MIDEAST STOCKS - Factors to watch - Mar 26
DUBAI, March 26 Here are some factors that may affect Middle East stock markets on Sunday. Reuters has not verified the press reports and does not vouch for their accuracy.
Colgate-Palmolive Co (CL.N) posted lower quarterly profit on Thursday as sales grew but the recent devaluation of the Venezuelan bolivar led to a hefty charge.
Colgate, best known for its namesake toothpaste, earned $460 million, or 97 cents per share, in the first quarter, down from $593 million, or $1.23 per share, a year earlier. The latest period included a one-time aftertax charge of $111 million, or 23 cents per share, from remeasuring its Venezuelan balance sheet due to the country's currency devaluation in February. It also included aftertax restructuring charges of $55 million, or 12 cents per share.
(Reporting by Jessica Wohl in Chicago; Editing by Jeffrey Benkoe)
March 25 Uber Technologies Inc suspended its pilot program for driverless cars on Saturday after a vehicle equipped with the nascent technology crashed on an Arizona roadway, the ride-hailing company and local police said.