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Further delay to Rabigh plant mill construction
(Cement World - 19/10/2017)

Commercial start-up of new cement mills at Arabian Cement Co.’s Rabigh plant has been delayed to 3Q18. The mills had been expected to go into operation in 4Q17 but construction work is still ongoing. The delay is “due to the contractor’s failure to

NBK named Best Bank in Kuwait 2017 by Global Finance
(Kuwait Times - 19/10/2017)

National Bank of Kuwait (NBK) has been named the Best Bank in Kuwait 2017 by the international financial publication Global Finance. The award was presented to George Richani, General Manager – International Banking Group at NBK, at an award ceremony

Riyad Bank third-quarter profit up 47.7 pct, beats forecasts
(Reuters - 19/10/2017)

Riyad Bank, Saudi Arabia's fourth-largest bank by assets, on Wednesday reported a 47.7 percent rise in third-quarter net profit, beating analysts' forecasts as income from investments and fees and commission rose. The bank, which had reported flat or

Aramco participates as a diamond sponsor in the 5th Water Arabia
(WebWire - 19/10/2017)

Saudi Aramco participated as the diamond sponsor in the 5th Water Arabia Conference and Exhibition under the theme “Sustaining water resources through innovative and reliable water and wastewater treatment technologies.” At the conference’s opening

Four Seasons and Jabal Omar Company to Open New Hotel in Makkah
(Press Release - 19/10/2017)

Four Seasons Hotels and Resorts, the world's leading luxury hospitality company, and Jabal Omar Development Company (JODC), a leading developer in the Middle East, announce plans for a new Four Seasons hotel in the Holy City of Makkah (also known as

Saudi needs Aramco billions as recession slows austerity drive
(Reuters - 19/10/2017)

Saudi Arabia’s plans to sell state assets - including a stake in energy giant Saudi Aramco - are becoming even more important to its finances as a recession slows Riyadh’s effort to close a budget deficit caused by low oil prices. ast December, Riyadh

McDermott to Present at the Future Investment Initiative
(Press Release - 19/10/2017)

McDermott International, Inc. (NYSE:MDR) President and Chief Executive Officer David Dickson is scheduled to speak on a panel at the Future Investment Initiative in Riyadh, Saudi Arabia on October 26, 2017 at 9 a.m. Arabia Standard Time (1 a.m. Central

Rowan, Aramco launch ARO Drilling
(Upstream Online - 19/10/2017)

US rig owner Rowan Companies and Sa udi Aramco have started up operations of their 50/50 joint venture ARO Drilling. Through the move, first announced in November 2016, Aramco and Rowan agreed to create the joint venture to own, operate, and manage

Dagong and IIRA maintain the Ratings of Al Baraka Banking Group
(CP Financial - 19/10/2017)

Dagong Global Credit Rating Company Limited (“Dagong”) and Islamic International Rating Agency (“IIRA”) have jointly maintained foreign and local currency ratings assigned to AlBaraka Banking Group (“ABG” or “the Group”) on the international scale at

Gazprom Neft eyes cooperation with Aramco in hard-to-recover oil
(Reuters - 19/10/2017)

Russia’s Gazprom Neft will work with the world’s largest oil producer Saudi Aramco in hard-to-recover oil production and on a technology known as hydraulic fracturing, Gazprom Neft chief Alexander Dyukov said on Wednesday. Earlier this month, both

Saudi’s Aramco Entrepreneurship Center continues to supports SMEs
(Startup MGZN - 19/10/2017)

The Saudi Aramco Entrepreneurship Center “Wa’ed” launched its pavilion at the 37th GITEX Technology Week that was held at Dubai World Trade Center between 8 to 12 October 2017. Crown Prince of Dubai His Highness Sheikh Hamdan bin Mohammed bin Rashid Al

Oman Qatar Insurance reports strong performance
(Times of Oman - 19/10/2017)

Oman Qatar Insurance Company (OQIC), a leading insurance company that closed its initial public offering (IPO) earlier this month, has delivered strong performance in nine month period of the year 2017 despite sluggish economic environment. The company

Total, Aramco in talks over JV refinery expansion
(Kallanish Energy - 19/10/2017)

