Saudi Arabian Mining Co (Ma'aden) blamed falling metal prices after it posted a 48 percent drop in first-quarter net profit on Monday.
Ma'aden made a profit of 125.2 million riyals ($33.4 million) in the three months to Ma
Saudi Arabia’s non-oil exports grew 9.2 per cent year-on-year in December as returns reached SR19.9 billion ($5.3 billion), said a report.
The steep rise in exports revenue is owed, by weight, to high demand for plastics, an
Gold futures jumped 2 percent on Thursday as bargain hunters resurfaced after prices plunged to a six-month low, but optimism over the global economic outlook and the imminent end of the US Federal Reserve's monetary stimulus could cap gains
Gold staged a modest rebound on Tuesday after falling more than 1 percent in the previous session, but the precious metal was still heading for its biggest annual decline since 1981 because investors shifted money to equities.
Gold edged lower for a fourth straight session on Tuesday as a delay in a potential US strike on Syria and strong global economic data dented bullion's safe-haven appeal.
The precious metal has dropped 3 per cent since hitting
Gold fell to its lowest in almost three years on Wednesday, putting it on course for a record quarterly loss, as US economic data increased fears the Federal Reserve will soon end ultra-loose monetary policy.
The Middle East region is set to buck the global trend of a drop in steel consumption and rebound to a growth of 5.7 per cent in 2012 following a 2 per cent contraction in the previous year, a report said.
The global growth foreca
Aluminium Bahrain (Alba) achieved a major landmark in 2012 netting the highest metal production in its 41-year history with an output of 890,217 metric tonnes compared to 881,310 mtpa achieved in 2011.
A ceremony was held at the H
Petrochemicals and metals company Industries Qatar (IQ) posted a 9.5-percent dip in first-quarter net profit on Thursday on declining petrochemical revenue but beat analysts' expectations thanks to strong fertiliser and steel sales.
Gold edged higher on Friday as buyers slowly returned to the market, lured by Wednesday's plunge of 5 percent, although bullion is still looking at its worst week since December.
US Federal Reserve Chairman Ben Bernanke's lack of a referen