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BUSINESS
| Oman Air reports $144m loss in 2011 |
| DUBAI - Oman Air, the sultanate’s state- owned carrier, posted a loss of 110 million rials ($144 million) last year as fuel-price increases hit earnings, the company said in an e-mailed statement. |
| Abu Dhabi to host 40th meet of FGCCC |
| Abu DHABI - Abu Dhabi will host on Monday the 40th meeting of the Federation of GCC Chambers of Commerce and Industry, (FGCCC). The meeting will be chaired by Khalil Al Khonji, President of Federation in the presence of Dr Abdullatif Al Zayani, Secretary General of the Cooperation Council for the Arab States of the Gulf. |
| Energy crisis hits exports |
| The deepening and widening energy crisis has assumed such grave proportions that it has started threatening the very existence of the already politically beleaguered government. |
| Why P-notes are so special |
| Just at a time when the upa government is chasing tax money even from rents paid on housing, the finance minister Pranab Mukherjee has declared that Participatory Notes (P-Notes) will not be taxed. |
| China, Japan may help EU |
| TOKYO — Japanese and Chinese finance ministers on Saturday agreed to cooperate over contributions to the International Monetary Fund amid efforts to help subdue Europe’s sovereign debt crisis. |
| Pak food brands set to make UAE foray |
| DUBAI — Pakistan’s food industry is poised to lead in the UAE market as major brands are expected to make forays into the country this year, Khaleej Times has learnt. |
| Fujairah oil terminal to begin operations in Oct |
| DUBAI — Gulf Petrochem Group, a leading player in oil sector, is confident to launch operations at Fujairah oil terminal project in October this year, its top official said. |
| Seasonal demand aids Hertz expansion |
| DUBAI — Growing demand for seasonal car rental services from business professionals and long-term UAE residents is helping drive the expansion plans of Hertz UAE into local communities. |
| Saudi shares fall on Europe risk |
| RIYADH — Saudi shares on Saturday dropped for a second day on speculation this year’s rally was overdone amid concern Europe’s debt crisis will weigh on global economic growth and after Almarai Company reported lower-than-expected earnings. |
| Joyalukkas opens in Oman |
| DUBAI — Joyalukkas the world’s largest jewellery retail chain has opened its first Joyalukkas Centre in Ruwi, Muscat. |
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