UAE’s Mashreqbank’s FY 2009 NI fell by 39% YoY to AED1 bn from AED1.64 bn, on Operating Income of AED4.9 bn. OI growth was largely driven by 30% YoY growth in Fee, Commission and other income as well as robust growth in investment income. Mashreqbank’s 9M 2009 NI had fallen by 20% YoY to AED1.12 [...]

On February 2, 2010 TNK-BP completed the placement of Eurobonds in the aggregate amount of $1 bn, consisting of a 5-year $500 mn tranche and a 10-year $500 mn tranche. The issuer of the Eurobonds is TNK-BP Finance S.A. (Luxembourg), is a wholly owned subsidiary of TNK-BP International Ltd., which is the guarantor of [...]

African Oxygen said that FY 2009 EPS, excluding one-off items, known as headline earnings, fell by 40-50% YoY, considerably below analyst expectations.
Afrox is scheduled to release FY 2009 results on February 18th. For FY 2008 Afrox had reported headline EPS of ZAR1.34.
Afrox is the largest gases and welding products supplier in South Africa, with products [...]

On Tuesday India’s state-run power utility NTPC set the price floor for its upcoming share sale at INR201 per share, bringing the implied size of the offering of 412.2 mn shares to INR82.87 bn ($1.79 bn), the largest sale of a state asset in the government’s current privatization program drive. The sale represents 5% of [...]

Falcon Tyres plans to seek as much as INR40 bn ($865 mn) in debt and equity financing to fund expansion. The company’s Board has approved equity fnancing in the amount of INR10 bn ($216 mn) and to increase the borrowing limit to INR30 bn. The equity capital raise is planned in several stages, the first [...]

Emami’s fiscal 3Q 2009 (ending December 31, 2009) Consolidated Revenue rose by 30.3% YoY to INR3.5 bn, with Consolidated EBIDTA up by 90% YoY to INR1.06 bn and Profit After Taxes up by 93.9% YoY to INR78o mn. EBIDTA margins in fiscal 3Q 2009 rose to 31.7% from 20.7% in fiscal 3Q 2008.
Emami, a leader [...]

Ezz Steel Rebars, Egypt’s largest steel manufacturer, has raised its February prices for steel rebars free-on-truck (FOT) by 7.5% to EGP3,280 per ton ($698), from EGP3,050 in January. The company said that the increase was driven by price rises of raw materials in global markets. In addition Al Ezz Steel hiked by EGP200 per ton [...]

Indian Hotels, a unit of Tata Group that runs the Taj Hotels Resorts and Palaces chain of hotels, has entered into an agreement with Palm Hills Developments, to run three high-end hotels in Egypt. The three hotels will be part of Palm Hills’ upcoming developments at the North Coast, Ain El Sokhna at the Red [...]

Dana Gas’ FY 2009 Revenue from hydrocarbon sales rose by 12% YoY to AED1.28 bn, while gross profit rose by 69% YoY to AED436 mn. It’s FY 2009 NI fell by 26.7% YoY to AED88 mn from AED120 mn in FY 2008, despite significant profits from the sale of 10% of the company’s interest in [...]

Aabar Investments’ FY 2009 NI rose by 133% YoY to reach AED1.679 bn ($457.4 mn), versus AED721.6 mn ($196.5 mn) in 2008. Its 9M 2009 NI was reported previously as AED1.547 bn, which implies 4Q 2009 NI of AED132.9 mn, an increase of 15.3% over 4Q 2008 NI of AED115.3 mn.
The company’s Total Assets increased [...]