Saturday 29 April 2017
 
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Saudi Tadawul issues new rules for loss-making firms

Saudi Stock Exchange (Tadawul) will implement new procedures and laid out instructions related to listed companies with accumulated losses reaching 20 per cent or more of its share capital as of April 22, said a report, citing the kingdom'

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Alba sees 3 - 5pc output loss from power outage

A recent power outage in Aluminium Bahrain (Alba), an international aluminium smelter, is expected to result in a loss of 3 to 5 per cent of its total production for 2017, the company said. However, the losses from the incident wi

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Abu Dhabi energy firm Taqa posts $5.2bn net loss

Abu Dhabi National Energy Company (Taqa) has reported a net loss of Dh19 billion ($5.2 billion) for the financial year 2016 as it wrote down the value of oil assets after prices slumped. Announcing the results, Taqa said it booked

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Loss-hit Arabtec outlines major recovery plan

Arabtec Holding, a leading construction company in the Middle East, on Thursday outlined a major recapitalisation programme which will see the loss-hit company raise Dh1.5 billion (($408 million) through a rights issue as part of its new recover

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Arabtec eyes $408m rights issue as 2016 loss widens

Arabtec Holding, a leading construction company in the Middle East, is planning to raise Dh1.5 billion ($408 million) from a rights issue after posting a second yearly loss in 2016, according to a report. This has widened to Dh3.4

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Saudi retail giant Savola swings to Q4 net loss

Savola Group, one of Saudi Arabia’s leading retail and food holding companies, has reported a net loss of SR964 million ($257 million) in the fourth quarter of 2016 compared to a net income of SR515 million ($137 million) for the same peri

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Saudi retail giant Savola swings to Q4 net loss

Savola Group, one of Saudi Arabia’s leading retail and food holding companies, has reported a net loss of SR964 million ($257 million) in the fourth quarter of 2016 compared to a net income of SR515 million ($137 million) for the same peri

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Drake & Scull revenue doubles to $237m, trims net loss in Q3

Drake & Scull International (DSI), a regional engineering and services leader based in Dubai, UAE, said its revenue for the third quarter has grown two-fold to Dh869 million ($237 million) from Dh434 million ($118) for the same period last y

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Flydubai cuts H1 loss to $24.5m

Low-cost carrier Flydubai reported a narrower loss in the first half of 2016, posting Dh89.97 million ($24.49 million) from January to June, down 39 per cent from Dh147.40 million ($40.1 million) in the same period last year. Tota

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Paris tourism lost $849.3m after attacks

Islamist attacks, strikes and floods kept foreign tourists away from the French capital in the first half of the year and cost the Paris region tourism industry some €750 million ($849.38 million) in lost revenue, officials said on Tuesday.

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