Mena News

 

  Crude edges lower as dollar strengthens
Feb , 10 , 2013  
  US crude oil ended lower with the dollar strengthening against the euro. Crude oil futures for March delivery fell 0.1% to USD95.72 a barrel on the NYMEX.
 

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  Equate Petrochemical Co. posts 2012 results
Feb , 10 , 2013  
  Kuwait-based Equate Petrochemical Co. recorded 3% YoY increase in net profit to USD1.1bn in 2012. Sales peaked to over USD2.6bn in 2012, led by strong global demand.
 

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  Jazeera Airways Group posts 2012 results
Feb , 10 , 2013  
  Jazeera Airways Groupís net profit increased to KWD13.9mn in 2012. Operating revenue rose 8.0% YoY to KWD62.6mn during the same period. The company plans to acquire a stake in Kuwait Airways, which is expected to be privatized.
 

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  Saudi Re announces 2012 results
Jan , 29 , 2013  
  Saudi Re posted net income after Zakat and tax of SAR9mn in 2012 due to the 190% YoY increase in net earned premium and 5% YoY decline in general and administrative expenses. The company had incurred a net loss of SAR54.4mn in 2011.
 

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  Etihad Airways to acquire 24% stake in Jet Airways
Jan , 29 , 2013  
  Etihad Airways plans to acquire 24% stake in Jet Airways for USD297mn; the deal is likely to take place in this week.
 

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  Masraf Al Rayan seeks shareholder approval to buy stake in a Libyan commercial bank
Jan , 29 , 2013  
  Masraf Al Rayan is seeking shareholder approval to acquire a strategic stake in a Libyan commercial bank through the issue of capital.
 

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  Ahli Bank records higher earnings in 2012
Jan , 29 , 2013  
  Ahli Bankís net profit increased 19.2% YoY to OMR21.7mn in 2012. Net operating income grew 20% YoY to OMR42mn, while total assets rose 18.2% YoY to OMR1,009mn. The Board approved a cash dividend of 5% and stock dividend of 5%.
 

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  Orders for durable goods rose in December
Jan , 29 , 2013  
  Orders for manufactured durable goods in the US increased more-than-expected in December due to strong growth in demand for transportation equipment. Durable goods orders jumped 4.6%, after rising 0.7% in November, while the market expected a rise of 1.6%.
 

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  Pending home sales decline in the US
Jan , 29 , 2013  
  US pending home sales fell more-than-expected in December, with the pending home sales index contracting 4.3% to 101.7, after climbing 1.6% to a two-year high of 106.3 the previous month. On an annual basis, the index gained 6.9% YoY.
 

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  Leading index of the Eurozone increases in December
Jan , 29 , 2013  
  A leading economic indicator of the Eurozone posted gains for the second consecutive month in December, with continued improvement in business and consumer sentiment. The leading index climbed 0.4% MoM to 105.5 in December after rising 0.6% MoM in November.
 

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