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Small industries get a boost from Sharakah (Times of Oman - 30/03/2017)

Sharakah’s total investment in Small and Medium Enterprises (SMEs) rose by OMR27,000 to OMR807,000, despite the challenges the economy is facing due to the financial crisis, the chairman of the board said. Sharakah held its annual general meeting (AGM)

Oman share index recovers partial (Times of Oman - 30/03/2017)

Shares on the Muscat bourse recovered partially on Wednesday. The MSM30 Index ended the session on a positive note at 5,553.52 points, up by 0.19 per cent. The MSM Sharia Index gained 0.30 per cent to close at 842.03 points. Al Madina Investment was the

Greece, EU-IMF lenders agree on major issues (Gulf Times - 30/03/2017)

Greece has agreed with its lenders on key labour reforms, spending cuts and energy issues, moving closer to clinching a deal before a meeting of eurozone finance ministers on April 7, sources close to the talks said yesterday. The European Commission

Qatar stock index drops 44.98 points (The Peninsula - 30/03/2017)

Qatar Stock Exchange (QSE) index gained 44.98 points (-0.43%) when the bourse closed trading at 10,416.83 points Wednesday. The volume of shares traded decreased to 11,553,885 from 15,697,196 on Tuesday and the value of shares also decreased

Batelco AGM approves $110.3m dividend (Trade Arabia - 30/03/2017)

The annual general meeting (AGM) of Batelco Group, the Bahrain-based telecommunications group with operations across 14 countries, today approved a full year cash dividend of BD41.6 million ($110.3 million), at a value of 25 fils per share, for 2016. The

UAE healthcare market on track to top $28bn (Trade Arabia - 30/03/2017)

A shift in demand for preventive care, a rise in specialist services and digital health will drive the UAE healthcare market to surge from the current Dh64 billion ($17 billion) to over Dh103 billion ($28 billion) by 2021, a report said. More efficiently

FGB shares to be delisted on Thursday ahead of merger with NBAD (The National - 30/03/2017)

The Abu Dhabi lender FGB will have its shares delisted from the stock exchange today ahead of its merger with National Bank of Abu Dhabi (NBAD). Shares in the new entity, which retains the NBAD name, will begin trading on Sunday after the formal

Aldar tumble sets the tone on UAE markets (The National - 30/03/2017)

Aldar Properties was the big faller on UAE exchanges, posting a 6.2 per cent decline that dragged the Abu Dhabi Securities Exchange market general index lower. The index closed down 0.7 per cent at 4,435.85, with Aldar accounting for 17.2 points of the

Abu Dhabi fund loses crisis-related arbitration against Citigroup (Gulfnews - 30/03/2017)

Citigroup Inc has prevailed in the latest arbitration pursued by Abu Dhabi Investment Authority over the sovereign wealth fund’s $7.5 billion (Dh27.5 billion) investment in 2007 to shore up the then-struggling bank during the sub-prime mortgage

GFH shares battered in dull Dubai market (Gulfnews - 30/03/2017)

Gulf Finance House, which was the best performer in 2016, continued to witness long unwinding of positions as traders prepared themselves for the second quarter. Gulf Finance House extended losses for another session, closing more than 4 per cent lower

Saudi Aramco said to price Islamic bond in giant debt push (Gulfnews - 30/03/2017)

Saudi Arabian Oil Co. set final pricing for its debut Islamic bond as the company presses ahead with plans to raise $10 billion (Dh36 billion) in debt, according to a person with knowledge of the matter. Aramco, as the world’s largest oil producer is

Damac to approve dividends at AGM on April 16 (Gulfnews - 30/03/2017)

Damac Properties said on Wednesday it plans to hold its annual general meeting on April 16, when shareholders will approve dividends for last year among other items on the agenda. The board had approved a distribution of cash dividend to shareholders

Pound weakens as Brexit becomes official (Gulfnews - 30/03/2017)

The British pound hit its lowest level in one-week on Wednesday after the UK officially triggered Article 50 to leave the European Union. The pound fell as much as $1.2377 earlier in the session, before trading 0.32 per cent lower at $1.2406. “The

