UAE telecom giant Etisalat said Thursday its net profit surged 26 percent last year to reach $2.43 billion as the company saw a hike in subscribers after acquiring a Morocco operator stake.
The company said its net profit in 2014 after deducting royalty reached 8.9 billion dirhams, while revenues for the whole year surged also 26 percent to 48.8 billion dirhams.Full Story
Oil prices fell in Asia Thursday but losses were curtailed as dealers focused on positive elements of a mixed U.S. energy stockpiles report, analysts said.
West Texas Intermediate for April eased 43 cents to $50.56 while Brent crude for April tumbled 31 cents to $61.32 in afternoon trade.Full Story
Loans to the private sector in the euro area, a gauge of economic health, fell year-on-year in January, but by less than in December, the European Central Bank said Thursday.
The volume of loans to private businesses and households declined by just 0.1 percent in January compared with the same month in 2014, a lower rate than the drop of 0.5 percent recorded in December, the ECB said in a statement.Full Story
Greece's finance minister hailed Thursday a "turn in the tide" following an extension of the stricken eurozone country's bailout but warned of problems ahead in meeting billions of euros in debt repayments.
Finance Minister Yanis Varoufakis told Bloomberg TV in an interview that 700 million euros ($795 million) was deposited at Greek banks on Tuesday, when Greece's creditors approved the four-month extension.Full Story
Consumer confidence in Germany is at its highest since late 2001, as rising optimism about the economy and income expectations persuade German shoppers to open their wallets, a poll found on Thursday.
"The escalation of the situation in east Ukraine, the ongoing tensions between the West and Russia and events in Greece are not leaving much of an impression on German consumers, who are increasingly optimistic," market research company GfK said in a statement.Full Story
The Lebanon Industry Value Chain Development (LIVCD) project, funded by the United States Agency for International Development (USAID), organized a closing workshop of the Mechanical Harvesting Program within the Olive Oil Value Chain.
The goal of the Mechanical Harvesting Program was to improve olive oil productivity at the orchard level, and decrease harvest and production costs for 1,000 olive oil producers across Lebanon.Full Story
International ratings agency Moody's said Tuesday it had downgraded all ratings for scandal-plagued Brazilian oil giant Petrobras.
Until recently, Petrobras had been considered one of the best and most prestigious businesses in Brazil. But Moody's dropped its unsecured debt rating from Baa3 to Ba2.Full Story
The hard work for Greece's new anti-austerity government began Wednesday of living up to promises made not only to international creditors but also to voters expecting relief from years of painful cuts.
On Tuesday Athens secured -- but only just -- a four-month extension to its lifeline bailout programme, although the German and Greek parliaments still have to give the green light.Full Story
Russia is seeking backing from Abu Dhabi investors to build a giant airport in Cuba seen as an international gateway to Latin America, a report said Wednesday.
Talks on the proposal have been held between Moscow and Abu Dhabi state investment fund Mubadala, The National newspaper reported citing Russian Industry Minister Denis Manturov.Full Story
Prime Minister Narendra Modi's government unveils its first full budget Saturday under intense pressure to bring about promised reforms to grow India's economy after winning the biggest mandate in 30 years at last year's elections.
Modi has promised to slash red tape, reform tax and overhaul land acquisition laws to try to attract foreign investment and create jobs for millions of young people.Full Story