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Wednesday, July 24, 2013

MENAFN Summary- Daily Business News

   
Middle East North Africa - Financial Network
 

Obama kicks off economy tour as new fiscal fight looms
US President Barack Obama hits the road this week to drum up support for his economic program as rival Republicans warn of a new showdown over the ...

India imposes new gold import curbs
India, the world's biggest gold-buying nation, has slapped fresh curbs on imports of the precious metal in a bid to curb a record current ...

Crude slides on demand worries
Brent crude oil fell below $108 per barrel on Tuesday as recent strong gains in prices fed into worries about demand growth, with the ...

Etisalat's consolidated revenues up 20% in Q2
Consolidated revenues of Emirates Telecommunications Corporation, or etisalat, grew 20 per cent in the second quarter of the year, with ...

UAE among world's top countries in consumer confidence
The UAE ranks among the world's top ten countries in consumer confidence with an index reading of 107, far surpassing the global consumer ...

Kuwait- NBK profit up 18.6%
National Bank of Kuwait, the emirate's largest lender, said Tuesday its second quarter to June net profit rose by 18.6 percent from the ...

UAE- NBAD's Q2 profit soars 15.8% on commissions, fees
The National Bank of Abu Dhabi, or NBAD, said on Tuesday that its second-quarter net profits rose 15.8 per cent to Dh1.212 billion on ...

Saudi- Sahara signs SR500m loan deal with SABB
Sahara Petrochemical Co. on Tuesday signed a long-term loan agreement with Saudi British Bank for SR500 million. The purpose of the ...

Cisco agrees to purchase Sourcefire for USD2.37b
US networking equipment firm Cisco has agreed to acquire computer network security company Sourcefire for about USD2.37 billion in cash, AP ...

Apple Inc. reports USD6.9b profit in Q3
US iPhone maker Apple Inc. reported a 22 percent decline in quarterly earnings on lower margins despite higher sales, Reuters reported. The company said ...

Japan logs June trade deficit, but exports jump
Japan logged another trade deficit in June on soaring import costs, reversing a year-earlier surplus although shipments picked up to key export ...

China manufacturing falls to 11-month low: HSBC
China's manufacturing activity contracted to a 11-month low in July, an HSBC survey showed Wednesday, the first evidence of the Asian economic giant ...

Apple tops Wall Street forecasts with hot iPhone sales
Apple beat Wall Street earnings expectations on Tuesday with help from strong sales of iPhones, boosting a share price weighed down by concerns the ...

Biden in Mumbai to boost US-India trade ties
US Vice President Joe Biden is expected Wednesday to urge India to further open its doors to foreign investment, during his visit to boost bilateral ...

Wells Fargo deposes China's ICBC as world's biggest bank
The Industrial & Commercial Bank of China has lost its standing as the world's largest bank by market capitalisation to US-based Wells ...

Elderly with diabetes 50% likelier to have disability
Older adults with diabetes are between 50 and 80 percent likelier to have a disability compared to people without the disease, according to a review ...

Swiss scientists make microchips that mimic the brain
Researchers in Switzerland say they have made microchips that imitate the way our brains process information, unlocking some of the mystery ...

UAE- Seven men 'threaten' to kill businessman, court hears
Seven men allegedly threatened to kill a businessman if he did not pay them Dh40,000 and eventually managed to extort Dh2,100 out of him, a ...

UAE- Man cleared of human trafficking
A man, who had been convicted of human trafficking in a case in which one woman was sold and forced to work as a prostitute, has had his ...

Kuwait- KD 10,000 stolen
�Police are looking for an unidentified person for breaking into the car of a bedoun who is believed to be in his 50s and stealing KD 10,000, ...

Kuwait- Couple held with drugs
Police have arrested a Kuwaiti couple for possessing and consuming drugs, reports Al-Rai daily. According to the daily the couple was arrested ...

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