| AME Info News - Finance and Economy |
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AME Info News - Finance and Economy
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Iran paying for grain with gold and oil - traders
Sat, 11 Feb 2012 13:28:33 +0400
European wheat exporters have said Iran is seeking to close grain purchases using gold and oil as payment, and has paid in yen for a large volume of wheat in its first deal since Western sanctions against Tehran started choking imports of food staples, Reuters has reported. Iran bought at least 200,000 tonnes of soft wheat on the world market last week for prompt delivery from private sellers - mostly of Australian origin - but some traders said the US could possibly account for part of the volume. The sanctions have drastically cut Iran's ability to obtain euro and dollar denominated financing, forcing Tehran to find alternative ways to pay for its imports. [AMEInfo.com]
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Gulf Petroleum Investment leads Kuwait market rebound
Thu, 09 Feb 2012 16:40:32 +0400
The Kuwait Stock Exchange (KSE) Market Index advanced the second day straight, closing a quarter per cent higher at 5,684 points. Shares of Gulf Petroleum Investment gained the most (up 9.5%). Islamic bank Kuwait Finance House declined slightly to KD0.850. [AMEInfo.com]
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Damas Jewellery edges higher, hires Nomura for takeover advisory
Thu, 09 Feb 2012 16:28:21 +0400
The FTSE NASDAQ Dubai UAE 20 Index closed at 1530.910 today, off 0.10% from the previous close. Market bellwether DP World fell 0.90% to $11.00. Shares of jewelry retailer Damas International jumped 2.78% to reach $0.37. Earlier in the day, local media news reported that Damas hired Japanese bank Nomura to advise it on a takeover offer from Qatar's Mannai Corporation. Mannai, a mulit-product conglomerate with interests in the oil and gas, tourism, automotives and transport segments, said in January it received assurance from Damas shareholder to buy 58.8% of Damas at $0.45 cents per share. [AMEInfo.com]
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Qatar National Bank gains as lender eyes Euro Medium Term Note Program
Thu, 09 Feb 2012 16:19:21 +0400
The QE 20 Index ended even for the second day straight. Qatar's largest lender by assets Qatar National Bank or QNB closed 0.60% higher at QR136.70. Earlier in the day, QNB announced that Barclays Capital, Citigroup, HSBC, QNB Capital and Standard Chartered Bank will be arranging fixed income investor meetings on behalf of QNB Group in London commencing on February 13. A USD benchmark RegS offering under its Euro Medium Term Note Program may follow subject to market conditions. [AMEInfo.com]
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Aldar Properties shares flirt with one Dirham-level
Thu, 09 Feb 2012 15:42:51 +0400
In Abu Dhabi, the equity gauge ADX General Index added 0.10% to reach 2,466.74 points. Real estate bellwether Aldar Properties advanced 3.20% to close at Dhs0.97. Sorouh Real Estate also gained over three per cent. Most banks edged lower, such as the sheikhdom's largest lender National Bank of Abu Dhabi (off 0.46%) or RAK Bank (down 2.44%). Earlier in the day, Switzerland's second lender Credit Suisse reported a 62%-drop in net profits for 2011, amounting Chf1.95bn (Dhs7.85bn), mainly due to a slump in the investment banking. Some 80m shares were traded, valued at Dhs93m. SOme [AMEInfo.com]
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