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UDC unveils iconic Al Mutahidah Towers project (The Peninsula - 28/04/2016)

United Development Company (UDC), the master developer of The Pear Qatar (TPQ), has unveiled a new project named ‘Al Mutahidah Towers’, at the ongoing ‘Cityscape Qatar 2016’ exhibition. Al Mutahidah Towers , consisting of about 450 high-end apartments

Al Meera records QR49.4m net profit in Q1 (The Peninsula - 28/04/2016)

Al Meera Consumer Goods Company (Al Meera) has reported a net profit of QR49.4m for the first quarter (Q1) of the current financial year ended March 31, 2016, up 14.6 percent compared to QR43.1m for the same period in 2015. The sales of Al Meera in Q1

Bank ABC net profit for Q1 down 21pc to $41m (Trade Arabia - 28/04/2016)

Bank ABC (Arab Banking Corporation) today announced that its consolidated group net profit, attributable to the shareholders of the parent, for the first quarter of the year 2016 was $41 million, 21 per cent lower compared to a profit of $52 million

Ooredoo Q1 profit jumps 75pc to $244m (Trade Arabia - 28/04/2016)

Qatari telecom operator Ooredoo reported a 75 per cent rise in first-quarter net profit on Wednesday driven by foreign exchange gains from Indonesia and Myanmar. The earnings of the former monopoly, which operates in about a dozen territories across the

Aramco to finance Saudi industrial push (Trade Arabia - 28/04/2016)

The world's biggest energy company Saudi Aramco outlined financing plans on Wednesday that will support its expansion into new areas under a sweeping economic reform plan released by Riyadh this week. The reforms envisage Aramco transforming itself from

NBF reports Dh150.5m first quarter net profit (Gulfnews - 28/04/2016)

National Bank of Fujairah (NBF) posted a net profit of Dh150.5 million compared to Dh149.5 million in the corresponding period of 2015, depicting a relatively growth of 0.7 per cent year on year. The bank’s operating profit was up 18.5 per cent.

ADCB’s first quarter net profits down 18.4% to Dh1.02b (Gulfnews - 28/04/2016)

Abu Dhabi Commercial Bank (ADCB) on Wednesday reported a net profit of Dh1.02 billion for the first quarter of 2016, down 18.4 per cent compared to Dh1.25 billion reported in the same quarter last year. Operating income during the first 3 months of the

NBAD’s first quarter net profits down 11% to Dh1.27b (Gulfnews - 28/04/2016)

National Bank of Abu Dhabi (NBAD) reported net profits of Dh1.27 billion for the first quarter of 2016, down 11 per cent compared to the first quarter of 2015, reflecting lower investment gains and higher provisions, despite growth in strategic

FGB’s first quarter net profit down 6% to Dh1.33b (Gulfnews - 28/04/2016)

First Gulf Bank (FGB) reported on Wednesday first quarter 2016 group net profit of Dh1.33 billion, down 6 per cent compared to Dh1.42 billion in the first quarter of 2015. “The Group continued to demonstrate resilience in an operating environment marked

Markaz renews its partnership with Loyac to nurture Kuwaiti talents (Arab Times - 28/04/2016)

As part of its strategy to build human capacity in order to enable and maintain a sustainable future, Kuwait Financial Centre K.P.S.C “Markaz” renewed its annual partnership with Loyac. This partnership affirms Markaz’s continuous commitment to

Minister of Housing honors Alinma Bank (Saudi Gazette - 28/04/2016)

The Saudi Arabian Minister of Housing Majid bin Abdullah Al-Hugail, recently recognized Alinma Bank for its participation at the four-day Riyadh Real Estate & Urban Development Exhibition (Restatex) at the Riyadh International Convention & Exhibition

KHC owns 47.5% stake in Four Seasons (Arab News - 28/04/2016)

As Four Seasons Hotels & Resorts was voted Best Hotel Group Worldwide in Gallivanter’s Guide, Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), said: “This is an important achievement for Kingdom Holding.” Moreover, KHC owns a 47.5

QNB investigating alleged data breach (Arab News - 28/04/2016)

Qatar’s largest bank is investigating a security breach that appears to have exposed sensitive personal data for what could be hundreds of customers, including employees of international broadcaster Al-Jazeera and potentially senior government officials.

