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The regional office at Dubai Knowledge Park, a hub for lifelong learning, will serve as a cultural ambassador, promoting hungarian heritage, Kecskemét's values, and Neumann's spirit of innovation in the region
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Egypt's SODIC H1 net profit down 94 percent
CAIRO - Egyptian property developer Sixth of October Development and Investment (SODIC) reported a 93.8 percent decline in net consolidated profit in the first half of 2008 to 7.2 million Egyptian pounds ($1.4 million), the stock exchange said on Sunday.
A statement from the company said that the company's accounting standards only recognised profits upon full completion of projects, "resulting in a lag between achievement of sales and the actual recognition of those sales and their accompanying returns in the income statement."
On Monday, Egypt's stock market regulator said it had approved a 5-million-pound capital increase by SODIC.
Shares of SODIC were trading 1.5 percent higher at 125.05 pounds per share by 0813 GMT.
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