Main headlines

June 11, 2013

Payments will be backdated to January and will cost the government BD105 million this year and next.
12:06 GMT

Bahrain has agreed to increase payouts to around 100,000 needy families in an attempt to end the impasse on the national budget.

Bahrain Airport
11:46 GMT

There is keen international interest in the kingdom's aviation industry, Bahrain Airport Services (BAS) has said.

Total and Qatari officials weren’t immediately available for comment.
11:46 GMT

Qatari investors have increased their stake in Total to 4.8 percent, said news website Wansquare on Monday. According to the news website, investors from Qatar have increased their participation in the past year and notably in recent weeks.

Over 70 per cent of the respondents have used online advertising to help reach new clients
11:39 GMT

Over 100 business leaders representing over 80 Qatari small and medium businesses from various sectors attended the SME Evolution Program 2013 launch event in the Four Seasons Hotel Doha.

It was last in the market in July last year, with a $1.5 billion 10-year bond which yielded 6.143pc.
11:31 GMT

Bahrain has picked four banks to arrange investor meetings ahead of a potential sovereign bond issue, a document from lead managers said yesterday, with proceeds likely to be used to plug an expected budget deficit for 2013.

The new procedure adopted by the Ministry of Haj during the upcoming month of Ramadan is based on grouping Umrah performers into two groups to ensure pilgrims do not exceed the permitted 14 days in the Kingdom
10:42 GMT

Hotels, Umrah operators and aviation firms will incur SR 5 billion in losses due to the Haj Ministry’s recent decision to limit the validity of Umrah visas to 14 days, according to the estimates of the National Committee for Haj and Umrah (NCHU).

Tadawul All-Share Index (TASI) finished with a nominal decline of 0.08 percent yesterday
10:35 GMT

Despite an upward jump (+16.5 points) after the opening bell, the Tadawul All-Share Index (TASI) finished with a nominal decline of 0.08 percent yesterday.

He said he could save a handsome amount by holding the remittance for more than two weeks.
06:13 GMT

Indian expatriates who were sending money back home had smiling faces yesterday as the struggling Indian rupee hit a record low against the US dollar.

The DFM General Index dropped 2.30 per cent to 2,344.76 amid declining turnover
06:00 GMT

Dubai: The Dubai stock benchmark tumbled to its biggest one-day drop since March 2012 as investors continued to shun risk ahead of the MSCI decision on Wednesday to upgrading the UAE into emerging market category.

Market breadth stood in favour of advancers as of the 52 securities traded for the day 26 advanced while 17 declined and 19 stocks closed unchanged
06:00 GMT

The Muscat Securities Market continued to climb on Monday with strong buying support from local investors. The benchmark index gained 1.28 per cent before closing at a 52-week high of 6,633.41.

June 10, 2013

Minister of Petroleum and Natural Resources Sherif Hadarra
12:35 GMT

An Egyptian delegation arrived in Doha yesterday to secure a natural gas deal, as Egypt continues to suffer from fuel bottlenecks leading to frequent power cuts.

The interest generated by the bid demonstrates the confidence that the local financial institutions place in supporting the local industrial sector
12:31 GMT

Qatar Petrochemical Company (QAPCO) has secured a QAR 1.1 billion facility from Barwa Bank to fund its expansion plans.

Al Noor is the second UAE healthcare company to launch an IPO and list on the LSE
12:22 GMT

Abu Dhabi healthcare firm Al Noor Hospitals plans to raise between $320 million and $390 million by offloading up to 34 percent of the company's stock through a flotation in London, it said on Monday.

Gulf Bank will jointly work with Korea Eximbank to provide financial solutions to Korean companies in Kuwait
11:38 GMT

Gulf Bank, with The Export Import Bank of Korea (Korea Eximbank), signed a Memorandum of Understanding which aims at collaboratively financing the industrial and commercial projects in the state of Kuwait.

The stock exchange's benchmark index dropped for its sixth day of declines
11:37 GMT

Egyptian three- and nine-month treasury bill yields climbed at auction on Sunday, with investors thin on the ground due to concerns over political unrest ahead of anti-government protests planned for June 30.