Mena News

 

  Japan raises its GDP outlook for 2013
Jan , 29 , 2013  
  The Japanese government revised its economic growth forecast for fiscal year 2013, expecting recent policy measures to lead to an improvement in coming months. The government now expects GDP growth of 2.5% vis-ŗ-vis 1.7% estimated previously.
 

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  Crude edges higher on concerns over supply
Jan , 29 , 2013  
  US crude oil ended higher on supply concerns over the current situation in the Middle East, especially with reports of a pipeline blast in Algeria. Light Sweet Crude Oil futures for delivery in March gained 0.6% to end at USD96.44 a barrel on the NYMEX.
 

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  Gold settles lower on strengthening dollar
Jan , 29 , 2013  
  Gold futures settled lower as the dollar strengthened on some mixed macroeconomic data from the US. Gold futures for delivery in February declined 0.2% to USD1,652.90 an ounce on the Comex division of the NYMEX.
 

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  Eurozone private sector activity slows down in January
Jan , 28 , 2013  
  The Euro area private sector activity contracted at a slower pace in January. The composite output index increased to a 10-month high of 48.2 in January from 47.2 in December, while the market expected a rise to 47.5. On the other hand, the services Purchasing Managers' Index rose to 48.3 from 47.8 in December.
 

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  Eurozone current account surplus moves up in November
Jan , 28 , 2013  
  Eurozone's current account surplus increased to EUR14.8bn in November from EUR8bn in October on a seasonally adjusted basis. The goods account surplus rose to EUR12.6bn from EUR10.2bn in October, while the services account surplus declined to EUR7.1bn.
 

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  Commercial Bank of Qatar posts 2012 results
Jan , 28 , 2013  
  Commercial Bank of Qatar recorded net income of QAR447mn (USD123mn) in 4Q12, up 19%YoY. The bank reported net income of QAR2bn in 2012 from QAR1.9bn in 2011 and announced dividend of QAR6 per share.
 

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  United Arab Bank posts higher earnings in 2012
Jan , 28 , 2013  
  United Arab Bankís net profit increased 24% YoY to AED410mn in 2012 due to a rise in the number of branches, expanded product offerings and new SME businesses. Loans and advances to customers surged 35% YoY to AED10.9bn in 2012. Customer deposits moved up 29% YoY to AED10.1bn.
 

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  Crude edges lower on demand concerns
Jan , 27 , 2013  
  US crude oil edged marginally lower on Friday due to persisting demand concerns with some weak new home sales data from the US. Light sweet crude futures for delivery in March fell 0.1% to end at USD95.88 a barrel on the NYMEX, after reaching a sessionís high of USD96.56 and a sessionís low of USD95.43.
 

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  UKís economy contracts in the fourth quarter
Jan , 27 , 2013  
  UKís gross domestic product (GDP) contracted 0.3% on a sequential basis in the fourth quarter of 2012, reversing the 0.9% growth registered in the previous quarter (driven by the London Olympics). Economists predicted a more modest decline of 0.1% in the fourth quarter.
 

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  US leading index rises more than estimated
Jan , 27 , 2013  
  The latest Conference Board report indicated the leading economic index rose 0.5% in December, beating the market estimates of a 0.4% increase. The expansion was mainly driven by an improvement in initial jobless claims and positive contributions from the interest rate spread.
 

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