Monday 20 October 2014
 
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Salaries to grow 6-8pc in Mena region

Professional salaries are expected to grow by a healthy six to eight per cent in the Mena region this year, said a recent survey. The latest Morgan McKinley UAE Salary Survey Guide forecast that the region will focus on the infras

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Lifeline for Bahrain firms

Eight companies near the old GCC (Pearl) Roundabout, which were threatened with eviction last year if they didn't agree to rent hikes of up to 13-fold, have been thrown a lifeline. They could still face a minimal rent increase, but massiv

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Guardian hikes cover price by 20pc

Britain's loss-making Guardian paper, which has led the exposure of a phone-hacking scam at Rupert Murdoch's News of the World tabloid, is to hike its cover price by 20 per cent, making it the country's most expensive newspaper.

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UAE petrol price hike boosts Oman sales

Gasoline price hikes in the UAE have boosted sales in neighbouring Oman this year as motorists cross the border to fill up on cheaper fuel, and some have begun to resell it to UAE firms. "We make about 12 trips a week up and down. We buy 5

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RakBank gets investors' nod for $1bn EMTN

The National Bank of Ras Al Khaimah (RakBank) said it has won approval from shareholders to increase the limit of its Euro Medium Term Notes (EMTN) program from $500 million to $1 billion. In a statement posted on the Abu Dhabi Securities

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Sabic to hike steel rebar prices

State-controlled Saudi Basic Industries (Sabic) will raise prices of steel rebar and wire rod by SR100 ($26.7) per tonne as of Monday, the company said. Higher iron ore and scrap metal costs led to the increase, Sabic's vice-chairman f

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Arab Banking Corp plans $1.1bn capital boost

Arab Banking Corporation (ABC), a leading banking group based in Bahrain, said it plans to increase its paid up capital from $2 billion to $3.11 billion by way of a priority rights offering to existing shareholders. This will substantially

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LFB to boost HSBC unit stake to 70pc

The Libyan Foreign Bank (LFB) aims to hike its stake in HSBC affiliate British Arab Commercial Bank to 70 from 25 per cent and plans to raise its capital 10 times to $10 billion, the Oea daily reported on Tuesday. State-owned LFB has held

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GCC plans 200pc hike in tobacco tax

GCC health ministers could soon approve increasing tax on cigarettes and other tobacco products by 200 per cent, a top Bahrain health ministry official said. The tax had been proposed by several anti-smoking societies in the region in

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Gas prices may go up in Bahrain

Gas prices could still go up despite a decision by the National Oil and Gas Authority (Noga) last week to maintain current rates, it has emerged. Nader Gas, Bahrain Gas and Awali Gas all want to hike their prices by as much as 40 per cent,

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