Tuesday 24 May 2016
 
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China April exports, imports decline more than expected

China's exports fell more than expected in April, reversing the previous month's brief recovery, as weak global demand weighed on trade out of the world's second-largest economy. Exports fell 1.8 per cent from a year e

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Opec cuts unlikely before US, Russia, Iraq reduce output

The Organization of Petroleum Exporting Countries (Opec) is unlikely to cut production to support oil prices until it sees output declines in the US, Russia and Iraq, an energy consultant said.   Oil has risen ab

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Saudi cbank net foreign assets drop 3.1pc

Net foreign assets at Saudi Arabia's central bank declined 3.1 per cent in December from the previous month to SR2.283 trillion ($609 billion), the central bank said on Thursday.   Assets dropped 15.9 per cen

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Umrah pilgrim numbers drop 10pc

Makkah has registered a 10 per cent drop in the number pilgrims performing Umrah this season, receiving 1.8 million pilgrims compared to two million during the same period last year, said a report. According to Abdullah Ghadi, deputy he

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Egypt's Suez Canal revenue drops to $449m in Sept

The revenues of Egypt’s Suez Canal declined to $448.8 million in September, from the $462.1 million in August, according to data released by the Suez Canal Authority (SCA). The figure marks a 2.87 per cent decline ($13.3 mil

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UAE hotels see occupancy rates decline

Four- and five-star hotels in Dubai suffered the effects of falling demand in June with occupancy levels dropping 9 per cent to 68.4 per cent, reports showed. Average room rates (ARR) fell 2.1 per cent to $206.35 during the month and re

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Gold up on softer dollar, but set for biggest weekly drop

Gold rose on Friday as the dollar's rally stalled ahead of US inflation data, but it was still on course for its biggest weekly decline in four weeks. Spot gold rose 0.5 per cent to $1,211.98 an ounce by 1001 GMT. It was down

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Gulf Hotels Group posts $8m profit in Q1

Gulf Hotels Group has reported a slight decline in revenues for the first quarter this year, when compared with the same quarter last year. Total gross operating revenue was down by BD176,721 ($465,484) or 1.97 per cent to BD8.795

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Drilling decline inevitable as oil price remains low

Onshore drilling is set to decline 20 per cent this year, resulting in the smallest annual production growth for six year at just one per cent, according to a report. The first quarter 2015 edition of Douglas-Westwood’s (DW)

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Drilling decline inevitable as oil price remains low

Onshore drilling is set to decline 20 per cent this year, resulting in the smallest annual production growth for six year at just one per cent, according to a report. The first quarter 2015 edition of Douglas-Westwood’s (DW)

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