MANAMA: Unicorn Investment Bank (Unicorn) said yesterday it posted a net profit $35 million for the year 2008 after impairments and fair value writedowns. The bank also said it earned a record operating profit of $73.8 million before impairments and fair value write-downs, up by 46 per cent from $50.4 million in 2007.
Kuwait to issue $678m in bonds
KUWAIT: Kuwait’s central bank said it would issue 200 million dinars ($678 million) of one-year treasury bonds on March 18 carrying a coupon of 2.25 percent. Central bank data showed it received 1.26 billion dinars of bids for the bonds, which mature March 17, 2010.
Oman inflation to fall in 2009
MUSCAT: Oman’s inflation would fall to a “single-digit” level in 2009 as an oil price slump relieves inflationary pressures, Oman’s central bank executive president said yesterday. Annual inflation in Oman fell below 10 percent for the first time in more than a year in January as food price pressures eased, the Ministry of National Economy said on Sunday.
Linde’s net profit dips 23%
FRANKFURT: German industrial gas and engineering company Linde AG said yesterday its 2008 profit fell 23 percent from a year earlier despite rising sales, due to one-time effects that added to its bottom line in 2007. The Munich-based company said full year net profit dropped to 717 million euros ($925 million) from 952 million euros in 2007.