Monday 1 September 2014
 
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Losses

Gulf Air cuts losses by 30pc on higher revenue

Bahrain’s national airline Gulf Air has claimed that it has cut year-on-year losses by nearly a third and increased overall revenue by 10 per cent in the first half this year. However, the airline declined to provide figures

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Bahrain's blaze-hit suq to be rebuilt: Premier

Bahrain's Premier has called for the blaze-hit suq in Muharraq to be rebuilt. His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa gave the instructions as he inspected the damage.   He dire

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Dubai stocks extend losses

United Arab Emirates shares fell further on Monday as retail investors took the flight from emerging markets elsewhere as a cue to book profits, while lower oil prices weighed on Saudi petrochemical shares. In contrast to the hard

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Saudi bourse plans tougher penalties for big losses

The Saudi Arabian Capital Market Authority (CMA) has tightened rules on how long shares in listed firms can trade if the companies have large accumulated losses, it said on Monday, in a move that analysts said could soon affect several firms.

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Gulf Air halts three routes to cut losses

Gulf Air, the national carrier of Bahrain, has announced it was terminating services to Kathmandu, Dhaka and Colombo for "commercial reasons". "Gulf Air recognises the inconvenience this may cause and apologises to

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Bahrain MPs vote against new Gulf Air board

Bahrain’s parliament yesterday voted to replace the entire Gulf Air board, which was only appointed last month, and tear up the contracts of two consultancy firms recruited by the airline, a report said. Five MPs had submitt

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Saudi Al Mojil extends Q3 loss

Saudi construction company Mohammed al-Mojil Group, due to hold an emergency meeting on Monday to discuss breaking up, on Saturday reported a third quarter loss of SR33.8 million ($9 million) as project revenue faltered. The contr

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Saudi construction group MMG eyes break-up

Saudi Arabian construction company Mohammed Al Mojil Group (MMG) has called for an emergency general meeting in November to discuss breaking up, saying its losses now exceeded three-quarters of its capital. External auditors calle

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Isaac onshore losses seen at $2bn

Hurricane Isaac has caused anywhere from $700 million to $2 billion in insured onshore losses after striking the US Gulf Coast earlier this week, disaster modeler AIR Worldwide said. AIR's estimates are slightly higher than its peer

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Total could face $10bn bill if leak explodes

French oil major Total could face costs of up to $10 billion if its North Sea gas leak leads to an explosion and nearly $3 billion if it takes months to fix, according to analysts' early estimates.      As Tot

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