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As economy worsens, Lebanese juggle dizzying rates for devalued pound
When Caroline Sadaka buys groceries in the Lebanese capital Beirut, she keeps her phone in hand – not to check her shopping list but to calculate the spiralling costs of goods now priced at volatile exchange rates that vary by store and…
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UAE, China review boosting joint investment opportunities in new economic sectors
Abdullah Ahmad Al Saleh, undersecretary of the Ministry of Economy in the UAE, met Zhang Xiangchen, China's deputy international trade representative, on the sidelines of the economic forum in Dubai.
The two talked about expanding joint…
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Lebanon central bank chief denies financial misconduct
Lebanese central bank governor Riad Salameh maintained his innocence Friday following a second day of questioning before European investigators in Beirut as part of a probe into his personal wealth.
Salameh, 72, is part of the Lebanese…
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UBS in talks to buy embattled Swiss rival Credit Suisse, FT says
UBS Group AG is in discussions to take over all or part of Credit Suisse, the Financial Times reported on Friday, after an emergency funding lifeline failed to restore investor confidence in the smaller Swiss bank.
The boards of…
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Saudi crude production rises as global trends hits 7-month low: JODI Data
Saudi Arabia’s crude production rose by 18,000 barrels per day to 10.45 million in January, while global crude production fell for a third consecutive month to a seven-month low, according to the latest data from the Joint Organizations…
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UN backs Turkiye, Ukraine in call for 120-day grain deal rollover
The United Nations backed Turkiye and Ukraine on Thursday by calling for a 120-day rollover of an agreement allowing the safe export of grain from several Ukrainian Black Sea ports after Russia said it would only extend the pact for 60…
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Credit Suisse to borrow $54bn from Swiss central bank
Swiss bank Credit Suisse said it will move to shore up its finances, borrowing up to $54 billion from the central bank after its shares plunged, dragging down other major European lenders in the wake of bank failures in the US, according to…
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UK launches multi-billion pound package to coax people back to work
British finance minister Jeremy Hunt on Wednesday launched a multi-billion pound package aimed at getting people back into work by expanding access to childcare, reforming pensions and overhauling the welfare system.
A depleted pool of…
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EU seeks closer energy ties with Algeria
The European Union’s foreign policy chief Josep Borrell on Monday during a visit to Algeria called for stronger energy cooperation with Africa’s top gas exporter as well as enhanced security ties.
About “90 percent of Algerian gas…
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Expo City Dubai launches first phase of sustainable residential development projects
Expo City Dubai has launched the first phase of its new sustainable residential developments, Emirates News Agency reported.
Expo Valley and Expo Central are an essential part of the Dubai 2040 Urban Master Plan, incorporating…
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