Mena News

 

  Producer prices decline in the Eurozone
Jul , 03 , 2013  
  Producer prices continued to fall in May, down 0.1% YoY, after decreasing 0.2% YoY in April. The market estimated prices to remain stagnant. This is ascribed to a 0.5% YoY decline in energy prices.
 

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  US factory orders rise more than expected
Jul , 03 , 2013  
  Factory orders for manufactured goods in the US increased 2.1% MoM, following a 1.3% MoM rise in April. This was higher than the market estimate of 2.0% MoM compared to the previously reported figure of 1.0% MoM.
 

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  KSA’s Alfanar bags SR1.5bn projects in 1H13
Jul , 03 , 2013  
  KSA’s EPC firm, Alfanar Construction, signed multiple projects worth SAR1.5bn (USD400mn) for the construction of substations and underground cabling in 1H13.
 

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  Gold ends higher, as dollar strengthens
Jul , 01 , 2013  
  Gold futures ended higher, as the dollar strengthened against some major currencies. Gold futures for August delivery rose 1.0% to USD1,223.70 an ounce on the NYMEX.
 

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  Germany’s inflation rises more than forecasted
Jul , 01 , 2013  
  Germany’s inflation accelerated more than expected, with the Harmonized Index of Consumer Prices rising 1.9% from 1.6% in May. The market was expecting inflation to come in at 1.8%.
 

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  Business activity slows down in the region of Chicago
Jul , 01 , 2013  
  Business activity in the area of Chicago slowed in June, with the ISM business barometer falling to 51.6 from 58.7 in May. The market was expecting the reading to drop to 55.0.
 

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  US consumer sentiment deteriorates
Jul , 01 , 2013  
  Consumer sentiment in the US deteriorated in June, albeit less than previously forecasted by the market. The consumer sentiment index was revised up to 84.1 from the initial reading of 82.1 for June, while the market was expecting the reading to be revised up to 83.0.
 

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  Dana Gas sets up new gas discovery in Egypt
Jul , 01 , 2013  
  UAE-based Dana Gas discovered more gas in Egypt's Nile Delta, with 9.4 million cu ft per day produced during initial tests. A notification of commercial discovery has been made to the government.
 

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  Qatar’s GDP growth remains at 6.2% YoY in 1Q13
Jul , 01 , 2013  
  Qatar’s real GDP is estimated at QAR88.4bn in 1Q13 (up 6.2% YoY) compared with QAR83.23bn in 1Q12 and QAR87.1bn in 4Q12.
 

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  Aldar-Sorouh merger takes effect from June 27, 2013
Jul , 01 , 2013  
  According to a company announcement, the merger between Abu Dhabi’s Aldar Properties and Sorouh Real Estate became effective from June 27, 2013, post market closure.
 

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