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Saudi's NCB Q2 net profit flat, operating income down (Reuters - 23/07/2017)

Saudi Arabia's National Commercial Bank (NCB), the kingdom's largest lender, reported a 0.9 percent dip in second-quarter net profit on Sunday as a drop in operating expenses was offset by lower operating income. The bank made a net profit of 2.42

Arabian Pipes Co. announces the Appointment of new CEO (Tadawul - 23/07/2017)

Arabian Pipes Co. announces that the Board of Directors accepted during their meeting today 23 Jul 2017 that appointment of Eng. Ahmed Ali Al-Lohaidan as CEO starting from 24-07-2017 It's worth mentioning that Eng. Ahmad Al-Lohaidan holds a a bachelor's

Deyaar announces H1 2017 revenues of AED 316 million (Press Release - 23/07/2017)

Deyaar Development PJSC, one of the UAE’s leading property development and real estate services companies, today announced its financial results for the first half of 2017. Deyaar reported %135 year-on-year increase in revenues to AED 316.4 million [H1

Burgan Bank's H1 net income up 24pc (Trade Arabia - 23/07/2017)

Kuwait-based Burgan Bank Group has registered a 24 per cent jump in its net income for the first half of 2017 which soared to KD39 million ($128 million) from last year's KD31.4 million ($103.5 million). Announcing the earnings for the first six months,

Kuwait's trade surplus with Japan up 46pc (Trade Arabia - 23/07/2017)

Kuwait's trade surplus with Japan expanded by 46.1 per cent from a year earlier to 25.6 billion yen ($228 million) in July, up for the sixth month in a row, thanks to brisk exports, said state news agency Wam citing data from Japanese Finance Ministry.

Batelco CEO in Top 100 Arab businesswomen list (Trade Arabia - 23/07/2017)

Leading telecom services provider Batelco said its Bahrain CEO Muna Al Hashemi has made it to the Forbes Middle East 100 Most Powerful Arab Business Women List for the second consecutive year. Al Hashemi has been ranked 16th in the Forbes List in

Technical analysis of the QSE index (Gulf Times - 23/07/2017)

The QSE index rose 0.8% during the week to a level of 9,542.28. A hammer candlestick has been observed in the weekly chart which resulted, the index to cross the five day EMA level and is expected to rise further in the near future. Stochastics and RSI

MSM 30 Index slips below 5,000-mark (Times of Oman - 23/07/2017)

Shares on the Muscat Securities Market continued its decline with the MSM 30 Index – the general barometer of market sentiment – slipping below its psychological mark of 5,000 points on Thursday. The market sentiment remained weak on announcements of

UAE markets may see short-term pressure (Gulfnews - 23/07/2017)

Last week the Dubai Financial Market General Index (DFMGI) advanced by 37.90 or 1.07 per cent to end at 3,575.32. There was positive market breadth, with 22 advancing issues and 15 declining, while volume reached a five-week high. The DFMGI managed to

Saudi Arabia curtails crude flow to United States (Times of Oman - 23/07/2017)

Saudi Arabia is making good on promises to curtail oil shipments to the United States with the likely intention to drain visible inventories and support prices. The United States imported an average of 524,000 barrels per day (bpd) of crude from Saudi

Oman's budget deficit for first five months falls 20 per cent (Oman Daily Observer - 23/07/2017)

A recovery in crude oil prices and prudent economic policies of the Oman government have resulted in a marked drop in the country’s budget deficit for the first five months of this year. The Sultanate’s budget deficit for the January to May period of

Work on PDO’s Yibal Khuff mega project gathers momentum (Oman Daily Observer - 23/07/2017)

Construction work on the Yibal Khuff mega project of Petroleum Development Oman (PDO) is now well past the 40 per cent mark, according to UK-based Petrofac, the main engineering contractor engaged by the majority government-owned national oil and gas

Microsoft profit rises on shift to cloud computing (Oman Daily Observer - 23/07/2017)

