Clay And Losung Partners

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Clay & Losung was set-up by a group of experienced financial professionals with the vision of serving the need of customers by applying the company’s professional and financial intelligence. Our partners and employees have built up strong footprint in the financial service sector over more than a decade which helps us to understand the need of our customers and deliver the best available solutions to them.

23/10/2012

Nokia unveils Windows-powered Lumia 510 entry-level smartphone

FINLAND: Nokia unveiled the Windows-powered Lumia 510 entry-level smartphone equipped with a four-inch display, 5-megapixel camera and Nokia maps. This latest addition to the Nokia Lumia range will be available in red, yellow, cyan, white and black.

Lumia 510 makes the unique benefits of Lumia and Windows Phone even more affordable. Nokia estimates the retail price to be around $199, excluding taxes and subsidies.

"With the Nokia Lumia 510 we continue to meet our commitment to bring Windows Phone to new, lower price points," said Jo Harlow, executive vice president of Nokia Smart Devices.

http://economictimes.indiatimes.com/tech/hardware/nokia-unveils-windows-powered-lumia-510-entry-level-smartphone/articleshow/16926373.cms

Sales are planned to begin in November, starting with India and China, at an estimated retail price of about $199.

Q3 in focus; Tamweel seen lower after profit dropGulf investors will look to earnings for cues on Tuesday but are likely...
23/10/2012

Q3 in focus; Tamweel seen lower after profit drop

Gulf investors will look to earnings for cues on Tuesday but are likely to be risk averse with two sessions of trading left for most markets before a long Eid al Adha holiday.
Dubai-based Islamic mortgage provider Tamweel is expected to open lower after it posted a 46.5 percent drop in third-quarter profit, missing analysts' forecasts. It said earnings were hit by higher provisions and funding costs.

"Tamweel's provisions are due to a legal case and its financing book contracted as well despite the uptick in the real estate market, which means they are having a tough time competing with banks," says Amer Khan, fund manager, Shuaa Asset Management. "You'll see some selling pressure but it shouldn't impact the broader market because it is Tamweel-specific."

Heavyweight Emirates NBD, whose shares were unchanged on Monday after its third-quarter profit tripled, says it expects loan growth to remain relatively modest as global uncertainty hits demand.

Source: http://www.arabianbusiness.com/q3-in-focus-tamweel-seen-lower-after-profit-drop-477322.html

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Naspers to invest in Jabbar Internet Group's Souq.comNaspers, a South African multinational company comprising electroni...
23/10/2012

Naspers to invest in Jabbar Internet Group's Souq.com

Naspers, a South African multinational company comprising electronic media and ecommerce businesses, will take a stake of about US$40m in Al Jabbar Internet Group's subsidiary Souq.com, Arabian Business can reveal.

Source : http://www.arabianbusiness.com/naspers-invest-in-jabbar-internet-group-s-souq-com-477341.html

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Barwa Real Estate, Qatar's largest listed property developer, said third quarter net profit more than doubled, as gains ...
23/10/2012

Barwa Real Estate, Qatar's largest listed property developer, said third quarter net profit more than doubled, as gains booked on the fair value of investments offset higher operating and finance costs.

Barwa, which is eyeing asset sales worth US$4.4bn to pay down loans, made a net profit of QAR185.4m (US$50.92m) in the third quarter, compared with QAR80.8m in the same period of 2011, it said in a bourse filing on Tuesday.

The profit was boosted by net fair value gain taken on investment properties, which soared to QAR125.3m from just QAR20.4m in the prior year period.

This offset increase in operating expenses which nearly doubled to QAR119.8m in the quarter and finance costs that grew three times to QAR125m.

Source: http://www.arabianbusiness.com/qatar-s-barwa-real-estate-q3-net-profit-jumps-477337.html

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