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Ooredoo Subsidiary Wataniya Group Completes Bravo Divestment
(Press Release - 31/01/2014)

Ooredoo Q.S.C. (Ticker: ORDS.QA) (“Ooredoo”) today announced that further to its market announcement of 31 October 2013 Saudi Telecom Company (“STC”) and an affiliate have acquired full ownership of Public Telecommunication Company Limited (“Bravo”).

Dubai Mall 'world’s most-visited destination'
(Trade Arabia - 31/01/2014)

Emaar Properties said its flagship shopping and entertainment destination, The Dubai Mall, has become the world’s most-visited destination for the third consecutive year, welcoming over 75 million visitors in 2013. Following the impressive footfall of 54

Ooredoo and Telenor hail Myanmar telecom licence
(AFP - 31/01/2014)

Qatari firm Ooredoo and Norway’s Telenor yesterday hailed a “milestone” for Myanmar after finalising telecoms licences expected to dramatically increase mobile phone use in the long-isolated nation. Only one in ten people in previously junta-ruled

ENBD declares Manchester trip winners
(Khaleej Times - 31/01/2014)

Emirates NBD, a leading bank in the region, on Thursday announced the first batch of 48 winners who have won a fully paid trip to Manchester to watch their favourite team train and play at Old Trafford. The lucky winners will also get a chance to

SR30bn capital plan
(Arab News - 31/01/2014)

Riyad Bank will increase its capital to SR30 billion from SR15 billion as it gives one bonus share for each held, it said in a statement. Shares in Riyad Bank jumped 8 percent to their highest since August 2008. The Tadawul All-Share Index rose by 56.41

Dubai Financial Market profit soars 708.5% on investment opportunities
(Khaleej Times - 31/01/2014)

Dubai Financial Market, or DFM, the world’s second best performing bourse in 2013, on Thursday reported a net profit of Dh284.6 million last year, a phenomenal 708.5 per cent jump from Dh35.2 million in 2012. DFM said revenues surged to Dh453.1 million

Local sukuk sale: NCB picks 4 banks
(Arab News - 31/01/2014)

Saudi Arabia’s National Commercial Bank has chosen four banks to arrange a local currency sukuk, joining a trend of lenders in the kingdom using Islamic bond markets to top up their capital reserves. NCB had mandated its own investment banking arm, NCB

Etisalat, 16 industry leaders build global submarine cable
(Khaleej Times - 31/01/2014)

Etisalat on Thursday announced its strategic investment along with 16 leading global service providers to construct ‘Asia Africa Europe-1’ (AAE-1) one of the largest global submarine cable systems. A massive undertaking, the AAE-1 submarine cable spans

Saudi lender NCB plans capital-boosting local sukuk sale
(Reuters - 30/01/2014)

Saudi Arabia's largest lender, National Commercial Bank, has picked four banks to arrange a local currency sukuk that will boost its capital, a document from lead managers said on Thursday. NCB had mandated itself as well as the investment banking arm of

Abyaar leases apartment building in Dubai
(Trade Arabia - 30/01/2014)

Abyaar Real Estate Development Company, a leading developer in the Middle East, has announced leasing an entire residential building located within Dubai Investments Park (DIP). The Abyaar Apartment Building is owned by one of Abyaar’s affiliates.

Riyad Bank reveals plans to double the bank’s capital
(CPI Financial - 30/01/2014)

In a statement to the Tadawul, the Chairman of the Board of Directors of Riyad Bank, Said Rashid al-Aziz Al-Rashed, told the Saudi market that the bank is planning to double its capital from SAR 15 billion to SAR 30 billion. The capital increase will be

DFM Issues Securities Lending and Borrowing (SLB) Rules
(Press Release - 30/01/2014)

Dubai Financial Market (DFM) today announced that it has issued the Securities Lending and Borrowing rules (SLB), as part of the exchanges constant efforts to enhance market infrastructure as per international best practices. The operational

Nakilat Joint Venture Signs US $669m Refinancing With QNB
(Press Release - 30/01/2014)