Partners Total and Saudi Aramco are discussing an expansion project to increase the capacity of their joint-venture refinery in Saudi Arabi by roughly 10%, Total’s CEO Patrick Pouyanne said Wednesday. The Saudi Aramco Total Refining and Petrochemical

London Stock Exchange CEO Rolet fires back at Aramco IPO critics
(Arabian Business - 19/10/2017)

London Stock Exchange Group’s Xavier Rolet hit back at criticism that listing rules were eased to pave the way for one of the world’s largest initial public offerings. The exchange went on a charm offensive after Saudi officials said they are looking to

Wealth fund warning on change to listing rules for Saudi Aramco
(The Times - 19/10/2017)

The world’s biggest sovereign wealth fund has warned Britain against watering down its listing rules to accommodate Saudi Aramco, describing such proposals as “a step back in terms of investor protection”. In a letter to the Financial Conduct Authority,

Zain Bahrain wins GCC Best Employer Brand Award
(Trade Arabia - 19/10/2017)

Zain Bahrain, a leading telecommunications provider in Bahrain, has been awarded the prestigious 2017 GCC Best Employer Brand in recognition of its outstanding Human Resources (HR) practices. The award was received by Zain Bahrain Human Resources

Investcorp expands British acquisitions with Kee Safety
(The National - 19/10/2017)

Bahrain-based alternative asset manager, Investcorp, has acquired UK-based Kee Safety from Dunedin and LDC for US$370 million, the company said on Wednesday, in its third UK investment in 18 months. Investcorp will help the rooftop safety company,

Nakilat holds Qatar Project Shipping Forum in London
(The Peninsula - 19/10/2017)

Nakilat organised a two-day Qatar Project Shipping Forum (QPSF) in London that concluded yesterday. The 22nd session of the bi-annual forum gathered Nakilat’s joint venture partners, ship operators and charterers to discuss numerous matters concerning

Saudi Oil Minister says full Aramco IPO is on track for 2018
(Gulfnews - 19/10/2017)

Saudi Arabia is still aiming to complete both international and domestic portions of the initial public offering of its state oil company in 2018, Oil Minister Khalid Al Falih said Tuesday. Asked whether both parts of the IPO will happen next year, Al

CBD net profits decline 5.2% in first 9 months
(Gulfnews - 19/10/2017)

Commercial Bank of Dubai (CBD) reported a nine-month net profit of Dh665 million, 5.2 per cent lower compared to Dh701 million for the same period last year. The bank attributed the decline in net profits to prudent provisioning and higher general

Bahri reinforces 30 years of operation in North America
(Saudi Gazette - 19/10/2017)

Bahri, a global leader in transportation and logistics, took part in Breakbulk Americas which is taking place in Houston, Texas, from Oct.17-19, reinforcing its position through its three-decade-long presence in the US, marked by excellence and

Damac advert spend surges but profits fall
(Arab News - 19/10/2017)

A splurge on marketing spending failed to deliver a bottom line boost to Damac Properties — the developer behind behind the only Trump-branded golf course in the Middle East. The Dubai-based developer is well known for its marketing gimmicks such as

Al Jazira Capital maintain “Neutral” recommendation on Yamama Cement
(GulfBase - 18/10/2017)

Yamama Cement 3Q2017 net income of SAR 29.2mn (EPS, SAR 0.14) came above Al Jazira Capital estimates, which was mainly attributed to higher than expected selling price, indicating a deviation of 35.0% from the market consensus of SAR 21.59mn. Other

Qatar National Bank's 2017 loan growth to rise 12-14 pct -analysts
(Reuters - 18/10/2017)

Qatar National Bank (QNB), the largest lender in the Middle East and Africa by assets, expects loan growth of 12-14 percent this year, propelled by government infrastructure spending, analysts said after a call with QNB’s finance chief. The country’s

NBB achieves BD 49.43 million net profit
(BNA - 18/10/2017)

The National Bank of Bahrain (NBB) announced that it has recorded a net profit of BD 49.43 million ($ 131.46 million) for the nine months ended 30 September 2017 compared to BD 46.21 million ($ 122.90 million) for the corresponding period of the previous