U.S. stocks retreated this week, with the Standard & Poor’s 500 Index having its biggest decline since December, amid weaker-than-estimated housing data and reports showing manufacturing contracted in Europe and China.
Stocks rose on March 23 as a jump in oil prices lifted energy shares. The rally failed to help the industry avoid posting the worst performance for the week among the S&P 500’s 10 groups, falling 3 percent as Baker Hughes Inc. (BHI) slumped 11 percent. The Dow Jones Transportation Average lost 2.5 percent, the most since Nov. 25, as FedEx Corp. tumbled amid a disappointing earnings forecast. Apple Inc. (AAPL) advanced 1.8 percent after announcing its first dividend in 17 years.
Indian group wins Saudi chemical plant contract
Addar Chemicals Company, a leading conglomerate in Saudi Arabia, has awarded a $35-million engineering, procurement and construction (EPC) contract to Indian group Nuberg Engineering for a chemical p
CBQ ratings affirmed by Capital Intelligence
Capital Intelligence (CI), has affirmed Commercial Bank of Qatar's (CBQ) Financial Strength Rating (FSR) at 'A-'. The FSR is supported by the Bank's diversified franchise, a good level of non-interes