BNH registers net profit of $2.2m
(Gulf Daily News
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15/05/2012)
Bahrain National Holding Company (BNH), the parent company of bni and bnl, yesterday announced a net profit of $2.17 million in the first quarter of this year, against $2.81m for the same period last year. The company registered gross premium of $15.84m,
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Arig posts net profit of $5.5m
(Gulf Daily News
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15/05/2012)
Following a full-year loss in 2011, Arig rebounded to profitability, in the first quarter of this year with a net profit of $5.5 million on the back of benign claims from its reinsurance book and strong investment returns. The group's underwriting result
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Banque Saudi Fransi plans to issue 5-year sukuk
(Reuters
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15/05/2012)
Banque Saudi Fransi (BSF) plans to issue a five-year benchmark-sized Islamic bond, or sukuk, arranging banks said, after the lender completed investor meetings last week. An issue would be the Saudi bank's first sukuk under a recently-established $2
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Viva official sponsor of Real Madrid
(Trade Arabia
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14/05/2012)
Viva Kuwait has announced its official sponsorship of Real Madrid Football Club. Real Madrid won several championships, including nine Champions League trophies, three Intercontinental Cups, and 32 La Liga titles. The club was named as the ‘Best Club of
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Gulf Finance House posts $1m Q1 profit
(Trade Arabia
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14/05/2012)
Bahrain-based Gulf Finance House (GFH) recorded a net profit of $1 million for the first quarter of this year ending March 31, a statement said. The bank had reported a net profit of $11.9 million during the same period last year. The total income for Q1
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Du announces participation at Fujairah Career Fair
(AME Info
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14/05/2012)
Du will participate for the fifth consecutive year at the Fujairah Career Fair, to be held from 15 - 17 May at Fujairah Exhibition Centre. As part of the telecom's efforts to empower Emiratis by providing them with challenging careers, Du will make a
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Rakbank joins hands with Makemytrip.ae
(AME Info
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14/05/2012)
Rakbank has joined hands with Makemytrip.ae, an online travel agent, to offer cardholders a two-for-one holiday package deal. Valid until the end of July and when purchasing any of five holiday packages on Makemytrip.ae, this exclusive offer gives
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Cappinova Q1 net profit slides to $743,000
(CPI Financial
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14/05/2012)
Cappinova Investment Bank (Capinnova), the Shari'ah-compliant investment banking arm of BBK, announced that the bank has reported a net profit of $743,000 for the period ended 31 March 2012, as compared to net profit of $1.2 million for the same period
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BankDhofar signs with Path Solutions for Islamic banking system
(CPI Financial
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14/05/2012)
Muscat/BankDhofar recently named Path Solutions as its Core Banking System provider for its Islamic operations. This system, entitled iMAL, is the first certified core banking system for the bank's Islamic banking operations. The two companies signed an
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BankMuscat visionaries to instil ‘We can do more’ vision
(Oman Daily Observer
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14/05/2012)
BankMuscat, the flagship financial services provider in the Sultanate, recently inducted the bank’s visionaries entrusted with the task of inculcating the new ‘We Can Do More’ vision internally and externally, thereby achieving the bank's goals and
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Confident Qtel proves equal to the challenge
(The National
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14/05/2012)
Qatar Telecom (Qtel) is winning plaudits as it fares better than expectations amid difficult trading conditions and its ambitious growth plans start to take shape. The former Qatari telecommunications monopolist reported a 12.2 per cent dip in net income
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Arabtec remains Dubai Financial Market's biggest mover
(The National
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14/05/2012)
As the bulls began a formidable stampede on the Dubai Financial Market (DFM) in January, Arabtec Holding was the heaviest of the herd. Taking the beginning of the year as a starting point, the DFM General Index crossed the threshold of entering a bull
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Commercial Facilities Company Q1 net profit reaches KD 4.594 million
(Al Watan
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14/05/2012)
