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Frits Van Paasschen, President & CEO of Starwood Hotels & Resorts Worldwide, discusses the growth and value of his brands.
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NEW YORK, April 4- If you read just one book this spring to understand how the world is changing, it should be Mohsin Hamid's new novel, "How to Get Filthy Rich in Rising Asia." Asia's rise is a story of the eastward tilt of global gross domestic product, but behind those numbers are billions of individual lives that are being radically transformed.
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*Companies traditionally rely on bank loans. *Riyal sukuk issuance more than doubled last year- HSBC. DUBAI, April 4- After years in which the growth of Saudi Arabia's bond market lagged its economy, the market is taking off as local companies rush to issue debt- though low returns are keeping foreign investors on the sidelines.
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Saudi Aramco raised the official selling price for its main Arab Light grade for May to a premium of $1.80 a barrel over regional benchmark Oman/ Dubai crude, up from $1.30 for April cargoes, and the first increase in three months.
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NEW YORK-- Shares of Abercrombie& Fitch Co. rose Wednesday on optimism about its international expansion plans and focus on boosting profitability. THE SPARK: The teen clothing retailer said in its annual report filed late Tuesday that it plans to open Abercrombie& Fitch flagship locations in Seoul and Shanghai and about 20 international Hollister stores.
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DUBAI, April 3- Sudan hopes to collect up to $1.2 billion in transit fees in 2013 after oil starts to flow from South Sudan, and is considering a new tax on gold trade, Finance Minister Ali Mahmoud said on Wednesday.
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*Iraq economy booms, increasing savings. BAGHDAD, April 3- When a recent lecture for a group of Baghdad university students started with the question, "What is the Iraq Stock Exchange?"
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DUBAI/ KHOBAR, April 3- Saudi Arabia is unlikely to produce much shale gas this decade, hampered by scarce water and prices fixed far below production costs, but it has the reserves, the desire and the potential to become a shale giant one day.
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Canada was one of more than 30 countries, mostly Western, that benefited from a visa waiver the UAE offered to their citizens. Dubai carrier Emirates had been lobbying the Canadian government to boost its thrice-weekly direct flights to Toronto and more Canadian destinations, with support from the UAE government, but failed to gain greater access.
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Thousands of U.K. financial sector workers risk being frozen out of the industry unless they pass mandatory tests measuring their personal ethics and integrity.
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LONDON, April 2- Thousands of financial sector workers risk being frozen out of the industry unless they pass mandatory tests measuring their personal ethics and integrity.
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*Budget suggests Qatar now moving to implement it. DOHA/ DUBAI, April 1- Qatar plans to boost government spending by 18 percent to 210.6 billion riyals in the 2013/ 14 fiscal year that began on Monday, the QNA state news agency quoted Finance and Economy Minister Youssef Kamal as saying.
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*Portugal faces stiff competition for foreign investment. TORRES VEDRAS, Portugal, April 1- For Portugal to succeed in ambitions to reindustrialise its shrinking, debt-laden economy, it will not be down to the revival of mass manufacturing but to the sprouting of high-tech start-ups such as UAVision.
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DUBAI, April 1- Iran's inflation rate has climbed above 30 percent under the impact of international economic sanctions, according to figures released by the government's statistics centre.
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DUBAI, March 31- UK stocks of liquefied natural gas have swollen over the last week, data from National Grid shows, after three big Qatari deliveries helped replenish low heating fuel supplies during the coldest March in over half a century.
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ISTANBUL, March 29- Turkey exported almost $120 million worth of gold to Iran in February, data showed, suggesting the two countries' trade of gold for natural gas has resumed despite tighter U.S. sanctions, though at levels below last year's peaks.
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BERLIN, March 28- Europe's carefully maintained autobahns, high-speed TGV trains and vast network of modern airports have long been the envy of the world. We are not rejoicing, "said Harold Ruijters, who leads the Transport Commission's Trans European Network unit, which aims to connect Europe's fragmented railways, roads and airports.
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*Exports from China, India increase. Slowing growth in the region's largest importers of gasoil, such as Indonesia and Vietnam, and in major consumers, such as India and China, are swelling a surplus of the oil product, dragging down refining profits.
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TOKYO, March 28- U.S. crude futures hovered above $96 a barrel early on Thursday as markets awaited the reopening of banks in Cyprus to an expected flood of depositors after a harsh rescue deal to avert financial collapse.
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*Scars of property crash, corporate debt overhang remain. *Demographics, regulation still favour Dubai. DUBAI, March 27- Four kilometres off the coast of Dubai, more than 200 tiny, man-made islands bake under the sun.
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*Scars of property crash, corporate debt overhang remain. *Demographics, regulation still favour Dubai. DUBAI, March 27- Four kilometres off the coast of Dubai, more than 200 tiny, man-made islands bake under the sun.