Wednesday 1 July 2015
 
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Adnoc cuts Ruwais refinery run rates after start-up problems

State-owned Abu Dhabi National Oil Co (Adnoc) has lowered the operating rate at its newly expanded Ruwais refinery to about 50 per cent after a new unit encountered start-up problems, industry sources said.   The

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IMF sees moderate, uneven global growth

The International Monetary Fund highlighted an increasing divergence in the growth paths of the world's major economies this year, as a pick-up in the Euro Zone and India is expected to be offset by diminished prospects in other key emerging

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IMF sees low potential growth around world

The world's growth potential took a big hit after the 2007-2009 financial crisis and is likely to lag for years, implying that interest rates should likely stay low for quite a while, the International Monetary Fund said in a study on Tuesda

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Gulf banks show solid growth, despite low interests

Gulf banks have shown healthy earnings growth over the last year and a half despite historically low interest rates, according to a new Standard & Poor’s Ratings Services report. The report titled ‘Economic Recover

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Egypt raises key rates days after subsidy cuts

Egypt's central bank raised key interest rates on Thursday in what was seen as an attempt to curb inflation pressures less than two weeks after the government slashed subsidies on fuel and electricity. The central bank raised

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Mobily launches ‘Hala International’ package

Saudi Arabia-based telecom operator Mobily has launched the ‘Hala International’ package with new exclusive features, benefits and best international calling rates in the kingdom.   The package will e

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Drug firm to supply medications at lower rates

An international drug manufacturer has reportedly agreed to continue supplying medications to Bahrain, after agreeing to lower pharmaceutical rates imposed by the government.  

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Egypt central bank 'to keep interest rates on hold'

Egypt's central bank will keep interest rates on hold next Thursday as it balances the need to fight inflation while supporting the currency and stimulating an economy battered by more than three years of upheaval, a Reuters poll showed.

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Lower internet rates 'will boost smart govt adoption'

Lower rates of Internet service will broaden the adoption of UAE’s smart government services, accoding to ICDL GCC Foundation, an organisation that promotes digital skills and cyber safety across the Gulf region and Iraq. &n

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Egypt banks to stick to non-USD forex rates

The Egyptian central bank has instructed banks to 'strictly conform' to prevailing international market rates in trading of non-US dollar foreign currencies, according to a statement seen by Reuters. "Kindly note that

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