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HuaweiMADRID - Spain sank into recession in the first quarter and economists said spending cuts aimed at meeting strict EU deficit limits together with troubles in the banking sector would delay any return to growth until late this year or beyond.
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Pakistan seeks to double its trade volume with the UAE to $26 billion in the next couple of years as it offers investment projects at the Annual Investment Meeting, or AIM, in Dubai today, its senior minister said.
An Australian billionaire said he’ll build a high-tech replica of the Titanic at a Chinese shipyard and its maiden voyage in late 2016 will be from England to New York, just like its namesake planned.
NEW YORK - US stocks and the dollar rallied on Tuesday after data showed US manufacturing grew in April at the strongest pace in 10 months, soothing recent worries about the economy.
Saudi Arabia’s benchmark stock index dropped to the lowest level in almost one week on speculation this year’s rally was overdone and as crude oil slipped in New York trading.
DUBAI - Dubai Airports continued its impressive form at the annual Business Traveller Awards held in Dubai, when it was awarded the ‘Best Airport in the Middle East’ for the sixth consecutive year.
LONDON - Gold prices have just fallen for three straight months, a dubious feat last achieved before the market’s 12-year bull run, but with last year’s positive drivers still simmering the lull could yet prove the basis for another push higher.
NEW DELHI — India’s exports grew 21 percent in the last financial year to beat the government’s target, data showed Tuesday, but the country’s trade deficit surged to a record high.
LONDON - Gold touched two-week highs on Tuesday, set for its longest stretch of daily gains in eight months, after a rally in the dollar fizzled out as investor concern escalated over the resilience of the U.S. and euro zone economies.
LONDON - Oil eased on Tuesday to trade under $119 a barrel due to worries that a sluggish economic recovery in Western economies together with below-expectations Chinese manufacturing data, could depress demand for fuel.