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Dallah Health announces signing of contract costing SAR 334 million (Tadawul - 25/05/2016)

Dallah Healthcare Holding Company announces the signing of a contract for mechanical, electrical work and plumbing of phase one for Dallah Hospital, Namar, southwest of Riyadh on 24/05/2015G. (corresponding to17/08/1437H) as follow: 1- The contract value

Saudi Cement announces cash dividends for 1st Half 2016 (Tadawul - 25/05/2016)

The Board of Directors of Saudi Cement Company has resolved during its meeting held on 24/05/2016 (17/08/1437), to distribute interim dividends to the shareholders for the period first half of 2016 as following: 1.Total amount of distribution of dividend

Batelco quits Malta GO stake deal talks (Trade Arabia - 25/05/2016)

Bahrain Telecommunications Co (Batelco) is no longer in talks to buy Maltese telecoms company GO, the Bahraini firm said on Tuesday. Last week, Batelco announced it had submitted a bid for GO, which is 60 per cent owned by Emirates International

NBK - Egypt reports $20.96m Q1 profit (Trade Arabia - 25/05/2016)

National Bank of Kuwait-Egypt (NBK-E) reported net profits of EGP186.6 million ($20.96 million) for the first quarter of 2016 compared with EGP126.3 million for the same period in 2015, growing at 47.7 per cent year-on-year. Total assets as of end-March

Dubai Holding unveils $272m waterfront development (Trade Arabia - 25/05/2016)

Dubai Holding, a leading investment holding company, has announced the launch of its new waterfront destination, 'Marasi Business Bay,' to be developed along the creek within Business Bay destination at an estimated cost of Dh1 billion ($272 million). A

Dubai's Noor Bank launches $500m sukuk at 6.25% (Emirates 24|7 - 25/05/2016)

Dubai-based Noor Bank has launched a $500 million capital-boosting sukuk issue of five years duration that will price later on Tuesday, a document from lead managers showed. Pricing for the transaction, which has a perpetual tenor and an option for the

Shares of Dubai’s Shuaa jump on stake sale hopes (The National - 25/05/2016)

Shares in the UAE rose for the second day in a row, as European stocks began to shrug off the prospect of a rise in US interest rates. The Euro Stoxx 50 was trading about 1.67 per cent higher yesterday afternoon, in spite of Brent futures falling to

Indonesia opens new sectors to foreign investment (Gulfnews - 25/05/2016)

Indonesia has opened a string of new sectors to foreign businesses to attract more investment and help pull Southeast Asia’s biggest economy out of a slowdown, an official said Tuesday. Restrictions have been eased on investing in host of industries

DFM jumps nearly 1% as DIB helps ahead of rights (Gulfnews - 25/05/2016)

Dubai Islamic Bank (DIB) and Arabtec propelled the Dubai index higher on Tuesday. Saudi Arabia’s Tadawul All Share Index (Tasi) gained some ground after 3 per cent fall. The Dubai Financial Market General Index (DFMGI) closed nearly 1 per cent higher at

Abu Dhabi inflation rate up 3% (Gulfnews - 25/05/2016)

Average consumer prices in Abu Dhabi rose three per cent in the first four months of this year compared to the same period in 2015, according to the Statistics Centre Abu Dhabi (Scad). In April alone, the consumer price index rose 2.4 per cent compared

Emirates NBD Bank hold lunch banquet in honour of senior shareholder (Gulfnews - 25/05/2016)

Emirates NBD Bank yesterday held a lunch banquet in honour of its senior shareholders at its main office. The banquet was hosted at the invitation of Shaikh Ahmad Bin Saeed Al Maktoum, board chairman of the bank, who was in attendance. The event was

Letter of credit important in trade in Dubai (Khaleej Times - 25/05/2016)

The trade establishment complaints section at the Department of Economic Development-Dubai (DED) often receives complaints after deals are entered into between dealers. In most cases, a trader enters into a deal with another trader to purchase a certain

Consumer-friendly index key to success in Dubai (Khaleej Times - 25/05/2016)

