Following on from Dubai, public bus transport will now be planned in Saudi Arabia and Sharjah using Microbus software following the new orders for all the key modules from IVU Traffic Technologies AG. Modern public transport systems for both local and regional bus operations are becoming increasingly important for the Gulf region. This is because
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The index of industrial production reached 120.4 (base 2000=100) in for May 2008, recording an increase of 3.9% compared with May 2007. For the period January – May 2008 the index recorded an increase of 4.6% compared with the same period of the previous year. For manufacturing, the index reached 117.8 in May, recording an
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According to provisional estimates the turnover volume index of retail trade increased by 9.9 or 7.0% to 151.0 in May 2008, compared with141.1 in April 2008. For the period January-May 2008 the index is provisionally estimated to have increased by 11.6% compared with the corresponding period of 2007. Final figures for April show that the
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Iran has refused to halt its nuclear programme despite the threat from major powers of increased U.N. sanctions. The United States said on Sunday that Tehran had left the U.N. Security Council no choice but to increase sanctions after Iran ignored an informal deadline to respond to an offer for talks on its nuclear programme.
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Oil steadied below $126 a barrel on Monday due to a tropical storm that may threaten oil facilities in the Gulf of Mexico and to concerns over OPEC producer Iran's nuclear programme. U.S. light crude was trading 67 cents higher at $125.77 by 0838 GMT after rising as high as $126.35. Prices have rebounded from
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Two boats with a total of forty peace activists from the Free Gaza Movement will be setting sail from Cyprus for Gaza later in the week, with an aim to break the Israeli siege and tell the people there that the world has not forgotten them. The boats are on their way to Cyprus to
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Europe's biggest bank HSBC Holdings said its first-half profit fell 28 percent, in line with analysts' forecasts, as a $14 billion hit on bad debts on U.S. home loans and asset writedowns countered strong Asian growth. HSBC said pretax profit in the six months to the end of June were $10.2 billion, down from $14.2
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Logicom Public Ltd (LOG) reported a 29.4% Year-on-Year increase in first half profitability to EUR5.0 mln on the back of sharply higher sales and a favourable swing in exchange rates. EPS was recorded at EUR 0.0676. Group revenue increased 26.2% to EUR196.3 mln driven both by sales in Cyprus and abroad (U.A.E., Saudi Arabia, Turkey,
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Vassilico Cement Works Public Co Ltd (VCW) reported a decline in profitability during the first half of 2008 compared to a year ago with net profit declining 14.7% to EUR7.37 mln from EUR 8.64 mln a year ago in the first half. This is the first time VCW includes the operating results of the acquired
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Lycos Europe N.V., one of the leading European portal providers and online advertisers, published its unaudited condensed consolidated interim financial statements for the first half year 2008 with EBITDA amounting to a loss of EUR 10.9 mln compared to EUR -7.6 mln in the same period in 2007. Revenues decreased to EUR 33.3 mln for
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