Reuters reported that US employers in July 2012 hired the most workers in five months, but an increase in the jobless rate to 8.3% muddled the near-term outlook for monetary policy.
The Labor Department said that non farm payrolls rose 163,000 in July 2012, beating economists' expectations in a Reuters' poll for a 100,000 gain. That snapped three straight months of job gains below 100,000 and offered hope for the struggling economy.
However, the unemployment rate rose from 8.2% in June 2012, even as more people gave up the search for work and a survey of households showed a drop in employment.
The closely watched employment report comes two days after the Federal Reserve sent a stronger signal that a new round of major support could be on the way if the faltering recovery does not pick up.
NBAD Issues $465m convertible bonds
The National Bank of Abu Dhabi (NBAD) has issued $465m senior unsecured convertible bonds, convertible into ordinary shares of NBAD.
The offering, due in 2018, was increased from an initial
Markaz profits reach KD2.56m in Q1 2013
Kuwait Financial Centre (Markaz) announced a net profit of KD2.56m for the first quarter ending 31st March 2013, a net profit of 5 fils per share as compared with a net profit of KD2.82 during the sa
Arabtec wins $108m Saudi hospital contract
A subsidiary of Dubai-based contractor Arabtec Holding has won a SR404-million ($107.7 million) contract to build a hospital in Saudi Arabia, the company said in a statement on Saturday.
KFH-Research: Participation banks growing rapidly in Turkey
KFH-Research issued a report stating that participation banks (Islamic banks) in Turkey form 5.2% of banking assets and will reach 10% by 2018, since those banks surpass the rest of the banking secto
ADS Securities signs MoU with Asian conglomerate Tune Group
In a landmark strategic alliance, ADS Securities, the Abu Dhabi-based brokerage and financial services trading company signed a Memorandum of Understanding (MOU) with Asian conglomerate Tune Group th