Arab Times

US retail sales, wholesale inflation rise in November – Producer prices increase 0.3 pct in Nov

WASHINGTON, Dec 11, (Agencies): A gauge of US consumer spending rose solidly in November, suggesting enough momentum in the economy for the Federal Reserve to raise interest rates next week for the first time in nearly a decade. Other data on Friday showed producer prices increased last month as services …

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China’s November spending beats expectations led by loans, bonds – Beijing’s bank lending rebounds in November after stimulus

BEIJING, Dec 11, (RTRS): New loans and money supply grew faster than expected in China in November as interest rate cuts and higher government spending spurred more demand for credit, a welcome bright spot after a raft of disappointing economic data. Chinese banks extended 708.9 billion yuan ($109.81 billion) of …

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Oil glut ‘worsening’ as demand growth slows – OPEC output booms

LONDON, Dec 11, (Agencies): Global oil markets will remain oversupplied at least until the end of 2016 as demand growth slows and OPEC output booms, putting oil prices under further pressure, the International Energy Agency said on Friday. The IEA, which advises developed nations on energy policies, said the global …

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Jaguar Land Rover inks deal to build plant in Slovakia

Indian-owned Jaguar Land Rover (JLR) on Friday signed a deal to build a car manufacturing plant in Slovakia, its first such investment in continental Europe. The factory, worth 1.1 billion pounds (1.5 billion euros, $1.67 billion), is due to turn out the first cars in 2018, said JLR chief executive …

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Al-Musallam wins Third Barrier Jumping Contest – Al-Othman takes 2nd place

KUWAIT CITY, Dec 11:  Knight Abrar Al-Musallam with the horse Falaskio from Kuwait Equestrian Center won the Third Barrier Jumping Contest (115-125 cm) free of flaws, and Knight Latifa Al-Othman took second place. With four mistakes registered in his name, Knight Ahmad Al-Modhahaka came third in the same category, and …

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US Olympic boxers struggling with cuts

RENO, Nevada, Dec 11, (AP): Antonio Vargas never had a cut in his boxing life until blood trickled down his forehead Wednesday during his most important bout. The touted flyweight fought through the surprise and pain, but his Olympic dreams were imperiled when he lost a split decision at the …

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Blatter says $100 mn bribery case is ‘over’

TOKYO, Dec 11, (AFP): Suspended FIFA president Sepp Blatter insisted that a $100 million bribery case in which he is reportedly implicated “is over”, and pleaded ignorance over alleged corruption by top officials at the scandal-hit world body. Blatter, speaking to Japan’s Nikkei business daily, also protested that he should …

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‘Stadium festival funded, prearranged by HH Amir’ – KFA postpones 10th round of KPL

KUWAIT CITY, Dec 11, (Agencies): Board member of Public Authority for Sports and member of the organizing committee for the opening ceremony of Sheikh Jaber International Stadium Khaled Al-Rowdhan disclosed that the festival scheduled to take place on Dec 18 was prearranged and funded by HH the Amir, noting the …

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The ‘summit’ of integration

FOR the first time in the history of the Gulf Cooperation Council (GCC) summits, we feel the summit’s concluding statement has not only nursed the wound of every council member but implicitly has expressed the ambitions of the people in the sphere of economic spectrum and incorporation of interests. This …

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KAH holds talks with AUC delegation – ‘Al Habtoor Scholarship’, management changes among issues discussed

DUBAI, UAE, Dec 9: Khalaf Ahmad Al Habtoor welcomed a delegation from The American University in Cairo (AUC) led by Dr Tarek Shawki, Dean of the School of Science and Engineering on Wednesday. Also present was Dina Abulfotuh, Vice-President for Institutional Advancement and Communications; Dina el-Gassar, Director of Development, Office …

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