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UAE markets end slightly lower
The Dubai Financial Market ended the day slightly lower, dipping 1.31 points to finish on 5,685. Arab Insurance Group was day's big gainer, up 9.06%. Meanwhile, the Abu Dhabi Securities Exchange fell 9.26 points, or 0.18%, to close at 5,016.
United Arab Emirates: Thursday, May 15 - 2008 at 14:51

Global Investment buys 10% of Kuwaiti importer
Global Investment House, Kuwait's largest investment bank, has acquired 10% of National Co. for Consumer Industries, a Kuwaiti importer of consumer products, reported Bloomberg.
Kuwait: Thursday, May 15 - 2008 at 10:13

Workforce survey planned for UAE
The UAE's Ministry of Economy is launching a national survey to compile reliable statistics on the workforce in the country. The survey, which will begin on May 17, will be conducted against a representative benchmark of sample families across the UAE. Relevant data will be collected through field visits to these families.
United Arab Emirates: Thursday, May 15 - 2008 at 09:40

UAE trade surplus to hit $72.5bn
A new report by the International Monetary Fund said the UAE's current account balance is projected to grow by a record $24.2bn or 58% in 2008 to $65.9 billion while the country's balance of trade is set to jump 60% to $72.5bn in 2008, reported the Khaleej Times. In 2007, the UAE's current account balance rose by 16% to $41.7bn from $35.9bn in 2006. The surge in the current account balance was due to a record jump in exports of goods and services, analysts said.
United Arab Emirates: Thursday, May 15 - 2008 at 07:54

UAE stocks end mixed
The Dubai Financial Market on Wednesday lost 34.38 points, or 0.60%, to end the day on 5,686. United Foods was the day's big gainer, up 4.91%. Meanwhile, the Abu Dhabi Securities Exchange gained 3.96 points, or 0.08%, to finish on 5,026.
United Arab Emirates: Wednesday, May 14 - 2008 at 14:34

Kuwait declares 3 days of mourning
All public ministries and offices, banks and businesses in Kuwait will be closed for three days, beginning today, after former emir Sheikh Saad al- Abdullah al-Sabah died yesterday, reported Kuna.Kuwait has declared three days of mourning, starting today, Wednesday, after a former emir died, reported Kuna.
Kuwait: Wednesday, May 14 - 2008 at 14:28

Dubai Group sells stake in Egyptian firm
Dubai Group, a financial services company of Dubai Holding, said it has sold its 15% stake in Egyptian Fertilisers Company through its regional investment management company Dubai Capital Group. Dubai Capital Group sold the stake to Egyptian group Orascom Construction & Industries as part of a recent transaction between OCI and UAE private equity firm Abraaj Capital.
Egypt: Wednesday, May 14 - 2008 at 11:51

Kuwait Financing and Investment Q1 profit falls 37%
Kuwait Financing and Investment Co, a commercial and personal-financing company, has reported that its first-quarter profit fell 37%. Net income declined to 4 million dinars, ($15m), or 10 fils a share, from 6.3 million dinars, or 15 fils per share, a year earlier. The company did not indicate a reason for the profit loss, reported Bloomberg.
Kuwait: Wednesday, May 14 - 2008 at 09:09

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