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News & Views General Egypt’s Ezz Steel announced to invest $475 Mn to establish a new billet production line and a direct reduced iron plant. Abu Dhabi National Oil Company told its clients that it will trim their October allocations by 15% from its four fields in line with OPEC production cuts. Qatar Telecom has [...]
Encouraging news from across the globe kept investors bullish and major markets closed on a positive note for the week ended August 28, 2009. The US jobless claims fell by 10,000 to 570,000 for the week ended August 22, signaling improvement in the economy, while US Consumer Sentiment Index dipped marginally to 65.7 in August [...]
News & Views General Bahrain’s Telecommunications Regulatory Authority auctioned its third mobile phone license to STC Telecom for $240 Mn. Zain Group announced completion of the merger between Zain Jordan and Palestinian Telecommunications Company. GE Energy signed multi-year service contract valued at over $45 Mn with Dubai Aluminium Company Limited (Dubal). The contract will help [...]
News & Views General Depa won AED9.2 Mn worth contract in Angola to diversify its revenues and face the downturn in the domestic market. Yahoo announced to acquire Arabic online portal Maktoob.com to expand in the Middle East. Yahoo will buy 100% stake in Maktoob.com and Maktoob Research. Egypt’s economy is estimated to grow by [...]
News & Views General Qatar Shipping Company announced the setting up of Pacific Marine Services for providing loading, unloading and handling of goods by land, sea and maritime transport services with capital of QR0.2 Mn. Moody’s Investors Service has downgraded the bank financial strength rating (BFSR) of HSBC Bank Middle East (HBME) to C from [...]
Markets across the US and Europe, following a marginal decline the previous week, resumed their uptrend as positive news flow kept investors bullish for the week ended August 21, 2009. Home purchases in the US rose 7.2 percent year-on-year to 5.24 million in July, the highest rise since August 2007. Furthermore, the Conference Board’s coincident [...]
News & Views General Dubai-based Al Habtoor Group plans to invest up to $1.3 Bn in British banks and hotels. Qatar Telecom (Qtel) plans to soon launch its wireless broadband operations in the Philippines as it looks to boost revenue share from its foreign operations Qatar Shipping Co, which is merging with Qatar Navigation, plans [...]
Mumbai: August 20, 2009: Aranca, a global provider of end-to-end, customized financial and business research, valuation services and IP research, has been recently appointed as the Exclusive Research Partner by the Association of Management Consulting Firms (AMCF). Aranca will independently conduct the prestigious 23rd AMCF Operating Ratios of Management Consulting Firms Survey, 2008. AMCF has [...]
News & Views General The Syrian unit of Qatar National Bank (QNB) came up with an initial public offering worth SYP1.7 Bn ($36.9 Mn) which was oversubscribed 1.7 times. UAE based Etihad Airways plans to enter into the hospitality sector by having its own hotels to meet the growing demand of the tourism industry. RAK [...]
US markets declined marginally, capping their first weekly loss in a month amid rising concerns that the five-month rally in equities outpaced the prospects of a revival in the economy. The US Consumer Confidence Index slipped to 63.2 in August, its lowest level since March, from 66 in July 2009. Retail sales, excluding automobiles, declined [...]
