Thursday 20 November 2014
 
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‘Opec concerned, not panicking about oil price’

Fundamental factors do not justify the sharp drop in oil prices, Opec secretary-general Abdullah Al-Badri said on Thursday, forecasting a price rebound by the second half of next year. "We are concerned but we are not panicki

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Kuwait Finance House Q3 profit falls 10pc

Kuwait Finance House (KFH), a leading Islamic lender, reported a 10 per cent fall in third-quarter net profit on Thursday, in line with analysts' forecasts. The net profit dropped to KD35.5 million ($122.7 million) in the thre

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Saudi's Yansab Q3 net profit falls 20pc as sales drop

Saudi Arabia's Yanbu National Petrochemical (Yansab) reported a 20.1 per cent drop in third-quarter net profit, in line with analysts' estimates, as sales volumes declined.   The firm, a subsidiary of Sau

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Saudi tells Opec it raised output despite oil drop

Top oil exporter Saudi Arabia told the Opec it raised its oil production in September by 100,000 barrels per day, adding to signs it has yet to respond to a drop in prices well below $100 a barrel by trimming output. In a monthly

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Bahrain posts 85pc drop in power cuts

Bahrain has registered an 85 per cent drop in the average duration of power cuts this year, the lowest number of blackouts ever in Bahrain's history, said Minister of State for Electricity and Water Affairs Dr Abdulhussain Mirza.

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Bahrain’s shrimp stocks drop due to illegal fishing

Fishermen in Bahrain have reported a "significant" drop in shrimp stocks in the last month because of illegal fishing. Fishermen's Protection Society president Jassim Al Jeran said the season so far has been abysmal,

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Sharp drop in maid abuse cases in Bahrain

Bahrain has seen a drop in the number of foreign housemaids coming forward with allegations of abuse during Ramadan.   In previous years, extended working hours and allegations of general mistreatment during the

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Emirates ID communication centre sees 53pc call drop

The Emirates Identity Authority’s Communication Centre has seen a significant 53 per cent drop in calls from 837,000 during the first half of last year to 392,000 during the same period this year.

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Saudi crude oil output drops to 9.566m bpd

Saudi Arabia produced 9.566 million barrels per day (bpd) of crude oil in March, down from 9.849 million bpd in February, an industry source familiar with the matter said on Tuesday (April 8).   The world's l

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Burgan Bank Q4 net profit slumps

Kuwait's Burgan Bank reported a big drop in fourth-quarter net profit on Sunday, according to Reuters calculations, with its full-year earnings also significantly lower than the previous period. The lender, 58-per cent owned b

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