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January February
Dubai Investments to IPO at least 30 per cent of Emicool
(The National - 18/02/2018)

Dubai Investments, a diversified company in which sovereign wealth fund Investment Corporation of Dubai has an 11.54 per cent stake, plans to float at least 30 per cent of its district cooling unit Emicool by the end of 2018 on the Dubai Financial

Barwa Bank wins 2 titles at Global Banking & Finance Awards 2017
(Gulf Times - 18/02/2018)

Barwa Bank has won two esteemed titles at the European magazine Global Banking & Finance Awards 2017 in recognition of its service excellence and innovative efforts in the Islamic banking sector.<br/><br/> The bank was named the ‘Best Shariah-Compliant

Emaar ushers in Chinese New Year with dazzling Light Up show
(Trade Arabia - 18/02/2018)

In a historic first, leading developer Emaar Properties ushered in the Chinese New Year in Dubai with a dazzling dragon-themed ‘Light Up’ show on the iconic Burj Khalifa, joining the over 1.39 billion Chinese nationals across the world, and underpinning

Kuwait Ports Authority tells KGL to evacuate
(Arab Times - 18/02/2018)

The Director-General of the Kuwait Ports Authority (KPA), Sheikh Yousef Al-Abdullah Al-Sabah, said the Kuwait & Gulf Link Transport Co (KGL) has been notified to evacuate 270,000 square-meters of land at Doha Port which is under dispute and is seen land

Emirates Investment Bank AuM falls in 2017
(Gulf News - 16/02/2018)

Emirates Investment Bank said on Thursday its total assets under management fell 9.5 per cent to Dh10.53 billion compared to Dh11.63 billion in the year-earlier period.<br/><br/> The investment bank reported a 66.8 per cent rise in net profit to Dh56.52

Eshraq Properties swings to profit in 2017
(Gulf News - 16/02/2018)

Eshraq Properties reported a net profit of Dh32.2 million last year compared to a net loss of Dh301 million in 2016.<br/><br/> The company which is involved in the development of various projects in Abu Dhabi and Dubai said that it started the

Dana Gas creditors say they expect full repayment after court ruling
(Gulf News - 16/02/2018)

Holders of $700 million of Islamic bonds issued by UAE-based Dana Gas expect to recover all the money owed to them under the bonds’ original documentation, a committee representing the holders said on Thursday.<br/><br/> The committee issued its

Arkan posts a net profit of Dh30.2m for 2017
(Gulf News - 16/02/2018)

Arkan Building Materials Company posted a net profit of Dh30.2 million for 2017 compared to a loss of Dh82.3 million in the previous year.<br/><br/> The company attributed increase in profits to assets write off of Dh158 million taken on the closure of

RAK Properties posts 10% jump in net profit for 2017
(Gulf News - 16/02/2018)

RAK Properties reported on Thursday a 10 per cent increase in its net profit for 2017, reaching Dh192 million from Dh175 million in 2016. Revenues of the company for 2017 were at Dh313 million. Net operating profit of the Abu Dhabi listed firm increased

du announces record Dhs13 billion in revenue for 2017
(The Gulf Today - 16/02/2018)

The Emirates Integrated Telecommunications Company (du), on Thursday published its financial results for 2017 and proposed a final annual dividend payment of Dhs997 million bringing the total annual dividend for the year to Dhs0.35 per share, of which

Union Properties swings to 2017 net loss
(Trade Arabia - 16/02/2018)

Union Properties, a leading real estate developer in the UAE, has reported a net loss of Dh2.3 billion ($626 million) for the 12 months ending December 31, 2017 (equivalent to Dh0.55 loss per share) compared to a net profit of Dh211 million in the

Aldar Properties offplan sales hit $952m in 2017
(Trade Arabia - 16/02/2018)

Aldar Properties, a leading real estate developer in Abu Dhabi, UAE, said it has delivered a robust performance across its two business pillars in 2017.<br/><br/> Announcing the results for the full-year 2017, Aldar stated that its underlying gross

Gulf Navigation Holding achieves a 7% increase on its Gross Profit
(Press Release - 15/02/2018)

