Conscious / News of the Arab Economic and global / economic report
24/8/2009 24/8/2009 9:23am 9:23 am
Manama / Bahrain's Gulf Air said it had renegotiated aircraft orders with Airbus and Boeing to cancel flight routes by the weak performance and cost jobs after putting the final touches on plans for restructuring. The company faced difficulties and wholly owned subsidiary of Bahrain's sovereign wealth fund property that it welcomes the idea of integration with other airlines, but is not in talks at the moment. Samer Majali told the new chief executive of the tanker, said the company would "respect the terms of the contract" with the manufacturers, but may hold negotiations to modify the numbers and sizes of aircraft.
Dubai / Gulf stock markets rebounded on Sunday to support the global stock gains and the rise of oil prices to the highest level in ten months, which sparked a rally on the level of the region's markets. Qatar's market posted its biggest gains in four weeks and Dubai index rose 2.5 percent, recouping some of the losses this last week while Kuwait rose for the first time in five sessions. The Muscat stock market touched its highest level in nine months, and recorded gains of Abu Dhabi and Bahrain. On the other hand Saudi Arabia's stock market fell, the indicators of other markets closed near their highest levels for transactions on Sunday, suggests further gains on Monday if the Asian markets started the trading week in positive terms.
Abu Dhabi / Said Emirates Aluminum (Emal) said it had been able to measure natural gas supplies for its own power plant contract with the Abu Dhabi Gas Industries (GASCO). According to media sources Pipeline linking the power station will provide Emal company GASCO a continuous supply of natural gas can be relied upon. And Emal joint venture between Mubadala Development Company owned by the Government of Abu Dhabi and Dubai Aluminum Company (Dubal).
The gas will supply the station long which is located near Abu Dhabi. The Emal is establishing an aluminum smelter with a capacity of 700 thousand tons annually and a power station capacity thousand megawatts. The GASCO which the government owns a majority stake in tackling the natural gas and associated gas with the extraction of oil from the fields of land in Abu Dhabi.
Oman / Bankers said that Jordan put treasury bonds, three-year deal worth 100 million dinars (141 million dollars). The Central Bank of Jordan on behalf of government bonds at an auction on the banks and investment funds and retirement will be a settlement on Monday. The bonds mature through the banks to open local and foreign investors in the August 24, 2012.
Kuwait / Ahli United Bank said it had received preliminary approvals to increase its stake in two banks in Egypt and Iraq.
Bahrain, the bank said in a statement on the Kuwait bourse website it had received approval to increase its stake in Hdte Ahli United Bank in Egypt and the Commercial Bank of Iraq. The statement said that National Bank can increase its stake unity in Egypt from 35.3 percent to about 90 percent after obtaining the approval of the Central Bank of Egypt.
The bank also received the approval of the Iraqi Central Bank to raise its stake 49 percent stake in Commercial Bank of Iraq to 75 percent by buying shares in the Iraqi Stock Exchange.
Riyadh / An industry source said that the oil refinery, Saudi Aramco and Shell plan to close Mcefathma involved in Jubail for a period of one week in March 2011. The source said "the entire refinery will shut down in March 2011 for a period of seven days." He added that he will be shut down in 2010 thermal units of gas and cracking unit and the unity of sulfur. He said that the sulfur recovery unit to also be closed for maintenance work in October for approximately three weeks. The refinery can the amount of capacity 305 thousand barrels per day export up to 60 thousand tons of oil products per day, mostly of fuel oil (diesel), naphtha and gas oil (diesel) and jet fuel.
On the other hand According to data released by the Department of Statistics and Information Saudi Arabia eased price of steel used in construction, 55 percent over a year until the end of June, but the price rose by nearly nine percent since early 2009. According to figures published by the location of interest on the Internet cement prices fell seven percent by end of July compared to year ago levels and recorded a decrease of 1.9 percent from its level at the end of 2008. He made the data published for the first time a government body in the kingdom after taking steps earlier this year involving the termination of unconditional ban on exports of steel and cement, which lasted for almost a year after the increase in construction costs to record levels last year.
Abu Dhabi / Abu Dhabi Islamic Bank said it had appointed Zafar Farouk Luqman president of strategy and product management and international banking services for individuals. A statement issued by the bank to that Luqman has 19 years experience gained mainly through his work at HSBC. S. Me. C and Dubai Islamic Bank. The statement said Lukman, will be responsible for planning and guidance to all strategies for business development and expansion in new markets.
London / survey showed business conducted by the Institute of Chartered Accountants in England and Wales, it is likely that Britain out of recession and Tsgela growth of 0.5 percent in the third quarter of this year. The index of business confidence for the Institute's largest-ever increase and move in a positive direction for the first time in two years. Michael & Lisa CEO of the Institute predicted an increase of half a percent of GDP after five quarters of decline, "index of business confidence in the current quarter indicates that the recession in the United Kingdom came to an end." The British economy shrank significantly higher than the 0.8 percent which was expected in the second quarter of the year, but Finance Minister Alistair Darling said last week that the economy is on track to return to growth by the end of the year.
Abuja / Said a police unit combating corruption in Nigeria, it hopes to decide this week on whether charges would be pressed criminal charges against 19 of the banking officials in the wake of a government bailout of the five financial institutions. And the separation of Central Bank of Nigeria those responsible for the Evripennek and Vinpennek and Intercontinental Bank and Aohenk Bank and Union Bank last week was injected $ 2.6 billion in those institutions. I was detained for the Commission on Economic and Financial Crimes 14 senior bank executives in Lagos, Nigeria's commercial capital and seeking the arrest of five others.
