News

  Reuters Economists expect Egypt’s central bank to keep rates unchanged at its monetary policy committee (MPC) meeting on Thursday, after it raised rates by 100 basis points at its last meeting. The central bank put up its key rates by 100 basis points to their highest level in years at its last MPC meeting on June 16, a move ...

  WAM Kuwaiti ministry of Information started the implementation of law No. 8/2016 to regulate electronic media, which was approved and published in the Official Gazette recently. The new law is to regulate all web-based publications including electronic news services, bulletins, websites of newspapers and televisions and the likes. Under the legislation, all these services must obtain a license from ...

  REUTERS National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 percent increase in second-quarter net profit on Tuesday. The company’s net profit for the three months to June 30 was 504.18 million riyals ($134.44 million), up from 342.48 million riyals in the same period a year earlier, it said in a bourse ...

  REUTERS Kuwait Finance House (KFH), the country’s biggest Islamic lender, reported a 13.3 percent rise in second-quarter net profit according to a statement on Tuesday, broadly in line with analysts’ forecasts. Net profit rose to 36.77 million dinars ($121.59 million) in the three months to the end of June, from 32.45 million dinars in the same period a year ...

  REUTERS State-run oil firm Saudi Aramco has named Ibrahim al-Buainain as chief executive officer of its trading arm, it said in an emailed statement on Tuesday in response to a Reuters query. It said Buainain started his new role earlier this month. Buainain had held the position of head of transaction development at Saudi Aramco for less than a ...

  REUTERS Saudi Arabia’s Etihad Etisalat (Mobily) swung to a net profit in the second quarter, according to a statement on Tuesday, after not repeating a significant provision recorded in the corresponding quarter of last year. Mobily, which had slashed 27 months of previously-reported earnings by nearly $1 billion, made a net profit of 18.8 million riyals in the three ...

  Manama / TNS New rules that make it mandatory for all commercial registration holders (CRs) to be members of the Bahrain Chamber of Commerce (BCCI), will help reduce the incidence of ‘ghost’ companies, a top official has said. BCCI second vice-chairman Abdulhameed Al Kooheji told the GDN on the sidelines of the inauguration of a new and improved Client Care ...

  Bloomberg China National Petroleum Corp. said its Changqing oil field, the country’s biggest crude and gas producer, rebounded from losses earlier this year to post a first-half profit amid reduced spending. Oil and gas equivalent output from the field reached 26.5 million tons in the first six months of the year, on its way to meeting the 50-million-ton annual ...

  AFP Scientists from India, the United States and Japan have struck upon a large natural gas deposit in the Bay of Bengal, the first potentially producible discovery of its kind in the Indian Ocean. A research expedition carried out jointly by the three countries discovered the natural gas hydrate — an ice-like form of the fuel — off India’s ...

  Bloomberg Maruti Suzuki India Ltd.’s profit climbed 23 percent as demand for its Vitara Brezza sport utility vehicle led a more than doubling of sales in India’s fastest-growing segment. Net income in the quarter through June rose to 14.9 billion rupees ($221 million) from 12.1 billion rupees a year earlier, the New Delhi-based unit of Suzuki Motor Corp. said ...