Al Abdullatif, Arab National Bank, Barwa: Gulf Equity Preview

The following companies may rise or fall in Gulf Arab markets. Stock symbols are in parentheses and prices are from the last close.

Dubai’s DFM General Index lost 2.4 percent to 1,479.41, the lowest since Aug. 16 at the 2 p.m. close in the emirate. Qatar’s QE Index slumped 3.6 percent and Kuwait’s gauge dropped 0.1 percent.

Al Abdullatif Industrial Investment Co. (ALABDUL AB): The Saudi carpet manufacturer plans to invest 54.8 million riyals ($14.6 million) expanding five units. The shares increased 0.8 percent to 26.4 riyals.

Arab National Bank (ARNB AB): Saudi Arabia’s sixth-largest publicly traded lender reported an 18 percent increase in bad loans provisioning in the fourth quarter. The shares decreased 1.5 percent to 40.2 riyals.

Aramex PJSC (ARMX UH): The Middle East’s largest courier company said it acquired Ireland-based Aquaship Agencies as part of its expansion into Europe. The shares slumped 7.4 percent to 1.51 dirhams.

Barwa Real Estate Co. (BRES QD): The nation’s biggest publicly traded property developer by assets said full-year profit rose to 1.4 billion riyals ($384 million) from 766 million riyals a year earlier. The shares declined 1.5 percent to 33.35 riyals.

Commercial Bank of Kuwait SAK (CBK KK): The Persian Gulf country’s second-biggest bank by market value said 2010 profit rose to 40.5 million dinars ($145 million) from 146,000 dinars in 2009. The shares were unchanged at 930 fils.

Jazeera Airways KSC (JAZEERA KK): The Kuwaiti low-cost airline reported a profit of 2 million dinars in the fourth quarter after a loss 6.7 million dinars a year earlier. The shares were unchanged at 120 fils.

National Mobile Telecommunications Co. (NMTC KK): The Kuwaiti phone company controlled by Qatar Telecom said fourth- quarter profit more than doubled to 24.3 million dinars from 11 million dinars in the year-earlier period. The shares were unchanged at 1,780 fils.

To contact the reporter on this story: Zahra Hankir in Dubai at

To contact the editor responsible for this story: Claudia Maedler at

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