PepsiCo to Invest $100 Million in Egypt in 2010
NEW YORK, (Reuters) - U.S. soft drinks and snacks maker PepsiCo Inc plans to invest $100 million in Egypt next year, a senior company official said in a speech on Thursday.
The company's vice president for global public policy and government affairs, ... more |
Saudi Cenbank says Abandoning Dollar a "Non-Starter"
FRANKFURT, (Reuters) - Pegging a planned new Gulf currency to a basket of currencies is one option on the table although there is no perfect solution, Saudi Arabia's top monetary official, Muhammad al-Jasser, said on Thursday.
On Tuesday, Kuwait ... more |
GE Unit Nears Islamic Bond Sale - Bankers
DUBAI, (Reuters) - A unit of General Electric is expected to close the order books on Thursday on a 5-year fixed-rate dollar denominated sukuk, or Islamic bond, as the U.S. conglomerate looks to diversify its investor base, bankers said.
Unofficial ... more |
Qatar Oil Minister: No Output Quota Changes at OPEC Meet
TOKYO (Reuters) - Qatar Oil Minister Abdullah al-Attiyah said on Thursday he did not expect OPEC to make any changes in its production output quotas when the group meets next in December.
When asked if there would be any output changes at the December ... more |
New Qatar Tax Law for Corporates Not Individuals
DUBAI, (Reuters) - Qatar's new income tax law would apply to revenues of corporations and not that of individuals, a government official said on Tuesday, clarifying a report on the official news agency.
The official Qatar News Agency said earlier ... more |
Iraq Wants Total to Work on Oilfields: Talabani
PARIS (AFP) – Iraqi President Jalal Talabani told business leaders in Paris that he wanted to see the French energy giant Total working in his country's oil fields.
"We might favour a French bid whatever the figures. Don't fear this auction. ... The ... more |
Saudi Almarai Wants Half of Egypt Dairy Market-Report
RIYADH,(Reuters) - Saudi-based Almarai Co says it plans to take a 50 percent share of the dairy market in Egypt, the Arab world's most populous nation, by 2013, a newspaper reported on Tuesday.
Al-Madina newspaper quoted as saying Hatim Saleh, an ... more |
First Energy Bank to Build $1 Bln Saudi Solar Plant
MANAMA,(Reuters) - Bahrain-based First Energy Bank plans to build a $1 billion polysilicon plant in Saudi Arabia with a local partner to cater to rising regional investments in solar power, the company said on Tuesday.
Polysilicon is used in the production ... more |
Gulf Single Currency Not Imminent: Kuwait Minister
KUWAIT CITY (AFP) – The planned Gulf single currency is unlikely to be launched soon as "sufficient time" is needed for preparations, Kuwait's Finance Minister Mustafa al-Shamali said on Tuesday.
"The Gulf single currency is not happening tomorrow ... more |
Saudi Inflation Hits 28-Month Low
RIYADH (Reuters) - Saudi Arabia's annual inflation reached a 28-month low of 3.5 percent in October, but analysts expect it to increase by end-2009 mainly on a chronic housing shortage and weaker U.S. dollar.
Data from the official statistics authority ... more |
Private Banks Flourish amid Iraq's Chaos
BAGHDAD, (Reuters) - Privately-owned banks are flourishing in Iraq as lower violence and increasing savviness among Iraqi bankers fuel a lending boom, U.S. officials and Iraqi banking executives say.
Iraq's tiny banking sector is dominated by two ... more |
Saad Trading says Sukuk Issuer Unable to Meet Payment
MANAMA,(Reuters) - Saad Trading, Contracting & Financial Services on Sunday said the Golden Belt 1 Sukuk Company was unable to make a periodic payment as scheduled on a $650 million sukuk due in 2012.
Saad Trading, Contracting & Financial Services ... more |
Air Arabia Profit Drops Amid Swine Flu Concerns
SHARJAH (AFP) – Net profit at Gulf low-cost carrier Air Arabia dropped nine percent in the third quarter from a year earlier amid concerns about swine flu and the credit crunch, it said on Saturday.
The different timing of the Islamic holy month of ... more |
Saudi to Double Total Refining Capacity by 2015 -Naimi
BEIJING, (Reuters) - Saudi Oil Minister Ali al-Naimi said on Friday the Kingdom's overall downstream investment drive will double its refining capacity at home and abroad by 2015.
The world's top oil exporter is building two new mega refineries at ... more |
Gold Hits Record High above $1,123
LONDON (AFP) – The price of gold surged to an all-time high point above 1,123 dollars per ounce here on Thursday, as trade was driven by buoyant stock markets and the weak US currency, analysts said.
On the London Bullion Market, gold jumped as high ... more |
Aramco CEO sees Oil Demand Rising from 2010: Report
LONDON (Reuters) - World oil demand could rise at a "reasonable pace" as the global economy recovers more and oil prices in the "$70s" a barrel are in a healthy range, the head of Saudi Arabia's state oil company told the Financial Times.
Saudi ... more |
Saudi Telecom's Maxis Stake to Fall after IPO
RIYADH, (Reuters) - Saudi Telecom (STC) said on Wednesday its 25 percent stake in Maxis Bhd would fall to 17.5 percent after Malaysia's biggest mobile phone operator sells shares to the public.
Maxis Bhd is set to raise $3.3 billion in Southeast ... more |
Marriott to Open First Hotels in Algeria, Morocco
DUBAI, (Reuters) - Marriott International will open its first hotels in Algeria, Morocco and sub-Saharan Africa by 2012 and sees further opportunities to grow in Asia as the global economic downturn recedes.
"Asia is in the lead and the Middle East ... more |
World Oil Demand to Grow 700,000 bpd in 2010 - OPEC
DOHA (Reuters) - Global oil demand will grow 700,000 barrels per day (bpd) in 2010, OPEC's Secretary-General Abdullah al-Badri said in a speech delivered on his behalf on Tuesday.
China and India will lead global economic growth next year, with ... more |
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