Vision 2030: Aramco to deepen role in national transformation (Arab News - 28/04/2016)

Saudi Aramco unequivocally supports Saudi Vision 2030 announced recently by Custodian of the Two Holy Mosques King Salman, Crown Prince Mohammed bin Naif and Deputy Crown Prince Mohammed bin Salman, president of the Supreme Council of Saudi Aramco.

Rasmala 2015 profit drops 58pc (Trade Arabia - 27/04/2016)

Rasmala, an independent investment management group, has posted a profit of £0.25 million ($363,500) for 2015 as compared to £0.6 million during the previous year, marking a fall of 58.3 per cent. Operating income before tax stood at £0.5 million as

Saudi Aramco appoints new vice presidents (Reuters - 27/04/2016)

Saudi Aramco made new appointments to its executive ranks at its board meeting last week in Japan, while reappointing president and chief executive Amin Nasser, the company's weekly magazine the Arabian Sun reported on Wednesday. The appointments are

Aldar gives update on Abu Dhabi residential projects (The National - 27/04/2016)

Aldar Properties said today that its projects in Abu Dhabi are progressing on schedule. “Al Hadeel, Ansam, Al Merief, Nareel Island residential projects are all on track to be completed according to their respective schedules with steady progress being

Global Finance names QIB as world’s Best Islamic Retail Bank (The Peninsula - 27/04/2016)

Qatar Islamic Bank (QIB), Qatar’s leading Islamic bank, was recently recognised by Global Finance as the ‘Best Islamic Retail Bank’ in the world. The award reinforces QIB’s prominent position in international Islamic finance. QIB has also been awarded

Dubai Islamic Bank Q1 net attributable profit rises 7.2 pct (Reuters - 27/04/2016)

Dubai Islamic Bank ( DIB ), the United Arab Emirates' largest sharia-compliant lender, posted a 7.2 percent increase in first-quarter net profit on Wednesday on the back of higher revenue and setting aside less cash for bad debts. The bank made an

Emaar brings ‘mini-Dubai’ to London’s Harrods (The National - 27/04/2016)

Emaar Properties has brought a taste of Dubai to one the world’s most famous department stores as it attempts to attract foreign investors amid the property slowdown in the emirate. The Dubai developer, builder of the Burj Khalifa, is launching and

Saudi Aramco says approves funding initiatives including sukuk program (Reuters - 27/04/2016)

Saudi Aramco's board has approved a number of funding initiatives including the creation of a sukuk programme, its weekly magazine the Arabian Sun reported on Wednesday. The board, which met last week in Japan, has also decided to set up joint ventures

Bank Muscat's $500 million Euro bonds oversubscribed (Times of Oman - 27/04/2016)

Bank Muscat, the flagship financial institution in Oman, announced the successful pricing and closure of a 5-year, $500 million bond issuance under its Euro Medium Term Note (EMTN) programme. The deal carries a coupon of 3.75 per cent. “The overwhelming

Oman Fisheries plans separate subsidiary, to outsource major activitie (Times of Oman - 27/04/2016)

Oman Fisheries Company, which is 24 per cent owned by the government, plans to start a new company exclusively for fishing. There are also plans to outsource several activities to reduce cost of operation and to enhance efficiency. Further, plans are

Woqod Q1 net rises 3% to QR242.7mn (Gulf Times - 27/04/2016)

Woqod (Qatar Fuel Company) has reported a 3% rise year-on-year in net profit to QR242.7mn in the first three months of this year. Investment portfolio, real estate and other business activities have contributed to the net profit, Woqod chief executive

Barwa Bank AGM approves 10 percent cash dividend (The Peninsula - 27/04/2016)

Shareholders of Barwa Bank ratified all the items on the agenda of its Annual General Meeting (AGM), including the Board’s recommendation to distribute a cash dividend of 10 percent (QR1 per share) to shareholders for the last financial year ended

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