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Bahrain corporate earnings ‘set to grow 6pc this year’ (Gulf Daily News - 27/08/2015)

Bahrain’s corporate earnings growth for the whole of this year is expected to be robust at six per cent, when compared with last year, according to a leading regional investment bank. In a report, the Kuwait Financial Centre said while UAE and Qatar are

Corporate governance to be probed at major forum (Gulf Daily News - 27/08/2015)

Bahrain-based General Council for Islamic Banks and Financial Institutions (CIBAFI), a global association of Islamic financial institutions, yesterday announced it is partnering the World Bank to co-organise an international conference in Jordan next

Sharjah Islamic Bank reveals its Online Promotion (AME Info - 27/08/2015)

As part of its drive to encourage more customers to utilize its online banking services, Sharjah Islamic Bank is set to launch a promotional campaign offering customers chances to win 20 iPad Air 2. The campaign, which lasts for three months till 25th

RAK Free Trade Zone targets new markets to increase investments (AME Info - 27/08/2015)

RAK Free Trade Zone revealed new plans to attract more investment, especially from Europe, Asia, America and Australia. The Free Zone announced a rise in the number of registered companies to 8,000 this year compared with 7,500 companies last year,

Bank Sohar holds Al Mumayaz Saving Scheme 21st weekly draw at Ibra (Oman Daily Observer - 27/08/2015)

Continuing with its year-long branch-wide tour, Bank Sohar conducted its most recent Al Mumayaz Savings Scheme Weekly Draw at its Ibra Branch on August 20. Continuing to offer more chances, more winners and more prizes for its customers as part of the

Oman mulls role in Belarus industrial park: Report (Oman Daily Observer - 27/08/2015)

The Sultanate is weighing the possibility of taking part in a joint Chinese-Belarusian industrial park initiative, dubbed ‘Great Stone’, according to a report in the Belarusian media on Tuesday. The publication of the report coincided with the start of

Norway’s DNO exits Oman Blocks 30 and 31 (Oman Daily Observer - 27/08/2015)

Norwegian oil and gas operator DNO International ASA has confirmed that it has pulled out of two oil and gas blocks in the Sultanate. The company said in its second quarter earnings report that it had withdrawn from Block 30 and Block 31 in northwestern

Recovery continues on Muscat bourse (Times of Oman - 27/08/2015)

As share prices on the Muscat bourse continued its recovery on Wednesday, MSM30 Index showed upward trend to close at 5,782.04 points, a gain of 0.38 per cent. The MSM Sharia Index remained unchanged at 908.16 points. Bank Muscat was the most active in

Orpic’s Sohar refinery project achieves safety milestone (Times of Oman - 27/08/2015)

Orpic has achieved 15 million man-hours without lost time injury at its Sohar refinery improvement project, with more than 6,500 people on site, working to a 2016 completion date. The milestone comes just days following the installation of Oman’s first

Islamic windows should become full subsidiaries: Bank Nizwa CEO (Times of Oman - 27/08/2015)

More full-fledged Islamic banks are needed and the Islamic banking services of conventional banks should be converted into full subsidiaries if Oman were to fully embrace the Islamic finance concept in its entirety, says a senior official at Bank Nizwa.

Saudi investors may have got what’s needed to hold rating (Gulf Times - 27/08/2015)

If investors were looking for a sign that Saudi Arabia is doing more than just pumping oil at a record pace to shore up its finances, they may have just got it. The world’s biggest crude exporter is seeking advice on how to cut billions of dollars from

Qatari bourse index gains 333.23 points (The Peninsula - 27/08/2015)

Qatari stocks recovered yesterday after two days of continuous slide prompted by a global trend. The benchmark index of the Qatari bourse regained 333.23 points, or 3.15 percent of lost ground, as it climbed back to 10,905.73. The market capitalization

Qatari investors to boost Turkey businesses (The Peninsula - 27/08/2015)

