News Archive
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Bank Muscat ‘Ramadhan Al Khair’ programmes gain momentum (Oman Daily Observer - 28/06/2016)

The month-long Ramadhan events organised by Bank Muscat, the flagship financial services provider in the Sultanate, under the banner of ‘Ramadhan Al Khair’ to benefit different segments of society has gained momentum. In a unique gesture, the bank

World Economic Forum names GlassPoint Solar Technology Pioneer’ for 16 (Times of Oman - 28/06/2016)

GlassPoint Solar, the leading supplier of solar energy to the oil and gas industry, announced on Monday it has been named as one of the World Economic Forum’s (WEF’s) Technology Pioneers, a selection of the world’s most innovative companies. GlassPoint

Oman shares remain stable, index rises marginally (Times of Oman - 28/06/2016)

The MSM30 Index remained stable at 5,763.82 points, up marginally by 0.03 per cent. The MSM Sharia Index ended flat at 879.15 points, down 0.01 per cent. Al Batinah Power was the most active in terms of volume and turnover. Monday’s top gainer was Galfar

Masraf Al Rayan holds second EGM (Gulf Times - 28/06/2016)

Masraf Al Rayan held its second extraordinary general assembly meeting on Sunday during which the bank’s shareholders approved some resolutions. The bank’s EGM approved the amendments introduced to the Articles of Association, which is authenticated

Qatar exports up 13.4% m-o-m to QR17bn in May (Gulf Times - 28/06/2016)

Qatar has registered a 13.4% growth month-on-month on total exports of goods, which amounted to QR17bn in May, according to the Ministry of Development Planning and Statistics (MDPS). The total exports of goods include exports of goods of domestic origin

Brexit to create ‘more business opportunities’ for Qatar (The Peninsula - 28/06/2016)

Britain’s decision to leave the European Union (EU) has caused adverse impact on stock markets globally, but experts suggest that it may not be “necessarily bad” for the Qatari economy as it will create more opportunities for trade and investments for

Emirates NBD app links to Smart Dubai Happiness meter (Trade Arabia - 28/06/2016)

Emirates NBD, a leading banking group in the region, recently announced the linking of its mobile banking app to the Dubai government’s Smart Dubai Happiness Meter. The Smart Dubai Happiness Meter is a scientific approach to measuring happiness. Emirates

Bahrain Duty Free plans $15.8m expansion (Trade Arabia - 28/06/2016)

Bahrain Duty Free Shop Complex plans to make an investment of BD6 million ($15.8 million) for a nearly three-fold expansion of its footprint at Bahrain International Airport (BIA), reported the Gulf Daily News, our sister publication.

GCC online ad spend set to top global average (Trade Arabia - 28/06/2016)

Internet advertising spend in the GCC is poised to grow faster than the world average in the next five years and is set to register a growth of 25 per cent this year, according to a new market research report. Increased Internet penetration in the Arab

Emaar awards Dh1bn contract for Phase 2 of Mira townhouses in Dubai (Emirates 24|7 - 28/06/2016)

Dubai-based master developer Emaar Properties has awarded a Dh1 billion contract for building almost 1,400 townhouses to the Abu Dhabi-based Trojan General Contracting (TGC), the latter said in a media statement today. The contract covers the

UAE credit bureau’s subscriber base doubled in 2015 (Gulfnews - 28/06/2016)

The number of institutions using the services of Al Etihad Credit Bureau (AECB) doubled during 2015, with a significant increase in credit data enquiries also being noted. “The number of subscribers with Al Etihad Credit Bureau doubled in 2015 to reach a

Crescent and Dana sees $11b Kurdish gas claim resolved this year (Gulfnews - 28/06/2016)

Crescent Petroleum Co, an oil and natural gas producer from Egypt to the UAE, expects by the end of this year to resolve an $11 billion (Dh40.4 billion) arbitration case against the Kurdistan Regional Government in Iraq. The Sharjah-based company is

UAE indices up less than 1% after Sunday plunge (Gulfnews - 28/06/2016)

