News feed unavailable at this time.US job numbers show strong growth
The US economy created 243,000 jobs in January, while the unemployment rate fell to 8.3%, official figures show.
| Service sector sees strong growth
The UK's service sector grew at its fastest rate since March 2011 in January, according to a closely watched survey.
| Personal insolvencies 'down 11%'
Fewer people were declared insolvent in 2011 in England and Wales than in 2010, but the number of companies going bust increased.
| Eurozone service sector growing
The eurozone's service sector grows for the first time in four months, although Spain and Italy continue to struggle.
| UK recession looms, says report
The UK will enter recession in the first half of the year as households continue to cut back, says the National Institute of Economic and Social Research.
| MPC member attacks lending cuts
A member of the Bank of England's Monetary Policy Committee criticises banks for not lending enough to businesses and asks if they are "risk-averse jerks".
| China 'considering' eurozone help
Premier Wen Jiabao says Beijing is "considering" contributing to European rescue funds, during a visit by German Chancellor Angela Merkel.
| Bank says Irish recession to stay
Ireland's Central Bank says the country's domestic economy will remain in recession through 2012.
| UK manufacturing activity expands
The UK's manufacturing sector returned to growth in January, a survey indicates, with activity at its highest level for eight months.
| Case for tax cuts 'is stronger'
The argument for the chancellor to cut taxes to boost the economy is stronger than it was a year ago, the Institute for Fiscal Studies says.
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News feed unavailable at this time. | Qatar General Insurance and Reinsurance dips, releases 2011 results
| Etisalat shares add slightly, as firms comments on potential Africa tower sale, India judgment
The Abu Dhabi market measure ADX General Index (ADXGI) advanced 0.43% to reach 2,476.62, Real estate firms Aldar and Sorouh both closed flat. Abu Dhabi National Energy Co., known as Taqa surged 2.50%. Market bellwether Emirates Telecommunications or Etisalat (Arabic for connections) added 0.10%. Earlier in the day Etisalat commented on two issues. Firstly, Etisalat clearified on news published about a sale of mobile phone towers in Africa. Etisalat said that assessment of potential infrastructure sharing or sale was at a preliminary stage and that no decision had been takes as yet. The National reported yesterday Etisalat hopes to reap $500m to $600m from the sale of 4,000 to 5,000 towers in Africa. Secondly, Etisalat said in regards to an Indian court's verdict to cancel all 122 of the 2008 spectrum licensees granted to eight operators including Swan Telecom (Etisalat DB Telecom India), there was no immediate cash flow impact but an assessment of a negative impact of Etislat DB's business plan will be made through an impairment test. [AMEInfo.com]
| NASDAQ Dubai: DP World shares knock at $11.00
The FTSE NASDAQ Dubai UAE 20 Index closed flat at 1493.050 today. Market bellwether DP World rose 1.29% to close at $10.99 as 3.5m DPW stocks were traded. Interior designer Depa Limited ended even at $0.36. [AMEInfo.com]
| Egypt bourse shockwaves felt at Dubai Financial Market
The DFM General Index dipped 1.21%, closing at 1,435.96 points as the Egyptian Exchange dived over two per cent Thursday on fears the military could reinstate the martial law after riots in a Port Said football stadium left more than 70 dead yesterday evening. Part of the DFM losses may also be triggered by profit booking, after the DFMGI gained over six per cent in Januar. Emaar Properties declined 0.71% to Dhs2.78. Logistics specialist Aramex fell half a per cent to Dhs1.79. Earlier in the day, Aramex reported a full year net profit reaching Dhs211.5m, plus four per cent year-on-year. Aramex' fourth quarter saw also an increase of 4% in net profits, amounting to Dhs57.2m. Some 135m were traded, valued at Dhs185.7m. [AMEInfo.com]
| Egypt receiving $1.15bn 'urgent financial aid' from EU, World Bank
Egyptian finance minister Momtaz El-Saeed has announced the country is to receive an urgent aid package worth $1.15bn from the European Union and World Bank, Ahram has reported. The European Union is to supply $650m, while the World Bank is providing Egypt with $500m, the ministry said. The World Bank has also pledged to help Egypt with $2bn in funding over two years. An IMF delegation is expected to return to Cairo in the coming weeks to finalise an agreement on a controversial $3.2bn loan facility. [AMEInfo.com]
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| PressReleaseNetwork.com News |
Tribal Fusion Named World's Second Largest Display Advertising Provider
Tribal Fusion, the global online advertising provider owned by Exponential, is the world's second largest source of display advertising, according to comSCORE's December 2011 rankings of the leading global display networks. [Wired by: PressReleaseNetwork.com]
| Verizon Expands Global Enterprise Network Platform in Africa and the Middle East
Verizon has expanded its global enterprise network platform, enabling multinational corporations to take advantage of Verizon's Private IP service in six additional African countries, and Bahrain and Qatar in the Middle East. The expansion will make it possible for Verizon customers with locations in these emerging markets to more effectively exchange data and global business applications and employ the company's world-class managed network and security solutions. [Wired by: PressReleaseNetwork.com]
| HotelTravel.com expanded hotel inventory offers 'Real Choice'
HotelTravel.com doubled its online hotel inventory during 2011, adding tens of thousands of new hotels in fabulous travel destinations worldwide, offering its customers more choice than ever before. [Wired by: PressReleaseNetwork.com]
| GCube Increases Capacity to $100 Million for Offshore Renewable Energy
GCube, the leading provider of insurance services for the renewable energy industry, has increased its underwriting line size by an additional $50 Million for offshore renewable energy projects, bringing the total available capacity for a single project to $100 Million. [Wired by: PressReleaseNetwork.com]
| GreenGro Technologies Announces Aggressive Expansion Plans to Capitalize on Eco-Friendly Products and Technologies
GreenGro Technologies Inc. is opening its first retail location in Orange County, CA. on February 1, 2012. The facility will also house GreenGro's corporate operations. [Wired by: PressReleaseNetwork.com]
| Middle East Countries To Consume 28 Million Tonnes Of Paper By 2020
The increasing demand for paper products and stationery from the vibrant economies of the Middle East is expected to continue to shape the future growth of the industry according to recent research findings. [Wired by: PressReleaseNetwork.com]
| Saudi IT Market To Touch USD 5 Billion By 2015
The Kingdom of Saudi Arabia's lucrative IT sector - currently the biggest in the Gulf region - is expected to grow into a USD 4.9 billion market by 2015. It currently represents almost 70 per cent of the Gulf's total IT business and has received investments in excess of USD 35 billion over the last 10 years. [Wired by: PressReleaseNetwork.com]
| Middle East Companies Should Define an IP Communications System Migration Map for Success, says Expert
Planning any IT technology upgrade is never easy and if it happens to involve your company's enterprise communications systemIit takes careful upfront planning and an understanding of what's currently available since the last time you did an upgrade. [Wired by: PressReleaseNetwork.com]
| Nokia hits 1.5 billion sales of revolutionary Series 40 mobile phones
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