Mena News

 

  Eurozone construction output continues to decline
Feb , 20 , 2013  
  Construction output in the Eurozone continued to decline in December at a marginally faster rate than the previous month. The output decreased 4.8% YoY in December, after declining 4.7% YoY in November and 3.3% YoY in October. Construction of buildings fell 6.2% YoY, while civil engineering activity edged down 2.9% YoY.
 

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  OECD economy contracts in 4Q
Feb , 20 , 2013  
  Economic activity in the Organization for Economic Cooperation and Development Area (OECD) declined in 4Q 2012 for the first time since 1Q 2009. GDP decreased 0.2% QoQ on a seasonally adjusted basis after rising 0.3% QoQ in 3Q.
 

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  Homebuilder confidence declines in the US
Feb , 20 , 2013  
  Homebuilder confidence in the US deteriorated unexpectedly, with the NAHB/Wells Fargo Housing Market Index falling to 46 in February from 47 in January. In contrast, the market expected the index to rise to 48.
 

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  Drake & Scull Qatar wins QAR300mn contract
Feb , 20 , 2013  
  Drake & Scull Qatar, a subsidiary of Drake & Scull International, won a QAR300mn contract to design, supply, install and commission all MEP works for a real estate project in Doha.
 

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  Dubai Investments seeks to issue AED1bn sukuk
Feb , 20 , 2013  
  Dubai Investments is planning to launch an AED1bn sukuk to finance expansion and pay liabilities. The company is considering investing in Tunisia and Libya.
 

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  Dana Gas to seek shareholder approval to restructure sukuk
Feb , 20 , 2013  
  Dana Gas would seek approval from shareholders to restructure its USD920mn sukuk in a meeting on March 14.
 

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  DFM reports 2012 results
Feb , 20 , 2013  
  Dubai Financial Market posted a net profit of AED35.2mn in 2012 compared with a net loss of AED6.9mn in 2011. Total revenues rose 8.2% YoY to AED191mn during the same period.
 

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  Burgan Bank posts 2012 results
Feb , 20 , 2013  
  Kuwait-based Burgan Bank’s net profit rose 10% YoY to KWD55.6mn in 2012. Operating income grew 16% YoY to KWD190mn during the same period.
 

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  Nickel falls on weak demand outlook
Feb , 19 , 2013  
  Nickel declined the most in four months on signs of weak demand from China. Nickel futures for delivery in three months fell 2.7% to close at USD17,890 per ton on the LME.
 

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  Copper declines to near three-week low
Feb , 19 , 2013  
  Copper prices declined to a near three-week low after signs of weak global growth dampened the demand outlook for the metal. Copper futures for delivery in three months closed at USD8,119 per ton on the LME vis-ŕ-vis USD8,207 the previous day.
 

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