Emaar Properties 4Q net profit more than doubles on international operations
Dubai's Emaar Properties said it plans to grow the share of revenue it collects from its international operations this year as well as bolstering recurring income as it posted a fourth quarter net profit that was more than double that of the year earlier.
Zawya Dow Jones News - Tue 14Feb12 11:34 GMT
Kuwait's Zain 4Q net profit -14% on foreign exchange fluctuations
Kuwait's Mobile Telecommunications Co., better known as Zain, posted a 14% decline in fourth quarter net profit as losses on currency fluctuations continued to weigh.
Zawya Dow Jones News - Tue 14Feb12 09:41 GMT
Mena currencies seen safe from devaluation -Standard Chartered
Despite pressure on some Mena countries' currencies due to political and security tensions a devaluation seems unlikely, says Marios Maratheftis at Standard Chartered Bank.
Zawya Dow Jones News - Tue 14Feb12 06:31 GMT
Aldar swings to profit on land sales, recurring revenue
Abu Dhabi-based developer Aldar Properties Co. said it swung to a full-year 2011 net profit of 642.5 million U.A.E. dirhams ($174.9 million) from a loss of AED12.66 billion the previous year, boosted by land sales and recurring revenue from investment properties, hotels and schools.
Zawya Dow Jones News - Tue 14Feb12 04:07 GMT
Abu Dhabi Islamic Bank 4Q net profit nearly doubles to AED216.2m
Abu Dhabi Islamic Bank, the second-largest Islamic bank by assets in the United Arab Emirates, said fourth-quarter net profit almost doubled to 216.2 million U.A.E. dirham ($58.9 million) from the AED114.1 million posted in the year ago period, as provisions and impairments declined.
Zawya Dow Jones News - Tue 14Feb12 05:40 GMT
S&P reports assess economic and credit impact of tensions in Gulf
Rising tension between Iran and the West is increasing political and economic risks for sovereign and corporate issuers in the Middle East and focusing attention on the key role of the Strait of Hormuz in trade for the Gulf, says Standard & Poor's Ratings Services.
Zawya Dow Jones News - Tue 14Feb12 04:51 GMT
Saudi annual inflation in Jan flat at 5.3% Vs Dec - CDSI
Annual inflation in Saudi Arabia was flat at 5.3% in January, similar to that in December, the country's Central Department of Statistics and Information said in a report carried on the state-run news agency.
Zawya Dow Jones News - Tue 14Feb12 04:28 GMT
Qatar to build new $5.5 bn petchem plant by 2018
Qatar will build a $5.5 billion petrochemical plant in the northern industrial city of Ras Laffan by 2018, as the Gulf state steps up investment to utilize its huge gas reserves.
Zawya Dow Jones News - Tue 14Feb12 04:27 GMT
Etihad Air to increase fuel surcharge due to EU carbon tax
Abu Dhabi-based Etihad Airways said it will increase its fuel surcharge by $3 per passenger on European flights starting next month to offset the costs of the European Union's emissions tax system.
Zawya Dow Jones News - Tue 14Feb12 04:13 GMT
QNB Finance sets pricing on dollar bond at swaps +2.45 area
QNB Finance, a subsidiary of Qatar National Bank, has set pricing on its benchmark-size, dollar-denominated, five-year bond, in the area of 245 plus or minus 10 basis points over midswaps, of the banks running the deal said.
Zawya Dow Jones News - Tue 14Feb12 10:05 GMT
Bahrain's Gulf Air says to close four international routes
Bahrain's national airline Gulf Air said it will stop services to four international destinations--Damascus, Athens, Milan and Kuala Lumpur--as it struggles with falling passenger numbers due to regional unrest and high fuel prices.
Zawya Dow Jones News - Tue 14Feb12 11:15 GMT
Kuwait replaces oil minister with Ex-KPC head-Sources
Kuwait, a member of the Organization of Petroleum Exporting Countries, has appointed Hani Hussein, a former chief executive officer of Kuwait Petroleum Corp., or KPC, as oil minister, sources said.
