Drake & Scull International net profits rise 2010
Drake & Scull International (DSI), reported net profit of US$4.1mn for the fiscal year ended December 31, 2010 and recorded US$503mn in revenue for the same period.
Business & Management
SESCO sees an upturn in the market in 2011
Saudi Electric Supply Company (SESCO) is looking to strengthen its presence in the GCC and the company?s general manager believes markets in the region will see an upturn this year.
Jordan revises its 2011 budget plan
Jordan revised its 2011 budget which saw state spending increase to US$8.9 billion to cover higher welfare costs.
Saudi Arabia to spend US$155 billion in 2011
Saudi Arabia plans to spend US$154.7 billion in 2011 on infrastructure and education to spur growth in the countrys economy.
GCC aid is unlikely to immediately affect ratings on Bahrain and Oman
Standard & Poors Ratings Services said that ongoing political tensions in the Kingdom of Bahrain (BBB/Watch Neg/A-3) and Sultanate of Oman (A/Watch Neg/A-1) remain a significant issue for the credit standing of both sovereigns. This is despite the Gulf Cooperation Councils (GCCs) March 10 announcement of a US$20 billion economic aid support package over ten years, to be shared equally between the two governments.
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