Mena News

 

  Natural gas declines on supply data
Feb , 11 , 2013  
  Natural gas futures fell Friday after the recent Energy Information Administration (EIA) report indicated less-than-expected decline in supplies. Natural gas futures for delivery in March shed 0.14% to close at USD3.280 per mbtu on the NYMEX.
 

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  Copper gains on upbeat macroeconomic data
Feb , 11 , 2013  
  Copper reversed its losses Friday driven by some upbeat macroeconomic data from the US and China. Copper futures for delivery in March increased 0.9% to close at USD3.761 a pound on the Comex division of the NYMEX.
 

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  United Development Company to sell 99% stake in Enterprise Development Company
Feb , 10 , 2013  
  United Development Company announced plans to divest its 99% interest in Enterprise Development Company. The company would liquidate the stake in case it does not find any buyer before May 5, 2013.
 

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  Dana Gas sells stake in Hungarian oil firm
Feb , 10 , 2013  
  Dana Gas sold its 1.675 million shares (more than half) in MOL Group. According to data from MOL, the former held a 3.0% stake at the end of 3Q12.
 

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  Qatar posts budget surplus for July–September 2012
Feb , 10 , 2013  
  According to preliminary data from Qatar Central Bank, Qatar reported a budget surplus of USD26bn (QAR94.6bn) during the July–September quarter compared to the QAR42.2bn surplus reported in the same period of 2011 and QAR18.5bn deficit in the previous quarter.
 

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  US exports to Arab nations surge in 2012
Feb , 10 , 2013  
  Total value of US exports to 22 Arab nations increased 17% to USD65.9bn in 2012, up 17.3% YoY. UAE was the top importer with the total value of imports at USD22.6bn (up 41.9% YoY), followed by Saudi Arabia with total imports of USD18.1bn (up 31% YoY).
 

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  Increase in German industrial production
Feb , 10 , 2013  
  Germany’s industrial production climbed 0.3% MoM, after falling 0.2% MoM in November, exceeding the market estimates of a 0.2% MoM gain.
 

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  Bank lending rises in Japan
Feb , 10 , 2013  
  Bank lending advanced 1.6% YoY to JPY402.98tr in January, surpassing the market forecast of a 1.1% YoY increase.
 

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  China posts higher-than-expected trade surplus
Feb , 10 , 2013  
  China recorded a merchandise trade surplus of USD29.2bn in January, beating the market estimates of USD24.20bn.
 

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  Gold declines on upbeat macroeconomic data
Feb , 10 , 2013  
  Gold settled lower on some upbeat macroeconomic data from the US and China. Gold futures for April delivery decreased 0.3% to end at USD1,666.90 an ounce on the Comex division of the NYMEX.
 

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