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AME Info News - Finance and Economy
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UAE markets continue slide
Tue, 07 Oct 2008 16:43:00 +0400
The Dubai Financial Market on Tuesday lost 182.64 points, or 5.14%, to close on 3,369. Among the day's big losers were Arabtec, down 12.09%, and Tamweel, which dipped 10.48%. The Abu Dhabi Securities Exchange also fell sharply, down 162.87 points, or 4.58%, to end the day on 3,395. [AMEInfo.com]
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Kuwaiti investors call for market shutdown
Tue, 07 Oct 2008 16:31:00 +0400
A group of Kuwaiti investors have urged the government to temporarily shut the stock market to protect small investors from losses, reported Bloomberg, citing Al-Arabiya television. The Kuwaiti court has slated Oct. 9 to hold a hearing on the possible closure of the Kuwait Stock Exchange, Adel Abdul-Hadi, one of 20 lawyers representing the investors, said in an interview. The investors were not identified.
[AMEInfo.com]
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Middle East businesses unethical say employees
Tue, 07 Oct 2008 12:50:00 +0400
A poll run by jobs website Bayt.com claims that the ethics and professionalism levels in the Middle East workplace are questionable. The poll found that 45% of respondents believed their company did not conduct business in an ethical manner, while 52% thought that it did. Fifty-one per cent said that their company always conducted business in a professional manner, with 49% saying that the company they worked for was not professional. The poll was conducted among 8,593 people from across the Middle East. [AMEInfo.com]
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Kuwait moots visa transfer ban
Tue, 07 Oct 2008 10:58:00 +0400
Kuwait is considering banning the transfer of worker's visit visas into work permits for holders of Iraqi, Iranian and Syrian passports. The move, reported in the Kuwait Times, is being considered after a rise in applications from these countries. The ban would be enforced over a period of three years. [AMEInfo.com]
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Global stocks plunge
Tue, 07 Oct 2008 08:39:00 +0400
Fears that the credit crisis will not be contained sparked panic selling across
Global stock markets tumbled on Monday amidst fears that the credit crisis cannot be contained. European shares posted their worst day on record and the Dow slipped below 10,000 points for the first time since October 2004. In Europe, the pan-European FTSEurofirst 300 index fell 7.75% to close at 1,004.90 points, its biggest percentage fall ever and eclipsing the 6.3% fall suffered on September 11, 2001, during the US terrorist attacks. In the US, the Dow Jones industrial average closed down 369.88 points, or 3.58%, at 9,955.50. At one point, the Dow was down as many as 800 points following large declines on global stock markets.
[AMEInfo.com]
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