Qatar Gas Transport Company Ltd. (Nakilat) has secureda US $669 million facility with QNB Group for the refinancing of two existingLNG vessels and the purchase of two additional LNG vessels by its Maran NakilatCo. Ltd. joint venture. The agreement was

Vodafone Qatar Continues Delivering Strong Results
(Press Release - 30/01/2014)

Vodafone Qatar Q.S.C. (“Vodafone Qatar” or “The Company”) today announced its financial results for the nine months ended 31 December 2013. Nine-Months to 31 December 2013 - Operational Highlights: - 1,273,000 mobile customers; this is an increase of 27%

Addendum Announcement from Etihad Etisalat Company
(Tadawul - 30/01/2014)

We refer to our announcement published on Tadawul on 29 January 2014 regarding the extension of the long stop date of the memorandum of understanding (MoU) signed on 20 August 2013 between a subsidiary of Etihad Telecom Company (Mobily) (namely Bayanat

Now, BankDhofar allows cash withdrawal without ATM card
(Times News Service - 30/01/2014)

For the first time in Oman, BanDhofar is offering its customers cash withdrawals without the use of a card at all ATM machines. This service is part of BankDhofar's ongoing strategy to develop and implement innovative banking solutions that allow

CFC posts remarkable growth in e-payments
(Press Release - 30/01/2014)

Commercial Facilities Company ‘CFC’ recorded an impressive growth in electronic payments during 2013 with an increase of 52% compared to the 165 thousand transactions made during 2012. The total number of payment transactions via the Internet during 2013

CBD reports record Net Profit of AED 1.01 billion for 2013
(Press Release - 30/01/2014)

Commercial Bank of Dubai’s (CBD) net profit for year ending 31 December 2013 increased by 18% to AED 1,010 million as compared to AED 857 million for the previous year. With this the Bank maintains its record of annual growth in its net profit over the

Ooredoo set to get Myanmar telecoms rollout licence
(Reuters - 30/01/2014)

Qatar’s Ooredoo can begin rolling out a telecommunications network in Myanmar after its licence is formally awarded this week, a senior government official said yesterday. Myanmar announced in June that Ooredoo and Norway’s Telenor Group had won licences

Dubai Investments 2013 profit jumps 2-fold to Dh822m
(Reuters - 30/01/2014)

Conglomerate Dubai Investments reported a more than two-fold jump in its 2013 net profit on Wednesday, on the back of higher gain on fair value of its investments, profit from sale of properties and reduced finance costs. The company, in which sovereign

STC connects over 830,000 locations with FTTH network
(Saudi Gazette - 30/01/2014)

STC has expanded FTTH network to be able to connect more than 830,000 locations with the FTTH network which is more than 18,000-kilometer long across the Kingdom. STC has provided the fiber optic service at high speeds of 200 MB/s to take customers to a

SABB ‘Best Trade Finance Bank’ again
(Saudi Gazette - 30/01/2014)

The Saudi British Bank (SABB) has been named by Global Finance magazine as the “Best Trade Finance Bank” in Saudi Arabia for 2014. This is the 6th consecutive year that SABB has picked up this coveted award, widely acknowledging SABB as the preeminent

Nakilat secures QR2.44bn refinancing from QNB
(Gulf Times - 30/01/2014)

Nakilat has secured a $669mn (QR2.44bn) facility with QNB for the refinancing of two existing liquefied natural gas (LNG) vessels and the purchase of two additional LNG vessels by its Maran Nakilat Company joint venture. This is the second refinancing

QIB chairman confirms bank’s support for Cypriot companies
(Gulf Times - 30/01/2014)

Cyprus President Nicos Anastasiades has met with Qatar Islamic Bank chairman Sheikh Jassim bin Hamad bin Jassim bin Jaber al-Thani during his recent official visit to Qatar. Sheikh Jassim confirmed the bank’s support to Cypriot companies, which already

Zain KSA expands direct sales services
(Saudi Gazette - 30/01/2014)

ZAIN KSA started expanding its list of direct sales services offered to its subscribers. A team of 600 men and women in 26 different cities around the Kingdom are working on offering all services directly to subscribers both at their homes or workplace.

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