Turkish President Recep Tayyip Erdogan received a Qatari private sector delegation led by Sheikh Dr Khalid bin Thani Al Thani, Chairman of Ezdan Group Holding, at the presidential palace in Ankara. At the meeting, the Qatari private sector leaders and

ADIB offers rights issue through internet, mobile banking (Trade Arabia - 27/08/2015)

Abu Dhabi Islamic bank has started offering rights holders who are also its customers, the ability to subscribe to its rights issue through the ADIB internet banking portal and the ADIB mobile banking smartphone application. The offering, which is the

UAE bourses bounce back after crude oil prices rebound (The National - 27/08/2015)

Stock markets in the UAE and Saudi Arabia rebounded strongly yesterday after the mass sell- off early in the week, as investors reacted positively to a recovery in the price of crude oil. But analysts have warned that the volatility that has gripped

Pace of development shifts towards Dubai’s ‘south’ (Gulfnews - 27/08/2015)

Down ‘south’ is where Dubai’s real estate development is starting to see some real activity. And the ripple effect is being felt by property developments and communities falling within its radius of influence. If the pace of build-up continues in the

Adnoc hailed at World Brand Congress (Khaleej Times - 27/08/2015)

Adnoc Distribution has bagged the title of Asia's 'Most Influential Chief Marketing Officer' at the World Brand Congress Awards 2015 held in Singapore. The award was received by Khalid Hadi, vice-president of Marketing and Corporate Communications at

Acquisitions and mandatory insurance ups NMC's profits (Khaleej Times - 27/08/2015)

NMC Health plc profit rose 41 per cent year-on-year to $58 million in the first six months of the year, on stronger revenues from new acquisitions. The London listed healthcare company reported revenues growing by 25.3 per cent year-on-year to $393.8

KSE Climbs 19.18 Pts Amid Volatile Trading (Arab Times - 27/08/2015)

Kuwait stocks staged a modest rebound on Tuesday, stemming the 7-day plunge which wiped 466 pts off the main index triggered by massive sell-off in global markets and falling crude oil prices. The bourse climbed 19.18 pts in volatile trade to 5834.78 pts

Record growth at Abu Dhabi International Airport (The Gulf Today - 27/08/2015)

July was a record breaking month for passenger figures at Abu Dhabi International Airport. Not only did the total number of passengers travelling through the airport hit the two million mark for the first time ever, but the figure for departing

Chinese firm to finance Pakistan’s power projects (The Gulf Today - 27/08/2015)

Pakistan has offered for financing seven to eight hydroelectric power projects on the upper Indus basin to China Three Gorges Corporation, which is willing to participate in a consortium to fund up to $50 billion worth of schemes in the energy-starved

Saudi hydrocarbon sector’s investment outlook improves: BOI (Saudi Gazette - 27/08/2015)

Outlook for investment in business expansion has weakened for the non-hydrocarbon sector, but has improved for the hydrocarbon sector in the third quarter of 2015, the Saudi Business Optimism Index (BOI) for Q3 of 2015 survey released by the National

Mobily exceeds 6m subscribers and followers across social media (Saudi Gazette - 27/08/2015)

MOBILY, a leading provider of innovative communications services, has exceeded more than 6 million subscribers and followers across its social network platforms. The company’s extensive profile on social media includes more than 2 million followers on

GCC corporate earnings fall 7% in first half (Saudi Gazette - 27/08/2015)

The GCC countries’ corporate sector recorded a 7.2 percent fall in earnings at $34 billion in the first half of 2015, against the same period last year, Kuwait Financial Centre (Markaz) report said. However, the performance of banks and real estate

TASI surges; dollar peg ‘serves economy well’ (Arab News - 27/08/2015)

The Saudi riyal will remain pegged to the US dollar as it has served the economy well, said the Saudi Arabian Monetary Agency (SAMA) on Tuesday. “The Kingdom is committed to keeping the riyal pegged to the dollar,” Ahmed Abdulkarim Alkholifey, deputy

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