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UAE Can Maintain Fiscal Surplus at $23 Oil

DUBAI - UAE will be able to tide over the the global economic melt-down as the country is well-positioned to maintain fiscal surplus in 2008 and 2009 since it has the lowest “break-even oil price” in the GCC of $23 (Dh84.48) per barrel against the IMF’s baseline petroleum price projection of $68 per barrel for 2009, a report by Abu Dhabi Commercial Bank (ADCB) said.

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Dubai Awards Dh4.9b Contract for C3 Project

DUBAI - Construction of the Dubai Airport’s Dh4.9 billion Concourse 3 (C3) project for the Department of Civil Aviation (DCA) has been awarded to the joint venture of Al Habtoor Engineering (40 per cent), Murray & Roberts (40 per cent), and Takenaka (20 per cent) HMRT respectively.

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