Mena News

 

  US GDP contracts in 1Q14
Jun , 02 , 2014  
  US GDP contracted for the first time since 1Q11 by 1.0%QoQ in 1Q14 (missing the expected 0.5%QoQ fall), after expanding 0.1%QoQ, as private inventory investment was revised down and imports revised up.
 

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  UAE tops in ad spending in 1Q14
Jun , 02 , 2014  
  According to data of the Pan Arab Research Centre (PARC), the UAE ranked first in the Arab world in terms of advertisement spending in 1Q14. Its ad spend grew 5%YoY to AED1.46bn from AED1.39bn in 1Q 13.
 

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  Fitch Ratings affirms Ras Al Khaimah at ‘A’
Jun , 02 , 2014  
  Fitch Ratings has affirmed Ras Al Khaimah’s (RAK) long-term foreign and local currency Issuer Default Rating (IDRs) at ‘A’ with stable outlooks. The short-term foreign currency IDR has also been affirmed at ‘ëF1’. The Country Ceiling has been affirmed at ‘AA’.
 

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  Gold ends lower on improved US data
Apr , 21 , 2014  
  Gold prices ended lower Thursday due to lower-than-expected US initial jobless claims and manufacturing in Philadelphia reaching a seven-month high. Prices ended down 0.1% to USD1,294 an ounce on the NYMEX. Gold futures market was closed on Friday due to Good Friday.
 

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  Growth in China’s house prices in March
Apr , 21 , 2014  
  According to the National Bureau of Statistics, house prices in China grew in 69 of the 70 cities surveyed, despite tight regulations on lending and speculation.
 

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  Kingdom Holding Company discloses 1Q14 numbers
Apr , 21 , 2014  
  Kingdom Holding Co’s net profit for 1Q14 advanced 14.8%YoY to SAR126.4mn. Gross profit for 1Q14 rose 37.8%YoY to SAR310.2mn.
 

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  Gold prices register a near three-week high due to geopolitical concerns
Apr , 15 , 2014  
  Gold prices rose Tuesday owing to geopolitical concerns related to Ukraine, after touching a three-week high. Prices were up 0.6% at USD1,326.1 an ounce on the NYMEX.
 

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  US retail sales rise in March, higher than expected
Apr , 15 , 2014  
  According to the Commerce Department, retail sales rose 1.1% in March from a revised 0.7% rise in February, higher than economists’ forecast of 0.9%.
 

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  Dar Al Arkan repays sukuk
Apr , 15 , 2014  
  Dar Al Arkan successfully repaid its remaining SAR100mn local Islamic sukuk from its excess cash.
 

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  Gold declines as investment interest drops
Apr , 08 , 2014  
  Gold prices declined Monday due to a decline in investment interest and profit booking following Friday’s short-covering rally. Prices decreased 0.5% to USD1,296 an ounce on the NYMEX.
 

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