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First Abu Dhabi Bank posts first-quarter gain
(The National - 30/04/2018)

First Abu Dhabi Bank (FAB), the UAE’s largest bank by assets, reported a 2 per cent year-on-year profit increase in the first-quarter, boosted by higher revenue from fees and commissions and a decline in money set aside to cover bad debt.<br/><br/> The

QFB earns revenue of QR92.3mn in Q1
(Gulf Times - 30/04/2018)

Qatar First Bank has earned a revenue of QR92.3mn in the first quarter of this year, QFB said yesterday.<br/><br/> QFB head (Treasury and Investment Management) Ayman Zaidan said, “Despite the challenging macroeconomic landscape that we faced in 2017,

Milaha reports QR260m net profit for Q1, 2018
(The Peninsula - 30/04/2018)

Qatar Navigation’s (Milaha) net profit touched QR260m for the three months ended March 31, 2018, up from QR236m recorded for the same period in 2017.<br/><br/> Milaha’s operating revenues reached QR698m in the first quarter, up from QR648m recorded in

UDC posts QR220m net profit for Q1
(The Peninsula - 30/04/2018)

United Development Company (UDC), a leading Qatari shareholding company and master developer of The Pearl-Qatar, reported a net profit of QR220m on revenues of QR528m for the first quarter of 2018 (Q1,18). The net profit attributable to the equity

SIB reports Dh143m first quarter net profit
(Gulf News - 30/04/2018)

Sharjah Islamic Bank (SIB) on Sunday reported a net profit of Dh143.1 million for the first quarter 2018, up 3 per cent compared to Dh139.1 million in the same period last year.<br/><br/> Total assets reached Dh42.4 billion at the end of the first

Du launches telecom solution for UAE enterprises
(Gulf News - 30/04/2018)

Telecom operator du announced the launch of an all-in-one telecom solution for enterprises. The Business Complete Plan is a one-stop-shop solution which includes faster broadband speeds, a business device with a discount worth up to Dh2,200, unlimited

Senior management changes at Investcorp
(Media Office Dubai - 30/04/2018)

Investcorp, a leading global provider and manager of alternative investments, today announced a series of senior management changes designed to further accelerate the firm’s growth strategy and potential.<br/><br/> The changes were in part catalyzed by

Renaissance wins RO 47.9m MoH contract
(Oman Daily Observer - 30/04/2018)

After a full competitive tender process, Ministry of Health (MoH) has awarded contracts valued at RO 47.962 million ($124.7 million) over 3 years to Renaissance Services SAOG subsidiary Tawoos Industrial Services Company SAOC (Tawoos). This award is for

Emaar Malls records Dhs548 million profit in Q1
(The Gulf Today - 30/04/2018)

Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties recorded a net profit of Dhs548 million ($149 million) during the first quarter (January to March) of 2018, similar to the net profit of Dhs539 million ($147 million)

Rakbank Group posts $56m net profit in Q1
(Trade Arabia - 30/04/2018)

The National Bank of Ras Al Khaimah (Rakbank) has announced a consolidated net profit of Dh205.1 million ($56 million) for the first quarter of 2018, thus registering an increase of Dh50.4 million over the same period last year.<br/><br/> Announcing the

Saudi developer Jabal Omar seals ADFG partnership deal
(Trade Arabia - 30/04/2018)

Jabal Omar Development Company (JODC), the largest publicly-listed real estate company in Saudi Arabia, said it has signed a partnership agreement with leading global investment group ADFG.<br/><br/> The strategic MoU enables the duo to explore

Sabic's Q1 net profit surges 5.4pc to $1.46bn
(Trade Arabia - 30/04/2018)

Saudi Basic Industries Corporation, the biggest petrochemicals producer in the Middle East, has reported a net profit of SR5.51 billion ($1.46 billion), up 5.4 per cent compared to SR5.23 billion for the same period last year.<br/><br/> Announcing the

KFH reports KD 44 million net profit for Q1, 13.9% y/y rise; EPS 7.03 fils
(Arab Times - 30/04/2018)

Chairman of Kuwait Finance House (KFH) Hamad Abdulmohsen Al-Marzouq said that KFH has, by the grace of Allah, reported net profits of KD 43.97 million for the first quarter of 2018 for KFH shareholders compared to KD 38.59 million for the same period

