Thursday 26 March 2015
 
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Adnic swings to $76m loss in 2014

Abu Dhabi National Insurance Company (Adnic) has reported a net loss of Dh280 million ($76.2 million) for the year 2014 as compared to net profit of Dh156 million ($42.4 million) during the previous year. Net Investment Income inc

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EFG Hermes posts $70m profit on bank expansion

Egypt's EFG Hermes turned a profit after tax and minority interests of EGP538 million ($70.51 million) last year after a net loss of EGP540 million the year before, helped by strong growth in its regional investment banking operations, the b

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Jordan airline posts deeper loss due to regional unrest

Royal Jordanian (RJ), the national airline of Jordan, has reported a deeper yearly net loss of JD39.6 million ($55.9 million), hit by regional instability that led to the suspension of flights to some of its main destinations in the Middle East.

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Gold firms after worst losing streak since 1973

Gold firmed on Friday after nine straight sessions of losses, the precious metal's worst losing streak in more than 40 years, as the dollar nursed losses following its extended rally. Spot gold edged up 0.3 per cent to $1,156.

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Ithmaar Bank trims loss to $8.8m in 2014

Bahrain-based Ithmaar Bank has significantly reduced its net loss to $8.8 million last year compared to $79.3 million reported in 2013, marking a decrease of 88 per cent, a report said. The results include a net loss for the fourt

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Gold down on strong shares, set for biggest monthly loss

Gold edged down on Friday and was heading for its biggest monthly loss since September as European shares traded near seven-year highs and upbeat US data supported expectations of a rate hike by the Federal Reserve this year. Gold

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RBS shrinks investment bank, posts $5.4bn loss

Royal Bank of Scotland (RBS) will shrink investment banking operations drastically, pulling out of 25 countries across Europe, Asia and the Middle East and allowing the state-controlled lender to refocus on lending in Britain. RBS

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Lufthansa hit by fuel hedging losses in 2014

Germany's Lufthansa said it will not pay a dividend for 2014 after its results were hit by the sale of an IT unit, an increase in pension liabilities and losses from fuel hedging activities. Some analysts had already said Luft

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Gold edges up on dollar but heads for 3rd weekly drop

Gold inched up on Friday as the dollar softened, but was heading for a third week of losses on expectations of higher US interest rates and hopes of a deal between Greece and its creditors. Spot gold rose 0.2 per cent to $1,224.50

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Gold down before US jobs data, heads for weekly fall

Gold edged down on Friday as the impact of a firmer dollar more than offset lower European equities ahead of keenly awaited US employment data, and looked set to post its biggest weekly loss in almost two months. A strong US jobs

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