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Dar Al Arkan approves offering 30% of Dar Al Arkan Properties
(Tadawul - 31/12/2017)

Dar Al Arkan Real Estate Development Company is pleased to announce the Board of Directors resolution dated 28/12/2017 to approve offering 30% of Dar Al Arkan Properties Company. Samba Capital & Investment Management Company (Sambacapital) has been

NCB board recommends increase in capital through bonus shares
(Tadawul - 31/12/2017)

The Board of Directors of NCB has recommended on 28-12-2017 corresponding to 10-04-1439H to an Extraordinary General Shareholders Assembly (EGAM) an increase the Banks capital through bonus shares as following: 1- Banks capital before increase is SAR

Saudi Aramco shipyard joint venture appoints CEO
(Arab News - 31/12/2017)

Saudi Aramco and its partners have appointed Fathi K. Al-Saleem as chief executive of a joint venture to build a shipyard on the kingdom’s east coast, part of the Saudi Arabian government’s drive to diversify the economy beyond oil. The state-owned oil

Saudi Aramco launches new global maritime industries JV
(Trade Arabia - 31/12/2017)

State oil giant Saudi Aramco has joined hands with UAE-based Lamprell, the National Shipping Company of Saudi Arabia (Bahri) and Korea's Hyundai Heavy Industries to launch their International Maritime Industries (IMI) joint venture. The new company is

India's Aarti Industries wins $1.6bn Sabic US contract
(Trade Arabia - 31/12/2017)

Indian speciality chemicals company Aarti Industries said it has secured a Rs100 billion ($1.56 billion) contract from global chemical conglomerate Saudi Basic Industries Corporation (Sabic) for supply of for supply of speciality chemicals intermediate

Tawuniya ranked among top 100 Arab world companies
(Saudi Gazette - 28/12/2017)

The Company for Cooperative Insurance (Tawuniya) has been ranked as one of the top 100 companies in the Arab world for the year 2017. The ranking, issued by Forbes Middle East magazine, is based on an analysis of the largest 1,300 publicly traded

Bank Muscat,MoHE sign agreement for 20-Jesr Al Mustaqbal’ scholarships
(Oman Daily Observer - 28/12/2017)

Bank Muscat, the flagship financial services provider in the Sultanate, as part of its ‘Let’s Do More’ vision and Imprints social responsibility initiative, signed an agreement with the Ministry of Higher Education (MoHE) to provide 20 scholarships to

Adnoc and OCP sign long-term agreement
(The Gulf Today - 28/12/2017)

The Abu Dhabi National Oil Company (Adnoc) and the OCP Group of Morocco (OCP) announced on Wednesday the signing of a long-term sales agreement whereby Adnoc will supply OCP with granulated sulphur. Under the agreement, Adnoc, one of the world’s largest

Alawwal Bank beats region’s best to win 2 corporate excellence awards
(Arab News - 27/12/2017)

Alawwal bank won the Middle East’s “Best retail bank” and “Banking CEO of the year” at the recent Lefonti Awards held in Dubai. The awards are part of an international program celebrating corporate excellence among the region’s most recognizable brands.

Emirates NBD signs with Shurooq Stocks & Bonds
(Press Release - 27/12/2017)

Emirates NBD, a leading bank in the region, today announced the signing of an agreement to offer clearing services to UAE-based brokerage firm Shurooq Stocks & Bonds. Emirates NBD is the first UAE-based financial services entity to be approved by ‘SCA -

Aramco’s first AUV revolutionizing underwater surveying and inspection
(Press Release - 27/12/2017)

A new autonomous underwater vehicle (AUV) that can conduct offshore platform debris surveys to identify seabed clearance and potential debris was recently inaugurated by Saudi Aramco. Cost-effective and flexible The AUV, which can also conduct offshore

(Muscat Daily - 27/12/2017)

Bank Muscat board of directors and Meethaq Sharia’a supervisory board led by respective chairmen Shaikh Khalid bin Mustahail al Mashani and Sheikh Dr Ali Qaradaghi held a meeting to review the 2017 performance and growth strategy for 2018 of Meethaq.

