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Monday, October 15, 2012

MENAFN Summary- Daily Business News

   
Middle East North Africa - Financial Network
 

UK's economy to expand 1.2% in 2013: E&Y
Ernst and Young Item Club's latest report revealed that next year, UK's economy is expected to return to a growth of 1.2 percent, reported Xinhua ...

Saudization gets boost as Nitaqat covers SMEs
Labor Minister Adel Fakeih yesterday announced his ministry's decision to include small enterprises with nine or less workers in the Nitaqat ...

Saudi- Aramco to invest $ 35 bn in oil projects over 5 years
Saudi Aramco plans to invest $ 35 billion over the next five years in projects to protect an oil production capacity cushion which the world ...

IMF must stay the course and avoid lurches to austerity
If the global economy was in trouble before the annual World Bank and IMF meetings in Tokyo, it is hard to believe that it is now smooth ...

Debt crisis dominates finance talks
Senior finance officials from Asia and Europe met yesterday for talks on the global economy in the face of growing nervousness about the ...

US lubricant maker WD-40 reports USD9m profit in Q4
US lubricants maker WD-40 Co. reported a 11.9 percent decline in quarterly profits on weaker sales in Europe, Reuters reported. The company, which makes ...

Kuwait bourse gains 14.28 pts after wobbly start
Kuwait stocks pulled higher Monday, extending the gains from the previous session. The index, after a wobbly start, closed 14.28 points ...

US retail sales up 1.1% in September
The US Commerce Department reported 1.1 percent increase in retail sales during September, giving hope that third-quarter economic activity may improve, ...

Saudi- Pipeline breakdown cuts water supply to half
The main pipeline that supplies seawater for cooling systems and power units of Jubail desalination plant phase II has been broken, cutting ...

Saudi- Ration card system to combat price hikes
The government is making arrangements to implement a ration card system that includes all government-subsidized basic goods. This was reported ...

Japan's Panasonic secures USD7.6b credit line from banks
Japanese electronics maker Panasonic Corp has secured USD7.6 billion of loan commitments from local banks and financial institutions, Reuters ...

Cybercrime costs Saudi Arabia SR 2.6 bn a year
Consumer cybercrime has cost the Kingdom SR 2.6 billion in the past 12 months, according to a report released by Symantec yesterday. Symantec ...

Saudi- Education alone can't land youth jobs
Academic education is available in both the government and private sectors. However, education alone is not enough to create job opportunities, ...

Saudi- Taazir death verdicts must be unanimous
The Shoura Council has made a major decision toward reducing instances of capital punishment in the Kingdom by stipulating that a death ...

Cartoonist Raslan arrested in Syria
The Syrian authorities have arrested cartoonist Akram Raslan of government-owned Al-Fida newspaper after he published cartoons underlining the ...

Israeli election seen as referendum to attack Iran
THE Israeli government has called a general election for Jan. 22, and polls suggest Benjamin Netanyahu's rightist-religious coalition is likely ...

American elections and the Middle East
US elections are manifestly linked to the Middle East, at least rhetorically. In practical terms, however, US foreign policies in the region ...

Promises, promises, but can Mursi deliver?
IF this were a dictatorship it would be a heck of a lot easier"as long as I'm the dictator," said President Muhammad Mursi. Actually, ...

Kuwait- Youth flees after stabbing 2 sisters in domestic row
A youth stabbed two of his sisters in the head and chest respectively due to a domestic quarrel. Security sources said the injured girls ...

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