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S.Korean firm to build factory in RAK

RAS AL KHAIMAH - Ras Al Khaimah Investment Authority (RAKIA), a major provider of investment opportunities and one-stop solutions in its Free Zones, has announced that SeAH Steel Corp., a leading steel manufacturer from South Korea, has signed a lease contract for 250,000 square metres of land to build a manufacturing plant within RAKIA’s Industrial Park.

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DDF sales surge 21 per cent

DUBAI — Dubai Duty Free, or DDF, on Thursday said its sales in the first quarter of 2010 surged by 21 per cent, signalling the return of consumer confidence. DDF, which operates retail outlets at the three terminals of Dubai International Airport, one of the busiest airports in the world, said first quarter sales reached Dh1.1 billion.

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DFM gains, Abu Dhabi index declines the most since Dec

DUBAI — The Dubai Financial Market General Index gained 0.9 per cent to 1,859.96, the highest since March 28. The benchmark gained 0.8 percent for the week. Abu Dhabi’s ADX General Index slid 1.7 per cent, the most this year on lower than average volume as investors held back purchases awaiting the release of first-quarter earnings later this month.

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local business

Aldar outlines Yas Island 
MICE opportunities

ABU DHABI — Aldar, Abu Dhabi’s leading property development, management and investment company, has unveiled further details of the opportunities available now, and in the coming months, at Yas Island to industry professionals at this week’s Gulf Incentive, Business Travel & Meetings Exhibition (GIBTM) held at ADNEC.

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