Economy
KSA banks net SR 15b gain in 1st 5 months
Saudi Arabia’s banks netted more than SR15 billion in the first five months of 2012 as lending continued to pick up and allow them to net one of their highest incomes through the year, according to official data.
Friday, 06 - July 2012
Saudi Airlines Catering Co will commence trading on the Kingdom’s stock exchange on July 9, a bourse statement said, after completing a 30-percent initial public offering which was more than twice covered by investors.
Friday, 06 - July 2012
Oil fell to near $87 a barrel Thursday in Asia as investors waited for word on whether European central bankers will take measures to boost flagging economic growth.
Friday, 06 - July 2012
The European Central Bank has cut its key interest rate by a quarter percentage point to a record low of 0.75 percent to boost a eurozone economy weighed down by the continent’s crisis over too much government debt.
Friday, 06 - July 2012
World Gold Council executives have held talks in Johannesburg to pave the way for the introduction of a global conflict-free gold standard.
Friday, 06 - July 2012
The low-carbon products and services sector, often referred to as green business, could contribute 20 billion pounds ($31.16 billion) to Britain’s economy by 2015, the country’s leading business lobby said Thursday.
Friday, 06 - July 2012
The United States will file a complaint against China on Thursday with the World Trade Organization for imposing duties on more than $3 billion worth of US-made autos, a senior US official said.
Friday, 06 - July 2012
US auto giant General Motors said Thursday its China sales for the first half of this year reached a record 1.42 million vehicles, despite an economic slowdown in the world’s biggest car market.
Friday, 06 - July 2012
Police block the street as workers march from a garment factory in Kandal province to protest at the Ministry of Labor and Vocational Training in capital Phnom Penh, Thursday.
Friday, 06 - July 2012
Turkey is set to mandate HSBC, Citi and Deutsche Bank to manage the sale of its first sukuk, or Islamic bond, banking sources told Reuters on Thursday.
Friday, 06 - July 2012
Emirates airline has announced that its five daily flights to London Heathrow will all be served by A380s by 1st February next year.
Friday, 06 - July 2012
Gold fell on Thursday as the dollar rose and investors took profits after a widely anticipated European Central Bank (ECB) rate cut, cancelling gains made earlier on a surprise rate cut by China.
Friday, 06 - July 2012
New Greek Prime Minister Antonis Samaras began talks with EU-IMF auditors on Thursday, hoping to renegotiate Greece’s second bailout as the country’s international creditors show signs of impatience.
Friday, 06 - July 2012
Donor nations gathering in Japan this weekend for a conference on Afghanistan are expected to pledge a total $15 billion in development aid through 2015, a report said Thursday.
Friday, 06 - July 2012
China has started stockpiling rare earths for strategic reserves, a state-backed newspaper said Thursday, in a move that may raise more worries over Beijing’s control of the coveted resources.
Friday, 06 - July 2012
Ireland returned to short-term debt markets Thursday for the first time since before its EU/IMF bailout in November 2010, paying less for three-month paper than Spain which has avoided going to international lenders for a full sovereign rescue.
Friday, 06 - July 2012
Spain managed to auction €3 billion ($3.8 billion) in medium-term debt Thursday, in the first such sale since EU leaders last week agreed to new measures to help financially weak countries, causing a rally in markets.
Friday, 06 - July 2012
National Bonds Corporation, the leading Shariah-compliant saving scheme in the UAE, has announced the launch of a diverse range of Islamic insurance plans starting from 50 fils a day, the company said in a statement Thursday.
