Qatar's Doha Bank Q4 net profit falls 85 pct
DUBAI, Jan 22 Doha Bank, Qatar's fifth-largest lender by assets, reported a 84.8 percent decline in fourth-quarter net profit on Sunday, according to Reuters calculations.
DUBAI Dec 25 Gulf stock markets mostly look set to consolidate on Sunday with trade thinned by the absence of foreign investors for Christmas holidays, but Saudi Arabia's bourse - particularly petrochemical stocks - may rise after the release of the 2017 state budget.
Riyadh said late on Thursday that it had succeeded in cutting a huge budget deficit caused by low oil prices and would increase government spending in 2017 to support flagging economic growth.
It pledged to increase infrastructure spending, said it had settled unpaid bills to the private sector and promised to settle future bills within 60 days of receiving them - good news for the Saudi construction sector.
Although domestic fuel and electricity prices will rise by unspecified margins later this year, the government said it would not raise gas feedstock prices before 2019, which was positive for the petrochemical industry.
The government did not say how much domestic energy prices would rise so it is difficult to calculate the impact on Saudi companies, but Saudi Electricty could be bought on hopes a power tariff rise will boost its bottom line.
Zain Saudi may attract interest after saying on Thursday it was in talks to sell its mobile transmitter towers to a consortium of TASC SAL and ACWA Holding IPO-ACWA.SE. (Reporting by Andrew Torchia)
KINSHASA, Jan 22 China Molybdenum Co Ltd (CMOC) said on Sunday it had signed an agreement with Chinese private equity firm BHR to support BHR's acquisition of a 24 percent stake in Democratic Republic of Congo's giant Tenke copper mine.
WASHINGTON, Jan 22 The Trump administration will not allow 20 million people who rely on the Affordable Care Act for their health insurance to go without coverage when the law, known as Obamacare, is repealed and replaced with a new plan, a senior White House official said on Sunday.