Zawya Dow Jones News - Tue 14Feb12 12:21 GMT
Strike at DP World's Egypt terminal halts work for third day
A strike by port workers halted work at DP World's Sokhna terminal in Egypt for the third straight day Tuesday, but the Dubai-based global ports operator hopes to resume normal operations soon.
Zawya Dow Jones News - Tue 14Feb12 11:40 GMT
Kuwait forms new cabinet with change in oil, defence
Kuwait's Emir Sheikh Sabah al-Ahmad al-Sabah named a new cabinet on Tuesday with 10 new faces, including the oil and defence ministers, and no women.
AFP - Tue 14Feb12 11:38 GMT
Proposed buyout price positive for Mobinil shares -GS
Goldman Sachs says that the price agreed between France Telecom and OTMT is about 20% lower than the foreign exchange-adjusted strike implied by the put option agreement, which could have been exercised on Sept.15, 2012, but 48.5% higher than the last close, which is positive for Mobinil's share price, it says.
Zawya Dow Jones News - Tue 14Feb12 10:31 GMT
INTERVIEW: ICIEC sees rise in insurance demand after Arab Spring
The Islamic Corporation for the Insurance of Investment and Export Credit is growing rapidly as companies and banks with business in the Middle East seek a greater measure of financial protection in the wake of the Arab Spring.
Zawya Dow Jones News - Tue 14Feb12 10:27 GMT
Iraqis demonstrate for jobs at oil field
More than 400 people demonstrated at the entrance of a massive oil field in Iraq on Tuesday, calling on oil giant Shell to give them jobs, before police intervened and arrested two people.
AFP - Tue 14Feb12 10:08 GMT
Iraq oil officials say unaware of Leighton bribery probe
Senior Iraqi oil officials say they are unaware of an investigation by Australian police into an alleged illegal payment involving a subsidiary of Leighton Holdings Ltd. (LEI.AU) and a contract to expand the crude-oil export facilities near Basrah.
Zawya Dow Jones News - Tue 14Feb12 07:34 GMT
Saudi Cement Co. says putting 2 kilns back on line as cement demand rises
Saudi Cement Co. said it will reopen two kilns with a combined production capacity of 5,325 tons of clinkers by May, responding to rising demand for cement as the government spends billions of dollars building new infrastructure.
Zawya Dow Jones News - Tue 14Feb12 07:25 GMT
Industries Qatar FY2011 net profit jumps 45% to QAR7.93 bn
Steel-to-fertilizer conglomerate Industries Qatar reported a 45% jump in full-year 2011 net profit to 7.93 billion Qatari riyals ($2.18 billion), from QAR5.48 billion a year earlier.
Zawya Dow Jones News - Tue 14Feb12 06:56 GMT
Exxon barred from Iraq's 4th energy licensing round
U.S. energy giant Exxon Mobil Corp. (XOM) will be barred from Iraq's fourth oil-and-gas licensing auction, scheduled for May, because of the deals it struck with the country's semi-autonomous Kurdistan region, a spokesman for Iraq's Deputy Prime Minster for Energy Hussein al-Shahristani said.
Zawya Dow Jones News - Tue 14Feb12 05:50 GMT
Gulf markets seen mixed; focus on Aldar
Stock markets in the Gulf are seen mixed Tuesday as investors adopt a cautious view on Europe's debt woes after Moody's Investors Services downgraded several euro-zone nations.
Zawya Dow Jones News - Tue 14Feb12 05:39 GMT
Kuwait to complete China/Total deal feasibility study soon-KPC head
Kuwait will complete the feasibility study soon for a joint venture deal with and France's Total SA to build a 300,000 barrel per day refinery and 1 million metric ton-per-year ethylene complex in the southern city of Zhanjiang in China, the head of the country's state oil company said.
Zawya Dow Jones News - Tue 14Feb12 05:27 GMT
Egyptians revive calls for union law
A law was indeed drafted and approved by the government. But Egypt's ruling military council, faced with mounting strikes and stoppages by workers demanding improved pay and conditions, refused to approve it.
Financial Times - Tue 14Feb12 05:15 GMT
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