Kuwait News
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Saudi Arabia’s stock index rose to the highest level in more than three years on investor bets the Arab world’s biggest stock market may this year open up to foreign investors and as oil traded near a nine-month high.
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Canada’s success in parlaying strong economic fundamentals into a rush of foreign investment has come at a cost: weakened manufacturing competitiveness that’s exacerbating a regional divide between the resource-rich west and the factory-heavy east.
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GB Auto climbed to the highest in more than four months after the Middle East’s biggest independent car assembler signed a contract to produce and distribute cars for Geely Automobile Holding Ltd.
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CME Group Inc., the world’s largest futures exchange owner, and Oman Investment Fund will raise their respective stakes in the Dubai Mercantile Exchange to support expansion at the Middle East oil bourse.
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Abu Dhabi’s shares rose to the highest in almost five months after Emirates Telecommunications Corp. proposed a dividend for 2011 and on investor bets the emirate’s spending plans would support real-estate companies.
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Abu Dhabi stocks headed for the highest close in almost four months on bets the emirate’s biggest developers, which reported improved earnings, will benefit from infrastructure spending. Oil rose for a fourth day.
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Dubai’s shares surged the most in almost a year on investor confidence debt-burdened companies in the emirate will meet payment obligations without government support and as quarterly earnings beat estimates.
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Qatar plans to invite the private sector to participate in 30 new projects worth a total of $5.6 billion, Al Sharq reported today, citing Mohammed bin Ahmed bin Towar, Vice Chairman of the Chamber of Commerce and Industry.
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U.S. Defense Secretary Leon Panetta expressed concern that al-Qaeda has voiced support for the opposition in Syria, a sign the group may be seeking a role in the conflict there.
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Kuwait’s Capital Markets Authority delisted the shares of nine companies after they failed to correct their status on time, Al-Qabas reported, citing a letter by the authority to the stock exchange.
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