Mena News

 

  UK house prices touch record high
May , 21 , 2013  
  House prices in the UK increased for the fifth consecutive month in May, rising 2.1% MoM to GBP249,841. On year-to-date basis, the prices are up 9.1%.
 

Read More

  S&P maintains negative outlook on India
May , 20 , 2013  
  Standard & Poor's retained its negative outlook on India's 'BBB-' rating. The rating agency indicated that there is a one-in-three chance that India’s rating could be downgraded in the coming twelve months.
 

Read More

  New car sales rise in Eurozone
May , 20 , 2013  
  New car sales in the Eurozone rose for the first time in over 19 months. New car sales grew 1.7% YoY to 1.04mn units in April, after declining 10.2% YoY in March. Car sales rose 14.8% YoY in the UK, 3.8% YoY in Germany, 5.3% YoY in France and 10.8% YoY in Italy.
 

Read More

  US consumer sentiment at six-year high
May , 20 , 2013  
  Consumer sentiment in the US improved considerably in the month of May, with the consumer sentiment index rising to 83.7 from 76.4 in April. This is the highest level in almost six years. The market was expecting the index to reach 78.0.
 

Read More

  S&P reaffirms Nakilat’s rating
May , 20 , 2013  
  S&P reaffirmed Nakilat Inc’s “AA-” rating with a stable outlook.
 

Read More

  UAE’s GDP rose 4.4% in 2012
May , 20 , 2013  
  The UAE’s GDP grew 4.4% in 2012 compared to 3.9% in 2011, according to data from the statistical office. Growth was driven by strong and stable oil prices.
 

Read More

  Dell’s Q1 earnings drop 79%
May , 19 , 2013  
  Dell’s earnings plunged 79 percent in the latest quarter as the shift to smartphones and tablets reduced demand for the company’s personal computers. The dismal performance actually might work to the advantage of Dell Inc.’s board. That’s because Dell’s directors are trying to persuade shareholders to accept a $ 24.4 billion buyout offer from CEO Michael Dell and other investors. Some shareholders say the sales price of $ 13.65 per share is too low, but Dell’s board contends it’s a good deal in light of challenges facing the company. The results for the fiscal first quarter, which ended May 3, should reinforce the board’s point. At the same time, opponents of that proposal may question whether the company is deliberately finding ways to make the results look as bleak as possible in an effort to get the deal done. A shareholder vote is supposed be held by Aug. 2
 

Read More

  Depa's Q1 revenue climbs 18% to AED 446 mln
May , 15 , 2013  
  Depa Limited (“Depa” or the “Company”), one of the world’s leading interior contracting companies, today issued a first quarter trading update for the period ended 31 March 2013. In the first three months of the year, Depa saw an 18% rise in revenues to AED 446 million (Q1 2012: AED 378 million) from a diverse and solid backlog. Contract margins rose to 13% from 11% in the same period last year, supporting a 36% increase in contract profit to AED 57 million (Q1 2012: AED 42 million). Net profit before non-controlling interests was AED 12 million, a significant improvement on last year (Q1 2102: loss AED 9 million). As of 31 March 2013, Depa’s backlog stood at AED 3 billion. The Company signed AED 324 million of new contracts, enlarging its already strong backlog by 8%. Saudi Arabia dominates the backlog with 30% of the total value of projects, totalling approximately AED 900 million. These projects include the Mekkah Mosque Shamiya expansion (AED 411 million); King Abdullah Petroleum Studies and Research Centre (AED 311 million) and King Saud University (AED 177 million). Europe now accounts for 14% of the total backlog, twice that of the previous year. This is principally due to a number of new contracts signed by Vedder, Depa’s specialist yacht business. This includes a AED 110 million contract for the fit-out of a private yacht in Spain and two further yacht contracts worth AED 125 million collectively. In Asia, a AED 30 million contract was signed with the Mandarin Oriental in Malaysia whilst Singapore added four new projects worth a combined AED 23 million. This brings Singapore’s total to 22 projects over AED 10 million and resulting in Asia having a total backlog of AED 415 million. Depa’s balance sheet remains strong with total assets at AED 2.96 billion (FY 2012: AED 3.14 billion). The decrease was primarily due to a reduction in cash and bank balances of AED 50m due to loan repayments of AED 30m and also due to a healthy drop in trade receivables and unbilled revenue during the quarter. Mohannad Sweid, CEO of Depa Ltd, said: “We have seen a strong start to the year and are making good progress especially in our contracting business in the Gulf countries, most notably Saudi Arabia. Over the past few years we have positioned the business ready for a recovering market and we are seeing a rise in the number of projects for tender. It is early days and we remain cautious as to the projects we take on. Careful project selection has helped margins improve this quarter and we will continue to look for further margin improvement over time and get back to historical levels.”
 

Read More

  Dana Gas profit nets AED 241 mln, up 17% y/y
May , 15 , 2013  
  Dana Gas PJSC,the Middle East’s largest regional private sector natural gas company, announces its financial results for the firstquarter ended 31 March 2013 with a net profit after tax of AED 241 million (US$ 66 million),anincrease of 17% as compared to AED 206 million (US$56 million) in Q1 2012.Revenue from the sale of hydrocarbons during Q1 2013 was AED 557 million (US$ 152 million). Revenues and gross profit declined during Q12013,owing to a conservative cash policy towards capital expenditureand a temporary suspension of Liquefied Petroleum Gas (“LPG”) production in Kurdistan Region of Iraq (“KRI”). Revenues and gross profits are expected to increase as new discoveries in Egypt are brought to production and upon resumption of LPG production in Kurdistan in June 2013 following completion of repairs to the LPG loading bay. Commenting on the results, Dr. Adel Al-Sabeeh, Chairman of Dana Gas, said: “Our disciplined approach and long-term business strategy has allowed Dana Gas to achieve an encouraging first quarter while completing the refinancing of the sukuk and posting an increase in net profit. We arecommitted to expanding regionally and were successful in our bid to be awarded anoil and gas prospecting project in northern offshore Egypt as well as pre-qualifying in Lebanon’s first offshore licensing round.” Rashid Al-Jarwan, Executive Director and Acting Chief Executive Officer of Dana Gas, added: “We have had an active start to the year. Egypt and Kurdistan have increased their quarterly production as we brought on stream discoveries, added compression facilities to enhance current production. These developments, combined with the completion of the sukuk refinancing have meant we can approach the rest of 2013 with renewed confidence and ensure our future growth plans deliver value to our stakeholders.”
 

Read More

  Eurozone industrial production rises
May , 15 , 2013  
  Industrial production in the Eurozone grew 1.0% MoM in March, considerably faster than the 0.3% MoM (revised) rise seen in February. The market had forecasted the output to increase 0.5% MoM.
 

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