Sunday, Sep 04, 2011
The following is a list of top 10 business stories published by Zawya Dow Jones on Sunday at 1330 GMT.
1.ARAB FINANCE MINISTERS TO HOLD EXCEPTIONAL MEETING THIS WEEK
Arab finance ministers will gather for an "exceptional meeting" in the United Arab Emirates Sept. 7 to discuss global economic developments and political changes across the Arab world, and their implications on regional economies, the U.A.E.'s finance ministry said Sunday.
By Leila Hatoum
2.KUWAIT OIL MIN: AUG OUTPUT ABOVE 2.8M B/D; MKT NEEDS CRUDE
OPEC member Kuwait produced above 2.8 million barrels a day of crude in August, the Gulf Arab state's oil minister told Kuwait's state news agency Kuna and warned that world oil markets are in need of more supplies.
By Dubai Bureau
3.GULF STKS END MIXED; MKTS EYE INTL CUES,VOLS SEEN RISING
Stock markets in the Persian Gulf end mixed Sunday; volumes light. Regional market activity is seen picking up this week as investors return from a long religious holiday.
By Nikhil Lohade
4.EGYPT RATINGS OUTLOOK MAY NOT HAVE BOTTOMED -BOA-ML
Egypt may see a further sovereign downgrade in the short term but creditworthiness is likely to improve in the longer term, says Bank of America Merril Lynch.
By Oliver Klaus
5.DUBAI HOTEL OCCUPANCY RISES MOST IN REGION IN JULY -E&Y
Dubai hotel occupancy witnessed the biggest year-on-year increase in the region in July, up to 80.8% from 70.3%, Ernst & Young says in a report.
By Tahani Karrar-Lewsley
6.UAE REAL GDP GROWTH RATE SEEN AT 3.9% IN 2011 - BELTONE
U.A.E.'s real GDP growth is expected to accelerate to 3.9% and 4.5% in 2011 and 2012, respectively, from 2.2% in 2010, led by the non-hydrocarbon sector, says Cairo-based investment bank Beltone Financial.
By Leila Hatoum
7.FRANCE'S ALSTOM AWARDED EUR66M IRAQ POWER DEAL - MIN OFFICIAL
French engineering firm Alstom S.A. (ALO.FR) has signed a EUR66 million contract with Iraq to build a power substation in the northern Nineveh governorate, a spokesman for the Iraqi electricity ministry said.
By Hassan Hafidh
8.BAHRAIN GULF FIN HOUSE 2Q NET LOSS NARROWS TO $11.2M VS $40.2M
Bahrain-based Gulf Finance House said Sunday its second-quarter net loss narrowed to $11.2 million compared to a net loss of $40.2 million for the same period in 2010 "due to higher finance expenses and exchange rates".
By Brinda Darasha
9.OCI 2Q PFT SEEN +15% YOY ON SOLID FERTILIZER LINE -CI
Cairo-based investment bank CI Capital sees Orascom Construction Industries, or OCI, second quarter net profit at $165.5 million, or 15% higher year-on-year, on solid fertilizer line of business performance.
By Shereen El Gazzar
10.OIL BELOW $70 MAY AFFECT SAUDI SPEND PLANS -CAP ECONOMICS
Concerns that the global economy may fall into recession again have increased the likelihood of a drop in the oil price, which in turn poses some downside risks to Saudi Arabia's economy, says London-based Capital Economics.
By Nikhil Lohade
-Dubai Bureau, Dow Jones Newswires; +9714 3748044; djnews.dubai@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
04-09-11 1331GMT
