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RAK signs new exploration agreement |
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 The government of Ras Al Khaimah has sealed a concession agreement with RAK Petroleum Al Khaleej Limited, a wholly-owned subsidiary of RAK Petroleum, granting the company a 25-year petroleum concession in the emirate.
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Cavotec in Airbus techno breakthrough |
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 Cavotec, a leading supplier of innovative power solutions, and leading airport equipment innovator, said it has completed a two-week series of intensive trials of its patented 'PCAir Caddy' with leading aircraft manufacturer Airbus.
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Caparol completes Khalidiya Mall project |
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 Caparol, the producers of high quality exterior and interior paints, enamels, glazes and structural coatings and a partner of Emaar Industries & Investments, has completed the stone finish paint project on Abu Dhabi’s Khalidiya Mall.
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Dubai real estate distress sales rise |
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 Dubai's property sector suffered a series of blows this week after brokers confirmed a rise in distressed sales, a real estate guide downgraded its rating on residential property and an Islamic lender suspended new loans.
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Dubai shopping spree comes to halt |
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 Some big Dubai retailers, accustomed to giddy spending in the Gulf Arab tax-free haven, are grappling with a drop in sales as consumers worry about the impact of the global financial crisis on their wallets.
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The King Fahad Causeway General Authority 2009 budget has been raised by 67 per cent, according to top Bahrain government officials.
Bahrain-based Gulf Air plans to return to profitability by 2010 as the massive turnaround programme the airline is undergoing starts to pay off, its chief executive said.
Local medical experts have called for more health research in the region, to make new drugs more effective for local patients.
Oman's telecom regulator has confirmed that Nawras, the Omani affiliate of Qatar Telecommunications Co (Qtel), had won a licence to set up Oman's second fixed-line network.
Malaysia's central bank has awarded two foreign currency Islamic banking licences to companies in Kuwait and Indonesia.
A new committee will attempt to tackle the impact of the global financial crisis on Dubai's economy, as the emirate struggles to maintain investor confidence amid concerns about transparency.