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Bondholders push back on Dana Gas sukuk invalidation claims in London
(The National - 26/09/2017)

Sharjah-based Dana Gas sought to have US$700 million worth of Islamic bonds declared unlawful so it could avoid repaying investors next month, London’s High Court heard on Monday, a charge the company has denied. The company’s claim that a huge 2013

Drake & Scull makes management changes as part of restructuring
(The National - 26/09/2017)

Drake & Scull International (DSI) has made a series of appointments and management changes as the Dubai-based contractor pursues a capital restructuring programme. DSI hired Ziad Makhzoumi, a former chief financial officer of builder Arabtec and an

Commercial Bank looks to Asia funding in next few months
(Gulf Times - 26/09/2017)

Qatar’s third-largest lender, Commercial Bank, is considering borrowing money on the Taiwanese bond market, its group chief executive told Reuters. The plan to tap Asian markets is because Qatari banks have been locked out of Saudi Arabia, the UAE, Egypt

Investcorp announces $350m deal
(The Peninsula - 26/09/2017)

Investcorp, a leading provider and manager of alternative investment products, today announced that its US.-based real estate arm has invested in six multifamily properties in Florida and Arizona, for a total purchase price of approximately $350m. The

Mashreq Bank partners with Diebold Nixdorf
(Gulfnews - 26/09/2017)

Mashreq Bank has partnered with Diebold Nixdorf to streamline the bank’s in-branch cash cycle management processes by implementing automation technology across select UAE branches. A statement on Monday said that the cash recycling systems coupled with

Vodafone Qatar launches Smart V8 and Smart E8
(Telecompaper - 25/09/2017)

Vodafone Qatar has launched two new 4G smartphones in its Vodafone Devices range, the Smart V8 and Smart E8. Both use the latest Android Nougat operating system. Vodafone Devices are designed by the operator's in-house team. They are available in all

ADGM Partners with ADIB to enhance Abu Dhabi’s fintech ecosystem
(CPI Financial - 25/09/2017)

Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, today marked a new partnership with Abu Dhabi Islamic Bank (ADIB), a leading financial institution, to seek opportunities to collaborate and consult on initiatives to

QIB named as safest Islamic bank in Qatar
(The Peninsula Qatar - 25/09/2017)

Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank has been recognised by Global Finance as the safest Islamic Bank in Qatar and one of the safest Banks in the Middle East and Emerging Markets. Also, marking new additions to its list of achievements,

Drake & Scull announces key management revamp
(Trade Arabia - 25/09/2017)

Drake & Scull International (DSI), a leader in engineering and construction services, has announced a series of strategic appointments and changes as part of its efforts to restructuring the organisation and streamline business operations. The ongoing

CMA suspended share trading of ATHEEB
(Tadawul - 25/09/2017)

Etihad Atheeb Telecommunication Co. failed to commit to paragraph (A) of article (41) from Listing Rules which states that (An issuer must notify the Authority and the public without delay of any material developments in its sphere of activity which are

WALAA announces license renewal from SAMA
(Tadawul - 25/09/2017)

United Cooperative Assurance Company announces obtaining of Saudi Arabian Monetary Authority License renewal of practicing insurance and reinsurance activities on 01/01/1439H corresponding to 21/09/2017, for the period of three years starting on

MEDGULF resume trading after capital reduction
(Tadawul - 25/09/2017)

The Mediterranean and Gulf Insurance and Reinsurance Co. EGM held on Friday 22/09/2017 has approved the capital reduction. Thus, the fluctuation limits for The Mediterranean and Gulf Insurance and Reinsurance Co. will be based on a share price of SAR

Etisalat: iPhone 8s to hit UAE stores on Saturday, September 23
(Gulf News - 23/09/2017)

Avid Apple consumers will have to wait until later next month to order the new iPhone X but etisalat announced on Friday that it will begin offering the new generation iPhone 8 starting Saturday, September 23, at all Etisalat stores in UAE. The

