Treasury 10-year note yields fell for the sixth week in a row, matching the longest streak since June, as slowing growth and concern Europe’s debt crisis is worsening bolstered the refuge appeal of U.S. government debt.
Yields on the benchmark note dropped to the lowest level in two months as government reports showed the U.S. economy expanded less-than-forecast in the first quarter and weekly jobless claims rose. U.S. payrolls added fewer than 200,000 positions in April for a second straight month, data next week may show, adding to expectations from investors including Bill Gross that the Federal Reserve is far from pulling back on monetary stimulus.
SAMA net foreign assets reach SR2.737 trillion
The Kingdom’s M3 money supply growth edged up to 12.3 percent year-on-year in June from a five-month low of 12.1 percent in the previous month, Saudi Arabian Monetary Agency (SAMA) data showed.
Arabtec Q2 net profit up 11pc
Arabtec, the construction company at the centre of Dubai’s stock market turmoil, reported an 11 percent rise in second-quarter profit yesterday, missing analysts’ estimates.
However, due to the limited availability of stock, leasing de
Saudi water membrane facility project awarded
The Dow Chemical Company has awarded Fluor Corporation the engineering, procurement and construction (EPC) contract for its Reverse Osmosis (RO) manufacturing facility in Saudi Arabia.