Friday 18 April 2014
 
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Ma'aden Q1 profit falls 48pc as metal prices drop

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

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Saudi non-oil exports grow 9.2pc

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

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Gold shines in New Year; up 2pc

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

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GLITTER GONE: Gold to end year down 28pc

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. A d

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Gold extends losses as delay in Syria action

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

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Gold heads for biggest quarterly loss on record

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.

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ME steel consumption on the rise

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

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Alba sets new production record in 2012

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

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Industries Qatar Q1 net down 9.5pc

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. The Gu

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Gold inches up as buyers trickle back

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

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