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UAE current account surplus climbs fourfold in 2011

Published Date : 2012-05-19

Published By: Surgar5

DUBAI — The UAE’s current account surplus quadrupled to Dh112.7 billion ($30.7 billion) in 2011 as both crude and non-oil exports soared, the UAE Central Bank’s annual report showed. The surplus surged to 8.5 per cent of gross domestic product last year from 2.4 per cent, or Dh26.6 billion, in 2010, according to a Reuters calculation. The 2011 calculation is based on a GDP estimate by the International Monetary Fund since the UAE’s statistics office has yet to release GDP data for last year. The country’s 2010 balance of payments data has been revised. Last year’s outcome is smaller than the IMF estimate for a surplus of 9.2 per cent of ..... read

Bank governor warns of eurozone crisis 'storm'

published : 2012-05-17

The Bank of England has cut its growth forecast for this year to 0.8% from 1.2%, saying the eurozone "storm" is still the main threat to UK ..... read

US retail sales simmer down

published : 2012-05-16

Retail sales in the US rose in April at the slowest pace of the year, showing unseasonably mild weather and pre-Easter shopping may have pulled ..... read

Asian shares fall on Greece political uncertainty

published : 2012-05-15

Shares in Asia have fallen, taking their lead from Europe and the US, as political turmoil in Greece made investors seek less risky assets.Japan's ..... read

Yahoo chief executive Scott Thompson steps down

published : 2012-05-14

The chief executive of computer firm Yahoo has stepped down, amid accusations that a fake computer science degree was included on his CV.The ..... read

Yahoo chief executive Scott Thompson steps down

published : 2012-05-14

The chief executive of computer firm Yahoo has stepped down, amid accusations that a fake computer science degree was included on his CV.The ..... read

Emirates to fly high in ’12

published : 2012-05-12

Emirate airline will continue to post reasonable profit growth in 2012-13 despite eurozone debt crisis, slowing growth in many Asian markets and ..... read

GCC to benefit from rising oil prices

published : 2012-05-10

The Gulf Cooperation Council (GCC) looks well positioned to benefit from rising oil prices and strong demand from emerging markets, Standard & ..... read

Dubai firms remain upbeat on second quarter

published : 2012-05-09

Businesses across Dubai remain upbeat on growth and revenues in the second quarter, with a majority of employers intending to retain their employees, ..... read

Reforms key to EU growth

published : 2012-05-07

The contours of recession and recovery inside the EU will be drawn with forecasts this week and a quarterly snapshot next week, setting the landscape ..... read

Drydocks discusses water hotel location

published : 2012-05-06

Drydocks World, the shipbuilding arm of Dubai World, has discussed the location and size of its revolutionary Water Discus Hotel project with a ..... read

Drydocks discusses water hotel location

published : 2012-05-06

Drydocks World, the shipbuilding arm of Dubai World, has discussed the location and size of its revolutionary Water Discus Hotel project with a ..... read

Bolivia nationalises electrical grid

published : 2012-05-03

President Evo Morales announces final push in nationalising power sector by taking over SPresident Evo Morales has announced that his government is ..... read

Pakistan set to accord MFN status to India by year-end

published : 2012-05-02

An official announcement to declare India the Most Favoured Nation, or MFN, by Pakistan is expected by the end of this year, a top government ..... read

DP World posts 9.5% growth in Q1

published : 2012-05-01

DP World, the world’s third-biggest marine port operator, on Monday announced a dividend of 24¢ per share and said shareholders authorised ..... read

Facebook IPO puts bankers on back foot

published : 2012-04-29

(Financial Times) -- As Wall Street makes final preparations for the largest technology debut by value in history, it has also faced what some ..... read

Spanish economy in crisis after credit downgrade

published : 2012-04-28

Spain’s sickly economy faces a “huge crisis ”, as unemployment hit its highest level in almost two decades and S&P’s ..... read

Dubai sukuk sale raises $1.25b Dubai sukuk sale raises $1.25b

published : 2012-04-26

The Dubai government launched a $1.25 billion two-tranche Islamic bond, or sukuk, on Wednesday. The five and 10-year benchmark sukuk, backed by real ..... read

World stock markets rise after strong US earnings

published : 2012-04-25

World stock markets rose Wednesday after earnings from Apple Inc. and other U.S. companies blew past expectations, providing a distraction from the ..... read

Nestle to buy Pfizer Nutrition for $11.85bn

published : 2012-04-23

Food giant Nestle has announced a deal to buy children's food maker Pfizer Nutrition for $11.85bn (£7.35bn).The world's biggest food group, ..... read

Competition pushes Nokia into losses

published : 2012-04-19

Mobile phone company Nokia has reported a net loss of 929m euros ($1.2bn; £761m) in the first three months of 2012, following a profit warning ..... read

Yahoo sees profits rise 28% in first quarter to $286m

published : 2012-04-18

Struggling Internet firm Yahoo has seen its profit climb 28% in the first three months of the year.The California-based firm reported net income of ..... read
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