Mena News

 

  Amana Cooperative Insurance Company reports 2012 results
Feb , 27 , 2013  
  Amana Cooperative Insurance Company’s net loss declined 37% YoY to SAR38.4mn in 2012. Net claims stood at SAR32mn vis-à-vis SAR48mn in 2011.
 

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  United Gulf Bank reports 2012 results
Feb , 21 , 2013  
  United Gulf Bank’s net profit surged 633.3% YoY to USD11mn in 2012 driven by upbeat results from associates, higher fees and commission income, and drop in interest and operating expenses. Total assets declined 30.9% YoY to USD1.2bn at the end of 2012.
 

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  Egypt’s economy advances 2.4% in 2H12
Feb , 21 , 2013  
  Egypt’s economy grew 2.4% in 2H12 on support from consumer spending. According to the country’s minister for planning and international cooperation, the annual economic growth for 1H13 is expected at 3%, vis-à-vis the government’s forecast of 4%, amid political instability in the country.
 

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  US producer prices rise on higher food prices
Feb , 21 , 2013  
  Producer prices in the US rose modestly in January with the producer price index climbing 0.2%, while the market expected 0.3% growth. The rise in producer prices is mainly ascribed to higher food prices that offset the decline in energy prices.
 

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  US housing starts decline sharply
Feb , 21 , 2013  
  New residential construction activity in the US dipped sharply as a result of a decline in multi-family housing starts. Housing starts decreased 8.5% to a seasonally adjusted rate of 890,000 in January, lower than the market estimate of 914,000.
 

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  UK jobless claims decline more than expected
Feb , 21 , 2013  
  Jobless claims in the UK declined by 12,500 MoM to 1.54mn in January, whereas the market expected a more modest fall of 5,500. The jobless claimant count rate came in at 4.7% in January.
 

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  Germany’s inflation eases in January
Feb , 21 , 2013  
  Germany's inflation rate slowed in January with the Harmonized Index of Consumer Prices (HICP) coming in at 1.9% YoY vis-à-vis 2.0% YoY in December, in line with market expectations.
 

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  Producer prices rise in Germany
Feb , 21 , 2013  
  Producer price inflation in Germany climbed to 1.7% YoY in January from 1.5% in December. In contrast, the market expected the inflation rate to ease to 1.2% YoY.
 

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  France’s leading index declines in December
Feb , 21 , 2013  
  The French leading index declined 0.2% in December, after rising 0.4% the previous month. Meanwhile, the coincident index rose 0.1%.
 

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  Italy’s industrial orders decline more than expected
Feb , 21 , 2013  
  New industrial orders in Italy decreased 1.8% MoM in December, considerably faster than the market estimate of 0.2% MoM. New orders in the domestic market fell 1.3% MoM and non-domestic market 2.5% MoM.
 

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