Economy
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Japan awards defense equipment maker Mitsubishi Heavy 2.8 bln missile contracts
Japan has awarded its largest defense equipment maker Mitsubishi Heavy Industries contracts worth 378 billion yen ($2.84 billion) to develop…
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Egypt’s headline inflation rate increased to 32.7 percent in March
Egypt’s annual urban consumer inflation rate in March climbed to 32.7 percent year-on-year, just shy of an all-time record, from…
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US job creation slows but unemployment stays low
The jobs boom in the US slowed last month but the unemployment rate remained low, as the world’s largest economy…
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Saudi TV show offers glimpse into 2020 oil war with Russia
Saudi Crown Prince Mohammed bin Salman’s order to flood oil markets three years ago during a dispute with Russia ultimately gave the…
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UAE bank ADCB denies it is in talks to sell $3.7 bln of bad loans
Abu Dhabi Commercial Bank PJSC (ADCB) is not in talks with funds to sell 13.5 billion dirham ($3.68 billion) of…
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Turkey tightens rules on FX deposits in new move to support lira
Turkey’s central bank on Friday tightened regulations deterring banks from holding foreign currency as the lira comes under pressure. The…
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Ukraine credit rating pushed further into junk by S&P
Ukraine’s credit score was cut on Friday by S&P Global Ratings after the government unveiled a plan to restructure its…
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Russia-Ukraine war: Rouble tumbles to lowest in a year
The Russian rouble has suffered its biggest intraday fall of the year as it tumbled to the lowest levels against…
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Abu Dhabi Commercial Bank in talks to sell $3.7 bln of bad loans: Report
Abu Dhabi Commercial Bank PJSC (ADCB) is in talks with funds to sell 13.5 billion dirham ($3.68 billion) of bad…
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Zara, Bershka owner gets approval to sell Russian business to UAE’s Daher
Inditex SA, which runs the Zara and Bershka clothing chains, obtained approval to sell its business in Russia to Daher…
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