Sunday 20 April 2014
 
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Bahrain pharmas petition against price cuts

Bahrain's pharmacies have submitted a petition to the government against moves to slash the retail price of thousands of medicines. They were ordered to reduce their profit margins on around 5,000 products from yesterday, mean

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Qtel slashes Dawli overseas call rates

Qatar Telecom has unveiled a new range of options for its popular Dawli International Card, allowing customers to take advantage of lower rates when making overseas calls. The promotion will run for eight weeks across the summer, enab

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Oman to slash reliance on oil exports

Oman plans to drastically reduce its reliance on oil exports and double its income from industrial activities in the coming decade as the Gulf Arab region strives to diversify away from crude export revenues. The non-OPEC oil exporter aims

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Emaar plans more job cuts, slashes pay

Dubai-based property developer Emaar Properties is considering cutting 250 jobs as the real estate sector in the emirate suffers a severe downturn, said a report. The company has also slapped pay cuts of between 20 and 30 per cent on its e

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Emirates Co-op cuts basic commodity prices

Emirates Cooperative society has launched a novel promotion under which it will reduce prices of 60 basic commodities, mostly foodstuff, in its key branches at rates ranging from 25 per cent to 30 per cent till February 28. This move

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CBB slashes key policy rate by 75 basis points

The Central Bank of Bahrain (CBB) has cut its key policy interest rate by 75 basis points after reviewing the rate cut decision taken by the US earlier this week. The and is in line with the bank's policy of seeing that the dinar remains p

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Saudi slashes key rates ahead of Fed; UAE to opt out

Saudi Arabia slashed interest rates on Tuesday ahead of a US Federal Reserve policy announcement as it strives to boost liquidity but the United Arab Emirates said it would not ease rates for now. A global financial meltdown has put the br

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US consumers slash spending, world markets stabilize

Americans slashed spending and the country's business outlook weakened but there were signs of stabilisation in global markets on Friday, with interbank rates falling and US stocks posting their best week in 34 years. But in a sign of the

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Batelco slashes call rates for 123 Cards

Batelco has slashed international call charges to more than 200 destinations by up to 95 per cent for its 123 Card customers. This offer applies to 212 destinations, including India, Pakistan, the Philippines, Sri Lanka, Egypt, Syria, Cana

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Morgan slashes mortgage business,1000 jobs

Morgan Stanley said it will eliminate 1,000 jobs as it scales back its US residential mortgage operations and closes its British residential mortgage lending business, Advantage Home Loans. The New York-based company cited continued deteri

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