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Boubyan Bank's consumer finance at 4 pct - Chairman
(KUNA - 31/01/2012)

Boubyan Bank's share in consumer finance has reached four percent as oppose to the one percent when the bank was opened in 2009, said Chairman of the Board and CEO Adel Al-Majed here Tuesday. Al-Majed said in a press release that the bank managed to

Shell Oman renews agreement with Arabian Automobile Alliance
(Oman Daily Observer - 31/01/2012)

Shell Oman Marketing Company has signed an agreement with Arabian Automobile Alliance (AAA) for customers of the Shell Gold Fuel Cards, at the Shell head office last week. With this renewed agreement, Shell Gold Fuel Card holders can continue to avail

Bank Muscat extends CSR support to repair homes
(Oman Daily Observer - 31/01/2012)

BankMuscat, the leading financial services provider in the Sultanate, has extended support to repair homes of the needy as part of its ‘Tadhamun’ social initiative. The objective of the Corporate Social Responsibility (CSR) initiative is to address the

Ahlibank’s net profit up 29 per cent
(Times of Oman - 31/01/2012)

ahlibank, one of the leading commercial banks in the country, announced its unaudited results for the year ended on December 31, 2011. The bank has achieved a 29 per cent surge in net profit for the year ended on December 31, 2011. The net profit rose

First Gulf Bank to pay shareholders Dh1.5bn
(The National - 31/01/2012)

First Gulf Bank has announced a Dh1.5 billion (US$408.3 million) payout to shareholders as part of a dividend plan that includes issuing bonus shares to all investors. The capital's third-biggest lender will pay shareholders Dh1 and distribute one extra

Year starts with a bang for Emaar Properties
(The National - 31/01/2012)

Emaar Properties had a strong run this month on investor expectations of bigger quarterly profits from its malls and hotels after tourists flocked to Dubai during the Arab Spring. Shares in the developer, which built the Burj Khalifa, have increased more

Abu Dhabi in talks over Aldar stake
(Gulf Daily News - 31/01/2012)

Abu Dhabi has held talks to offload all or part of a 49 per cent government stake in struggling Aldar Properties in an attempt to stop its falling asset value from dragging down state investment fund Mubadala. According to sources, the talks have been

Top etisalat official elected IPRA-GC VP
(Khaleej Times - 31/01/2012)

Ali Al Ahmed, the chief corporate communications officer of etisalat, has been elected as the vice-president for UAE of the International Public Relations Association – Gulf Chapter, or IPRA-GC. He has been mandated with driving the organisation’s growth

AUB system 'is ready'
(Gulf Daily News - 31/01/2012)

Ahli United Bank (AUB) has announced that it is completely ready for the launch of International Bank Account Number (IBAN) standard in Bahrain. This move is in line with Central Bank of Bahrain's directives making the use of IBAN a mandatory requirement

First Gulf Bank profit up 8% at Dh3.7b
(Khaleej Times - 31/01/2012)

First Gulf Bank, or FGB, on Monday declared an eight per cent increase in its net profit that reached Dh3.7 billion for 2011 and also recommended a 100 per cent cash dividend for its shareholders. The bank’s net profit for the fourth quarter amounted to

Zain careers beckon Saudi youth
(Arab News - 31/01/2012)

Zain Saudi Arabia, ranked "excellent" in the Nitaqat scheme, has revealed plans to attract more talented Saudi nationals. It gained the excellent status as classified by the Saudi Ministry of Labor, after having achieved high rates in Saudization levels.

