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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

Bahrain Must Restore Confidence in Its Economy-IMF

Bahrain must consider policies to help restore confidence in its economy after last year's pro-democracy uprisings hurt the small oil exporter's growth, the IMF said on Tuesday; Bahrain's economic growth slowed to 2.2 percent in 2011, down from 4.5 percent in the previous year after social unrest forced businesses to close and investors to withdraw from the country's mutual funds

April 25, 2012 10:49

Mashreq Bank Q1 Net Profit Up 2 Percent

Mashreq bank posted a 2 percent rise in first-quarter earnings, as a fall in provisions outweighed lower total income. Net profit increased to 271 million dirhams ($73.8 million) in the period, up from 265.3 million dirhams a year earlier, a bank statement said.

April 25, 2012 10:39

Aramex Q1 Net Profit Rises 22 Percent

Aramex posted a 22 percent rise in first-quarter net profit on Tuesday, driven by higher revenue from the Gulf and contributions from its recent South African acquisition

April 24, 2012 9:12