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United Arab Emirates stocks higher at close of trade
(Investing.com - 31/10/2017)

United Arab Emirates stocks were higher after the close on Tuesday, as gains in the Finance & Investment, Transport and Telecoms sectors led shares higher. At the close in Dubai, the DFM General added 0.17%, while the ADX General index added 0.51%. The

UAE Property Developer DAMAC Ranks First on Forbes Global 2000
(Press Release - 31/10/2017)

DAMAC's topping of Forbes list puts UAE on world stage for its leadership in business entrepreneurship and global competitiveness. DAMAC Properties, a leading luxury real estate developer in the region, has clinched the number one spot on the Forbes

Dubai Investments reports profit rise for Q3 on strong rental income
(The National - 31/10/2017)

Dubai Investments, part of sovereign wealth fund Investment Corporation of Dubai (ICD), reported a 4.8 per cent rise in net income for the third quarter of the year, thanks to a rise in rental income and investment property valuations. The conglomerate's

Tabreed stock becomes Sharia-compliant
(Gulf News - 31/10/2017)

Tabreed said on Tuesday its shares have become certified as Sharia-compliant. The announcement follows the recent meeting of the Islamic Bank’s unified committee for Sharia screening. As a result, Tabreed has been included in the list of listed companies

UAE’s Dana Gas leaves maturing sukuk unpaid but no default declared
(Reuters - 31/10/2017)

United Arab Emirates energy producer Dana Gas will not redeem some $700 million of its Islamic bonds when they mature on Tuesday as a dispute on the validity of the sukuk drags on in British and UAE courts, sources familiar with the matter told Reuters.

Dana Gas Is Said to Miss Payment on $700 Million Sukuk Today
(Bloomberg - 31/10/2017)

A Middle Eastern energy company that has questioned the lawfulness of its own sukuk won’t settle the $700 million worth of debt owed to investors, according to people familiar with the matter. Dana Gas PJSC, the Sharjah, United Arab Emirates-based energy

Emaar Unit Is Said to Plan IPO at Premium of as Much as 20%
(Bloomberg - 31/10/2017)

Emaar Properties PJSC is expected to offer shares in its United Arab Emirates development business at a 10 to 20 percent premium to the unit’s net asset value, according to three people familiar with the plans. The lead managers on the initial public

Nokia, Zain to offer improved broadband experience to KSA users
(ANI - 31/10/2017)

Nokia and Zain Saudi Arabia are deploying Nokia's FastMile technology to provide a superior customer experience to Zain's customers. The deployment, the first for Nokia FastMile in the Middle East and Africa region, follows a successful trial of the

Ezdan records QR1.41bn net profit
(The Peninsula - 31/10/2017)

Ezdan Holding Group has announced its financial results for the period ended 30 September 2017. The period’s net profit amounted to QR1.41bn compared to QR1.29bn for the same period last year, an increase of 9.3 percent. The Group’s earnings per share

Mannai reports QR294m pre-tax profits.
(The Peninsula - 31/10/2017)

Mannai Corporation recorded a group revenue of QR4.4bn for the third quarter of 2017, up 26 percent from a year ago. The gross profit increased by 24 percent to QR1.0bn. During the year the company continued with its strategy of diversifying

Doha Bank, Centrum Wealth Management ink deal
(The Peninsula - 31/10/2017)

Doha Bank, one of the largest private commercial banks in Qatar, has entered into an agreement with Centrum Wealth Management Limited, to offer its customers wealth management services in India. The exclusive partnership in Qatar and one of its kind in

DFM post flat net profit for Jan-Sept period
(Gulfnews - 31/10/2017)

Dubai Financial Market said on Monday its net profit fell 1 per cent in the nine months to September to be at Dh173.3 million compared to Dh175 million in the same period last year. Total revenue reached to Dh313.3 million during the nine months period

Union Properties accelerates diversification strategy
(Gulfnews - 31/10/2017)

