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KFH posts $480m net profit
(Gulf Daily News - 31/01/2016)

Kuwait Finance House (KFH) posted a net profit of 145.8 million Kuwaiti dinars ($479.8m) for the fiscal year 2015 compared with KD126.5m for 2014, an increase of 15.3 per cent. Earnings per share increased to reach 31.1 fils, an increase of 15.3pc.

Bank Muscat wins Best SME Bank award in recognition of unique initiati
(Oman Daily Observer - 31/01/2016)

Bank Muscat, the flagship financial services provider in the Sultanate, won the coveted Entrepreneurship Award 2015 in recognition of unique initiatives in support of SME development in the Sultanate. AbdulRazak Ali Issa, Chief Executive, received the

Alizz islamic bank eBanking channels offer fast and safe services
(Times of Oman - 31/01/2016)

Reinforcing its position as the most innovative Islamic financial institution in Oman, the eBanking channels of alizz islamic bank have enhanced the customer experience with the ease of banking being just a click away. The eBanking channels give

QNB wins top awards from The Banker Magazine
(Gulf Times - 31/01/2016)

QNB has been recognised for its “Best SME Customer Service” and “Best Managed Advisory Service in Qatar” by the Banker Middle East Magazine, the bank has said in a statement. QNB’s Group Corporate Banking received the “Best SME Customer Service” award,

Ooredoo to invest $350m in Myanmar
(The Peninsula - 31/01/2016)

Ooredoo is investing more in Myanmar this year in a bid to broaden its appeal, the head of its local unit said, brushing aside suggestions that it would exit one of Southeast Asia’s fastest growing markets. Ooredoo had focused on providing costly,

Ezdan Holding announces project in Addis Ababa
(The Peninsula - 31/01/2016)

Sheikh Dr Khalid bin Thani bin Abdullah Al Thani, Chairman of Ezdan Holding Group, said the Group will intensify its investment plans in Ethiopia. Sheikh Dr Khalid announced the decision after his meeting with the Prime Minister of Ethiopia Hailemariam

Emaar and Eagle Hills link up with Sharjah’s Shurooq
(The National - 31/01/2016)

Emaar and Eagle Hills have formed a new property venture with Sharjah’s Investment and Development Authority (Shurooq). Shurooq said the project would support the emirate’s economic expansion plans. The newly formed company, Omran Properties, will seek

United Arab Bank winds down SME unit after surge of UAE debtors
(Reuters - 28/01/2016)

United Arab Bank (UAB), hard hit by a surge in debt defaults among small business owners in the UAE, is winding down its SME unit to focus on larger companies in a bid to return to profit, it said on Thursday. The bank’s earnings were hobbled last year

Kuwait's Gulf Bank Q4 profit rises 5 pct
(Reuters - 28/01/2016)

Gulf Bank, Kuwait's fourth-largest lender by assets, reported a 5 percent rise in fourth-quarter net profit on Thursday. Net profit for the three months to Dec. 31 was 9.4 million dinars ($31 million), compared with 8.9 million dinars from a year

BisB secures best retail bank award
(Gulf Daily News - 28/01/2016)

Bahrain Islamic Bank (BisB) has won the Best Islamic Retail Bank in Bahrain 2015 award given by London-based International Finance Magazine. The bank’s win for the second year in a row is “a recognition of the progress of its business and its

BankDhofar’s net grows 15.62 pc
(Oman Daily Observer - 28/01/2016)

The premier international energy futures and commodities exchange in the Middle East, announced on Wednesday a new open interest record for its flagship Oman Crude Oil Futures contract of 31,492 lots, which is equivalent to 31.5 million barrels of Omani

QIIB’s income grows 4.6%, net profit touches QR784m
(The Peninsula - 28/01/2016)

Qatar’s major Islamic lender International Islamic (QIIB) recorded a total income amounting to QR1.59bn, with a net profit of QR784.2m for the full year 2015. QIIB’s net profit stood at QR825.8m at the end of 2014. QIIB has achieved earnings per share

Commercial Bank of Qatar 2015 net hits $389m
(Trade Arabia - 28/01/2016)

