Mena News

 

  Abu Dhabi Ports Company reports growth in traffic
Feb , 12 , 2013  
  Abu Dhabi Ports Company reported growth in all categories in 2012, including roll-on roll-off (RORO) movements (41.4% YoY), marine activity (13.8% YoY), and general bulk and cargo (8.7% YoY).
 

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  Finance House announces results for 2012
Feb , 12 , 2013  
  Abu Dhabi-based Finance House’s net profit increased 20.4% YoY to AED72.2mn in 2012. Total assets grew 6% YoY to AED3.7bn, while customer deposits surged 16.5% YoY to AED1.8bn.
 

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  Fitch affirms Saudi Hollandi Bank's ratings
Feb , 12 , 2013  
  Fitch affirmed Saudi Hollandi Bank's Long-term Issuer Default Rating at 'A-' with a stable outlook and Viability Rating (VR) at 'bbb'. The ratings are based on the assumption that the country’s authorities would support the bank in case of emergency and on its strong corporate and commercial banking franchise.
 

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  Fitch affirms Saudi Electricity Company’s ratings
Feb , 12 , 2013  
  Fitch affirmed Saudi Electricity Company’s Long-term Issuer Default Rating (IDR) and senior unsecured rating at AA-. The outlook on long-term IDR is stable. The robust rating reflects sovereign support and sufficient liquidity.
 

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  Drake and Scull International confirms variation in contract
Feb , 11 , 2013  
  Drake and Scull International confirmed a variation in the 4Q12 contract in the western province of Saudi Arabia and the Mechanical, Engineering and Plumbing (MEP) contract for Phase III of Jabal Omar Development. As a result, the total number of awarded projects stood at AED3bn in 4Q12. The value of total awarded projects increased 21% YoY to AED5.4bn in 2012.
 

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  Wholesale inventories decline unexpectedly in the US
Feb , 11 , 2013  
  US wholesale inventories decreased unexpectedly in December due to a large drop in inventories of non-durable goods. Wholesale inventories declined 0.1%, while the market was expecting an increase of 0.4%.
 

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  Eurozone agrees on a 3.3% budget cut
Feb , 11 , 2013  
  The European Union reached an agreement for a 3.3% cut in its annual budget over 2014–20. This marked the first budget cut, with the new budget at EUR960bn.
 

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  US construction sector recovers in 4Q
Feb , 11 , 2013  
  The construction sector in the UK recovered modestly in 4Q after declining in previous quarters. Total volume of construction output rose 0.9% QoQ after declining 2.2% QoQ in 3Q. Private housing and infrastructure sectors were the highest contributors, rising 5.9% QoQ and 4.2% QoQ, respectively.
 

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  Inflation eases in Greece
Feb , 11 , 2013  
  Inflation in Greece eased for the third successive month with the Consumer Price Index declining 1.4% MoM after falling 0.3% MoM in December. At the same time, consumer prices contracted 0.2% YoY, marking the slowest rise since 2001.
 

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  Decline in home loans in Australia
Feb , 11 , 2013  
  The number of new home loans in Australia fell 1.5% MoM on a seasonally adjusted basis in December 2012. The total value of loans declined 2.7% MoM to AUD13.5bn during the same period.
 

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