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An energy crisis causes the euro to slump to two-decade lows
A record two-decade low in the euro was recorded on Tuesday as renewed concerns over an energy shock pushed inflation higher and made Europe more likely to become recession-prone. The…
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British economy shrank record 11 percent in 2020, its lowest since 1709
Updated official figures published on Monday showed that Britain recorded its biggest drop in output in more than 300 years as it faced the brunt of the COVID-19 pandemic in 2020,…
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169 percent increase in UAE investments in Egypt in six months
According to the Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS), Emirati investments increased by 169.1 percent during the first half of the fiscal year…
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Preliminary agreement between Sri Lanka and the IMF is expected
In a statement, the head of Sri Lanka's central bank said that he hopes that the government can reach a preliminary agreement with the International Monetary Fund (IMF) that might lead…
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In 2022, Arab countries will grow at 5.4 percent – Arab Monetary Fund
As a result of rising oil prices, the increase in production in Arab oil-exporting countries, and continuing reforms that promote growth, the Arab countries are expected to grow at 5.4…
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Saudi wealth fund PIF purchases Alphabet, Zoom, and Microsoft shares
A broad selection of US stocks was purchased by Saudi Arabia's Public Investment Fund (PIF), bringing its investment portfolio's value to about $40.8 billion at the end of the second…
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King Abdulaziz Port in Dammam, breaks container throughput record in June
By handling 188,578 TEUs during June 2022, the King Abdulaziz Port in Dammam, managed and operated by Saudi Global Ports (SGP), broke its own record set in 2015. In line with the…
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Indian commerce ministry develops an outreach strategy to boost agro exports
In order to achieve the current financial year's agro export target of over $23 billion, the Indian Commerce and Industry Ministry has developed an outreach strategy for agro exports.…
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Non-oil foreign trade in Abu Dhabi increased by 12 percent in H1 to AED124 billion
In the first half of 2022, Abu Dhabi's non-oil foreign trade totaled about AED124 billion, an increase of 12% over AED110 billion and 313 million recorded in the same period in 2020…
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With an AED1.8 billion deal, IHC buys 50 percent of Turkish Kalyon Enerji
Through its subsidiary International Energy Holding, International Holding Company (IHC) has acquired a 50% stake in Turkish clean energy market leader Kalyon Enerji for AED1.8 billion.…
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