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SICO retains top broker status on stock exchange (Gulf Daily News - 11/02/2016)

Securities & Investment Company (Sico), licensed by the Central Bank of Bahrain as a conventional wholesale bank, announced it has retained its status as the leading broker on the Bahrain Bourse (BHB) for the 17th consecutive year. The firm said last

Bahraini firms urged to focus on innovation (Gulf Daily News - 11/02/2016)

Bahraini firms need to innovate to retain their competitive advantage, according to Industry, Commerce and Tourism Ministry Under-Secretary for industrial affairs Osama Al Arrayed. “Innovation is about exploiting creativity in business, which can be in

Bahrain offers the region’s lowest operating costs for the financial (CPI Financial - 11/02/2016)

Financial sub-sectors that require higher numbers of educated, bilingual employees, such as ancillary services for the insurance, asset management and Islamic finance sectors, are particularly well placed to benefit. Bahrain offers higher value manpower

Omani firm inks mining deal with Rwanda (Oman Daily Observer - 11/02/2016)

Rwanda-based Tri Metals Mining Limited, a subsidiary of Mawarid Mining LLC, a wholly-owned subsidiary of MB Holding Company LLC registered in the Sultanate of Oman, has signed three large-scale mining agreements with the Rwandan government to undertake

Automated storage system can boost efficiency: Experts (Times of Oman - 11/02/2016)

Automation of storage facilities can help enhance productivity and efficiency but certain requirements need to be met, such as training of staff and proper maintenance, said experts at a conference in Muscat. Various aspects of using technology in

Duqm authority signs OMR55m deal for government berth infrastructure (Times of Oman - 11/02/2016)

Oman’s Special Economic Zone Authority in Duqm (Sezad) on Wednesday signed an agreement with Combined Group Contracting Company to build infrastructure facilities for government berth at the port. The total project cost is estimated at OMR55.4 million

Yen surges as global market rout extends ahead of Yellen testimony (The Peninsula - 11/02/2016)

The Japanese yen extended gains against the dollar and the euro on Wednesday as nervous investors fled to safe investments with equity markets plunging on concerns about the global economy. With volatility returning to bourses around the world,

Ooredoo supports WEF’s gender gap report (The Peninsula - 11/02/2016)

The Fourth Industrial Revolution will have a disproportionately negative impact on the economic prospects of women, although the emphasis on talent brought about by sweeping changes caused by disruptions to the labour force will result in more women

Qatar’s hospitality sector to see major growth this year (The Peninsula - 11/02/2016)

Qatar’s hospitality sector is expected to see total count of room keys rising to 23,000 by the end of current year, registering a growth of 27 percent. “By the end of 2016, the total supply will be around 23,000 hotel and service apartment keys. At the

Omantel scraps $130m dual-currency sukuk (Trade Arabia - 11/02/2016)

Oman Telecommunications Co (Omantel) scrapped plans for a $130 million, five-year dual-currency sukuk issue because the interest rates offered by lenders were too high, the company's chief executive said. Last month, the state-run company priced the

UAE's food firm Agthia eyes $1bn revenue by 2020 (Trade Arabia - 11/02/2016)

Abu Dhabi-listed food and drinks firm Agthia Group is aiming to double revenues by 2020 through organic growth and acquisitions, its chief executive said on Wednesday. Agthia reported on Tuesday it made a net profit of Dh231 million ($63 million) last

RAK Properties profit up 2.7% to Dh160 million in 2015 (The National - 11/02/2016)

Net profit at RAK Properties, the developer backed by the Ras Al Khaimah government, increased by 2.7 per cent last year. The Abu Dhabi-listed company on Wednesday posted a net profit of Dh160 million for 2015, up from Dh155.7m the previous year as it

Drug manufacturing to increase in UAE (The National - 11/02/2016)

The number of pharmaceutical manufacturing plants in the UAE is expected to more than double in the next five years to 34 from 16 currently as part of economic diversification efforts, a leading official said yesterday. Amin Al Amiri, the assistant

