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Top 10 Stories On Zawya Dow Jones On Feb. 14 At 1350 GMT
Tuesday, Feb 14, 2012
The following is a list of top 10 business stories published by Zawya Dow Jones on Tuesday at 1350 GMT.
1. DUBAI'S EMAAR 4Q NET MORE THAN DOUBLES ON INTL OPS
Dubai's Emaar Properties (EMAAR.DFM) 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.
2. 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 Tuesday.
3. KUWAIT'S ZAIN 4Q NET PFT -14% ON FOREIGN EXCHANGE FLUCTUATIONS
Kuwait's Mobile Telecommunications Co., better known as Zain (ZAIN.KW), posted a 14% decline in fourth quarter net profit as losses on currency fluctuations continued to weigh.
By Shereen El Gazzar
4. 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.
By Asa Fitch
5. STRIKE AT DP WORLD'S EGYPT TERMINAL HALTS WORK FOR THIRD DAY
strike by port workers halted work at DP World's (DPW.NDB) Sokhna terminal in Egypt for the third straight day Tuesday, but the Dubai-based global ports operator hopes to resume normal operations soon.
By Nikhil Lohade
6. BAHRAIN'S GULF AIR SAYS TO CLOSE FOUR INTERNATIONAL ROUTES
Bahrain's national airline Gulf Air said Tuesday 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.
By Brinda Darasha
7. S&P WARNS ON RISKS FROM RISING TENSIONS BETWEEN IRAN AND THE WEST
Rising tension between Iran and the West is increasing political and economic risks for borrowers in the Middle East, Standard & Poor's Ratings Services said Tuesday, underlining another growing risk for credit markets already under pressure from financial strains in the euro zone.
By Arran Scott
8. 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.
By Hassan Hafidh
9. ABU DHABI'S TAQA SWINGS TO 4Q LOSS ON IMPAIRMENT CHARGE, UK TAXES
Abu Dhabi National Energy Co., better known as Taqa, swung to net loss in the fourth-quarter as a one-off impairment charge and a big U.K. tax bill weighed on its earnings.
By Asa Fitch
10. MOST GULF STKS END UP; EARNS PACE MKTS, ALDAR UP
Most Persian Gulf stock markets end higher Tuesday; fourth-quarter earnings drive volumes.
By Nikhil Lohade
-Dubai Bureau, Dow Jones Newswires; +9714 3748044; djnews.dubai@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
14-02-12 1350GMT
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