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Etisalat wins GCC Initiative award 2018
(Saudi Gazette - 31/10/2018)

Etisalat has achieved yet another milestone with the latest recognition and award, ‘Best Nationalisation Initiative in the GCC’, among its regional peers in the private sector. <br/><br/> The award was announced at the 6 th GCC Government Human Resources

NBO sponsors National Open Data Symposium
(Times of Oman - 31/10/2018)

Reinforcing the partnership between the public and private sectors, the National Bank of Oman (NBO) sponsored the recently held National Open Data Symposium under the patronage of His Highness Sayyid Haitham bin Tariq Al Said, Minister of Heritage and

Bank Sohar’s Q3 net grows more than 15 per cent
(Oman Daily Observer - 31/10/2018)

Bank Sohar has posted RO 21.940 million in net profits for the first nine months of the year, a 15.62 per cent raise on its performance throughout the same period in 2017. The bank’s total operating income increased by 26.93 per cent from RO 54.871

Emirates Islamic posts 32% increase in Q3 profit at Dhs657m
(The Gulf Today - 31/10/2018)

Emirates Islamic Bank has delivered a strong set of financial results for the period ending September 30, 2018. The bank’s net profit increased by 32 per cent y-o-y reaching Dhs657 million, and total income (net of customers’ share of profit and

Tabreed raises $500m with new 7-year sukuk
(The Gulf Today - 31/10/2018)

National Central Cooling Company (Tabreed) on Tuesday announced it has successfully raised $500 million (Dhs1.8 billion) with a fixed rate senior unsecured US dollar denominated RegS sukuk with a 7-year tenor. The issue follows a series of fixed income

Emirates NBD 9-month profits soar 24pc to $2.1bn
(Trade Arabia - 31/10/2018)

Emirates NBD, a leading bank in the region, delivered a strong set of results for the first nine months of this year with net profit growth of 24% year-on-year to Dh7.7 billion ($2.1 billion). <br/><br/> Net interest income increased 19% year-on-year due

Al-Hokair Group family entertainment centers empowering women
(Saudi Gazette - 30/10/2018)

Al-Hokair Group for Tourism and Development has hired a number of Saudi women across its entertainment centers in the central, eastern, western and southern regions and in the city of Madinah as site supervisors. <br/><br/> These employees started as

Aamal reports 9-month net profit of QR338.3mn
(Gulf Times - 30/10/2018)

Aamal Company, one of the region’s fastest-growing diversified companies, has reported net profit of QR338.3mn on revenues of QR953.1mn during the first nine months of this year.<br/><br/> The company’s net underlying profit margins have increased by 2.1

QFB posts QR425.5mn loss
(Gulf Times - 30/10/2018)

Qatar First Bank said it recorded a net loss of QR425.5mn at the end of the third quarter in September. Ayman Zaidan, QFB head (Treasury and Investment Management) said, “After a challenging nine months with global and regional headwinds, QFB recorded a

Ooredoo Group announces QR23bn in revenue
(The Peninsula - 30/10/2018)

Ooredoo reported QR22.8bn in revenue for the nine months ended September 2018, driven by strong contributions from Qatar, Kuwait, Oman, Iraq and Myanmar, offset by reductions in Indonesia and Algeria.<br/><br/> Group Revenue before the Foreign Exchange

MPHC net profit surges to QR1bn
(The Peninsula - 30/10/2018)

Mesaieed Petrochemical Holding Company (MPHC), a subsidiary of Qatar Petroleum and one of the region’s premier diversified petrochemical conglomerates, reported a net profit of QR1bn for the period ended September 2018, outperforming the net profit of

Ezdan Holding Group posts QR463m net profit
(The Peninsula - 30/10/2018)

Ezdan Holding Group has announced its interim financial results for the period ended September 2018. The Group declared a net profit of QR463m for the period, down from QR1.41bn for the corresponding period last year.<br/><br/> The Group’s earnings per

Bank Muscat launches new version of bm Offers App
(Oman Daily Observer - 30/10/2018)