Saudi Aramco appoints new board members including a woman
(Arab Times - 30/04/2018)

Saudi Aramco, the world’s top oil company, has appointed five new members to its board including a woman executive, the state run company said on Sunday.<br/><br/> Saudi Arabian Minister of Finance Mohammed al-Jadaan and Minister of Economy and Planning

Commercial Bank initiative to help startups of Qatari entrepreneurs
(Gulf Times - 29/04/2018)

Commercial Bank is supporting Qatari entrepreneurs with a new initiative that puts their startup businesses on the spotlight.<br/><br/> Commercial Bank is providing space at Commercial Bank Plaza building in West Bay for Qatari entrepreneurs, startups,

Barwa Bank Q1 net profit jumps 15% to QR208.7mn
(Gulf Times - 29/04/2018)

Barwa Bank Group’s net profit jumped 15% to reach QR208.7mn in the first quarter of this year compared with the same period in 2017. Barwa Bank Group chairman and managing director Sheikh Mohamed bin Hamad bin Jassim al-Thani said, “The group has

Arab Bank Group posts $220m profit in Q1
(Trade Arabia - 29/04/2018)

Arab Bank Group has announced its results for the first quarter of 2018 reporting a net profit after tax of $220.3 million as compared to $218.2 million in 2017.<br/><br/> Announcing the Q1 results, the Jordan-based bank said its net operating income

Nakheel, Austrian group to build 600-room beachfront resort
(Trade Arabia - 29/04/2018)

UAE-based master developer Nakheel is planning a new partnership with Austria’s largest independent hotel chain, Vienna House, to build a 600-room beachfront resort at Deira Islands, thus adding yet another international hospitality brand to Dubai’s

Abu Dhabi's Al Hilal Bank unearths $136m internal fraud
(Trade Arabia - 29/04/2018)

Abu Dhabi’s Al Hilal Bank PJSC uncovered internal fraud worth more than Dh500 million ($136 million), reported Bloomberg citing people with knowledge of the matter.<br/><br/> Some employees at the Abu Dhabi state-owned Islamic lender allegedly withdrew

UAE district cooling utility Tabreed Q1 profit up 3pc
(Trade Arabia - 27/04/2018)

UAE-based National Central Cooling Company (Tabreed), a leading regional district cooling utility company, has registered a net profit of Dh78 million ($21.2 million) for the first quarter of 2018, up three per cent over Dh75.4 million ($20.5 million)

AlBaraka Türk closes $319m Murabaha financing
(Trade Arabia - 27/04/2018)

AlBaraka Türk, a pioneer in the field of interest-free banking in Turkey, has closed a syndicated Murabaha financing facility worth $319 million.<br/><br/> Arab Banking Corporation, Dubai Islamic Bank, Emirates NBD Capital, Mashreqbank, Noor Bank,

KBR wins Feed contract for big Saudi COTC complex
(Trade Arabia - 27/04/2018)

State oil giant Saudi Aramco and Sabic, a global leader in diversified chemicals based in capital Riyadh, have jointly awarded a major contract to KBR, a leading global provider of project management, and professional and engineering services in the

Drake & Scull shares drop 22% in four-day sell-off
(The National - 26/04/2018)

Shares of the Drake & Scull International on Wednesday slumped more than 9.4 per cent as investors continued to sell the stock after shareholders' proposal to raise capital through a convertible debt or selling new shares to a strategic partner were made

Bank Muscat joins hands with MetLife
(Times of Oman - 26/04/2018)

Bank Muscat, flagship financial services provider in the Sultanate, and MetLife, one of the world’s leading financial services companies, signed a 10-year agreement to offer a bouquet of innovative insurance solutions to the bank’s customers.<br/><br/>

QIMC reports QR50.8m net profit for first quarter
(The Peninsula - 26/04/2018)

Qatar Industrial Manufacturing Company (QIMC) has reported a net profit of QR50.8m for the first quarter of 2018 (Q1, 18), down from QR60.4m recorded a year ago.<br/><br/> The company’s earnings per share stood at QRs 1.07 compared to QRs 1.27 for the

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