HSBC Saudi Arabia leads KSA’s first accelerated bookbuild
(Arab News - 22/09/2017)

HSBC Saudi Arabia successfully led the execution of the first accelerated bookbuilding (ABB) process in the Kingdom with the sale of 16,000,000 shares in Almarai Company. The sale represents a 2 percent block of the share capital of the company. HSBC

Tawuniya offers private motor insurance program
(Arab News - 22/09/2017)

The Company for Cooperative Insurance (Tawuniya) has launched a comprehensive private motor insurance program. Al-Shamel program offers vehicle owners an insurance cover for any accidental loss or damage caused to the insured car — without an additional

It's awards season for A. Schulman and Sabic
(Plastic News - 22/09/2017)

Materials makers A. Schulman Inc. and Saudi Basic Industries Corp. each recently won awards for their customer service and for the quality of their materials. Fairlawn, Ohio-based Schulman received the 2016 Global Supplier Award from Robert Bosch GmbH.

Brand survey reveals loyalty levels among UAE banks
(Arab News - 22/09/2017)

Emirates NBD inspires more customer loyalty than other UAE banks and has the highest trust levels in the country according to a new report released on Thursday. The Bank Brands Customer Loyalty Market Research report, published by London-based Brand

London Dana Gas sukuk trial to proceed despite UAE injunction - judge
(Reuters - 22/09/2017)

A London High Court trial on the validity of $700 million (£516.61 million) sukuk issued by the UAE’s Dana Gas <DANA.AD> will proceed on Monday despite an injunction from a UAE court obtained by some shareholders. Judge George Legatt said on Monday

Saudi Govt Lifting Ban on Skype, WhatsApp Calls, but will Monitor them
(Agencies - 22/09/2017)

The Saudi government is lifting a ban on calls made through online apps such as Skype and WhatsApp on Thursday as part of its economic reforms, but a spokesman said it will monitor and censor such calls. All online voice and video call services - such as

KHC sells interest in Four Seasons Resort Langkawi in $90m deal
(Arab News - 21/09/2017)

Kingdom Holding Company (KHC) chaired by Prince Alwaleed bin Talal, recently announced that it has successfully sold its 90 percent interest in the Four Seasons Resort Langkawi, Malaysia to Leisure Ventures Pte Ltd. (LVPL), an affiliate of Hotel

TAQA controlled Oman's Sohar Aluminium gradually restarting production
(Reuters - 21/09/2017)

Oman’s Sohar Aluminium said on Wednesday it gradually restarted production on Friday after an interruption in August, and was working to return to full production as soon as possible. “Sohar Aluminium has confirmed it has re-energised the potline, and on

Banque Saudi Fransi announces the Resignation of a Board Member
(Tadawul - 21/09/2017)

Banque Saudi Fransi announces that BSF Board Member, Mr. Francois Jean MARION (non executive) has resigned from the Board of Directors on 20/9/2017 for personal reasons. <BR Mr. MARION resignation has been accepted on 21/9/2017 with effect from

STC announcement regarding its mobile frequency licenses
(Tadawul - 21/09/2017)

Reference to the announcement of the Saudi Telecommunications Company published on Tadawul website on 13/9/1438 H corresponding to 8/6/2017AD regarding obtaining the notification by the Communications and Information Technology Commission on 12 Ramadan

Emirates NBD most trusted lender in UAE
(The National - 21/09/2017)

Emirates NBD, Dubai’s biggest bank by assets, is the most trusted local lender in the UAE and has the most loyal customers, according to a survey by Brand Finance Banking. Bank clients surveyed by Brand Finance Banking, based in the UK, found that 74.6

SRMG to launch ‘Bloomberg Al-Arabiya’ network
(Al Arabiya - 21/09/2017)

Saudi Research and Marketing Group (SRMG) today said it has entered a long-term agreement with US-headquartered media firm Bloomberg to launch a multi-platform Arabic-language business and financial news service. SRMG — publisher of Asharq Al-Awsat, Arab

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