BankDhofar EGM approves increase of authorised capital to RO 500 milli (Oman Daily Observer - 30/03/2017)

The Extraordinary & Annual General Meetings (EGM & AGM) of Bank Dhofar was held on Monday at Grand Hyatt Hotel. The EGM/AGM was attended by the shareholders of the bank, the Chairman and members of the Board of Directors, Sharia Supervisory Board for

Dubai Entrepreneurship Academy supports growth (The Gulf Today - 30/03/2017)

The Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development, Dubai SME, a part of Dubai’s Department of Economic Development, plays a vital role in promoting entrepreneurship in Dubai, according to Dubai Crown Prince and Chairman

Burgan Bank holds AGM and Shafafiyah Forum (Arab Times - 30/03/2017)

Burgan Bank held its Ordinary and Extraordinary General Assembly meeting and Al Shafafiya Investors forum on Tuesday at the KIPCO Tower, wherein the Board of Directors presented the bank’s financial earnings report for the year ended Dec 31, 2016 and

KAMCO 2016 profit surges 144 percent – Revenues up 13% to KD 8.29mn (Arab Times - 30/03/2017)

KAMCO Investment Company K.S.C. (Public), a leading investment company with one of the largest AUMs in the region, announces its financial results for the year ending Dec 31, 2016. The Company recorded a net profit of KWD 1,275,814, an increase of 144%

Oil prices march higher (Arab News - 30/03/2017)

Oil prices extended gains on Wednesday despite an increase in US crude inventories, lifted by Libyan supply disruptions and expectations of output cut being extended by the Organization of the Petroleum Exporting Countries (OPEC). Front-month Brent crude

Gulf Investment Corp acquires 35% stake in Sudair Pharmaceuticals (Saudi Gazette - 30/03/2017)

Gulf Investment Corporation which is based in Kuwait announced that it has successfully completed acquisition of a significant minority stake in “Sudair Pharmaceuticals Company” – the owner and the developer of Sudair Specialized Pharmaceuticals Complex.

Saudi top 20 brands valued at $37 billion (Saudi Gazette - 30/03/2017)

The first BrandZ brand valuation ranking of Saudi Arabian brands by WPP and global research specialists Kantar Millward Brown, in partnership with Prince Mohammad bin Salman College of Business and Entrepreneurship (MBSC), showed that Saudi Telecom

National resilience program a ‘strategic imperative’ for GCC (Saudi Gazette - 30/03/2017)

The growing number of natural and man-made disasters around the world – from earthquakes and floods to recent cyber attacks against organizations – highlight the need for GCC countries to adopt a National Resilience framework, according to a Booz Allen

BSF signs deal with Saudi desalination giant (Arab News - 30/03/2017)

State-owned Saline Water Conservation Corporation (SWCC) has awarded a financial advisory mandate to Banque Saudi Fransi (BSF) for two greenfield projects. Patrice Couvegnes, BSF managing director, said: “The bank is committed to contributing to Saudi

Gold ticks higher as Brexit triggered (Arab News - 30/03/2017)

Gold edged up on Wednesday, as uncertainty about Brexit talks, French elections, and US President Donald Trump’s economic policies boosted safe-haven buying and offset a firmer dollar. Spot gold was up 0.1 percent at $1,252.11 per ounce at 1505 GMT. US

Merged U.A.E. Banking Giant Seen Earning Bigger MSCI Weighting (Bloomberg - 29/03/2017)

A mega-merger of the two biggest banks in the United Arab Emirates should leave the combined company with a larger representation on the benchmark emerging-market index, triggering hundreds of millions of dollars of inflows to the stock, according to

Saudi Aramco’s Valuation Could Top $1 Trillion After Tax Cut (Bloomberg - 29/03/2017)

Saudi Aramco could have a market value of more than $1 trillion in an initial public offering after the government slashed the oil producer’s tax burden to attract investors, analysts at Sanford C. Bernstein & Co. and Rystad Energy AS said. The tax cut

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