“Gulf Navigation Holding PJSC” announced its financial results for 2017 achieving 7% increase compared to 2016 with a gross profit of AED 49 million. This achievement comes as a result of the company’s vision and efficient strategic plans set to position

MPHC records QR1.1bn full year net profit
(The Peninsula - 15/02/2018)

Mesaieed Petrochemical Holding Company (MPHC), a subsidiary of Qatar Petroleum and one of the region’s premier diversified petrochemical conglomerates, registered a robust net profit of QR1.1bn for the year ended 31 December, 2017, outperforming its

Marka sees revenues slashed by Dh200m
(Gulf News - 15/02/2018)

Marka continued its dismal run of results on Wednesday, with revenues for 2017 plummeting by nearly 68 per cent, and net losses increasing by 44 per cent.<br/><br/> The Dubai Financial Market-listed retailer saw Dh200 million in revenue wiped from its

Russia eyes multi-million-dollar Saudi investment deals, Aramco IPO
(Gulf News - 15/02/2018)

Russia is seeking to finalise multi-million-dollar investment deals with Saudi Arabia in the next three months including partnerships with state oil giant Aramco, Russia’s top state investment officer said on Wednesday.<br/><br/> Russian banks and a

Etisalat profit amounts to Dhs8.44b in 2017
(The Gulf Today - 15/02/2018)

Etisalat Group announced the preliminary result of financial performance for the the year ended 31 December 2017. <br/><br/> Etisalat Group consolidated profit attributable to the equity holders of the company amounted to Dhs8.44 billion, exhibiting an

Adnoc Distribution revenue rises to Dhs19.8b
(The Gulf Today - 15/02/2018)

Adnoc Distribution has released its first preliminary, unaudited financial statements for financial year 2017, following their listing on the Abu Dhabi Securities Exchange in December last year.<br/><br/> Revenue increased in 2017 to Dhs19.8 billion

Emaar records Dhs5.704b profit in 2017
(The Gulf Today - 15/02/2018)

Emaar Properties recorded a net operating profit of Dhs5.704 billion ($ 1.553 billion) during full-year (January to December) 2017, a growth of 16 per cent over the FY 2016 net operating profit of Dhs4.917 billion ($1.339 billion). <br/><br/> Total

Mobily nets solid quarterly sales growth
(Trade Arabia - 15/02/2018)

Etihad Etisalat (Mobily), a leading telecom services operator in Saudi Arabia, has achieved growth in its quarterly sales for the first time in two years, realising cash flows of SR1.4 billion ($346 million), despite the net loss.<br/><br/> Announcing

Burgan Bank 2017 income tops $214m
(Trade Arabia - 15/02/2018)

Kuwait-based Burgan Bank has posted a net income of KD65.2million ($214.9 million) for the year 2017. Earnings per share reached 25.4 fils.<br/><br/> On underlying bases, net income (excluding precautionary provisions& after AT1 cost) reached KD76.2

GFH reports net profit of $104m in 2017
(Trade Arabia - 15/02/2018)

Bahrain-based GFH Financial Group (GFH), a leading financial group in the region, has posted a net profit of $104.2million for 2017, compared with net profit of $217.12 million for the previous year.<br/><br/> The company also reported a consolidated net

Drake & Scull International swings to Q4 profit
(Trade Arabia - 15/02/2018)

Drake & Scull International, a regional leader in engineering and construction services, is back in the black with a net profit of Dh700,000 ($190,549) for the fourth quarter in 2017 compared to a net loss of Dh359 million the previous quarter.<br/><br/>

Emirates NBD’s ‘Tech+Touch’ banking experience recognised at Gulf Customer Experience Awards
(Press Release - 14/02/2018)

Emirates NBD, a leading banking group in the region, was recognised for its superior customer banking experience at the recently held Gulf Customer Experience Awards 2018. <br/><br/> The Bank was commended for its high Tech + high Touch approach, which

Saudi's Mobily Q4 losses widen, customers decline
(Reuters - 14/02/2018)

Saudi Arabia’s Etihad Etisalat (Mobily), the country’s second-largest telecommunications operator, reported a widening quarterly loss on Thursday, partly blaming it on the introduction of internet calls and a decline in its customer base. Net losses more

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