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<title>Textile City close to completion</title>
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<description><![CDATA[The Dhs300m Dubai Textile City will take another seven months to be fully functioning, merchant group Texmas has told Gulf News. The development, which is close to International City in the emirate, is almost three years late in delivery. The city will house 284 warehouses, with 130 currently earmarked for occupation. As well as warehouses, it will also have offices and showrooms, with many big merchants expected to relocate there.]]></description>
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<title>National Marine Q1 profit up 6%</title>
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<description><![CDATA[UAE-based National Marine Dredging Co said its first quarter profit rose 6% as it made a gain on finance income, reported Bloomberg. Net income rose to Dhs34.4m ($9.4m), or Dhs0.20 a share, from Dhs32.5m, or Dhs0.19, a year earlier.]]></description>
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<title>Binladen in $4.5bn Saudi project</title>
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<pubDate>Wed, 14 May 2008 09:31:10 +0400</pubDate>
<description><![CDATA[Saudi Arabia&#039;s Binladin Group is teaming up with Malaysia&#039;s MMC and the Aluminum Corporation of China (Chalco), China&#039;s top aluminium producer, for a joint aluminium project in the Kingdom, reported Khaleej Times. The project, to cost $4.5bn, includes an aluminium smelter plant and an equipped power plant in Jizan Economic City. The smelter will have an annual production capacity of 1 million tonnes.]]></description>
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<title>UAE&#039;s food processing sector worth $3bn</title>
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<description><![CDATA[The UAE&#039;s food processing industry was worth $3bn in 2007 and is growing at a rate of 11% a year, according to a report by the Dubai Chamber of Commerce and Industry. The report also said there were many investment opportunities in the sector, including new firm entrance, product diversification and plant expansion.]]></description>
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<title>Maaden to raise $2.46bn in IPO</title>
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<description><![CDATA[Saudi Arabian Mining Company (Maaden) plans to sell 50% or 462.5 million of its shares for SR9.25bn ($2.46bn) at an initial public offering in July, reported Arab News. The shares will be sold at the rate of SR20 per share, including SR10 premium, during the July 5-14 IPO.]]></description>
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