Commercial Facilities Company (CFC) announced in a press release on Sunday its financial results for the three months ended March 31, 2012. Led by strong revenue growth in its core operations, CFC reported a net profit of 4.594 million Kuwaiti dinars for
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Zooming in on Alba's growth
(Gulf Daily News
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14/05/2012)
Alba's position as the first aluminium smelter in the Middle East that pioneered the growth of the industry in the region in 1971 provided the main focus of Alba's newly-launched corporate video. The video also turns the spotlight on Alba's award-winning
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Emirates NBD funds post robust performance in Q1
(Khaleej Times
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14/05/2012)
Emirates NBD Asset Management, the asset management arm of Emirates NBD, a leading bank in the region, announced on Sunday that its range of funds, including global fund of funds, MENA equity funds and fixed income funds, have demonstrated robust
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$5m gains for Nass
(Gulf Daily News
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14/05/2012)
Nass Corporation announced yesterday a net profit of BD1.938 million ($5m) for the first quarter of 2012, compared to BD1.827m for the same period last year. "Despite extremely adverse market conditions the company has been able to achieve a reasonable
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$4.2m profit for Seef Properties
(Gulf Daily News
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14/05/2012)
Seef Properties yesterday announced a 20 per cent increase in the first-quarter net profit at BD1.66 million ($4.2m) as compared to BD1.38m for the same period last year. "We have had a very encouraging start to 2012 in registering a remarkable revenue
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Ithmaar operating profit tops $4.4m
(Gulf Daily News
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14/05/2012)
Ithmaar Bank yesterday announced a net operating profit of $4.4 million, before impairment provisions and taxation for the first quarter of this year, compared to a net operating loss of $2.8m in the same period last year. As a result it suffered a net
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ADIB first-quarter profit up 5.8% as deposits, assets rise
(Khaleej Times
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14/05/2012)
Abu Dhabi Islamic Bank, or ADIB, on Sunday said its first-quarter earnings improved 0.9 per cent to Dh307.3 million despite tough market conditions. “Despite the continued challenging market conditions, and an increasing number of regulations, the
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Dubai Investments net profit up 6.3%
(Reuters
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14/05/2012)
Conglomerate Dubai Investments posted a 6.3-percent rise in quarterly net profit yesterday and said the company was reviewing opportunities to divest some of its businesses. The firm, in which sovereign wealth fund Investment Corporation of Dubai (ICD)
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Aabar takes majority stake in Arabtec
(Reuters
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14/05/2012)
Abu Dhabi fund Aabar Investments has raised its stake in Arabtec Holding to 53 percent, a market official said yesterday, effectively taking control of Dubai's largest builder after a failed $1.7 billion bid two years ago. The state-owned fund, which
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KHC, STC to provide telecom infrastructure for Kingdom Land
(Saudi Gazette
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13/05/2012)
Kingdom Holding Company (KHC) chaired by Prince Alwaleed Bin Talal announced the signing of the agreement with Saudi Telecom Company (STC) to provide telecom infrastructure for Kingdom Riyadh Land. A company statement Saturday said the project includes a
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Bank Muscat launches assessment for prospective branch managers
(Oman Daily Observer
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13/05/2012)
BankMuscat, the flagship financial services provider in the Sultanate, recently launched an innovative assessment programme for staff to identify and train prospective branch managers. Over 140 potential branch managers participated in the second batch
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Air Arabia launches service to Taif
(Arab News
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13/05/2012)
Air Arabia (PJSC), the MENA's first and largest low-cost carrier, has announced the introduction of services to Taif from the carrier's primary hub in Sharjah. The new service marks Air Arabia's seventh destination in the Kingdom and 74th worldwide.
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Sharjah Islamic Bank appoints 45 Emirati employees
(AME Info
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12/05/2012)
Sharjah Islamic Bank (SIB) announced the appointment of 45 UAE nationals in the differennt branches and departments of SIB, during an open-day held at SIB's headquarters under the patronage and presence of HE Tariq bin Khadim, Chairman of the Directorate
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