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Kuwait: Credit at 5.9% in November with 2014 expected at 7% y/y (NBK - 29/01/2015)

Credit growth was up in November, but failed to make up for recent weakness. Growth ticked up to 5.9% y/y on a KD 222 million gain in lending during the month, but remained weaker than expectations. We expect growth to have finished the year closer to 7%

Ooredoo Oman Q4 profit falls 17pc to $21m (Trade Arabia - 29/01/2015)

Ooredoo Oman, a leading telecoms operator, reported a net profit of RO8.3 million ($21.6 million) in the fourth quarter of 2014, down from RO10 million ($25.8 million) in the year-earlier period, marking a 17 per cent fall in fourth-quarter profit on

Funds turning positive on Saudi as oil stabilises (Reuters - 29/01/2015)

Middle East funds are turning positive on Saudi Arabia's stock market because of signs that oil prices are starting to stabilise, the latest Reuters survey of asset managers shows. Many fund managers became bearish on Saudi Arabia in the past few months

New plan aims to boost investment in Saudi (Trade Arabia - 29/01/2015)

A new plan aims to transform Saudi Arabia’s investment landscape by further diversifying the economy, building its knowledge base, creating job opportunities and maintaining the ease of doing business in the kingdom. The Unified Investment Plan was

Saudi Arabia’s Alhokair planning IPO of Egyptian malls unit (CPI Financial - 29/01/2015)

Saudi Arabia’s Fawaz Alhokair Group plans to raise as much as $400 million from the sale of shares in its Egyptian malls unit, owner of one of the country’s largest shopping centres. The family-owned group appointed CI Capital to advise on the offer,

Barwa signs agreement for designing the project Barwa Village Expands (Qatar Exchange - 29/01/2015)

With the increasing demand on commercial & residential units, Barwa Real Estate starts its expansion project for Barwa Village on AlWakra road and signs an agreement of collaboration with the Arab Engineering Bureau. Eng. Ahmad Abdulla Al Abdulla, Acting

Vodafone Qatar disclosed third quarter financial results (Qatar Exchange - 29/01/2015)

Vodafone Qatar has disclosed its third quarter financial results for the nine month period ended December 31, 2014.The third quarter financial results revealed a net loss of QR 149.8 million compared to a net loss of QR 213.2 million for the

Gulf investors seek bonds stability as shares sink (CPI Financial - 29/01/2015)

Investors are returning to Arab bond markets as stocks in the region tumble amid the plunge in oil. The average yield on bonds sold by Middle East borrowers fell 28 basis points this year to 4.07 per cent, compared with a four basis-point increase in

Competition to establish Centre of Excellence for Islamic Finance (CPI Financial - 29/01/2015)

The State Bank of Pakistan (SBP) is implementing the Financial Inclusion Programme (FIP), sponsored by UK Aid, with the aim to improve access to financial services in Pakistan. The 3rd Challenge Round announced in January 2015 is aimed at promoting

Maldives sees top bank aiding offshore hub goal in Islamic finance (CPI Financial - 29/01/2015)

The Maldives’ biggest bank is opening a Shari’ah-compliant unit, a move the government sees aiding its goal of becoming South Asia’s offshore Islamic finance hub. Bank of Maldives Plc began offering retail deposits that comply with the religion’s ban on

Bank Muscat board proposes 45 per cent dividend (CPI Financial - 29/01/2015)

Bank Muscat, has proposed a 45 per cent dividend for the year 2014, 25 per cent in cash, five per cent as bonus shares and 15 per cent in the form of mandatory convertible bonds. The meeting of the Board of Directors chaired by Shaikh Khalid bin

National Bank of Oman (NBO) cash dividend 17 per cent (MSM - 29/01/2015)

The Board of Directors of National Bank of Oman have approved the bank’s financial statements and have recommended a cash dividend of 17 per cent and stock shares of 10 per cent (1 share for every 10 shares held) of the paid up capital of the Bank.

