Zawya.com - Top Regional News
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Kuwait Projected To Post KD2 Billion In Surplus
The state budget of Kuwait is projected to post KD2 billion in the end of the current fiscal year, provided prices of oil remain hovering around the level of USD 35-40 per barrel in the next three months, according to a national think tank.
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'Adoption Of GCC-Wide VAT Under Study'
Oman is studying the viability of implementing a value-added tax (VAT) in tandem with a GCC plan to jointly introduce a new tax levy to compensate for revenues lost as a result of their customs union and the free trade agreements under discussion with a number of countries and economic blocs.
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Developers In Dubai Get Ranking
Dubai's Real Estate Regulatory Agency (RERA) is to introduce a new system that will rank property developers according to their financial stability and experience, according to media reports.
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UN Security Council Fails To Agree On Gaza Ceasefire Call
The UN Security Council late Saturday failed to agree on a statement calling for an immediate ceasefire in the Gaza Strip in the wake of Israel's ground invasion of the Palestinian territory that had sparked worldwide condemnation.
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Gulf GDP To Grow 2.5% In 2009
The economies of the Gulf oil producers are expected to contract in nominal terms in 2009 because of lower crude prices but real gross domestic product is projected to record positive growth, according to an international analyst.
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Explosions Shake Gaza As Israeli Troops Roll In
Explosions shook the Gaza Strip and fires lit up the night skies as Israeli ground forces surged into the battered Palestinian enclave late Saturday following a week of air and naval raids.
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Saudi Arabia Inflation To Decline In 2009
The year 2009 augurs well for Saudi Arabia's economy, at least in terms of reining in record high inflation. Backed by empirical data, regional bankers say that inflation in the Kingdom is set to fall this year.
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UAE Markets Closed On Sunday
The Emirates Securities and Commodities authority also announced its closure on Sunday, due to the mourning period.
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UAE 'Easiest Country To Trade With In Region'
The UAE was ranked as the easiest country to do trade with in the Middle East, The World Bank's report Doing Business in the Arab World 2009 said.
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GCC: Shortage Of Qualified Employees, Inflation Raise Concerns
Outsourcing spend in the Gulf countries is expected to touch $503 million (Dh1.84 billion), an increase of 21.8 per cent compared to $413 million (Dh1.51 billion) in 2008 despite the ongoing financial turmoil and stiff competition, said an industry expert.
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Turbulent Year Likely For UAE's Banking Sector
The UAE's banking sector, which witnessed a dramatic turn of events from the end of the first half of 2008, is headed into a tumultuous year.
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UAE: Settlement Angers Sacked Workers
Employees of a major private real estate developer who were laid off last month due to the financial crisis claim that the final settlement given by the company is not in accordance with the labour law.
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Kuwait: 'Investigate Dow, Refinery Projects'
Some Kuwaiti officials close to the MPs have been drawing parallels between the Dow Chemical project and the fourth refinery project.
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Prices of Essential Commodities Likely to Drop by 25 percent
Hypermarkets and co-operative societies in the UAE are considering 25 per cent reduction in the prices of most of commodities following a slump in petrol and diesel prices in the international market.
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RAK Airport Sacks Workers
The services of some of the professional and non-professional employees at Ras Al Khaimah International Airport have been terminated in the wake of the global financial turmoil which has affected the aviation industry.
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Israeli Assault On Gaza Enters 2nd Week With No End In Sight
Israeli warplanes continued to pound Gaza on Saturday as the assault on Hamas entered its second week, with the Islamist group's leader warning of a "black destiny" if ground troops are sent in.
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Construction Deals In UAE Plunge 85 Percent
The value of construction contracts awarded in the UAE fell by 85 per cent in the final quarter of last year compared to the same period a year earlier, according to a report.
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Ruler Of UAE Emirate Of Umm al-Qaiwain Dies
Sheikh Rashid bin Ahmed al-Mualla, ruler of the emirate of Umm al-Qaiwain, died on Friday, the official WAM news agency reported.
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UAE: 'This Year Is Going To Be Challenging'
Globally, the year 2008 will be remembered for all the wrong reasons. Be it bankruptcies, bailouts or bad predictions, the financial landscape has been littered in the past 12 months with unwanted souvenirs.
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UAE: Construction Deals Plunge 85 Percent
The value of construction contracts awarded in the UAE fell by 85 per cent in the final quarter of last year compared to the same period a year earlier, according to a report.
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