Union Properties announced the formation of a new investment arm, UPP Capital Investment, as the real estate group continues to roll out its diversification strategy. The new entity will specialise in direct and indirect real estate investments, and will

Bahrain's GFH eyeing Saudi listing, Gulf financial firm -CEO
(Reuters - 30/10/2017)

Bahrain's GFH Financial Group is considering a listing in Saudi Arabia and is also in talks to acquire a Gulf financial services company which has a presence in the kingdom, its chief executive told Reuters on Monday. GFH is also keen to participate in

Batelco Group Announces Third Quarter 2017 Profits of BD25.2 Mil
(Press Release - 30/10/2017)

Batelco Group (Ticker: BATELCO), the international telecommunications Group with operations across 14 countries, today announced its results for the nine-month period ended 30 September 2017 (“the Period”). The Group has maintained stable revenues with

ARAMCO,ADNOC could raise OSPs on high trades, sour crude oil structure
(Platts - 30/10/2017)

A strong Middle Eastern sour crude structure and high cash differentials for cargoes traded this month could prompt Saudi Aramco and UAE's Abu Dhabi National Oil Company to raise the official selling prices of their respective crudes to multi-month

Sabic chief calls for Saudi petchems firms to merge
(The National - 30/10/2017)

Saudi petrochemicals firms should merge to boost their competitiveness and look to expand abroad, the head of the major industry player Sabic said on Monday. The firms have enjoyed decades of cheap feedstock prices. But Saudi authorities began slashing

Saudi Arabia: LNG ahead
(Petroleum Economist - 30/10/2017)

For decades, Saudi Arabia insisted that it wouldn't seek natural gas from abroad to boost the volumes produced within the kingdom—in particular it was a firm tenet of former oil minister Ali al-Naimi during his 21 years in the job that there'd be no

Apple Pay Coming to du Customers
(Press Release - 30/10/2017)

du, the UAE telecommunications provider, today brings its customers Apple Pay, which is transforming mobile payments with an easy, secure and private way to pay that’s fast and convenient. Security and privacy are at the core of Apple Pay. When you use a

du Partners with 360VUZ to Support Regional Expansion
(Press Release - 30/10/2017)

du, joined forces with the award winning 360VUZ, a UAE based virtual reality and 360 degree live video startup pioneer – backed by Dubai Silicon Oasis Authority, to deliver breathtaking experiences to users with the help of the latest technologies

Saudi SABIC CEO says Q4 will be better than Q3 earnings
(Reuters - 30/10/2017)

Saudi Basic Industries Corp (SABIC) expects its fourth quarter will be better than its third quarter, when the firm posted its highest net profit since June 2015, its chief executive said on Monday. SABIC, the world’s fourth-biggest petrochemicals

Saudi Aramco sets Nov propane price at $575/T - statement
(Reuters - 30/10/2017)

State-run Saudi Aramco has left its November contract price for propane unchanged at $575 a tonne, it said on Monday. The price provides a benchmark against which Middle East sales of liquefied petroleum gas (LPG) to Asia are priced. Saudi Aramco's

Emirates NBD's Q3 profit rises 37 pct, ahead of two forecasts
(Reuters - 30/10/2017)

Emirates NBD (ENBD), Dubai’s largest lender, posted a 37 percent rise in third-quarter net profit on Monday as impairments tumbled and operating income rose. The bank, the last major lender from the United Arab Emirates to report its earnings during the

QIB sponsors conference on information security in financial instituti
(Gulf Times - 30/10/2017)

Qatar Islamic Bank (QIB) has announced its sponsorship of the ‘4th Annual Conference for Information Security in Financial Institutions (ISFS)’ on November 5 and 6 at Sheraton Grand Doha Resort and Convention Hotel. The conference, which is held this

EIBank’s third quarter profit up 48.4%
(Gulf News - 30/10/2017)

Emirates Investment Bank (EIBank), an independent private bank based in UAE has reported a net profit of Dh18.94 million for the third quarter of 2017, up 48.4 per cent compared to Dh12.76 million reported in the same period last year. For the first nine