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| VAT to wait until 2010 |
| A UAE government official said the UAE is not introducing a value-added tax until at least 2010, Bloomberg has reported. |
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| Tasi rises in transparency rule |
| Saudi Arabia's stock market rose as Tasi began naming investors holding 5% stakes or more in order to boost transparency on the largest Arab bourse, |
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| Saudi stocks shed 3.11% |
| Saudi stocks posted further losses for the third week in a row last week amid low trading volumes, Arab News has reported. |
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| Dubai gold trade hits $13bn |
| Dubai Multi Commodities Centre reported that gold trade through Dubai has reached $13.07bn in the first half of 2008, |
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| Adia eyes stake in Daimler |
| The Abu Dhabi Investment Authority (Adia) is interested in buying a large stake in Daimler, as cited in the German Focus magazine, Reuters has reported. |
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| Kuwait sets minimum wage |
| Kuwait has set a minimum wage of KD40 per month for companies with government contracts for cleaning and security services, Reuters reported. |
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| Markets fall on heavy sales |
| The Dubai, Abu Dhabi and Muscat stock markets fell sharply yesterday, due to sales by international and local portfolios. |
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| Gold trading hits record |
| Trading volumes on the Dubai Gold and Commodities Exchange hit a record high in July, with 186,842 contracts signed, worth over $12bn. |
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