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Saturday, 22 June 2013

Ruble devaluation not to be expected - Russian presidential aide | Russia Beyond The Headlines

"Russia is not anticipating devaluation in the national currency in the near future, said Russian presidential aide Elvira Nabiullina, who is set to become Central Bank chairman on Monday.
"The ruble will fluctuate in dependence on market factors, and no serious devaluation should be expected," she said in an interview on the television program Vesti v Subbotu.
"The exchange rate strengthens and declines. It seems to me that the people have gotten used to it. In theory I believe in our national currency. The Bank of Russia and the Russian government drive a policy to enhance trust in the national currency," Nabiullina said."

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Foreign investment in UAE soars 25% to $9.6bn - Search - ArabianBusiness.com

"Foreign direct investment in Arab countries rose by nearly 10 percent last year despite the impact of the Arab Spring, a new report has said.
The Arab Investment & Export Credit Guarantee Corporation, also known as Dhaman, said in its annual report that FDI inflows increased 9.8 percent to reach $47.1bn, compared to $42.9bn in 2011.
Out of 20 Arab countries with available data for 2012, a total of 15 countries witnessed increases in FDI inflows, the report showed."

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Tackling Kuwait’s economic woes | GulfNews.com

"Last week’s ruling by the Constitution Court of ordering dissolution of the parliament and calling for a new election provides a fresh opportunity for addressing economic woes in Kuwait. It remains to be seen if the new legislative body would develop a functioning relationship with the government to tackle some serious economic issues facing the nation.
The election is due to take place on July 25, during the fasting month of Ramadan. The fasting month could start on 9 July. Accordingly, real campaigning should take place during evening hours after breaking the fast.
Interestingly enough, the election date would most likely convince some Kuwaiti families delay the customary summer holidays to after Eid. In retrospect, Iraq invaded Kuwait during the summer of 1990 when a large number of Kuwaiti nationals were vacationing abroad."

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