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Dana Gas ready to import Iranian gas if supplies are 'reliable'
(The National - 16/11/2017)

Sharjah-based energy company Dana Gas says its affiliate Crescent Petroleum’s facilities are ready for the import of gas from Iran, should the National Iranian Oil Company (NIOC) indicate its willingness to deliver gas through an existing pipeline that

Emaar Properties to raise $1.3 billion in development unit's IPO
(Reuters - 16/11/2017)

Emaar Development IPO-EMAA.DU, a unit of Dubai property firm Emaar Properties EMAR.DU, priced its initial public offer of shares below the mid-point of an indicative price range, valuing the deal at 4.82 billion dirhams ($1.31 billion) in Dubai’s first

Jarir Appoints of the Vice Chairman of the Board of Directors
(Tadawul - 16/11/2017)

Jarir Marketing Company announces that The Board of Directors decided By Scrolling on 26/02/1439 corresponding to 15/11/2017 to appoint the Managing Director Mr. Abdullah bin Abdulrhman Al-Agil as a Deputy Chairman of the Board of Directors as of

Julphar announces Dh86m nine-month net profit
(Gulfnews - 16/11/2017)

Gulf Pharmaceuticals Industries, Julphar, announced net profit of Dh86 million for the first nine months of 2017 in a statement to Abu Dhabi Securities Exchange. Over the same period the firms revenues were Dh992 million. Jerome Carle, Julphar’s General

Zain Bahrain signs key agreement with The K Hotel
(Biz Bahrain - 16/11/2017)

Zain Bahrain, a leading telecommunications provider in the Kingdom, and K Hotel, operated by the Gulf Hotels Group, signed an enterprise partnership for full connectivity solutions to serve the hotel and all its operations, including 237 guest rooms and

Al Anwar Holdings inks pact with AccorHotels for management of Novotel
(Oman Daily Observer - 16/11/2017)

AccorHotels, an international hotel chain, has signed a management agreement with Al Anwar Holdings SAOG for its brand new hotel — Novotel Muscat Athaiba. The agreement was signed by Masoud al Harthy, Chairman of Al Anwar Holdings SAOG, with chief

Oman Oil Co eyes enhanced upstream presence
(Oman Daily Observer - 16/11/2017)

Oman Oil Company (OOC), the Omani government’s energy investment arm, is moving aggressively to grow its presence in the upstream segment of the Sultanate’s oil & gas industry, complementing its already formidable footprint in the midstream and

Investbank acquires stakes in Amanat Holdings
(The Gulf Today - 16/11/2017)

Investbank has affirmed that it has acquired 405 million stocks in Amanat Holdings on behalf of TC Blitz, listed in Abu Dhabi Stock Exchange. The bank reported in a separate statement to the Abu Dhabi Stock Exchange that Investbank currently owns around

Weak corporate governance persists in Gulf but SABIC take place in sun
(Arab News - 16/11/2017)

Weak corporate governance is still prevalent among Gulf companies, with the lack of progress viewed as “a step back” for regional countries, according to a report published on Wednesday. Credit ratings agency Standard & Poor’s said only two companies had

Banque Saudi Fransi dismisses CEO
(Arab News - 16/11/2017)

Banque Saudi Fransi (BSF), the Kingdom’s fifth largest bank by assets, said on Wednesday it had terminated the services of Chief Executive Patrice Couvegnes in coordination with the central bank and other regulatory bodies. BSF did not elaborate on the

Drake and Scull posts $98m Q3 loss
(Trade Arabia - 15/11/2017)

Drake & Scull International (DSI), a regional market leader in engineering and construction services, has registered a net loss of Dh359 million ($98 million) for the third quarter of 2017 mainly hit by overall productivity of projects. Announcing the

Union Insurance Company reports nine-month profit of Dh6.3m
(Gulf News - 15/11/2017)

Union Insurance Company has reported a net profit of Dh6.3 million for the first nine month ended September 30 compared to a net loss of Dh12.8 million for the same period last year. Gross insurance premium rose by 21.75 per cent to Dh802 million

ABIC unveils LEXAN EXL AMHI240F 3D printing filament at formnext
(TCT Magazine - 15/11/2017)