24/8/2009 24/8/2009 9:23am 9:23 am
Manama / Bahrain's Gulf Air said it had renegotiated aircraft orders with Airbus and Boeing to cancel flight routes by the weak performance and cost jobs after putting the final touches on plans for restructuring. The company faced difficulties and wholly owned subsidiary of Bahrain's sovereign wealth fund property that it welcomes the idea of integration with other airlines, but is not in talks at the moment. Samer Majali told the new chief executive of the tanker, said the company would "respect the terms of the contract" with the manufacturers, but may hold negotiations to modify the numbers and sizes of aircraft.
Dubai / Gulf stock markets rebounded on Sunday to support the global stock gains and the rise of oil prices to the highest level in ten months, which sparked a rally on the level of the region's markets. Qatar's market posted its biggest gains in four weeks and Dubai index rose 2.5 percent, recouping some of the losses this last week while Kuwait rose for the first time in five sessions. The Muscat stock market touched its highest level in nine months, and recorded gains of Abu Dhabi and Bahrain. On the other hand Saudi Arabia's stock market fell, the indicators of other markets closed near their highest levels for transactions on Sunday, suggests further gains on Monday if the Asian markets started the trading week in positive terms.
Abu Dhabi / Said Emirates Aluminum (Emal) said it had been able to measure natural gas supplies for its own power plant contract with the Abu Dhabi Gas Industries (GASCO). According to media sources Pipeline linking the power station will provide Emal company GASCO a continuous supply of natural gas can be relied upon. And Emal joint venture between Mubadala Development Company owned by the Government of Abu Dhabi and Dubai Aluminum Company (Dubal).
The gas will supply the station long which is located near Abu Dhabi. The Emal is establishing an aluminum smelter with a capacity of 700 thousand tons annually and a power station capacity thousand megawatts. The GASCO which the government owns a majority stake in tackling the natural gas and associated gas with the extraction of oil from the fields of land in Abu Dhabi.
Oman / Bankers said that Jordan put treasury bonds, three-year deal worth 100 million dinars (141 million dollars). The Central Bank of Jordan on behalf of government bonds at an auction on the banks and investment funds and retirement will be a settlement on Monday. The bonds mature through the banks to open local and foreign investors in the August 24, 2012.
Kuwait / Ahli United Bank said it had received preliminary approvals to increase its stake in two banks in Egypt and Iraq.
Bahrain, the bank said in a statement on the Kuwait bourse website it had received approval to increase its stake in Hdte Ahli United Bank in Egypt and the Commercial Bank of Iraq. The statement said that National Bank can increase its stake unity in Egypt from 35.3 percent to about 90 percent after obtaining the approval of the Central Bank of Egypt.
The bank also received the approval of the Iraqi Central Bank to raise its stake 49 percent stake in Commercial Bank of Iraq to 75 percent by buying shares in the Iraqi Stock Exchange.
Riyadh / An industry source said that the oil refinery, Saudi Aramco and Shell plan to close Mcefathma involved in Jubail for a period of one week in March 2011. The source said "the entire refinery will shut down in March 2011 for a period of seven days." He added that he will be shut down in 2010 thermal units of gas and cracking unit and the unity of sulfur. He said that the sulfur recovery unit to also be closed for maintenance work in October for approximately three weeks. The refinery can the amount of capacity 305 thousand barrels per day export up to 60 thousand tons of oil products per day, mostly of fuel oil (diesel), naphtha and gas oil (diesel) and jet fuel.
On the other hand According to data released by the Department of Statistics and Information Saudi Arabia eased price of steel used in construction, 55 percent over a year until the end of June, but the price rose by nearly nine percent since early 2009. According to figures published by the location of interest on the Internet cement prices fell seven percent by end of July compared to year ago levels and recorded a decrease of 1.9 percent from its level at the end of 2008. He made the data published for the first time a government body in the kingdom after taking steps earlier this year involving the termination of unconditional ban on exports of steel and cement, which lasted for almost a year after the increase in construction costs to record levels last year.
Abu Dhabi / Abu Dhabi Islamic Bank said it had appointed Zafar Farouk Luqman president of strategy and product management and international banking services for individuals. A statement issued by the bank to that Luqman has 19 years experience gained mainly through his work at HSBC. S. Me. C and Dubai Islamic Bank. The statement said Lukman, will be responsible for planning and guidance to all strategies for business development and expansion in new markets.
London / survey showed business conducted by the Institute of Chartered Accountants in England and Wales, it is likely that Britain out of recession and Tsgela growth of 0.5 percent in the third quarter of this year. The index of business confidence for the Institute's largest-ever increase and move in a positive direction for the first time in two years. Michael & Lisa CEO of the Institute predicted an increase of half a percent of GDP after five quarters of decline, "index of business confidence in the current quarter indicates that the recession in the United Kingdom came to an end." The British economy shrank significantly higher than the 0.8 percent which was expected in the second quarter of the year, but Finance Minister Alistair Darling said last week that the economy is on track to return to growth by the end of the year.
Abuja / Said a police unit combating corruption in Nigeria, it hopes to decide this week on whether charges would be pressed criminal charges against 19 of the banking officials in the wake of a government bailout of the five financial institutions. And the separation of Central Bank of Nigeria those responsible for the Evripennek and Vinpennek and Intercontinental Bank and Aohenk Bank and Union Bank last week was injected $ 2.6 billion in those institutions. I was detained for the Commission on Economic and Financial Crimes 14 senior bank executives in Lagos, Nigeria's commercial capital and seeking the arrest of five others.