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Tuesday, February 5, 2013

MENAFN Summary- Daily Business News

   
Middle East North Africa - Financial Network
 

USA- Justice Department says SP defrauded investors with faulty grading
> U.S. Attorney General Eric Holder and other Justice Department officials on Tuesday alleged major financial rating firm ...

Emirates, Formula 1 in five year deal
> Emirates, the Formula One group have announced a five year agreement appointing Emirates as a Global Partner of Formula 1 ...

Greece's economy expected to shrink 23% in 2013 from 2008
The Austrian Institute of Economic Research stated that Greece's economy is forecasted to decline by 23 percent this year, from a record high in ...

Obama unveils plans to avert budget cuts
US President Barack Obama Tuesday called for a balanced program of stop gap spending reductions and tax reforms to avert punishing multi-billion ...

Dubai e-Pay collects Dh 4.3 bn in 2012
> The e-Pay portal of Dubai Government has registered brisk transactions collecting Dh4.3 billion through ...

Kuwait- 10-year jail for Tweeter upheld
The Court of Cassation upheld the verdict of a court that sentenced Tweeter Laurence Al-Rashidi to 10 years imprisonment with hard labor and ...

Pakistan: Battling to feed hungry mouths
AMONG other goals, the United Nation's Millennium Development Goals set ambitious targets for the international community to halve the ...

Saudi- Housing Ministry plans to build 200,000 affordable housing units
The Ministry of Housing plans to implement a program that will result in the construction of 200,000 housing units. The ministry said that ...

With Dow breaking 14,000, what should you do?
Whenever the stock market breaches an old high - like when the Dow closed over 14,000 on Friday, the best mark since October, 2007 - it is time ...

RBS investment banking chief to quit over Libor
The head of the Royal Bank of Scotland's investment banking arm is to step down over the Libor rate-rigging scandal, British media reported on ...

IMF steps up engagement with Myanmar
The International Monetary Fund said Tuesday it is stepping up its policy assistance to Myanmar as the once-pariah nation undertakes economic and ...

Petrobras CEO warns of 'difficult' 2013
The chief executive of Brazil's state-run oil giant Petrobras, Maria das Gracas Foster, warned Tuesday that the company faces erratic output this ...

Saudi- Egg prices go up 30 percent as cold weather spurs demand
The wholesale price of eggs has risen by 30 percent, with further increases likely as temperatures continue to fall, according to traders. ...

Egypt: Iranian ties not at cost of undermining Gulf security
Egypt moved on Tuesday to reassure its Gulf allies that any improvement in Cairo's ties with Tehran will not be at the expense of undermining ...

Violence, hardship follow women and children beyond Syria borders
AS if the war which drove them out of Syria and the hardships of exile were not enough, refugee women and children in Lebanon are facing ...

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