DSI wins $34m Abu Dhabi contract
(Trade Arabia - 30/01/2012)

Drake & Scull International (DSI), a market leader in integrated design, engineering and construction sector, has clinched a Dh127 million ($34.5 million) Mechanical, Electrical and Plumbing (MEP) contract in Abu Dhabi. The project, for a major Abu Dhabi

Dana Gas Q4 profit jumps, no details on sukuk
(Reuters - 30/01/2012)

Dana Gas, which faces a $1 billion sukuk maturity in October, posted sharply higher fourth-quarter and yearly profits on Monday, buoyed by an increase in production and higher oil prices. Abu Dhabi-listed Dana, which has operations in the UAE, Egypt and

NBAD participates in Tawdeef Career Fair
(AME Info - 30/01/2012)

The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, is platinum sponsor of Tawdeef Career Fair to be held in Abu Dhabi National Exhibition Centre (ADNEC) from January 31st to February 2nd, 2012. NBAD's sponsorship and participation in

Emirates NBD partners with French Business Council
(AME Info - 30/01/2012)

Emirates NBD recently partnered with the French Business Council (FBC) to host the French Tuesday Networking event, and introduce the bank's Business Banking products and services to FBC members. The partnership includes a supporting committee membership

Etisalat Chief Corporate Communications Officer elected Vice President
(AME Info - 30/01/2012)

Ali Al Ahmed, Chief Corporate Communications Officer of Etisalat, has been elected as the Vice President - UAE of the International Public Relations Association - Gulf Chapter (IPRA-GC). He is mandated with driving the organisation's growth in the UAE,

Masraf Al Rayan Reports QR 1.4 Billion in Net Profit
(QNA - 30/01/2012)

Masraf Al Rayan has disclosed the preliminary financial statements for the year ended December 31, 2011. The preliminary financials revealed a net profit of QR 1.4 billion in 2011, it said in a release published on the (Qatar Exchange) website on Monday.

Oman flour mill on rise as population grows
(The National - 30/01/2012)

Salalah Flour Mills is expanding in a bid to benefit from Oman's rising food requirements, which would bode well for the company's stock. The Omani market heavyweight, with a 30 per cent market share, has already been operating beyond its maximum

STC Group moves ahead of all by introducing 4G services
(AME Info - 30/01/2012)

GSMA, the global organization for mobile systems consisting of approximately 1000 companies spread across 219 countries worldwide, announced that STC is officially the first operator in the region to launch the 4G LTE service throughout MENA on the 12th

First Gulf Bank 2011 net profit rises 8% to Dhs3,707m
(AME Info - 30/01/2012)

First Gulf Bank PJSC, (FGB), the leading financial partner of choice in the UAE, announced that the bank posted a Net Profit of Dhs3,707m for 2011, 8% higher than it did last year. The Net Profit for the fourth quarter (Q4) amounted to Dhs1,022m, 18%

Islamic mortgage company Tamweel turns strong profits
(The National - 30/01/2012)

Tamweel reported strong profits in its first full year since restarting trading operations, as it attempted to put its troubles in the Dubai mortgage market behind it. The Islamic mortgage company said fourth-quarter profit rose to Dh31 million (US$8.4m)

Qatar sees Denizbank deal 'if price right'
(Reuters - 30/01/2012)

Qatar's finance minister, who is also the chairman of Qatar National Bank, said QNB could buy Turkey's Denizbank by year's end if the "price is right". Asked if he hoped the purchase may be completed by the end of the year, Youssef Kamal said: "If the

Bank Muscat Shariah board members to address Islamic banking seminar
(Oman Daily Observer - 30/01/2012)

BankMuscat, the flagship financial institution in the Sultanate, is hosting the fourth seminar on Islamic banking on February 2 at the Ministry of Education auditorium in Wattayah. The BankMuscat Sharia board members Shaikh Dr Ali Qaradaghi, Chairman,

NBAD Cautious Income Fund unveiled
(Khaleej Times - 30/01/2012)

The National Bank of Abu Dhabi, or NBAD, announced that from today its new mutual fund, the NBAD Cautious Income Fund, will accept subscriptions. This new fund is a unique bond fund that offers investors attractive returns with low levels of risk. At a

Boubyan Bank achieves net profit of KD 8 million for 2011
(Al Watan - 30/01/2012)

Boubyan Bank said on Sunday its results for 2011 showed a net profit of eight million Kuwaiti dinars - a growth of 31 percent, in comparison with the six million dinars net profit of 2010. Chairman of Boubyan Bank Ibrahim Al-Qadhi, said in a press

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