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Tuesday, January 8, 2013

MENAFN Summary- Daily Business News

   
Middle East North Africa - Financial Network
 

US Schnitzer Steel reports USD2m loss in Q1
Oregon-based steelmaker Schnitzer Steel reported a quarterly loss on restructuring costs and weaker demand, AP reported. The company said it incurred ...

Qatar provides additional USD2.5b aid for Egypt
Qatar's Prime Minister, Sheikh Hamad bin Jassim al-Thani, stated that his country has granted Egypt an initial package of USD2.5 billion, reported Arabian ...

Oil exec warns taxes could sink US energy rebirth
A top US oil industry figure warned Tuesday that the country's energy renaissance could be threatened by "punitive" tax policies on oil and gas ...

Apple tailoring cheaper iPhone model: reports
Reports echoing online Tuesday fueled speculation that Apple is tailoring a low-price version of the iPhone for China and other emerging ...

Bank of England to sit tight at year's first meeting
The Bank of England is expected to keep its key interest rate at a record-low 0.50 percent on Thursday and decide against pumping out more new cash ...

Ireland confident of reaching debt deal
The Irish government said it was confident of reaching an agreement with its creditors to reduce the mammoth debt burden incurred during its rescue ...

BMW ME 2012 sales jump 14%
BMW Group Middle East managing director, Dr Joerg Breuer, stated that the company's sales of both BMW and MINI vehicles in the region climbed by 14 percent ...

Emirates mulls buying extra 30 A380s
Emirates president, Tim Clark, stated that the carrier, which already has 90 A380s, mulls acquiring additional 30 planes of the model, reported Arabian ...

Tax officials inspect Nokia factory in India
Finnish phone giant Nokia said Tuesday Indian tax authorities had visited a manufacturing unit in the southern Indian city of Chennai, without giving ...

TVs get bigger, bolder, smarter at CES show
TV makers showing off their new wares at a huge trade fair will seek to dazzle consumers with bigger, bolder displays, and smarter technologies for ...

As Pentagon boss, Hagel likely to favor sizable Afghan drawdown
.A Decorated Vietnam veteran acutely aware of the limits of military power, Chuck Hagel is likely to favor a sizable drawdown in Afghanistan, ...

Obama shows combativeness in second term but risks await
.Just two weeks before his second inauguration, President Barack Obama is acting as if he believes he has a big mandate for his next term. The ...

UN can't feed 1 million Syrian refugees
The World Food Program said on Tuesday it is unable to help an estimated 1 million Syrians who are going hungry, blaming a lack of security in ...

Egypt scraps anti-dumping fees
.Egypt has lifted anti-dumping fees on Saudi polypropylene imports after the country found the measure was against public interest, Prince ...

Saudi Consumers slam 'random price hike'
.Consumers are complaining that food prices are at an all-time record high and have blamed merchants for causing these increases without any ...

Saudi- Car owner's road behavior to determine insurance premium
Saudi vehicle insurance companies intend to create a record of accidents involving each motorist in the Kingdom to determine fitting insurance ...

Saudi- King Abdullah Medical Complex ready
The medical complex that is being built in the north of Jeddah will be named King Abdullah Medical Complex in Jeddah, Health Minister Dr. ...

Saudi- New-look Shoura to have 15 women
Saudis are eagerly looking forward to the appointment of women on the 150-member Shoura Council with great hope and believe the move would ...

In India's villages, Delhi rape spurs restrictions
While the gang-rape of a student in New Delhi has prompted women in cities to assert their rights to freedom and safety, in India's male-dominated ...

The challenge of Googling North Korea
What is one of the world's most prominent advocates of Internet freedom doing in a country where unregulated access to information is generally ...

Kuwaiti youth strips naked in front of Kuwaiti woman
A 20-year-old Kuwaiti citizen was arrested recently for breaking into a female neighbor's house and stripping naked in front of her in ...

Binge drinking serious problem for US women: study
Binge drinking is an under-recognized problem for US women, nearly 14 million of whom engage in it about three times a month, downing about six ...

Chavez is sick, but Chavez merchandising is not
Hugo Chavez is so sick with cancer that he won't show up for his own inauguration for a new term this week. But the cottage industry that lives off ...

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