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Damas considers pulling out of India

11 April 2011

Dubai-based jewellery retailer, Damas is considering shutting down its 100 stores across the Indian subcontinent, the world's biggest gold market, after pulling out of Pakistan, The National has reported. "We are looking at our business in Pakistan and India, our relationship and the way we entered the country," Damas chairman, Ibrahim Belselah, said. "Within our new corporate governance, it's not the best route to do business because we want to be absolutely transparent."

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