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Bank of Sharjah announces financial results for the first half of 2014 (Press Release - 24/07/2014)

Bank of Sharjah today announced its financial results for the six months ending June 30, 2014. The bank’s net profit for the first half of 2014 increased by 6% to reach AED 152 million, compared with AED 144 million for the same period of 2013. During

Agthia profit surges 21pc in H1 (Trade Arabia - 24/07/2014)

Agthia Group, one of the UAE’s leading food and beverage groups, has reported a net profit of Dh104.5 million (28.45 million) for the first half of 2014, an increase of 21 percent year-on-year driven primarily by higher sales and an overall improvement

Nakheel lines up a world of DSS entertainment and prizes Ibn Battuta (AME Info - 24/07/2014)

Nakheel is gearing up for its busiest season on record at its flagship Ibn Battuta Mall, where a world of entertainment, promotions and prizes awaits visitors throughout Dubai Summer Surprises 2014. Nakheel is sponsoring this year’s DSS – from 2 August

BNH net profit surges 23.2pc to $6.15m (Trade Arabia - 24/07/2014)

Bahrain National Holding (BNH) has reported 23.2 per cent rise in consolidated net profit at BD2.34 million ($6.15 million) for the six months ended June 30 when compared with BD1.9 million for the same period last year. BNH is the parent of Bahrain

Saudi Arabia to emerge as the seventh largest emerging capital market (CPI Financial - 24/07/2014)

Driven by accelerating growth in capital raising activities over the next one-and-a-half decades, emerging nation capital markets are expected to capture a more proportionate share of the global capital market universe relative to their economies,

SPF Realty hosts grand Iftar party bash (AME Info - 24/07/2014)

SPF Realty, leading real estate service provider in UAE, has hosted its annual corporate Iftar gathering in Dubai in celebration of the spirit of the Holy Month of Ramadan. The grand Iftar party bash was organised at Al Falak Ballroom in Bur Al Arab, as

Bahrain insurance premiums grow 8pc (Trade Arabia - 24/07/2014)

Bahrain insurance market has posted a gross premium increase of eight per cent to register BD258.41 million ($681.7 million) last year, compared to the previous year, according to the Central Bank of Bahrain. Motor insurance attributed a significant part

AFS launches three new products and services (CPI Financial - 24/07/2014)

Arab Financial Services has announced the formal launch of three new products that will be offered to all their member banks. These products will improve the current value proposition that the member banks can offer their customers. The first product is

Saudi state fund plans housing firms (Reuters - 24/07/2014)

Saudi Arabia's Public Investment Fund (PIF) aims to establish companies in areas including housing, petrochemicals and technology as it expands its investments locally and overseas, Finance Minister Ibrahim Al-Assaf said. His statement, quoted on

Kuwait invests KD4.6bn in green fuel project (AME Info - 24/07/2014)

Kuwait is investing more than $17bn (KD4.6bn) to develop oil refineries, as part of the “environmental fuel” project to be launched in 2018, Kuna has reported. The project, which kicked off last April, aims at developing Mina Al-Ahmadi and Mina Abdullah

Dubai Islamic Bank H1 2014 net profit up by 81 per cent to AED 1,337 m (CPI Financial - 24/07/2014)

Total revenue for H1 2014 increased to AED 3,056 million from AED 2,714 million in H1 2013, an increase of 12.6 per cent. The increase is mainly due to robust growth in investing and financing activities in both corporate and consumer businesses by 18

Bidding for Abu Dhabi’s onshore oil fields starts (AME Info - 24/07/2014)

Bids have been placed by major global energy players for stakes in Abu Dhabi’s onshore oil fields, capable of producing 1.6 million barrels per day. Based on previous partnerships, Royal Dutch Shell, BP and Total have already submitted bids to gain a

Seef Properties registers $9.1m net profit (Trade Arabia - 24/07/2014)

