia's Yanbu National Petrochemical Co (Yansab) posted a 31 per cent slump in fourth-quarter net profit on Monday, citing a shutdown at its plant for the decline. The firm made a net profit of 442.2 million riyals ($11

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Al Khodari Q2 net profit slumps 43pc

Saudi construction firm Abdullah A M Al-Khodari Sons Co posted a 42.9 per cent slump in second-quarter net profit on Sunday, citing higher costs including from the kingdom's reforms to the labour market. The company made a net

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Oil slumps on global growth concerns

Oil fell sharply on Tuesday as concerns about slowing global economic growth, Europe's ongoing debt crisis and weak outlooks from corporations reporting earnings pressured oil and equities markets. Chemical company DuPont cuts

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Global manufacturing slumps over EU crisis

The downturn in the euro zone's private sector is becoming entrenched and Chinese factories are finding the going tough, business surveys showed yesterday, painting a darker outlook for the world economy. US manufacturing grew in June at i

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Emirates NBD Q1 net profit down 55pc

Emirates NBD, a leading bank in the region, said its net profit for the first quarter in 2012 was down 55 per cent to Dh641 million ($174.5 million) compared to the same period last year. The bank had made a profit of Dh1.413 bil

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