Wednesday 29 July 2015
 
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Saudi Telecom Q2 net profit falls 8.7pc, misses estimates

Saudi Telecom Co (STC), the Gulf's biggest telecom operator by market value, blamed rising costs as it posted an 8.7 per cent fall in second-quarter profit on Wednesday to extend a profit slump and miss analyst estimates. The

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Oil falls to lowest close since March, down a 4th week

Brent and US crude futures settled on Friday at their lowest since March and posted their fourth straight weekly decline as weak economic data from China and a rise in US oil drilling rigs applied pressure. US energy firms added 2

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Gold sags to 5-1/2-year low, heads for worst week since Oct

Gold slid more than one per cent to its lowest since 2010 on Friday (July 24), on course for its biggest weekly loss in nine months, as strong US jobs data helped deepen this week's rout and fuelled fears the metal has some way to fall yet.

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Saudi's Ma'aden Q2 net profit falls 27pc

Saudi Arabian Mining Company (Ma'aden), the Gulf's largest miner, posted a 27.2 per cent fall in second-quarter net profit on Tuesday, missing analysts' forecasts. Net profit for the three months to June 30 was SAR270

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Gold up, but set for weekly fall as US rate bets buoy dollar

Gold rose on Friday as chart levels were broken, but was still heading for its first weekly fall in four, pressured by a stronger dollar and renewed expectations for a US rate hike this year. Spot gold climbed 0.8 per cent to $1,2

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Gulf Air losses to fall sharply this year

Bahrain’s national carrier Gulf Air's losses this year are expected to be less than a quarter of what they were just three years ago. Transportation and Telecommunications Minister Kamal Ahmed told MPs yesterday (April 7

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Gold falls on dollar after7-day rally, set for weekly gain

Gold fell on Friday, snapping a seven-day rally as the dollar rebounded after Federal Reserve officials signalled they remained on track to raise rates this year, but the metal still looked set to post its second straight weekly gain.

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Qatar's Ooredoo expects revenue to fall this year

Qatar's Ooredoo forecasts its revenue will fall by as much as three per cent in 2015 and core earnings will drop by a similar margin, a presentation by the telecommunications operator on its website shows. Ooredoo, which has e

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Oil plunge 'posing big economic challenges'

The steep fall in energy prices will hit investment in oil and gas projects worldwide and the industry may cancel about $1 trillion of planned projects globally in the next couple of years, a senior Saudi Aramco executive has said.

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Oil down for 2nd day but sharply off early loss

Oil prices fell for a second day on Thursday (February 19), after the US government reported another record high in crude inventories, but prices bounced sharply off session lows on relief the builds were less than an industry group had estimate

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