Seef Properties has reported a 3.4 per cent increase in net profit at BD3.42 million ($9.06 million) for the first half of the year when compared with BD3.31 million for the same period last year. The gross rental income for the year to-date was BD4.62

Ahli Bank of Oman reports H1 profits up five per cent at OMR 13.1 mill (CPI Financial - 24/07/2014)

Ahli Bank saw profits rise from OMR 12.5 million in H1 2013 to OMR 13.1 million in H1 2014. Over the same period operating income rose four per cent to OMR 25.3 million. The bank’s customer deposits have grown by eight per cent to OMR 996 million while

Ooredoo posts 11pc Q2 profit drop (Reuters - 24/07/2014)

Qatari telecom operator Ooredoo reported a 11 percent drop in second-quarter profit on Wednesday. The former monopoly, which operates in about 15 countries across the Middle East, Africa and Asia, made a net profit of 817 million riyals ($224.4 million)

Bank Sohar net profit soars by 35.13% in Q2 2014 (AME Info - 24/07/2014)

Bank Sohar announced its financial results for the second quarter ended June 30, 2014. The bank’s net profit soared by 35.13% to OR16.153m in Q2 2014 compared to 11.954m in Q2 2013. The Net Interest Income witnessed an improvement of 13.1%, increasing

Du posts estimate-beating Q2 profit gain (Reuters - 24/07/2014)

Du, the United Arab Emirates' second biggest telecommunications operator, reported a 15.6 percent rise in second-quarter profit on Thursday, beating analysts' estimates on the back of increased revenue from fixed and mobile services. The firm, which

Saudi state investment fund to set up new firms (Reuters - 24/07/2014)

Saudi Arabia's Public Investment Fund (PIF) aims to establish companies in areas including housing, petrochemicals and technology as it expands its investments locally and overseas, Finance Minister Ibrahim Al-Assaf said. His statement, quoted on

Taqa pulls out of $1.6bn India power deal (Trade Arabia - 24/07/2014)

Abu Dhabi National Energy Co (Taqa) is pulling out of a $1.6 billion deal to buy two Indian hydroelectric power plants because of "a change in strategy", a senior Taqa official told Reuters on Thursday. The official, who declined to be named under

Emirates NBD H1 profits surge 30pc to $640m (Trade Arabia - 24/07/2014)

Emirates NBD, the largest bank in the UAE by total income and branch network, today reported a net profit growth of 30 per cent year on year for the first half to Dh2.350 billion ($639.7 million). The strong operating performance was helped by solid

Mobily launches ‘Apps Developers Prize’ (Saudi Gazette - 24/07/2014)

Mobily announced the launch of 2014 Apps Developers Award, for the fourth consecutive year. Many prizes were allocated for this contest in a move aims to bring together all those interested in the world of applications and from different platforms under

Qatar inflation firms up on rising rents, higher transportation costs (Gulf Times - 24/07/2014)

Qatar’s inflation is firming up largely due to rising rents and higher costs in transportation and communication, National Bank of Kuwait (NBK) has said in a report. Headline inflation increased by 3.4% year-on-year (y-o-y) in May, due largely to rising

ME ahead of the world in luxury auto brands (The Gulf Today - 24/07/2014)

The Middle East has been described as a very important region for the luxury Rolls-Royce brand that represents the company’s biggest growth market, with the UAE being a big part of that success. Osman Abdelmoneim, General Manager of AGMC while speaking

Majid Al Futtaim first-half revenues up 14% (Gulf News - 24/07/2014)

Majid Al Futtaim Holding, one of the leading shopping mall, retail and leisure pioneer across the Middle East and North Afric a (Mena), reported a 14 per cent jump in first-half revenues to Dh12.8 billion due to strong performance across all its business

Tadawul opening for direct foreign investments boosts MENA (Saudi Gazette - 24/07/2014)

The Saudi Cabinet’s approval on Tuesday to open the Saudi stock market for direct foreign investments after the issuance of guidelines from the country’s Capital Market Authority (CMA) drew positive reactions. The actual opening of the market is seen

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