Brent steady above $113 on bargain buys after price slump
Brent recovers after 4 straight sessions of losses; Hedgers, bargain hunters buy on price slump; U.S. crude inventory to rise for 7th week - poll
May 8, 2012 7:43-
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Kuwait's Global Investment 2011 net loss narrows
Kuwait's Global Investment House , which is undergoing its second debt restructuring in three years, said 2011 net loss narrowed compared with the previous year, helped by lower write downs of its financial assets.
May 8, 2012 7:41 -
Saudi's Naimi says Kingdom pumping most in 5 months
Saudi storing 80 million barrels of working inventory in case of emergencies; ready to tap 2.5 million barrels per day of spare capacity if demand is there
May 8, 2012 7:39
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Dubai Financial Market Q1 profit jumps on higher trading
Dubai Financial Market (DFM), the Gulf Arab region's only listed bourse, posted a sharp rise in quarterly profits thanks to increased trading on the exchange, it said on Monday
May 8, 2012 7:35 -
Kuwait telco Zain's Q1 profit up 2 percent
Q1 profit 70.9 mln dinars vs 69.9 mln dinars a year earlier; Q1 revenue 326 mln dinars, up from 324.4 mln dinars in Q1 2011
May 8, 2012 7:33 -
Aramco steps into trading, sees higher product volumes
Saudi Aramco Products Trading Co, the top oil exporter's new trading arm, expects its refined oil products trading volumes to rise to 1.5 million barrels per day (bpd) as it aims to capitalise on its strong market position, the firm's chief executive said on Monday.
May 8, 2012 7:31
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DÉJÀ VU: On Abu Dhabi’s ‘aerotropolis’ ambitions.
As Kipp learns of the developments at Abu Dhabi’s ambitious Midfield Terminal project, we are eerily reminded of Dubai’s delay-prone but equally ambitious Al Maktoum International Airport…
May 7, 2012 6:49 -
A NIFTY EXIT: Qatar brokers and Egypt's EFG Hermes
A joint venture, to be 60 percent owned by QInvest, will hold the Egyptian banks core businesses: asset management, research, brokerage and investment banking. Once the deal closes EFG shareholders will get a one-off dividend payout worth one third of EFG's current $1.1 billion market capitalisation.
May 7, 2012 6:45 -
UAE panel proposes cut in local fuel prices
Fuel prices in the United Arab Emirates are too high and should be brought down to match levels in other Gulf countries according to a proposal by an advisory council's committee, daily newspaper Gulf News said on Monday
May 7, 2012 3:45
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ENBD'S Islamic arm plans $500 million sukuk sale in 2012
Emirates NBD's Islamic unit plans to issue more than $500 million sukuk this year and expects to merge with Dubai Bank before the end of 2012, Al Khaleej Arabic daily newspaper reported on Monday
May 7, 2012 3:42 -
Dubai's Drydocks restructuring hit by Singapore snag
Legal proceedings in the $2.2 billion debt restructuring of Dubai World's shipbuilding unit have been delayed due to a court challenge in Singapore over a rig-building contract, a lawyer said on Monday
May 7, 2012 3:40 -
South Korea says UAE, Saudi promise more oil
The United Arab Emirates and Saudi Arabia have promised to fill any gap in South Korea's oil imports if supplies from Iran are disrupted, South Korean Minister of Strategy and Finance Bahk Jae-wan said on Monday.
May 7, 2012 3:34
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Qatar energy minister says Middle East oil supply reliable
Qatar's energy minister said on Monday oil production in the Middle East remains reliable and there is no shortage of supply in the market
May 7, 2012 3:31 -
Shares in Egyptian Bank EFG Hermes Climb on Qatari Deal
Shares in Egypt-based investment bank EFG Hermes rose on Monday following the announcement of an agreement with Qatar's QInvest to form a region-wide investment bank
May 7, 2012 3:27 -
Etihad drops more A350s in setback to Airbus
Abu Dhabi airline cancels 7 next-generation A350-1000s; aircraft worth over $2 billion at today's list prices; same Gulf carrier cancelled 6 A350-1000s in December; Airbus says A350-1000 is more efficient than Boeing 777
May 7, 2012 3:24