Trade establishments always endeavour to provide the best services and distinctively excel in showcasing the best products with the aim of gaining customer satisfaction, said Adel Al Hilou, consumer protection expert at the DED. "We at the Commercial

Warba Bank concludes Ziraat Bank’s finance deal (Arab Times - 25/05/2016)

Warba Bank announced on Monday that a Sharia-compliant finance deal, worth $155 million, was carried out in favor of Turkey’s Ziraat Bank. Warba Bank’s CEO Shahin Al-Ghanim said in a press statement that the deal was initially valued at $75 million, and

Kuwait bourse edges lower in ‘tepid’ trade–NBK drops 10 fils;Americana (Arab Times - 25/05/2016)

Kuwait stocks inched lower on Tuesday extending the losses to fourth straight session. The price index eased 2.53 pts to 5,314.5 points in lackluster trade even as sentiment remained downbeat on weak oil prices. The KSX 15 dropped 4.94 points to 824.9

UAE a global destination for trade, says minister (The Gulf Today - 25/05/2016)

The UAE has long been recogniseed as a globally important hub for trade. For centuries, our great nation has been a trading post on the busy silk and spice routes from China in the East to the West. This was revealed by Sultan bin Saeed Al Mansouri, UAE

Major contracts sealed at Saudi Health Expo 2016 (Saudi Gazette - 25/05/2016)

The Saudi Health Exhibition 2016 was successfully concluded with a total of 23,000 unique visitors. The 4th edition of the Saudi Health exhibition and Conference 2016 was successfully concluded after receiving heavy flows of decision-makers in

Saudi-Egyptian alliance on $3.6 billion property project (Saudi Gazette - 25/05/2016)

The $3.6 billion Mountain View iCity has been announced, Egypt’s biggest upcoming project that is a joint venture between the Egyptian Mountain View and Saudi Sisban Holding. The venture has been billed as a boost to investment relations between the two

Etisalat opens kiosk at Abu Dhabi International Airport (Saudi Gazette - 25/05/2016)

Etisalat, one of the Middle East’s leading telecommunications operators, has opened a 24/7 kiosk in the Arrivals Hall at Abu Dhabi International Airport (AUH). Passengers landing in the UAE’s capital will be able to buy a local Etisalat SIM card from the

VAT could affect property developer in Saudi Arabia (Saudi Gazette - 25/05/2016)

In established VAT regimes, transactions involving the sale and lease of commercial properties are subject to VAT while the sale or lease of residential property may generally be considered as either as a VAT-Zero rated or VAT-Exempt supply. For

Majority of GCC residents favor alternative payments (Saudi Gazette - 25/05/2016)

Seventy seven percent of citizens across the GCC would opt for alternatives to cash and card payments, should they be available in their country, the latest YouGov survey commissioned by Cards & Payments Middle East, the region’s number one conference

Vision 2030 repositions KSA in the 21st century (Saudi Gazette - 25/05/2016)

Saudi Arabia’s Deputy Crown Prince Mohammed Bin Salman has an ambitious plan for the kingdom to overcome its reliance on oil and integrate its economy and markets on a global scale, in a bid to attract more foreign investors. While there may be some

Gold hits 4-week low (Arab News - 25/05/2016)

Gold fell to a four-week low on Tuesday as hawkish comments from US Federal Reserve officials in the previous session sent the dollar to a two-month high against a currency basket. Silver was down 0.6 percent at $16.31 an ounce, after earlier hitting a

Chinese investors to build industrial city in Oman (Arab News - 25/05/2016)

Chinese investors signed a deal Monday with Oman’s government to build an industrial city, including an oil refinery, in the southern port town of Duqm, a joint statement said. The deal would pave the way for investments worth $10.7 billion by 2022 to

Alwaleed and Chinese PM discuss investments (Arab News - 25/05/2016)

Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), visited Beijing and met Li Keqiang, prime minister of China and Wang Yi, mnister of foreign affairs. Sarmad Zok, member of KHC’s board of directors and chairman and CEO of Kingdom

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