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Airlines set to lose $11bn: IATA
FRANKFURT: Germany’s Lufthansa and the airline industry’s representative body provided a gloomy outlook for the sector as carriers around the world struggled to make a profit amid a fierce battle for business.
“Initial signs of a stabilisation in volumes are far away from making up for the enormo  [more...]
Posted on:10/30/2009

3 Barwa firms merge to form new company
Doha: Barwa Real Estate Company has announced the launch of a new company called “Waseef” which aims at reinforcing its services to customers and facilitating contracting with service providers.  
The new company will be a link between the main Barwa Real Estate Company on the one hand, and agent  [more...]
Posted on:10/30/2009

Qatarlyst appoints new director
DOHA: Qatar Insurance Services LLC (QIS), a company licenced by the Qatar Financial Centre, and which trades as Qatarlyst, has announced the appointment of Khalid A Al Mughesib as a non-Executive Director of the company and a member of the Board.
Al-Mughesib is General Manager of Al Jasr Takaful  [more...]
Posted on:10/30/2009

ExxonMobil profits plunge 68pc in Q3
NEW YORK: ExxonMobil, the largest US oil producer, said yesterday its profit plunged 68 percent in the third quarter to $4.73bn following lower fuel demand amid an economic slump.
It was the fourth quarterly earnings drop for the company and equivalent to 98 cents a share, down from $14.83bn, or   [more...]
Posted on:10/30/2009

GE Oil & Gas bags multi-million dollar Qatargas deal
DOHA: GE Oil & Gas’ PII Pipeline Solutions business has been awarded a multi-million dollar, six-year contract to supply Qatargas Operating Company Limited (Qatargas) with advanced pipeline integrity management services to enhance the monitoring and maintenance of the company’s liquid natural gas (L  [more...]
Posted on:10/30/2009

US and China wrap up high-level trade talks
BEIJING: China and the United States wrapped up trade talks yesterday with token gestures on commercial disputes but tension lurked beneath the surface ahead of a visit by US President Barack Obama.
US Commerce Secretary Gary Locke, Trade Representative Ron Kirk and Agriculture Secretary Tom Vils  [more...]
Posted on:10/30/2009

Qatalum receives its first shipment of raw materials
DOHA: Qatalum received its first shipment of raw materials at its berth in Mesaieed recently. This significant milestone represents Qatalum’s readiness for production of first aluminium at the end of 2009.
On Monday, at approximately 7am, the vessel ‘Sunbird Arrow’ with 3,506 tonnes of pitch, doc  [more...]
Posted on:10/30/2009

GCC needs new market norms, says Mubadala
DUBAI: The Gulf Arab region needs a proven secondary fixed income trading market and strong local bids before issuers warm to longer term maturities, a senior executive at Abu Dhabi-owned investment fund Mubadala says.
The region, cushioned by its oil wealth, had traditionally been averse to tap  [more...]
Posted on:10/30/2009

Iraq to sign deals with ENI, CNPC next week
BAGHDAD: Iraq will initial a draft agreement with a consortium led by Italian energy giant ENI next week to exploit the Zubair oilfield in southern Iraq, the oil ministry said yesterday.
It will be Iraq’s second deal with a major oil company this year and comes as the country, which is heavily de  [more...]
Posted on:10/30/2009

ICAI Doha Chapter elects new managing committee
DOHA: At the recent Annual General Meeting of the Doha Chapter of the Institute of Chartered Accountants of India (ICAI) the new managing committee was elected for the year 2009 - 2010.
CA Kurian Kuriakose was re-elected for a second term as the Chairman for the year 2009-10. Kuriakose is the Ma  [more...]
Posted on:10/30/2009