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Saturday, 14 September 2013

Estimated 1,500 turn out for demo against closure of Russian aluminum smelter | Russia Beyond The Headlines

Estimated 1,500 turn out for demo against closure of Russian aluminum smelter | Russia Beyond The Headlines:

"An estimated 1,500 people held a demonstration on Saturday against the planned closure of Bogoslovsk Aluminum Smelter, the facility's trade union leader said.
The protesters were mainly workers from the smelter, which is located in the town of Krasnoturyinsk, and other local people.
They marched along one of the town's main streets to a square.
On the square, they held a rally during which they approved appeals to the Russian government and Sverdlovsk region administration to support the region's aluminum industry and reduce electricity prices for it, the smelter's union leader, Nikolai Prokofiev, told Interfax."

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UAE economy back on sustainable growth path, say experts |

UAE economy back on sustainable growth path, say experts |

"The UAE economy suffered a sharp downturn following the collapse of US investment bank Lehman Brothers five years ago, which led to a full-blown global financial crisis and worldwide recession. Since then, the economy has bounced back but the hard lessons from the crisis are well learnt, say experts.
“Economic activity (in the UAE) has been picking up steadily since the trough in 2009 when economic activity contracted by -4.8 per cent. 2010 saw a return to positive growth of +1.7 per cent. Real gross domestic product (GDP) growth rose to 3.9 per cent in 2011 and 4.4 per cent in 2012,” Giyas Gokkent, chief economist at National Bank of Abu Dhabi (NBAD), the emirate’s largest bank by assets and market capitalisation told Gulf News.
Gokkent said the UAE’s average real GDP growth was 1.6 per cent per annum between 2008 and 2012, significantly below the long term average. The average growth rate between 2002-2012 was 4.2 per cent per annum, while the average non-oil real GDP growth was 1.9 per cent per annum between 2008 and 2012, he added."

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Azarov: Shale gas to cost Ukraine $400 less than Russian gas| Ukrinform

Azarov: Shale gas to cost Ukraine $400 less than Russian gas| Ukrinform:

"Shale gas extraction in Kharkiv and Donetsk regions will help Ukraine get its own gas at a price of $120-130 dollars per 1,000 cubic meters, or $400 cheaper than its current purchase from Russia.
Ukrainian Prime Minister Mykola Azarov said this during the Shuster Live program on the Inter TV Channel late on Friday.
"From 2015, we will be able to get gas at a price of 120-130 dollars with all costs included," he said.
In this context, he said that now Ukraine, given an agreement on the presence of the Russian Black Sea Fleet in Crimea, purchases Russian gas at a price of $530 per 1,000 cubic meters.
"There is no such price in the world market," he said.
Azarov also expressed hope that Ukraine would gain some energy independence thanks to shale gas extraction in Kharkiv and Donetsk regions, which could begin in 2015."

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BBC News - IMF warns Dubai after 30% increase in property prices

BBC News - IMF warns Dubai after 30% increase in property prices:

"The IMF has warned Dubai that another property bubble may form if it does not curb its rapidly growing property prices.

They rose by 30% in the first six months of the year.

Over-inflated prices crashed by more than 50% in 2009 and 2010, triggering a corporate debt crisis.

Howard Johnson reports.


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Moscow Seen ‘Losing’ Ukraine And Belarus Just As It Earlier ‘Lost’ The Baltic Countries - Kiev Ukraine News Blog

Kiev Ukraine News Blog:

"By pursuing the short-term profit goals of Russian oligarchs out of the conviction that this will promote Russia’s interest rather than considering the possible impact of such an approach on Russian national interests, Moscow is alienating Ukraine and Belarus, two Slavic neighbors it has long viewed as its inevitable allies and possibly more.

Consequently, some analysts are now saying Russian may “lose” these two countries just as it did Estonia, Latvia, and Lithuania, the three Baltic states now firmly part of the North Atlantic Treaty Organization (NATO) and the European Union.

In his August 29 Nezavisimaya Gazeta article, Kost Bondarenko, the director of the Institute of Ukrainian Policy, notes that many experts are calling Russia’s approach to Ukraine at present “an economic war” and some are even suggesting that what the Kremlin is doing reflects “the imperial essence of official Moscow.”"

