UAE-based Hayatna, a joint venture between Abu Dhabi’s Exeed Industries and Vivartia, a food conglomerate in Greece, plans to launch new brands at the upcoming Gulfood 2014, a food and hospitality show in Dubai.
Brent crude oil gained on Wednesday, with investors awaiting the outcome of the meeting this week of the producer group Opec, while gains were capped by worries about Europe's debt crisis and prospects for oil demand.
Iran's oil exports ha
The world's biggest trade credit insurer, Euler Hermes, has stopped covering exporters shipping to Greece because of the mounting risk of them not getting paid in the event the debt-laden nation is forced out of the euro.
"Euler Hermes has
The euro plunged to a 21-month low against the dollar on Wednesday as investors dumped the currency on growing fears of a Greek euro zone exit and widespread doubts about the outcome of an EU summit later in the day.
The euro fell to $1.26
A Greek exit from the euro zone could expose the European Central Bank and the currency bloc it seeks to protect to hundreds of billions of euros in losses, landing Germany and its partners with a crippling bill.
A Greek departure would ta
Fears of a Greek exit from the euro zone worsening the debt crisis facing other European nations gripped financial markets on Wednesday, sending shares and other riskier assets lower as investors shifted funds into safe havens like the US dollar.
The euro fell heavily across the board on Monday after Greek and French elections cast doubt on politicians' commitment to austerity plans aimed at tackling the euro zone debt crisis.
Traders said losses, which saw the common currency
Gold rose for a second day on Tuesday, taking its cue from a brief rally in the euro after euro zone finance ministers struck a deal with Greece on its emergency funding, while silver shrugged off data that showed a steep drop in Chinese imports.
Gold prices held below $1,735 an ounce in Europe on Thursday, underpinned by gains in the euro as Greece edged closer to a bailout deal, although stock market fluctuations after a raft of disappointing corporate results kept a lid on gains.
Greek leaders failed on Thursday to agree on reforms and austerity measures needed to secure a bailout to avoid a messy default, forcing Finance Minister Evangelos Venizelos to go to the country's financial backers with an incomplete deal.