Brent crude oil fell on Monday to a five-year low below $68 before recovering most of the losses as investors looked for a price floor after Opec's decision last week not to cut production.
US crude and Brent have fallen for f
BMI Bank, a subsidiary of Al Salam Bank – Bahrain, has posted a loss after provisions of BD5.7 million($15 million) for the first nine months of the year as compared to a net profit of BD88,000 during the same period last year.
Brent slipped below $86 and is headed for its fourth weekly loss in a row, despite climbing by almost a dollar earlier, as investors see no respite in a four-month rout sparked by ample supply and slowing demand from Europe to China.
BlackBerry reported it has narrowed its loss in the latest quarter, and expressed optimism that its major restructuring and new business-friendly devices would help fuel a turnaround.
Releasing fiscal second-quarter results, chief
Egypt's Orascom Telecom Media and Technology Holding said its profit fell 22.7 per cent in the second quarter to 351.68 million Egyptian pounds ($49.19 million).
The results came in a statement published in Egyptian newspapers. -
Oil prices were heading for their third straight weekly loss on Friday as worries about supply disruptions in the Middle East and North Africa eased, although Brent stayed comfortably above $108 a barrel.
UAE shipper Gulf Navigation said on Wednesday it had cut its capital by two-thirds and written off accumulated losses worth 1.1 billion dirhams ($300 million), key parts of a turnaround plan designed to solve its debt problems.
Royal Jordanian Airlines will receive a cash injection of 100 million dinars ($141 million) this year, which will help the carrier recover from operational losses on its Middle Eastern routes, an executive said on Monday.
Jet Airways has laid out a three-year restructuring plan vowing to take tough measures to return India's No. 2 airline by market share to profit after posting its worst ever loss.
All but one of India's big airlines loses
Jet Airways (India), part-owned by Abu Dhabi's Etihad, reported its biggest-ever quarterly loss as costs jumped and it took a charge on its investment in a subsidiary.
The No. 2 Indian carrier by domestic market share, which l