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Abu Dhabi investment group in UK tieup

Abu Dhabi investment group in UK tieup:

Abu Dhabi Autonomous Systems Investments (ADASI), a provider of autonomous systems for air, land and sea use and a unit of Tawazun Holding, has signed a five-year product development and marketing agreement with UK-based Icarus Training Systems.

As per the agreement, ADASI will be primarily responsible for sales in the Men and South Asian region and Icarus for the rest of the world.

The Abu Dhabi group has also undertaken to procure aerostat envelopes from Icarus.

Since 2011, the Abu Dhabi group and Icarus have been co-operating on the development and integration of an aerostat system for an ADASI client, said a company statement."

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World Expo 2020: Successful Dubai bid will bolster UAE economy |

World Expo 2020: Successful Dubai bid will bolster UAE economy |

Two senior officials have expressed their optimism for Dubai’s bid for the World Expo 2020. The emirate is one of the bidding cities for the landmark event.
Maintaining that the submission had more than a strong chance of being recognised by the panel, Sultan Bin Saeed Al Mansouri, Minister of Economy, told Gulf News: “A successful bid for the Expo would infuse the local economy with new energy in the coming years. We expect that the event will trigger significant employment generation as well as trade and investment opportunities.”
Hilal Saeed Al Merri, Director General of the Department of Tourism and Commerce Marketing and CEO of the Dubai World Trade Centre, said, “The bid’s sub-themes are Sustainability: intelligent sources of energy and water; Opportunity: new paths of economic development, and Mobility: new systems of logistics and transportation."
"As these sub-themes are globally relevant, Expo 2020 in Dubai will explore the drivers of growth and aim to find solutions to the world’s most pressing challenges through discussion, innovation and collaboration," Al Merri said."

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Kuwait delays summit to investigate Turkish companies | Economy | World Bulletin

Kuwait delays summit to investigate Turkish companies | Economy | World Bulletin:

"The Kuwaiti Ministry of Finance has announced that the Kuwait Real Estate Summit, which was planned for Sept. 17-18, has been postponed pending an investigation of participating Turkish real estate companies.
The summit was organized by International Real Estate Management (INREMA) and the Dubai-based AYN Group Companies. The summit also received support from the Turkish government, which is giving incentives to Turkish companies to promote themselves abroad; the government paid half of each company's $25,000 registration fee.
According to news reports, the Kuwaiti ministry said in a statement sent to the summit's organizers that some Kuwaiti real estate investors had been the victims of fraud, and that some Kuwaiti buyers who made down payments were unable to recover their money. According to the ministry, the investigation is being carried out to protect Kuwaiti real estate buyers, who make a large number of property investments abroad."

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Moldova: Will the EU spread to the Dniester? |

Moldova: Will the EU spread to the Dniester? | European news, cartoons and press reviews:

The Bendery border crossing between Transnistria and Moldova - Dieter Zirnig 
When it signs an association agreement with the European Union in November, Moldova is hoping to draw the pro-Russian breakaway province of Transnistria in its wake — a situation that has prompted fears of a fresh outbreak of violence on the banks of the Dniester.

Nicolae Ţibrigan
“Attention! You are leaving the European sector” warn signs posted in Varniţa. Recent troop movements in this border village have revived fears of another conflict on the Dniester. Let’s not forget that Transnistria harbours, in Cobasna to be precise, the largest conventional weapons depot in eastern Europe. Furthermore, the Russian gas pipelines that supply Romania and Bulgaria pass through Transnistria, where they are managed by Tiraspoltransgaz, a company controlled by Gazprom.

In Chişinău there is talk of resolving the conflict with the breakaway province within the framework of Moldova's integration process into the EU. On the west bank of the Dniester, this seems to be an ideal solution – a trajectory that will make Chişinău more attractive to the east bank. What does this attraction entail?"

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Saudi Gazette - Western sanctions continue to inflict fresh damage to the Iranian economy

Saudi Gazette - Western sanctions continue to inflict fresh damage to the Iranian economy:

"Dubai’s non-oil trade with Iran shrank 12 percent in the first half of 2013, a sign that Western sanctions continue to inflict fresh damage on the Iranian economy, data showed on Thursday.

Dubai, across the Gulf from Iran and home to tens of thousands of ethnic Iranians, has long been a major commercial hub for the Iranian economy, re-exporting consumer goods from other countries to Iran.

This role suffered after US financial sanctions, imposed in late 2011 over Iran’s disputed nuclear program, caused banks in Dubai and around the world to cut back sharply on Iran-related business."

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