Global chemical company, SABIC has launched its new LEXAN EXL AMHI240F filament at formnext powered by TCT as it aims to ‘help expand the application space for additive manufacturing.’ Based on the company’s LEXAN EXL polycarbonate copolymer technology,

Mashreq Bank opts for NCR's SelfServ ATM
(NCR - 15/11/2017)

NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions announced today, that Mashreq Bank, one of the leading financial institutions (FIs) in the UAE, has added the innovative NCR SelfServ 82 ATM, which is part of the NCR SelfServ™ 80

Emirates NBD goes digital in Dubai
(Press Release - 15/11/2017)

Emirates NBD, a leading banking group in the region, today opened its first paperless digital branch at Dubai World Trade Centre (DWTC). Inaugurated by H.E Hesham Abdulla Qassim, Vice Chairman of Emirates NBD Group and H.E Helal Saeed Almarri, Director

Aldar to launch sale of waterfront homes in Abu Dhabi
(Trade Arabia - 15/11/2017)

Aldar Properties, a leading property development and management company, has announced the launch of public sales for the second and final phase of Water’s Edge, the Company’s waterfront development on Yas Island in Abu Dhabi. All homes in this second

Union Properties posts Dh45m loss as construction revenue slumps
(The National - 15/11/2017)

Union Properties, the developer primarily known for its projects in Dubai’s Motor City, posted a Dh45 million loss for the third quarter, as construction revenues dropped by more than a half. The loss, reported on the Dubai stock exchange, was an

Al Rayan Bank CEO receives OBE
(Gulf Times - 15/11/2017)

Al Rayan Bank chief executive officer Sultan Choudhury has received his Order of the British Empire (OBE) from Prince William, the Duke of Cambridge, at a special investiture ceremony held at Buckingham Palace recently. Choudhury was appointed OBE in the

Dubai Investments, DSI included in MSCI GCC index
(Gulfnews - 15/11/2017)

Dubai Investments Corp (DIC) and Drake and Scull (DSI) shares have been included in the MSCI GCC countries Indexes, the index provider MSCI said in a statement. “DIC should see some increased foreign inflows after MSCI inclusion,” Menacorp said in a

Marka stems painful flow of losses with aggressive cost-cutting
(Gulfnews - 15/11/2017)

Marka released its third quarter financial results on Tuesday, reporting a net loss of Dh22 million, an improvement of sorts given the company’s losses of Dh126 million in the second quarter of 2017. The company’s total revenue fell sharply, however. the

Omantel and Ericsson showcase 5G experience in Oman
(Oman Daily Observer - 15/11/2017)

Omantel, the leading telecom provider in the Sultanate and Ericsson have successfully conducted a live 5G showcase at the Omantel Head Office in Muscat, Oman that displayed 5G capabilities in a real-world environment – including tests on speed, mobility,

ABK enables contactless payments–Tap ‘n’ Go service launched with KNET
(Arab Times - 15/11/2017)

In an effort to make life simpler for its customers through a series of ongoing enhancements, Al Ahli Bank of Kuwait (ABK) today announced the launch of the Tap ‘n’ Go service with KNET. This technology uses Visa payWave to enable Prestige, Elite and

The Savola Group Announces the resignation of its CEO
(Tadawul - 14/11/2017)

Savola Group (Savola) would like to announce its Board of Directors acceptance of the resignation of its Chief Executive Officer (CEO); Eng. Rayan M. Fayez on 14 November 2017. Eng. Rayan Fayez submitted his resignation on 13 November 2017 due to his

Waha Capital sells stake in NPS Holdings
(The National - 14/11/2017)

Waha Capital, an Abu Dhabi-based investment firm in which Mubadala Investment Company has a 15 per cent stake, has agreed to sell its stake in UAE-based NPS Holdings to National Energy Services Reunited (NESR) of the US in a cash and shares transaction.

Saudi Aramco signs contracts worth $4.5bn for mega projects
(Hydrocarbons Technology - 14/11/2017)

Saudi Aramco has signed agreements worth around $4.5bn with several contractors for oil and gas mega projects. The objective of the projects is to enhance the company’s energy sustainability, diversify the economy, increase gas production, and localise