business / Finance
Grocery Store Longs And ShortsForget the idea that consumers are pinching pennies. Whole Foods is among your best bets.
Forbes Tuesday, August 11, 2009Panel warns small-bank face whole loans threatA bank-bailout oversight panel says smaller public banks could face serious trouble if a worst-case scenario develops for their whole-loan portfolios.
Market Watch Tuesday, August 11, 2009UAE amends SME start-up capital lawUAE President Sheikh Khalifa bin Zayed Al Nahyan has issued a decree amending a law that required limited liability companies to invest at least Dhs150,000 ($40,800) as start-up capital in a bid to boost growth in the second-biggest Arab economy, Wam has reported. The new decree leaves it up to partners in limited liability companies to determine sufficient capital requirements for the establishment of their companies. [AMEInfo.com]
AME Tuesday, August 11, 2009SABB Takaful shares jump 10%Riyadh's Tadwul market closed at 5,869.73 points amid lacklustre trading as most Saudi investors are off on their traditional August holiday abroad. Share of Islamic insurance operator SABB Takaful, which is part of the HSBC Group, closed at SR46.30 (up 9.98%). GCC market bellwether Sabic dipped 1.69% lower on profit bookings, ending at SR72.75. [AMEInfo.com]
AME Tuesday, August 11, 2009Kuwait index flirts with 8,000 points levelOnly the closing bell prevented the Kuwaiti bourse KSE (Price Index) from approaching the 8,000-points-barrier further. The Index closed 1.79% higher at 7,909 points with 620,352,500 shares changing hands. Better prospects for the oil market supported the sentiment. Investment bank EFG Hermes raised its oil price forecasts last week for Brent Crude to $60 per barrel for 2009e and $70 per barrel for 2010e. Kuwait?s national budget is based by 95% on oil revenues and EFG Hermes expects a fiscal surplus for the northern gulf state in 2009 (in contrast to fears at the beginning of the year when oil prices were below $50 per barrel. Consequently, shares of fuel station operator Oula Fuel Marketing Co gained 8.06% today, closing at KD0.335. Al Masaken International
real estate Development Co posted the largest retreat, ending at KD0.86 (off 10.41%). [AMEInfo.com]
AME Tuesday, August 11, 2009Damas closes 11.11% higherAt the Nasdaq Dubai, shares of jewellery trader Damas gained 11.11%, closing at $0.30 as optimism increases after the financial crisis has taken its toll among retailers. According to a survey done by global research institute AC Nielsen, UAE ranks as the seventh most optimistic country in the world in the second quarter of 2009. Shares of DP World closed at $0.35 (1.41% lower). DEPA remained flat at $0.64, other stocks were not traded. Equities trading volumes at the Nasdaq Dubai reached 127.7m shares in July, up 32% from 96.5m recorded in July 2008, as the DIFC-based market revealed today. [AMEInfo.com]
AME Tuesday, August 11, 2009BIS warns slump aheadAUSTRALIANS should brace for a run of bad news with the economy heading into its toughest phase of the downturn, a leading forecaster says.
The Australian Tuesday, August 11, 2009JB shares shoot upJB Hi-Fi Ltd's share price has shot to a record high with its biggest annual profit and expectations of 20 per cent sales growth this financial year.
The Australian Tuesday, August 11, 2009Storm threat to BoQTHE Bank of Queensland has been given one last chance to settle claims from victims of the Storm Financial collapse or face a class action.
The Australian Tuesday, August 11, 2009Should You File Your 2007 Income Tax Even If it Is Two Years Late?It's important to file a late 2007
income tax rather than to never file at all. If you do not file and you are supposed to, it may cause a lot of problems for your taxes and future.
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