Equity markets in the GCC showed some recovery on Monday as bargain-hunters started buying on the dips following the plunge seen on Sunday on the back of the Brexit. In the UAE, the Dubai Financial Market (DFM) index ended 0.85 per cent higher at

Mashreq appoints ACC to build new Downtown Dubai headquarters (The National - 28/06/2016)

The Dubai-based bank Mashreq has appointed Arabian Construction Company (ACC) to build its new headquarters building in Downtown Dubai. Mashreq will relocate from its current base near the Al Ghurair Centre in Deira to the new site at the junction of

Brexit: UAE expats rush to send money home (Gulfnews - 28/06/2016)

UAE exchange houses have witnessed a spike in the volume of remittances from the UAE to the United Kingdom since the Brexit vote on Friday that sent the sterling falling to a 31-year low. The British currency sank to $1.3230 on Friday, the lowest level

IIF more bullish on UAE growth (Khaleej Times - 28/06/2016)

Forecasting a more bullish outlook than the latest projections made the World Bank for the UAE, the International Institute of Finance, or IIF, has reported that the nation's economy would grow three per cent in 2016. Data from the Washington-based IIF

DP World lists $1.2b sukuk on Nasdaq Dubai (Khaleej Times - 28/06/2016)

Sultan Ahmed bin Sulayem, Group Chairman and CEO of global trade enabler DP World, rang the market-opening bell on Monday to celebrate the listing on Nasdaq Dubai of a $1.2 billion sukuk. The listing by DP World reinforces Dubai's status as the global

Afkar Capital launches first UAE exchange traded fund (The Gulf Today - 28/06/2016)

Afkar Capital Limited, the Abu Dhabi-based asset management firm, has launched the Afkar S&P UAE UCITS ETF, the first liquid, fully fungible, fully tradeable and transparent exchange-traded fund listed in the Middle East under the UAE’s new regulations.

UAE’s markets are well-controlled: MoE (The Gulf Today - 28/06/2016)

The Ministry of Economy (MoE) on Monday affirmed that all of the UAE’s markets are well-controlled, and that the Ministry will continue its declared and surprise inspections. Dr Hashim Saeed Al Nuaimi, Director of the Ministry’s Consumer Protection

YIACO Medical announces new partnership with Nihon Kohden (Arab Times - 28/06/2016)

In line with its continued commitment to improving the overall quality of healthcare in the country, YIACO Medical Company, one of the leading healthcare networks in Kuwait, announced its recent partnership with Nihon Kohden, the leading manufacturer of

KSE index rebounds as volume picks up – NBK rises 10 fils; (Arab Times - 28/06/2016)

Kuwait stocks saw a solid rebound on Monday after suffering big losses in the previous session on the backdrop of Britain’s vote to leave the European Union. The price index rose 18.22 pts to close at 5,366.14 pts helped by speculative buying in select

Kuwait’s finance min expresses confidence in UK investments (Arab Times - 28/06/2016)

Kuwaiti Finance Minister Anas Al-Saleh said on Monday that the Gulf Arab kingdom’s investments in Britain were “high-quality and long-term”, state news agency KUNA reported. His message was delivered to a Cabinet meeting which discussed the impact on

DAMAC bags 25 contracts worth AED3 billion in first half of 2016 (Saudi Gazette - 28/06/2016)

DAMAC Properties announced Sunday that it awarded 25 construction and consultancy contracts worth AED3 billion in the first half of 2016. Contract awarded include the main packages for more than 2,678 villas within its luxury lifestyle community; AKOYA

Jeddah to host 4th Saudi Trade Finance Summit (Saudi Gazette - 28/06/2016)

The upcoming 4thAnnual Saudi Trade Finance (STF) Summit, organized by Dubai-based QnA International has cemented its position as the premier gathering to discuss financial regulations, strategies and services development and trends shaping the economy

Investcorp agrees to buy Coresec Systems (Saudi Gazette - 28/06/2016)

Investcorp, a global provider and manager of alternative investment products, together with its portfolio company SecureLink Group NV, announced on Monday an agreement to acquire one of Scandinavia’s largest managed cyber security ?service providers,

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