Mena News

 

  HSBC reports 6% profit drop
Mar , 05 , 2013  
  Banking giant HSBC Monday reported a 6 percent drop in full-year profits to 20.6 billion US dollars (13.7 billion pounds). The figure, which comes despite HSBC's record fine of 1.9 billion US dollars (.2 billion pounds) to settle a US investigation into money-laundering, was below forecasts of around 23.4 billion US dollars (15.6 billion pounds), experts said. The banking group makes an estimated 90 percent of its money outside Britain and has benefited from its exposure to emerging markets in Asia. Chief executive Stuart Gulliver received a bonus of just under 2 million pounds as part of a total pay and benefits package worth 7.4 million pounds. The overall figure, which compares with 8 million pounds a year earlier, includes his base salary of 1.25 million pounds, around 1.2 million pounds of benefits including pension entitlement, plus long-term share incentive awards worth 3 million pounds. HSBC suffered massive losses at the start of the financial crisis, due to its investment in US sub-prime mortgage lender Household Finance, but since taking over as chief executive in 2011 Gulliver has led an overhaul of the bank's operations. He has reduced staff by around 10 percent to the current 270,000 and announced the disposal or closure of 47 businesses and non-core investments. Stripping out the impact of movements in the value of its debt, HSBC said underlying profits were up 18 percent to 16.4 billion US dollars (10.9 billion pounds). This includes the fines levied by US authorities and an increased provision of 1.7 billion US dollars (1.1 billion pounds) to cover insurance mis-selling claims and 598 million US dollars (398 million pounds) on interest rate swaps in the UK. In a statement, Gulliver said: "HSBC made significant progress in 2012. First and foremost we grew our business. We increased revenues, performed well in most faster-growing markets and enjoyed a record year in commercial banking.
 

Read More

  Gold settles lower on strengthening dollar
Mar , 03 , 2013  
  Gold ended at a seven-month low as the dollar strengthened after some upbeat economic data from the US. Gold for April delivery declined USD5.8 to close at USD1,572.30 a troy ounce on the NYMEX.
 

Read More

  Germany’s inflation eases less than expected
Mar , 03 , 2013  
  Germany’s inflation eased lower-than-expected in February. The harmonized index of consumer prices (HICP) contracted to 1.8% from 1.9% in January, while economists projected a drop to 1.7%.
 

Read More

  Eurozone inflation slowed down in January
Mar , 03 , 2013  
  Inflation in the Eurozone eased in January as estimated earlier. The harmonized index of consumer prices (HICP) increased 2% YoY in January, after climbing 2.2% YoY in December.
 

Read More

  Chicago Business Barometer indicates improvement in business activity
Mar , 03 , 2013  
  Business activity in the Chicago-area (US) increased at a faster pace with the Chicago business barometer rising to 56.8 in February from 55.6 in January.
 

Read More

  US personal income retreats in January
Mar , 03 , 2013  
  Personal income in the US declined more-than-expected in January, after rising notably the previous month. Personal income fell 3.6% after rising 2.6% in December, while the market was anticipating a decrease of 2.1%.
 

Read More

  US jobless claims drop sharply
Mar , 03 , 2013  
  Initial jobless claims in the US fell to 344,000 in the week ended February 23, a decrease of 22,000 from the prior week's figure of 366,000.
 

Read More

  Lower growth in US economy
Mar , 03 , 2013  
  Growth in the US economy was lower than market forecasts in 4Q 2012. GDP expanded at an annual rate of 0.1% (revised) in 4Q compared to the 0.1% drop reported earlier, while the market was expecting growth of 0.5%.
 

Read More

  Al-Shamel International Holding Company announces 2012 results
Mar , 03 , 2013  
  Al-Shamel International Holding Company’s net profit dropped 5.2% YoY to KWD1.1mn in 2012. Board of Directors proposed a cash dividend of 14.9%.
 

Read More

  Arabtec CEO resigns
Feb , 28 , 2013  
  Dubai-based Arabtec Holding’s CEO, Riad Kamal, has resigned from his position. He would be replaced by current Managing Director Hasan Ismaik.
 

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