Oman Arab Bank appoints acting CEO
(Times of Oman - 27/12/2017)

The Board of Directors of Oman Arab Bank (OAB) has announced its endorsement of the CEO Amin Al Husseini’s recommendation to appoint his Deputy Rashad Al Musafir as acting CEO effective from February 1, 2018. The appointment is aligned with the Bank’s

MCDC IPO mops up OMR122m, finalises allotment
(Times of Oman - 27/12/2017)

Muscat City Desalination Company (MCDC), which closed its OMR6.5 million-initial public offering (IPO) on December 18, has attracted a whopping OMR122 million from investing public and institutional investors on the Muscat bourse. This indicates a heavy

Tabreed, Masdar sign service deal
(The Gulf Today - 27/12/2017)

The National Central Cooling Company, Tabreed, and Abu Dhabi’s renewable energy company, Masdar, on Tuesday announced that they have signed a service agreement to operate Masdar’s first district cooling plant with operations underway. Under the

du announces VAT registration for customers
(The Gulf Today - 27/12/2017)

Ahead of the nationwide implementation of the Value Added Tax (VAT) in the UAE, du has launched a simple online process to collect customers official Tax Registration Numbers, as issued by the Federal Tax Authority. Tax Registration Numbers will be

UPAC signs $165m loan to finance Abu Dhabi mall
(Trade Arabia - 26/12/2017)

Kuwait-based United Projects for Aviation Services Company (UPAC), a top real estate firm, has signed a five-year KD 50.1 million ($165.4 million) loan facility agreement to finance its investment in Abu Dhabi’s Reem Mall, a report said. The agreement

Savola Foods launches ‘IQTIDA’A’ program with INSEAD
(Saudi Gazette - 26/12/2017)

SAVOLA Foods Company, one of Savola Group companies, has launched its Executive Leadership Development Program named “IQTIDA’A” in partnership with INSEAD Business School. IQTIDA’A, the first program of its kind launched by the company, that will

Muscat Capital launches Al Masha’ar Fund to invest in real estate
(Muscat Daily - 26/12/2017)

Muscat Capital, the Saudi-based investment banking subsidiary of Bank Muscat, announced the successful closure of its first real estate investment traded (REIT) fund. The SAR572mn new Al Masha’ar Fund has been launched with an objective to invest in high

ENBD REIT buys retail centre for Dh210m in Dubai
(The National - 26/12/2017)

acquired a retail centre in Dubai for Dh210 million as part of plans to diversify its rental income and portfolio. The REIT bought the centre in Silicon Oasis from Souq Extra, which launched the development in January, it said in a statement on Nasdaq

Saudi Arabia's Jadwa REIT acquires two properties in Makkah
(The National - 26/12/2017)

Saudi Arabia's Jadwa REIT Al Haramain has acquired two properties, doubling its portfolio as the sharia-compliant real estate investment fund looks to build the number of properties under management in the holy cities of Makkah and Madinah. The real

Alawwal Board Recommends 2.5 percent for year 2017
(Tadawul - 26/12/2017)

The Board of Directors of Alawwal Bank resolved on 25-12-2017 to recommend to the shareholders General Assembly, which will be held in the first half of 2018, to distribute a cash dividend of SAR 0.25 per share net of zakat for the financial year 2017,

Alizz Islamic Bank wins best sukuk deal of the year award at GIFA 2017
(Muscat Daily - 26/12/2017)

Alizz Islamic Bank recently won the award for ‘Best Sukuk Deal 2017’ at the seventh Global Islamic Finance Awards 2017 (GIFA) held in Astana, Kazakhstan. The award was received on behalf of the bank by Mustafa al Lawati, head of investment banking,

Bank Nizwa opens new branch in Al Mabela
(Times of Oman - 26/12/2017)

Expanding the reach of Islamic banking in the Sultanate, Bank Nizwa opened its twelfth branch in Oman in Al Mabela to further drive the sector’s rapid growth and penetration across the country. Officially inaugurated under the patronage of Sheikh Ibrahim

Omantel partners with SAP to provide cloud implementation
(Oman Daily Observer - 26/12/2017)

Omantel has signed a first-of-its-kind strategic agreement with enterprise software and business solutions provider SAP for Oman-based managed cloud implementation. This arrangement enables Omantel to offer locally present managed cloud implementations,