Oil jumps on weaker dollar; traders wary of stock build (Reuters - 29/01/2015)

Oil jumped as much as 3 percent on Tuesday as a weak dollar propped up commodities, but crude prices came off their highs in post-settlement trading on signs of another big U.S. supply build last week. Oil prices were up most of the day, tracking the

Yen down as Fed signals "solid" growth, Japan retail sales slow (Investing.com - 29/01/2015)

The yen weakened and the Australian dollar gained in early Asia Thursday in mixed moves after the Federal Reserve said overnight the U.S. economy was expanding "at a solid pace" as it largely looked through weakness overseas in a signal that it remains

Dollar Inches Higher (Fox Business - 29/01/2015)

Stocks and the dollar retrenched on Wednesday amid speculation the Federal Reserve will take a dovish turn in its post-meeting statement later as signs emerge that the greenback's strength is hurting company profits. Worries that Greece's new government

Saudi average oil output forecast at 9.6 mbpd in 2015 (Saudi Gazette - 29/01/2015)

In a very competitive global oil market, with ample supply from non-OPEC sources, Saudi Arabia’s full year average crude production in 2015 is projected to reach 9.6 mbpd, declining slightly to 9.4 mbpd in 2016, Jadwa Investment, a leading Saudi Arabian

Profits of Saudi cement firms rise 6% to SR5.9bn (Arab News - 29/01/2015)

Net profits of the listed cement firms grew by 6 percent to reach SR5.9 billion in 2014 compared to SR5.6 billion in 2013, according to a financial report. Meanwhile, profits of the fourth quarter (2014) grew by 31 percent to SR 1.44 billion compared to

IDF Oman to feature 55 global firms (Oman Daily Observer - 29/01/2015)

The second Interior Design, Décor & Furniture Exhibition Oman, organised by Al Nimr Expo, in association with the Ministry of Housing, will be held from February 17–19 at the Oman International Exhibition Centre in Seeb. The exhibition, to be created by

GE to provide new systems to Yanbu plant (The Peninsula - 29/01/2015)

GE’s power conversion business will provide the electrical variable speed drive (eVSD) system technology including motors and MV7000 drives to help power the new Yanbu 3 power and desalination plant in Saudi Arabia. The systems from GE will increase the

Mobily, SAP enter into a training accord for employment of graduates (Saudi Gazette - 29/01/2015)

Etihad Etisalat (Mobily), PSU, and SAP global company, signed a strategic partnership agreement to launch the second batch of the Mobily SAP training program for employment, which is one of the approved programs of King Salman bin Abdulaziz for Education

Sadara, Chemie-Cluster Bayern seal joint cooperation agreement (Saudi Gazette - 29/01/2015)

Sadara Chemical Company (Sadara) and Chemie-Cluster Bayern GmbH (CCB) have signed recently an agreement to cooperate and jointly support the development of Chemical based value chains in PlasChem Park in Jubail. The agreement will primarily focus on the

Tethys profit surprises (Oman Daily Observer - 29/01/2015)

Despite the steep slide in global oil prices, Swedish exploration and production firm Tethys Oil says it has notched up record revenues in Omani oil exports in 2014 based on sales averaging an impressive $103.9 per barrel. The revelation provides a

Qatar trade balance hits QR22.7bn, PPI declines (The Peninsula - 29/01/2015)

Qatar’s trade balance of goods, which represents the difference between total exports and imports, showed a surplus of QR22.7bn in December 2014, a decrease of QR11.1bn, or 32.8 percent, from a year ago. The Ministry of Development Planning and

Middle East print market set to reach $20 billion by 2016 (Saudi Gazette - 29/01/2015)

Over 10,000 printing industry professionals are expected to descend on Dubai in April when Gulf Print & Pack 2015 opens for business at the Dubai World Trade Centre (DWTC). As the world’s fourth fastest growing printing market, visitors to the show are

Key Tenmou-backed app raises $300,000 funding (Gulf Daily News - 29/01/2015)

Tenmou, Bahrain's first 'Business Angels' company, yesterday announced that 'eat' '“ an app that allows users to create restaurant reservations online, has raised $300,000 in the second round of funding. With this additional capital, 'eat' has raised a

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