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Saudi Re is pleased to announce that Lloyd's has granted approvals
(Tadawul - 27/09/2017)

Following announcement on 30-07-2017, with respect to Saudi Re announcing signing off a Shareholder Agreement with Probitas Holdings (Bermuda) Limited (PHBL), through which Saudi Re will purchase 49.9% of the ordinary shares of PHBL, Saudi Re is pleased

eXtra announces the opening of 9th store in Riyadh
(Tadawul - 27/09/2017)

United Electronics Company (eXtra) announces the opening of its ninth Branch in Riyadh, bringing the total numbers of eXtra stores to Forty Three in GCC. Extra CEO Mr. Mohammed Galal said (we are assured that our Company is working according to a clear

Bank Sohar closes OMR100m bond issue
(Times of Oman - 27/09/2017)

Bank Sohar’s OMR100 million bond issue, which closed subscription recently, was oversubscribed. The bank had offered up to 100,000 perpetual bond, Additional Tier I Capital Instruments on a private placement basis, at a price of OMR1,000 per capital

Investcorp presses ahead with its strategy of growth
(Biz Bahrain - 27/09/2017)

Mohammed Al-Shroogi, Co-CEO at Investcorp, a leading provider and manager of alternative investment products, confirmed today that the Firm is well positioned to deliver on its ambitious strategy of growth following the strong set of results reported in

Batelco Gold Sponsor of Amazon Web Services First Middle East Summit i
(Biz Bahrain - 27/09/2017)

Batelco, Bahrain’s leading digital solutions provider was very pleased to be the gold sponsor for Amazon Web Services’ (AWS) first Middle East Summit in Bahrain which took place at the Four Seasons Hotel on September 25th. The major event brought

GFH’S credit ratings and ‘stable’ outlook affirmed
(Saudi Gazette - 27/09/2017)

GFH Financial Group (GFH) announced Tuesday that Capital Intelligence Ratings (CI Ratings), the international credit rating agency, has affirmed its Long-Term Rating at ‘BB’ and the Short-Term Rating at ‘B’. The Outlook for GFH’s ratings remains

Abu Dhabi Commercial Bank’s Ratings Affirmed, with a ‘Stable’ Outlook
(Press Release - 26/09/2017)

Capital Intelligence Ratings (CI Ratings or CI), the international credit rating agency, today announced that it has affirmed the Financial Strength Rating (FSR) of Abu Dhabi Commercial Bank (ADCB) at 'A'. The Bank's strong capital adequacy ratio (CAR),

GFH Financial Group’s ratings affirmed with a ‘Stable’ Outlook
(CPI Financial - 26/09/2017)

Capital Intelligence Ratings (CI Ratings or CI), the international credit rating agency, today announced that it has affirmed GFH Financial Group’s (GFH or the Bank) Long-Term Rating at ‘BB’ and the Short-Term Rating at ‘B’. The Outlook for GFH’s ratings

Jamal Bin Ghalaita named ‘Islamic Bank CEO of the Year’
(Press Release - 26/09/2017)

Jamal Bin Ghalaita, CEO of Emirates Islamic, was honored as the ‘Islamic Bank CEO of the Year’ at the Global Islamic Finance Awards (GIFA) 2017. The award recognizes the strategic drive of Emirates Islamic to become one of the leading Shari’a compliant

Arabtec subsidiary wins Dh196 million Emaar project
(The National - 26/09/2017)

Arabtec Holding, the UAE’s top-listed contractor, said its wholly-owned subsidiary Target Engineering Construction Company (Target) won a Dh196 million construction deal for a project in Dubai’s Downtown area. The contract awarded by Emaar Properties,

Saudi finance minister tells investors Aramco IPO to go ahead in 2018
(Reuters - 26/09/2017)

Saudi Finance Minister Mohammed al-Jadaan told bond investors during a presentation on Monday that the initial public offering of Saudi state oil giant Aramco will proceed as planned in 2018, sources familiar with the matter told Reuters. Aramco has

FCA Defends Listing Plans Ahead of Aramco IPO
(Reuters - 26/09/2017)

Britain's financial watchdog on Monday defended plans to relax rules on listing state companies which corporate governance groups say could leave investors with less protection. The FCA in July proposed a new listing category for companies controlled by

Mobily offers latest ICT solutions for small and medium enterprises
(Arab News - 26/09/2017)

Etihad Etisalat (Mobily) announced it is offering the latest ICT solutions at low costs for small and medium enterprises. These include network, communication, mobility and cloud computing services. “Mobily Business offers a wide range of ICT services

CEO of Saudi fertz giant Ma'aden confident about prospects
(ICIS - 26/09/2017)

Saudi Arabian Mining Company (Ma'aden) will diversify its fertilizer portfolio and continue to work with foreign partners on new projects as feasibility studies into another phosphates plant progress, President and CEO, Khalid bin Saleh Al-Mudaifer

Bank Albilad announces 1st Half 2017 cash dividend distribution
(Tadawul - 26/09/2017)

The Board of Directors of Bank Albilad has decided on 05/01/1439H corresponding 25/9/2017 the distribution of dividend to the shareholders for the first half of the year 2017 as following: 1.Total amount of distribution of dividend SAR 180 Millions

Creditors tell High Court that Dana Gas sukuk get-out is "absurd"
(Reuters - 26/09/2017)

A claim by Dana Gas that it does not have to pay back its Islamic bonds because they are no longer sharia-compliant is “absurd” as repayment under such a scenario is covered in the original paperwork, creditors told a London High Court. United Arab

The $101 Million syndicated Murabahah financing facility for BIsB
(CPI Financial - 26/09/2017)

Speaking at the signing ceremony, Bahrain Islamic Bank’s Chief Executive Officer, Mr. Hassan Jarrar, stated. “We are pleased with the positive response from our partner banks in Bahrain, the region and Europe.” Bahrain Islamic Bank B.S.C. (BisB) has

Du joins Amazon Web Services network
(Trade Arabia - 26/09/2017)

UAE-based telecoms service provider du said it has joined the Amazon Web Services Partner Network (APN) to accelerate access to the cloud for enterprises across the UAE. With this move, du’s enterprise customers will now get rapid access to Amazon Web

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