Dubai
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Home to the most extensive retail space on the planet, Dubai has the capacity to pack in the shops. But locals are also spending on luxury abroad, a lucrative opportunity as Desiree Bollier, CEO of Value Retail, explains.
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*Washington fears for key EU support in isolating Iran. *Iran hard hit by sanctions but finds way to elude them.
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*Washington fears for key EU support in isolating Iran. *Iran hard hit by sanctions but finds way to elude them.
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ABU DHABI/ DUBAI, June 19- When British banker Michael Tomalin took the top job at National Bank of Abu Dhabi in 1999, the lender had about $9 billion in assets- tiny by global standards- and its operations were largely confined to the oil-rich emirate of Abu Dhabi.
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TORONTO, June 18- Canada's Tim Hortons Inc is under mounting pressure from activist investors to boost shareholder value a few weeks before a new CEO takes over after a second hedge fund said it had amassed a big stake in the coffee and doughnut chain.
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DUBAI, June 18- Saudi billionaire Prince Alwaleed bin Talal says he is looking at the world's largest cities, including Shanghai, Moscow, London and New York, as possible locations to build a mile-high skyscraper that would be the world's tallest building by far.
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President Barack Obama sparred with Russia's Vladimir Putin over how to end the war in Syria on Monday during an icy encounter at a G8 summit where divisions over the conflict eclipsed the rest of the agenda.
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DUBAI, June 17- Tunisia may spend over a billion dollars to recapitalise its state-owned banks as the government struggles to stabilise the economy after the 2011 revolution, Tunisian authorities have told the International Monetary Fund.
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ABU DHABI/ DUBAI, June 17- The United Arab Emirates has revived a proposal to merge its two main stock exchanges in a state-backed deal that could boost trade in the local market and attract more foreign investment to the Gulf state, sources familiar with the plan said.
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LONDON, June 17- Even without a relaxation of the ban on U.S. crude oil exports, the ripples of the shale revolution have already reached Asia. More than half of Saudi Arabia's crude exports head to refineries in China and the rest of Asia.
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UDON THANI, Thailand, June 16- Steel girders jut from the low skyline of the Thai city of Udon Thani near the Laos border as workers lay cement for a new shopping mall, one of many illustrating a boom in the Thai economy beyond the bright lights of Bangkok.
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GENEVA- The death toll in Syria reached at least 93,000 at the end of April, but the true number from the violence now in its third year may be much higher, the United Nations human rights office said on Thursday.
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*Qatar c.bank gov says more flexible currency may become desirable. Five of the six oil exporters in the Gulf Cooperation Council- Saudi Arabia, the United Arab Emirates, Qatar, Oman and Bahrain- fix their currencies against the U.S. dollar under arrangements dating back as far as the 1970 s.
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DUBAI, June 12- After several sluggish years, mergers and acquisitions activity within the Middle East is showing signs of revival, giving hope to global banks which scaled back their regional operations because of a dearth of deal flow.
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LONDON- The dollar and world shares edge higher, clawing back some of Tuesday's steep losses as investors seek out bargains with one eye on central bank stimulus. (MARKETS-GLOBAL/, expect by 1300 GMT/ 9 AM ET, by Richard Hubbard, 570 words). LONDON- If currency turbulence in emerging markets escalates into full-scale investor flight, the U.S.
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*Oman should issue T-bills, set up govt issuance plan. DUBAI, June 12- Oman needs to contain state spending and raise non-oil revenue in the medium term to keep its fiscal balance sustainable, the International Monetary Fund said on Wednesday.
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Global trends a big factor for Turkey asset prices. As a result, investors may never again be as relaxed about political risk in Turkey as they were in the past year and further underperformance is likely. "Turkey is a classic example of absolute risk in investments.
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WASHINGTON- The Obama administration has launched an internal review to assess damage to U.S. national security from last week's leak of top-secret details of National Security Agency surveillance programs, a senior U.S. intelligence official said.
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Amira said that it earned $15.1 million, or 63 cents per share, for the fiscal fourth quarter that ended March 31. That's compared to $9.6 million, or 49 cents per share, last year. For the full fiscal year, the company said it earned $19.2 million, or 63 cents per share, compared with $11.9 million, or 49 cents per share, in the prior fiscal year.
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*Hardline leader sees Iran beset by foreign conspiracies. DUBAI, June 10- Five days from Iran's presidential election, these are nervy times for Ayatollah Ali Khamenei, who as only the second Supreme Leader in the Islamic Republic's 34- year history answers to God and not voters.
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The driver for Wednesday's jump in the premium to $3.75 a barrel was news that South Korea, the world's fifth-biggest crude importer, has boosted incentives for crude imports from regions other than the Middle East.
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