Indian rupee hits all-time low

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Indian rupee hits all-time low

The Indian rupee plummeted to an all time low on Wednesday to 54.46 rupees to the dollar, or up to Rs14.81 to the dirham, breaching its previous record low of 54.39 struck on December 15.

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GCC ministers of commerce hold 45th meet

RIYADH - UAE Minister of Economy, Sultan bin Saeed Al Mansouri is participating in the GCC ministers of commerce meeting started on Wednesday in Riyadh.The 45th meeting of GCC ministers of commerce is being held within the framework of the committee of trade cooperation.

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Greek worries push European markets down further

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Greek worries push European markets down further

LONDON — Fears that Greece might leave the euro currency union, with uncertain consequences for the rest of Europe, pushed the continent’s markets down again on Thursday, though Asian stocks eked out gains thanks to good economic growth figures out of Japan.

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US retail sales simmer down

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US retail sales simmer down

Retail sales in the US rose in April at the slowest pace of the year, showing unseasonably mild weather and pre-Easter shopping may have pulled consumers to stores the prior month.

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Italy banks slapped with downgrades

UniCredit and Intesa Sanpaolo were among 26 Italian banks that had their credit ratings cut one to four levels by Moody’s Investors Service, which cited weakened earnings and the country’s economic outlook.

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Network tower sharing fuels innovation

CAIRO - Mobiserve Holding predicts continued growth in Egypt’s telecom sector as well as the Middle East, with growth expected to be driven by demand for data services and new technologies such as Long Term Evolution and mobile payment solutions.

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GIH seeks delay on debt repayment

KUWAIT CITY - Kuwait’s Global Investment House, or GIH said on Tuesday that it would ask creditors to further extend a deadline for repaying debt to November from June as part of a restructuring proposal it plans to submit soon.

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