Market Updates - 22 Apr
Egypt
Head of SCAF assures power will be handed over to civilians in response to Friday demonstrations against military rule
Lagarde: IMF loan for Egypt won't be enough, other participants should also come to the table to help Egypt
Constitutional Court denies SCAF's request over Disenfranchisement Law, says it has no legal jurisdiction over draft legislations not yet approved by military council
Government asks for EGP109 billion in subsidies for petroleum products in FY12/13 budget
Campaign group: IMF should cease all loan negotiations with Egypt
Egypt to see Saudi financial support package of USD1 billion by April end
Tourist visits to Egypt up y-o-y during first quarter of 2012
Brotherhood presidential candidate Mursi will resign as party chief if he wins
Cairo Poultry releases preliminary 1Q2012 financial results
Oriental Weavers AGM approves cash dividend of EGP1.5/share for FY2011, versus BoD proposal of EGP0.75, with an implied yield of 8.3%
Pioneers's net income surges in FY2011
EZDK to distribute EGP40.00 DPS, in-line with expectations
Saudi Arabia
IMF advises SAMA to place cap on bank lending
Jeddah Port launches Red Sea Gateway Terminal
Kingdom Holding 1Q12 net rises 11% y-o-y to SAR100.8 million
Emaar Economic City reports net profit of SAR45.2 million in 1Q2012
Dar El Arkan's 1Q2012 net profit grows by 7.1% y-o-y
Knowledge Economic City reports net loss of SAR8.3 million in 1Q2012
Al Othaim releases preliminary 1Q2012 financial results; net profit at SAR33.90 million, -7.2% y-o-y
MAADEN in talks with banks for USD1.86 billion loan
Saudi Cables 1Q2012 profits surge; wins SAR55 million contract
MMG posts 31% y-o-y drop in earnings as provisions are booked
Al Khodari's revenue growth diluted by added costs, earnings up 7% y-o-y
Nama Chemicals books 1Q2012 loss
Samba 1Q12 earnings in line, up 2% y-o-y to SAR1.15 billion
UAE
UAE has no plans to raise its oil supply to Europe
Abu Dhabi airport traffic grows 21% in 1Q2012
Dubai launches first copper futures in Middle East
Developers allowed sales launch only after 20% of project is completed
Deyaar's 1Q2012 net profit reaches AED9.4 million
Arabtec wins AED222 million contract from Aabar
Qatar
QIA manages over USD65 billion in assets
Qatar’s stake in Total rises to 3%
Turkey in talks to buy 3 bcm of LNG annually from Qatar
Industries Qatar 1Q2012 results: in line with our estimates, but beats consensus
Nakilat releases 1Q2012 financial results; net profit at QAR176.50 million, -6.4% y-o-y
Al Ahli Bank 1Q12 net income QAR118.4 million, up 2% y-o-y
Qatar Oman Investment 1Q12 net profit falls 6.1% y-o-y to QAR9.2 million
Oman
Shell Oman Marketing releases 1Q2012 financial results; net profit at OMR3.37 million, -15.8% y-o-y
Iraq
Iraq's southern oil fields expected to produce 2.75 million bpd
Tunisia
Tunisia to receive USD500 million loan from Qatar
GCC
GCC to impose 100% 'health tax' on tobacco