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- Asian stocks plummet as Citigroup cuts 52,000 jobs in bid to stay afloat
Asian stocks fell on Tuesday after Citigroup cut 52,000 jobs in a dramatic move to save itself and downbeat policymaker comments reflected worsening economic conditions that will unlikely improve until well into 2009. - Dubai shrugs off credit fears
Investment firm chief sees liquidity returning through government initiatives. - Dubai World not for sale, Bin Sulayem says
Dubai World and its subsidiaries are not for sale, Sultan Ahmad Bin Sulayem, executive chairman of one of Dubai's largest holding companies, said in an interview. - Yahoo's Yang to step down as CEO
Jerry Yang, the chief executive of Yahoo Inc, will step down from his role as soon as the board finds a replacement for the Internet company, Yahoo said on Monday. - Citigroup to cut another 53,000 jobs
Citigroup Inc. is cutting approximately 53,000 more jobs in the coming quarters as the banking giant struggles to steady itself after suffering massive losses from deteriorating debt. - UAE exports set to reach Dh758b as GDP climbs
The UAE's exports for 2008 are forecast to reach Dh757.8 billion, up from an estimated Dh607.7 billion in 2007, while its import levels this year are forecast to reach Dh491.7 billion, the Oxford Business Group said in 'The Report: Abu Dhabi 2008', released here on Monday. - Nakheel to scale back projects on slowdown
Nakheel PJSC, the state-owned developer planning a kilometre-high tower in Dubai, will scale back some of its projects because of the global economic slowdown. - Real estate stocks reverse slump as UAE bourses recoup Dh19.5b
After seven straight days of frenzied selling, much of it on the Dubai Financial Market which plunged 37 per cent, UAE shares rose on Monday to provide some much-needed relief to investors and traders. The combined value of shares went up by Dh19.54 billion. - Investment firm bets on a $50m fund
Amid the cautious financial climate, the Dubai Multi Commodities (DMCC) is spending $50 million (Dh183.67 million) as the seed investor of BlackRock Global Resources and Mining Fund on the Shariah governed Al Safi Trust platform. - Pakistan still faces rating downgrade, Moody's says
Pakistan's debt rating remains on review for a downgrade as a "narrow avoidance" of default was not a vast improvement of its creditworthiness, Moody's Investors Service said. - IMF accord lifts currency in Pakistan
The Pakistani rupee firmed 0.4 per cent on Monday, following the government's agreement with the International Monetary Fund (IMF) for a $7.6-billion (Dh27.89 billion) emergency loan, dealers said. - Japan slides into recession for first time in seven years
Japan slid into its first recession in seven years in the third quarter as exports crumbled, and some analysts said an escalation in the global financial crisis may have put the economy on course for its longest ever contraction. - First batch of Abu Dhabi-built buses shipped to Australia
Abu Dhabi-based Hafilat Industries yesterday said it has commenced shipping its first export batch of European buses to Australia from its factory in ICAD-1, Mussafah, which opened earlier this year. - Dubai real estate prices expected to rise
The future of real estate in Dubai is sunny, with most real estate agents predicting the market will pick up in the next six months. - Global credit crisis limits microfinance loans for the needy in South Asia
As credit tightens and largesse from corporations and socially-minded investors dries up, availability of small loans is likely to be hit badly, impacting the poor. - Hong Kong toymakers bank on Santa
Hong Kong-based toy manufacturer Harbour Ring Crown Ace, which counts Mattel and Hasbro among its clients, is bracing itself for a tough Christmas season and an even worse outlook in 2009 which will be worse than a recession. - Let salary issues stay confidential
By tradition, your salary is a private matter between yourself and your employer and not a topic for comparison and point-scoring among fellow-employees. - Experts feel authorities should step in to lift liquidity
The current real estate industry in Dubai could be "jumpstarted" overnight if Dubai government started plunging more money into mortgage-lending facilities, real estate agents and agencies say.property ladder, it's now an end-user market - UK retail stock grows despite economic woes
By the end of 2008, the UK will have seen 945,000 square metres of new retail space open, which will be the highest figure on record since 1965 - to give this a regional equivalent, this is akin to about three Dubai Malls - minus the aquariums and ice rinks of course. - Abu Dhabi plans to more than double hotel rooms by 2012
There will be more than 26,000 hotel ro