Bank Muscat, the flagship financial services provider in the Sultanate, in line with its vision ‘To serve you better, everyday’ and commitment to innovation reflecting the latest technological trends in banking, has launched a new version of its mobile

KHC names Saudis for two key positions
(Trade Arabia - 30/10/2018)

Kingdom Holding Company (KHC) has appointed two Saudi professionals for two senior positions in the company.<br/><br/> Adel Bin Abdulaziz Alabdulsalam has been appointed as executive director for finance and administration, while Nada Bint Saleh

Alba signs long-term supply deal with Fluorsid
(Trade Arabia - 30/10/2018)

Aluminium Bahrain (Alba), the Bahrain-based aluminium smelter, said it has secured a long-term agreement with Fluorsid, a leading producer of fluorochemicals based in Italy, for the supply of smelter grade Aluminium Fluoride (ALF3).<br/><br/> The

Burgan Bank Group 9-month profits up 32pc to $235m
(Trade Arabia - 30/10/2018)

Burgan Bank Group reported a net income of KD71 million ($235 million) for the first nine months of this year, with a year on year growth of 32 per cent. <br/><br/> The bank registered KD20.5 million ($68 million) profit for the third quarter, a growth

Zain to offer Huawei Cloud services in Mena
(Trade Arabia - 30/10/2018)

Zain Group, the leading mobile telecom innovator in eight markets across the Middle East and Africa, has been selected by Huawei, a leading global provider of information and communications technology (ICT) infrastructure and smart devices, to become a

Dur Hospitality honors graduates of ‘Tahseen’ Program
(Saudi Gazette - 29/10/2018)

Dur Hospitality participated in the graduation ceremony held at the Ritz-Carlton Hotel to honor the first intake of students who enrolled in the “Tahseen” program, a unique hospitality leadership training program which aims at supporting and developing

Ahli United Bank and KFH say merger talks 'still ongoing'
(The National - 29/10/2018)

Ahli United Bank, the Bahraini lender, and Kuwait Finance House are still in discussions for a potential merger, which would create a new Islamic entity with $92 billion (Dh337.6bn) in combined assets.<br/><br/> The two parties signed a preliminary and

Sabic posts 5.4% increase in third quarter net profit, beating estimates
(The National - 29/10/2018)

The biggest petrochemical producer in the Middle East, Saudi Basic Industries (Sabic), posted a 5.4 per cent increase in third-quarter net profit due to higher average selling prices and an increase in sales volumes, beating analysts’

QNB set to finance 65% of Qamco IPO subscriptions of its Qatari customers
(Gulf Times - 29/10/2018)

QNB, the largest financial institution in the Middle East and Africa, will finance subscriptions to the QR2.73bn initial public offering (IPO) of Qatar Aluminum Manufacturing Company (Qamco).<br/><br/> “The bank will finance 65% of the total value of

Barwa Real Estate posts net profit of QR1.08bn
(Gulf Times - 29/10/2018)

Barwa Real Estate Group has posted a net profit of QR1.08bn at the end of third quarter that ended in September this year. The company’s earnings per share (EPS) stood at QR2.78 at the end of Q3. In the same period last year, Barwa had registered a net

Bank Nizwa net profit surges 97% in third quarter
(Times of Oman - 29/10/2018)

Bank Nizwa announced its 2018 third quarter financial results, registering another strong performance across its operations in Oman’s banking sector. The bank recorded 97 per cent growth in net profit after tax, to reach OMR4.6 million for the period

RAK Properties sees revenue, profit dip in 2018
(Gulf News - 29/10/2018)

RAK Properties has recorded a decline in revenues and net profits for the first nine months, totalling Dh79.17 million and Dh6.12 million. This compares to revenues of Dh269.87 million and Dh74.73 million for the same period last year.<br/><br/> Total

Sharp rise in alumina price hits Alba Q3 profits
(Trade Arabia - 29/10/2018)

Aluminium Bahrain (Alba) generated a net income of BD14.3 million ($38 million) in the third quarter of 2018 versus BD25.8 million ($68.5 million) for the same period in 2017, down by 44 per cent due to higher alumina prices (60 per cent year-on-year

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