Saturday 27 December 2014
 
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Housing prices in Saudi to plunge 30pc

The housing prices in Saud Arabia will fall about 30 per cent due to falling oil prices, distribution of more low-cost homes and the imposition of Zakat on vacant land, said a report. The real estate developers and owners are faci

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New orders fall at OCI's construction arm

Amsterdam-listed OCI NV , the Egyptian construction, chemicals and fertiliser company, has announced a fall in orders at its building business ahead of plans to list it as a separate company. The company also said it had taken pro

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Oil falls to $85 on strong dollar, oversupply

Brent crude oil fell by more than a dollar to around $85 a barrel on Friday as a firmer dollar and a well supplied oil market pushed the benchmark towards its steepest monthly decline since 2012. The dollar rose to its highest lev

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Oil in 'technical graveyard' facing deeper rout

World oil prices are on the brink of sliding another $10 or more, according to chart analysts who say the over 20 per cent drop since June has wiped out key support levels and left behind a "technical graveyard".  

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Brent steady under $109, set for 2nd weekly loss

Brent nudged higher to hover just under $109 a barrel on Friday, but was set to post a second straight weekly fall on easing Ukraine tensions and ample supply.   Optimism that monetary stimulus in the euro zone w

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UAE’s PC market suffers a setback in sales

The UAE’s personal computer (PC) market has suffered a 13.76 per cent fall in sales as vendors were focusing more on tablets and smartphones in the first quarter of this year, said a report.   The laptop an

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Brent oil drops below $109

Brent crude oil futures fell for a second straight session on Wednesday, dropping below $109 a barrel on easing fears that Russia's incursion into Ukraine could lead to war. Brent is now almost $4 below a two-month high hit at

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IHG shares fall on lack of cash payout, higher costs

Shares in InterContinental Hotels Group fell on Tuesday as a failure to announce a return of cash to shareholders and higher-than-expected costs for 2014 eclipsed a 10 per cent rise in 2013 profit. The firm, which declined to comm

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Brent falls toward $107 on Iran nuclear deal

Brent crude edged lower toward $107 a barrel on Monday after six nations struck a fresh six-month deal with Iran to curb its nuclear programme and US President Barack Obama urged Congress not to impose additional sanctions on the country.

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F-16 jet delivery to Iraq on track for next fall

The delivery of F-16 fighters to Iraq is on track for next fall, a senior US administration official said on Wednesday, with Iraq recently depositing an installment of roughly $650 million for the jets. The official said the issue

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