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Thursday, October 31, 2013

MENAFN Summary- Daily Business News

   
Middle East North Africa - Financial Network
 

Fed maintains stimulus, says govt policy hits growth
The US Federal Reserve kept its stimulus program in place as expected Wednesday, but reiterated the government's fiscal policy is a drag on the ...

German banks concerned about ECB review
The German banking federation BdB called Wednesday for rapid clarification of the legal issues relating to a comprehensive review of 124 eurozone ...

Brazilian oil giant OGX files for bankruptcy
Brazilian tycoon Eike Batista's OGX oil firm on Wednesday filed for bankruptcy protection to avert default after debt-restructuring talks with ...

Saudi - 20 officials charged with graft
The Administrative Court in Jeddah has charged 20 municipal officials with fraud and bribery involving SR5 million. The court also charged six ...

Saudi - SR3 billion worth of power wasted
Poor energy management by various government agencies has resulted in power wastage amounting to SR3 billion. According to a report published ...

Saudi - Haj gold sales down by 35 to 50 percent
old dealers here have claimed that sales of the precious metal dropped by between 35 and 50 percent during the Haj period. They said this was ...

Saudi - Fawaz Al-Hokair Group increases 9-month net profits to SR447.2m
Fawaz Al-Hokair Group Company achieved net profits of SR447.2 million during the first nine months of 2013, or an increase of 19.81 percent ...

Saudi - GIB's 9-month net profit up 4.6% to $101.5m
The Gulf International Bank posted a net profit of $101.5 million in the last nine months of the current year, an ...

Infosys pays USD34 million civil settlement with US
India"s second-largest IT services exporter Infosys Ltd, will pay USD34 million in a in a civil settlement with US authorities investigating its use of ...

General Motors profit higher than expected
Profits of General Motors Co. exceeded expectations in the last three months to the end of September after the launch of a new lineup of pickup trucks and ...

Tourists invited to live like Gandhi in his ashram
Tourists searching for peace and simplicity can for the first time check in to Mahatma Gandhi's most famous ashram in India. But don't expect modern ...

Suncor, Total and Teck to invest $13.5 bn in oil sands
Suncor Energy said it would invest some $13.5 billion in an oil sands project in Canada along with joint venture co-owners Total E&P Canada Ltd. ...

Shell company owners to be publicised in tax clampdown
British Prime Minister David Cameron was on Thursday to announce that a list of the owners of shell companies often used as a shield against tax will ...

Spanish appliance maker Fagor moves closer to bankruptcy
Major Spanish electrical appliance maker Fagor, which employs 5,700 people worldwide, moved closer to bankruptcy Wednesday after its parent company, ...

'Early medication for HIV is cost-effective'
Treating people with HIV soon after they become infected is cost-effective over the long term, according to a study out Wednesday that focused on ...

Facebook profit up but teens could be losing interest
Facebook shares spiked on Wednesday with stellar earnings results, but plummeted back down on word teenagers may be falling out of love with the ...

Parenting classes take France by storm
Classes teaching how to be better moms and dads, which have long flourished in English-speaking countries, have begun taking France by storm.French ...

Controversial bid to turn Venice 'rubbish island' into fun park
A top maker of amusement park rides unveiled a controversial project Wednesday to transform a "rubbish island" in Venice into a cultural attraction, ...

'Don't touch my whore!' manifesto enrages France
A petition against the abolition of prostitution has created an uproar in France, fuelling an already intense debate on buying and selling sex."We ...

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