Microsoft reported that its quarterly earnings was lifted on the back of its shift to focusing on computing services hosted in the Internet cloud. The US technology giant said it made a profit of $6.5 billion in the recently ended quarter as revenue rose

Dollar slide puts gold on track for biggest weekly rise in two month (Gulfnews - 23/07/2017)

Gold was set for its biggest weekly gain in two months on Friday as a surging euro pushed the dollar to its weakest since June 2016, making bullion cheaper for holders of other currencies. Bond yields also fell after Mario Draghi said on Thursday the

Dollar falls on perceived ECB path (The Peninsula - 23/07/2017)

The U S dollar hit its lowest level in more than a year against a basket of major rivals on Friday a day after the European Central Bank’s chief abstained from talking down the euro, while obstacles to U S President Donald Trump’s policy agenda also

GWC posts solid QR105.3m net profit (The Peninsula - 23/07/2017)

GWC, Qatar’s leading logistics provider, concluded its first half of 2017 recording a net profit of QR 105.3m, up 4 percent when compared to QR101.3m posted during the same period in 2016. This came about due to the company’s judicious leverage of its

Oil dives about 2.5%; Opec crude output rise forecast (Gulfnews - 23/07/2017)

Oil prices slid on Friday, settling about 2.5 per cent lower after a consultancy forecast a rise in Opec production for July despite the group’s pledge to curb output, reigniting concerns the global market will stay awash with crude. Benchmark Brent

The UAE shows how to do it in competitiveness rankings (Gulfnews - 23/07/2017)

The UAE economy continues the trend of getting an outstanding recognition on the global stage, as illustrated in the diverse indexes and reports offering comparisons of countries on various variables and factors. Recently, the UAE clinched the third spot

UBF launches initiative to handle customer complaints (Gulfnews - 23/07/2017)

The UAE Banks Federation (UBF) has announced it will build a unified framework to handle customer complaints. The UAE Central Bank has approved the initiative, the UBF said in a statement. The UBF is a professional body representing 48 member banks

ADB sees improved growth prospects in Asia (The Gulf Today - 23/07/2017)

The economic growth prospects for development in Asia in 2017 have improved on the back of stronger-than-expected export demand in the first quarter of the year, according to a new report from the Asian Development Bank, ADB. In a supplement to its

Saudi gift of $1.5b to Pakistan will cut budget deficit (The Gulf Today - 23/07/2017)

Saudi Arabia’s gift of $1.5 billion to Pakistan as capital receipts in shape of grant in aid has been parked in the Pakistan Development Fund (PDF), which has now been used in fiscal 2016-17 for acquiring shares of two power projects; Rs64 billion has

MENA needs $200b investment in renewable sector in short term (Saudi Gazette - 23/07/2017)

The Middle East and North Africa (MENA) region is embarking on an unprecedented program to develop renewable energy, with more than 67GW of clean energy projects at various stages of the design and study stage, according to Renewable Energy in the Mena

DGCX and DCCC get regulatory recognition (Saudi Gazette - 23/07/2017)

The Dubai Gold and Commodities Exchange (DGCX) and its CCP subsidiary, Dubai Commodities Clearing Corporation (DCCC) has been recognized as a remote Exchange and Clearing House by the Financial Services Regulatory Authority (FSRA), the regulatory

Dubai faces undersupply in some property sectors (Saudi Gazette - 23/07/2017)

A UAE real estate expert says “phobic” perceptions of an over-supplied Dubai residential property market persist when there is currently an under-supply of premier homes that will be ready for occupancy in some areas next year. Firas Al Msaddi, CEO of

SEC continuously supports Souq Okaz (Saudi Gazette - 23/07/2017)

UNDER the patronage of the Custodian of the Two Holy Mosques King Salman Bin Abdulaziz Al-Saud, the Saudi Electricity Company (SEC) is participating in "Souq Okaz" festival at its 11th session in 2017, which kicked off on Wednesday in Taif, in the

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