Mena News

 

  German consumer morale inches up heading into August
Jul , 29 , 2012  
  Consumer morale in Germany unexpectedly inched up heading into August as consumers shun the low interest rates banks are offering and instead spend their cash on big-ticket items, a survey by GfK market research group showed. The forward-looking consumer sentiment indicator edged up to 5.9 for August from this month's 5.8, beating the consensus forecast in a Reuters poll of 27 economists for it to hold steady at 5.8. August's reading, based on a survey of around 2,000 Germans, was helped by a rise for the third month running in the index of consumer willingness to buy goods, to 35.8 in July from 32.7 the previous month.
 

Read More

  Hopes of faster U.S. growth may be misplaced
Jul , 29 , 2012  
  U.S. GDP expanded at an uninspiring 1.5 percent annual pace in the quarter to June, though the report accompanying the first initial estimate of growth contained positive details, Bureau of Economic Analysis report showed. The BEA also published revisions for GDP in earlier years. The extent of GDP contraction in 2009 was reduced by 0.4 percentage point, lessening the depth of the recession, while growth the following year was revised downward by 0.6 point to 2.4 percent. For 2011, growth was revised up to 1.8 percent from 1.7 percent.
 

Read More

  Tunisia to sell its stake in Tunisiana mobile business
Jul , 29 , 2012  
  Tunisia's government is to auction off its 25 percent share in the Tunisiana mobile phone business, which is majority owned by Kuwaiti telecoms operator Wataniya. Offers must come only from financial companies and investment funds by November 2, Slim Besbess, a director at Tunisia's finance ministry, told a press conference.
 

Read More

  Egypt's EFG Hermes confident of QInvest deal by October
Jul , 29 , 2012  
  Egyptian investment bank EFG Hermes expects a planned tie-up with Qatar's QInvest to go ahead before October, the company said, after Egypt's financial market regulator suspended the deal. The Egyptian Financial Supervisory Authority (EFSA) rejected decisions approved by EFG shareholders last month because the firm did not clarify points including minority rights, state news agency MENA reported on Wednesday. The head of the watchdog was quoted as saying that EFG must provide the required information and reconvene shareholders for the deal to be completed.
 

Read More

  Egypt central bank holds rates, sees growth risk
Jul , 29 , 2012  
  Egypt's central bank left interest rates unchanged, prevented from cutting borrowing costs in support of a weak economy by worries over the local currency and state finances. The bank said there was a risk that growth rates could slow further because of Egypt's political transformation, weak investment and the challenges facing the Euro-zone. All seven economists in a Reuters survey forecast that Thursday's meeting would conclude with overnight rates unchanged at 10.25 percent for lending and 9.25 percent for deposits.
 

Read More

  UAE Security & Commodities Authority issues rules governing investment funds
Jul , 29 , 2012  
  The U.A.E.'s Security and Commodities Authority, or SCA, said it has issued rules governing investment funds in order to improve the investment climate and to attract new investments and pools of liquidity. The resolution, which will take effect after publication in the official gazette, "is part of the SCA's endeavor to issue new investment products and diversify the investment tools available to traders in the markets," Abdullah Al Turifi, SCA's chief executive said in a statement.
 

Read More

  Saudi RCJY inks two deals worth USD56.8mn for Projects in Jubail Industrial City
Jul , 29 , 2012  
  Saudi Arabia's Royal Commission for Jubail and Yanbu , or RCJY , has signed two contracts with a combined value of SAR213mn (usd56.8mn) for two projects in Jubail Industrial City in the kingdom's eastern province, Saudi-based Al Riyadh daily reported. The first project will take two years to be completed and will involve setting up a fuel gas and feedstock pipeline grid as part of the second phase of the Jubail 2 project, the paper reported. The second project will be implemented in Jubail's residential district over five years and will consist of providing cleaning, gardening, and landscaping services, as well as setting up irrigation systems and lighting, the daily said.
 

Read More

  Germany, France vow to do 'protect eurozone'
Jul , 27 , 2012  
  German Chancellor Angela Merkel and French President Francois Hollande pledged to do "everything to protect the eurozone" after telephone talks on Friday. "Germany and France are deeply committed to the integrity of the eurozone. They are committed to do everything to protect the eurozone," the two leaders said a joint declaration released in Berlin. "In order to achieve this, the (eurozone) member states and European institutions, must live up to their respective responsibilities. Both countries stress the necessity to implement quickly the conclusions of the European Council" in late June. Aides to Hollande said earlier that the leaders of the two biggest eurozone countries would have a telephone conversation around midday Friday on the economic crisis in Spain. The talks were to focus on the economic reforms proposed at last month's summit of European Union leaders to resolve the eurozone debt crisis and in particular how they apply to Spain, the aides said. Hollande said Wednesday he wanted a "rapid and firm implementation" of the reforms agreed at the summit, adding that EU leaders needed to match the speed with which markets were reacting to the eurozone's economic woes. The accord last month paved the way for the eurozone's future 500-billion-euro ($616 billion) bailout fund to recapitalise ailing banks directly, without adding to the national debts of struggling countries. Spanish borrowing costs have soared above seven percent this week -- the level at which Ireland, Portugal and Greece were forced into bailouts -- and official figures released Friday showed its unemployment rate rose in the second quarter to 24.63 percent.
 

Read More

  Stocks move higher; traders hope for ECB action
Jul , 27 , 2012  
  Faced with Facebook, Starbucks and Mario Draghi, the market chose to focus on Draghi. For a second day, the U.S. stock market powered higher on optimism generated by a pledge from the European Central Bank chief, who vowed Thursday to do whatever necessary to preserve the euro. AN undercurrent of troubling signs slower economic growth, less consumer spending, and disappointing results from Facebook and Starbucks was simply shrugged off. The Dow Jones industrial average climbed as high as 12,999.75 in early trading, almost within reach of the key milestone of 13,000. The last time the market closed above 13,000 was May 7, before worries about the European debt crisis re-exploded. Draghi's remarks were influential because many investors fear that disaster would ensue if the 17 countries that use the euro were split apart. Weaker countries like Greece and Spain would likely plunge into an economic tailspin. Keeping the euro zone intact, however, also depends heavily on the cooperation of stronger countries like Germany, which have footed much of the bill for bailing out weaker nations.
 

Read More

  Wall Street climbs at open on Draghi comments
Jul , 27 , 2012  
  Stocks rose more than 1 percent at the open on Thursday after remarks by Europe's central bank chief about protecting the euro zone from collapse helped reassure a market already expecting the Federal Reserve to step up stimulus efforts. The Dow Jones industrial average <.DJI> gained 108.42 points, or 0.86 percent, to 12,784.47. The Standard & Poor's 500 Index <.SPX> gained 14.11 points, or 1.05 percent, to 1,352.00. The Nasdaq Composite Index <.IXIC> gained 45.39 points, or 1.59 percent, to 2,899.63
 

Read More

[First Page] [Prev] 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 [Next] [Last Page]

  
New Page 1
Privacy Statement

Copyright 2012 LOTUS All Rights Reserved
Developed By Superlink