Mena News

 

  Iraq's June oil exports down 2 percent on month at 2.403mn bpd
Jul , 03 , 2012  
  Iraq's crude oil exports in June fell 2 percent to 2.403mn barrels per day, from 2.452mn bpd in May, according to an Iraqi Oil Ministry spokesman. Assem Jihad said that these exports earned Iraq some USD6.453bn in June, compared with USD7.831bn in May--a slide of 17.6 percent due mainly to falling oil prices.
 

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  Brent crude rises USD1 on Iran tensions, Norway strike
Jul , 03 , 2012  
  Brent crude climbed USD1 as threats from Iran to try and block oil shipments offset concerns that gloomy manufacturing data from China, the United States and Europe will hurt oil demand.
 

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  U.K. factory decline slows in June
Jul , 03 , 2012  
  Britain's manufacturing sector contracted for the second straight month in June as new orders continued to fall, adding to expectations the Bank of England will pump more cash into the struggling economy. The Markit/CIPS Purchasing Managers' Index (PMI) rose to 48.6 last month from May's three-year low of 45.9, beating expectations for a more modest climb to 46.5, but spending its second month below the 50 mark that divides growth from contraction.
 

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  German manufacturing shrinks at fastest pace in 3 years
Jul , 03 , 2012  
  Germany's manufacturing sector shrank in June at the fastest pace in three years, with new business intake dropping for the 12th month running, in a sign the economy is suffering from both the Euro crisis and a broader global economic slowdown. Markit's manufacturing Purchasing Managers Index (PMI) slid to 45.0 in June from 45.2 in May, registering the fastest decline in the sector since June 2009, final data showed on Monday. The figure was just above a flash estimate of 44.7.
 

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  Euro-zone factories hit hard in June, job cuts rise
Jul , 03 , 2012  
  Euro-zone manufacturing took another hefty blow in June and factories are preparing for worse to come, according to business surveys on Monday that showed jobs were cut at the fastest rate in two-and-a-half years. Markit's Eurozone Manufacturing Purchasing Managers' Index (PMI) was unchanged at 45.1 in June, above the preliminary reading of 44.8 and holding at its lowest reading since June 2009.
 

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  Euro-zone joblessness reaches new high in May
Jul , 03 , 2012  
  Joblessness in the Euro-zone rose to a new Euro-era record in May, pushed higher by lay-offs in Austria, France and Spain as the 2-1/2 year debt crisis continued to eat away at the fragile economy. Around 17.56mn people were out of work in the 17-nation Euro-zone in May, or 11.1 percent of the working population, a new high since records began in 1995, the EU's statistics office Eurostat said.
 

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  Egypt to offer 3bn EGP in reopened bonds
Jul , 03 , 2012  
  Egypt's Ministry of Finance will offer EGP3bn (USD495mn) in reopened five-year and ten-year bonds at an auction on July 9, the central bank said. It will offer EGP2bn in reopened five-year bonds maturing on April 10, 2017 with a coupon of 16.55 percent, and EGP1bn in reopened ten-year bonds maturing on April 3, 2022 with a coupon of 17 percent, the bank said.
 

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  Egypt allocates USD850mn for new cities infrastructure in 2013
Jul , 03 , 2012  
  The Egyptian finance ministry has decided to allocate EGP5bn (USD850mn) for infrastructure projects in new cites in Egypt in 2013, a senior official in the New Urban Communities Authority (NUCA) told Zawya. The housing ministry has targeted the completion of infrastructure including water desalination plants in New Cairo, Sohag and Akhmim, for which NUCA has allocated the EGP5bn from the budget for the fiscal year 2012-2013, which began on July 1.
 

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  Qatari investors near French hotels deal
Jul , 03 , 2012  
  Qatar is in the process of finalizing a deal with Starwood Capital to buy from the U.S. group a portfolio of four luxury hotels in France for an undisclosed price. It is the latest in a wave of high-profile purchases in the country by the gas-rich emirate, which has led to a political backlash. The Qatari acquirer of the hotels, which include the art deco Martinez on Cannes' Croisette waterfront, is understood to be Katara Hospitality, a state-owned hotels group.
 

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  Dubai International sees 10.4 percent rise in May passenger traffic on regional boost
Jul , 03 , 2012  
  Passenger traffic at Dubai International Airport rose 10.4 percent in May, compared with the year before, boosted by ongoing growth in regional air travel, data showed. Passenger volumes in May reached 4.39mn, an increase of 10.4 percent compared with 3.98mn during the corresponding month in 2011, Dubai Airports, which manages Dubai International, the world's fourth busiest, said in a statement.
 

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