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Across UAE food prices slashed up to 40 percent

Across UAE food prices slashed up to 40 percent

In support of customers, the costs of important foodstuff have been decreased by as much as 40 % across the nation, Dr. Hashim Al Nuwai-mi, chief of consumer protection dept, Ministry of Economy said on Tues. Al Nuwaimi declared it while inaugurating the ‘6th GCC during March’ in the Capital. The topic of this season’s consumer day crusade is ‘Rationalizing Consumption is Our Right’.

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UAE financial system is safe: Central Bank

UAE financial system is safe: Central Bank

The Central Bank of UAE on Monday asked all banking institutions within the country to right away report any suspicious dollars transactions or circumstances they come across to its Anti-money Laundering and Suspicious Cases Unit (AMLSCU).

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Dubai inflation falls to 0.6% in 2010

Dubai inflation falls to 0.6% in 2010Dubai inflation fell sharply past year since it slowed to 0.6 percent compared to 4.03 percent last year on housing and food prices, according to data released by Dubai Statistics Centre on Wednesday.

The emirate’s inflation rate of 2010 was 0.55 percent when compared with 2009, regardless of the increase within the prices of education group 9.04 per cent, transport sector 6.64 percent, health services 3.43 percent, miscellaneous goods and services 2.09 percent, food and non-alcoholic beverages group 1.90 percent, restaurants and hotels 1.43 percent.

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New rules for IPO listing

New rules for IPO listing

International exchange operator, Nasdaq Dubai, on Tuesday unveiled new listing rules to make sure increased participation by individual investors in initial public offerings, or IPOs. The wide-ranging changes proposed by the bourse in its bid to increase liquidity and woo investors also seek to introduce a brand new reporting pattern for listed firms together with flexible criteria to draw in family and little cap businesses.

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US-UAE trade body lambasts new tax

US-UAE trade body lambasts new tax

The Federal Reserve continues using its $600bn (£385bn) stimulus programme as it is not convinced by recent signs of the strengthening recovery in the US economy, meeting notes have revealed. The Fed acknowledged the improving outlook, but said the programme dubbed QE2 would continue.

There had been some speculation how the Fed may reduce its stimulus measures given improved economic statistics. Factory order figures, also released on Tuesday, showed return to growth. The commerce department said orders rose 0.7% in November, carrying out a decline in October. QE2 may be the second round of quantative easing, the policy of making dollars to pump to the economy to stimulate growth.

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