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Salam International announes 3rd Q 2014 (Qatar Exchange - 22/10/2014)

Salam International disclosed the interim financial statements for the period ending September 30, 2014. The interim financial statements revealed a net profit of QR 67.2 million for the nine months period ended September 30, 2014 in comparison to a net

Australia Inflation Adds 2.3% On Year In Q3 (RTT News - 22/10/2014)

Consumer prices in Australia advanced 2.3 percent on year in the third quarter of 2014, the Australian Bureau of Statistics said on Wednesday. That was in line with expectations and down from 3.0 percent in the second quarter. Among the individual

China's third-quarter growth touches 5-year low (Business Times - 22/10/2014)

CHINA'S third-quarter economic growth ground to its slowest pace in five years as the country continues to struggle with a downturn in the property sector, overcapacity and weak export demand. Analysts, however, remained cautiously upbeat as they had

Dollar/Saudi riyal forwards jump as spot market pressured (Business Recorder - 22/10/2014)

DUBAI: The Saudi riyal fell sharply against the U.S. dollar in the forwards market on Tuesday to its lowest level since March 2011, when the Arab Spring uprisings briefly shook confidence in the political and economic stability of the Gulf. Traders said

WTI Holds Above $82 as Fuel Supply Seen Falling; Brent Steady (Bloomberg - 22/10/2014)

West Texas Intermediate crude held above $82 a barrel before a report that may show motor-fuel inventories shrank to a two-year low in the U.S., the biggest oil consumer. Brent was steady in London. December futures were little changed in New York after

Copper Holds Gains Near One-Week High Before China PMI (Bloomberg - 22/10/2014)

Zinc rebounded from the lowest in more than three months before a report projected to show sustained manufacturing expansion in China, the biggest consumer of industrial metals. The metal rose as much as 0.6 percent in London, gaining for the first time

Senior U.S. Treasury official to visit Japan, meet BOJ governor (Reuters - 22/10/2014)

(Reuters) - U.S. Under Secretary for International Affairs Nathan Sheets will visit Japan this week to discuss policies to boost global demand with senior government officials, including the Bank of Japan governor, the U.S. Treasury Department said. The

Japan exports rebound, but economy still not out of woods (Reuters - 22/10/2014)

(Reuters) - Japan's exports rose at the fastest pace in seven months in September as sales to Asia picked up pace, but signs of slowing global growth may hurt the trade sector's ability to recharge the world's third-biggest economy and keep pressure for

3 big IPOs in pipeline as Saudi market booms (Saudi Gazette - 22/10/2014)

Investment bank Saudi Fransi Capital has three big initial public offers of shares in the pipeline as the Saudi Arabian equity market booms and firms become keener to list, the company's chief executive said. The Kingdom's $550 billion stock market, by

Kingdom initiates moves to promote investment in Qassim (Arab News - 22/10/2014)

Saudi Arabia is working to stimulate and encourage investment in the Qassim Region, which will be connected by a regional railway network to be built at a cost of SR12 billion. This will be part of the north-south railway line, which is estimated to

Energy sector to play key role in economic transformation (Oman Daily Observer - 22/10/2014)

Oman’s energy sector needs to build on its pioneering role in enhanced oil recovery (EOR) and tight gas developments in the Middle East to drive the Sultanate’s ongoing transformation into a diversified knowledge economy, Oman Oil Company’s top

Real estate price index at all-time high (The Peninsula - 22/10/2014)

Qatar’s real estate price index hit an all-time high, surging a record 42 percent this September, compared to the same month last year. Qatar Central Bank’s (QCB) quarterly update of the index touched record 253.8 points in the month, rising much higher

GCC railway network project on track (Saudi Gazette - 22/10/2014)

TE, a leading global provider of telecommunications equipment and network solutions particularly in the rail transport industry, expressed optimism on the GCC rail network project that is under way, saying that it is moving in the right direction. A

Shoura demands independent monitoring of Aramco’s sales (Arab News - 22/10/2014)

During the Shoura Council’s session on Monday, members of the council accused those in charge of the “Hadaf” program under the Ministry of Labor of wasting millions of riyals on systematic errors in Saudi Aramco’s sales saying that these errors had been

Budget preparations still on, oil prices for 2015 not fixed (Oman Daily Observer - 22/10/2014)

Oman has gone through the phase of falling oil prices earlier and current trend is not a matter of serious concern at the moment, said Nasser bin Khamis al Jashmi, UnderSecretary, Ministry of Finance (pictured), on the sidelines of the Oman Energy Forum

Kuwait’s Agility hopes for revenue rebound (Arab News - 22/10/2014)

Revenue at Kuwait-listed logistics company Agility is expected to resume growing next year as emerging markets business expands and the company develops new sectors, Chief Executive Tarek Sultan said. With more than 20,000 employees and over 500 offices

Oman Oil in talks with Oxy to buy assets (Arab News - 22/10/2014)

Oman Oil Co. is in talks with Occidental Petroleum Corp. to buy its assets in the Gulf Arab sultanate but is still waiting to know the specifics of the potential sale from the US company, the Omani firm’s chief executive said on Tuesday. “We are now in

audi riyal falls against US dollar (Reuters - 22/10/2014)

The Saudi riyal fell sharply against the US dollar in the forwards market on Tuesday because of a surge of demand for dollars in the spot foreign exchange market, where the Saudi riyal is pegged to the US currency, traders said. One-year dollar/Saudi

Abraaj close to buying controlling stake in Kudu (Reuters - 22/10/2014)

Private equity firm Abraaj Group hopes to conclude a deal soon to buy a majority stake in Saudi fast-food chain Kudu alongside TPG Capital, a senior Abraaj executive told Reuters. The Middle East’s largest private equity firm has been in exclusive talks

Global Investment House cuts capital to nullify loss (Reuters - 22/10/2014)

Shareholders of Kuwait’s Global Investment House have approved the write-off of 94.7 million dinars ($327.9 million) of the company’s losses through a capital reduction, the investment firm said in a statement on Tuesday. The move, agreed at an

Alwaleed holds talks with Citigroup CEO in Riyadh (Saudi Gazette - 22/10/2014)

Prince Alwaleed Bin Talal, Chairman of Kingdom Holding Company (KHC) met with Mike Corbat, CEO of Citigroup, at his office in Riyadh. Corbat delegation included Alberto Verme, Chairman EMEA Banking and Carmen Haddad, Managing Director, Corporate Finance

NCB readies plan to divest $38b (Saudi Gazette - 22/10/2014)

National Commercial Bank, (NCB) the Saudi Arabian lender planning an initial public offering, probably needs to divest about $38 billion of assets to meet a goal of becoming fully Shariah-compliant in five years. About two-thirds of the bank’s SR435

Bank Muscat committed to customer service excellence (Oman Daily Observer - 22/10/2014)

Bank Muscat, the flagship financial services provider in the Sultanate, hosted Shep Hyken, renowned expert and motivational speaker on customer service excellence, to conduct a customised seminar entitled “Amazement revolution towards our customers”

Oman Arab Bank honours female staff (Oman Daily Observer - 22/10/2014)

Under the patronage of Muna bint Mahfudh al Manthari; Adviser to Regulatory Authority for TV and Radio, Oman Arab Bank celebrated Omani Women’s Day at the Bank’s Main Office in Al Ghubrah. The celebration was attended by Amin al Husseini, CEO and a

NBO launches TQM training programme (Oman Daily Observer - 22/10/2014)

In line with its continued efforts for improving customer service standards and developing Omani people and other staff in line with the best practices, National Bank of Oman — NBO in partnership with horizons HRD has launched a specialised training

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