Commercial Bank of Qatar earned a net profit of QR1.458 billion ($389 million) in the year ending Dec. 31, against a profit of QR1.94 billion a year ago, the bank said in a statement. CBQ, which also owns Alternatifbank in Turkey and holds a 34.9 per

Mobily training modules enhance skills of its staff
(Saudi Gazette - 28/01/2016)

Etihad Etisalat (Mobily) has successfully conducted trainings to fine-tune the skills and abilities of more than 2,800 employees across the company based on various programs for training and development. The entire exercise has been carried out with the

Prince Alwaleed, Maltese envoy hold investment talks
(Arab News - 28/01/2016)

Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), received at his office in Riyadh, Martin Valentino, Maltese ambassador to Saudi Arabia. The meeting began as the ambassador thanked Prince Alwaleed for giving him the opportunity to

Ooredoo Oman Q4 net profit rises 10.8pc
(Reuters - 27/01/2016)

Ooredoo Oman, the sultanate's No 2 telecom operator, reported a 10.8 percent increase in fourth-quarter net profit on Wednesday, its sixth rise in eight quarters. The firm, majority-owned by Qatar's Ooredoo, made a net profit of OR9.2 million ($23.90

Mashreq Q4 net profit falls 13.7pc
(Reuters - 27/01/2016)

Mashreq, Dubai's third-biggest bank by assets, posted a 13.7 percent fall in fourth-quarter net profit on Wednesday. The lender made a net profit of Dh556.2 million ($151.45 million) in the three months to Dec. 31, it said in a statement. This was down

Takaful, Takaud partner for Sharia-compliant solutions
(Press Release - 27/01/2016)

TAKAUD, the specialist savings, investments and pensions provider for the MENA region, and Takaful International , Bahrain's pioneering Islamic insurance company, are partnering to provide Takaful's individual and corporate life insurance clients with

Moody's confirms BisB’s Ba3 issuer ratings
(CPI Financial - 27/01/2016)

Moody's Investors Service has today confirmed Bahrain Islamic Bank's (BIsB) Ba3 issuer ratings and upgraded the standalone baseline credit assessment (BCA) to b3 from caa1. At the same time the bank's counterparty risk assessment of Ba2(cr)/NP(cr) were

Bank Muscat Board proposes dividend for 2015
(CPI Financial - 27/01/2016)

Bank Muscat has proposed 30 per cent dividend for the year 2015. Continuing the bank’s strong dividend payment track record, the Board of Directors has proposed 25 per cent cash dividend for the year 2015 which is consistent with the cash dividend paid

Sahara Petrochemical announces developments of right issues
(Tadawul - 27/01/2016)

Sahara announces to its shareholders the developments of proceeds from the rights issue received on 23/12/2011G. Up to the end of the fourth quarter of 2015 the company has used the following amounts to finance the projects listed in the prospectus as

Vodafone Qatar to review costs after loss widens
(Reuters - 27/01/2016)

Vodafone Qatar plans to review its costs in an effort to maintain margins, it said after reporting widening losses for a fifth straight quarter on Tuesday. The telecoms operator has yet to make a quarterly profit, more than six years since ending

Saudis Present Plans to Run Low-Budget Kingdom
(Sputnik News - 27/01/2016)

Saudi Arabia has presented a plan that seeks to reassure investors its economy can cope with the challenges of cheap oil, which left the kingdom with a budget deficit in 2015 that was 15 percent of GDP. Saudi Arabia has presented a reform plan to

Dubai Islamic Bank Q4 net profit rises 62.8 pct, raises dividend
(Reuters - 27/01/2016)

Dubai Islamic Bank (DIB), the United Arab Emirates' largest sharia-compliant lender, posted a 62.8 percent increase in fourth-quarter net profit on Wednesday, according to Reuters calculations. The bank made 1.15 billion dirhams ($313.1 million) in the

Qatar National Bank closes $600 mln one-yr bond - arranger
(Reuters - 27/01/2016)

Qatar National Bank (QNB), the largest lender in the Gulf Arab region, closed a $600 million one-year bond issue on Tuesday, a spokesman for its sole arranger confirmed. The transaction paid a coupon of 1.22 percent and was solely arranged by Morgan

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