India set to ramp up oil imports from UAE (Gulfnews - 11/02/2016)

India is looking at the UAE as a preferred partner for hydrocarbon projects across the country as part of the $75 billion infrastructure investment fund both nations announced last year, even as it plans to ramp up its crude imports from the UAE by 15

Ignoring tumbling oil, Abu Dhabi index jumps 1% (Gulfnews - 11/02/2016)

Ignoring an 8 per cent fall in crude oil prices, the Abu Dhabi index jumped more than a per cent on Wednesday on buying activity in specific banking stocks. The Abu Dhabi Securities General index closed 1.05 per cent higher at 4,104.53, and the index

Abu Dhabi’s residential market to slow down in 2016 (Gulfnews - 11/02/2016)

Abu Dhabi’s residential property market is expected to see a slowdown in demand in the next 12 months, after relatively slow but positive market performance in 2015. However, this may not lead to a major drop in rental rates due to the limited amount of

Finance House posts robust growth (Khaleej Times - 11/02/2016)

Finance House reported a robust growth of 36.3 per cent year-on-year in income from net interest and Islamic finance in 2015 to Dh198 million. However, Finance House's consolidated net profit at the group level of dropped to Dh61.7 million from Dh73.3

KSE slides 45.48 pts amid drop in volume – NBK slips 10 fils; (Arab Times - 11/02/2016)

Kuwait stocks veered south on Tuesday extending snapping the three-day gains tracking weakness in regional and global markets. The bourse slid 45.48 pts to 5,163.8 points weighed by selling in select counters led by some of the heavyweights even as

Yellen warns of risks to US economy (The Gulf Today - 11/02/2016)

Federal Reserve Chair Janet Yellen warned Wednesday that the US economy faced risks from tightening domestic financial conditions as well as global economic turmoil. Expressing concerns that were not nearly as pronounced the last time she spoke publicly

DCCI urges firms to tap Silk Road opportunities (The Gulf Today - 11/02/2016)

As part of its preparation for the first Commonwealth of Independent States Global Business Forum, CIS GBF 2016, in Dubai next week, the Dubai Chamber of Commerce and Industry, DCCI, has launched a special report, ‘Tapping the Silk Road Opportunities’,

Saudi tourism market valued at $45.3b banking on GCC visitors (Saudi Gazette - 11/02/2016)

Saudi Arabia remains a popular destination for GCC tourists, with around 7.4 million visitors entering the Kingdom in the first six months of 2015, which represented an increase of 25% against the same period in 2014, according to official data from the

Program crafted to employ Saudi youth in hospitality (Saudi Gazette - 11/02/2016)

Corporate Social Responsibility (CSR) programs are one of the main concerns of Al Mathaaq Hospitality. To strengthen its position as an effective and responsible member of the community, Al Mathaaq Hospitality has launched a program in partnership with

Mobily signs agreement to support ‘#Ana Musharek’ (Saudi Gazette - 11/02/2016)

Under the patronage of Prince Sultan Bin Salman Bin Abdulaziz, the Chairman of Disabled Children’s Association and in the presence of Dr. Abdulaziz bin Salem Al Ruwais, the Governor of CITC, Etihad Etisalat Mobily has signed a cooperation agreement with

Saudi telcos working on towers JV (Saudi Gazette - 11/02/2016)

Three Saudi Arabian telecoms operators are working on a plan to spin off their mobile towers assets into a separate company, according to media reports. Saudi Telecom Company (STC), Mobily and Zain are holding discussions on the project, Reuters reported

Emaar Properties net profit up 18% at $1.19b (Saudi Gazette - 11/02/2016)

Global developer Emaar Properties PJSC recorded full-year 2015 net operating profit of AED4.383 billion ($1.193 billion), 18 percent higher than the FY2014 net operating profit of AED3.724 billion ($1.014 billion). Emaar achieved full-year 2015 revenue

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