2018 2017 2016 2015 2014 2013 2012 2011 News Archive
January February March April May
Julphar continuing to strengthen financial position
(Saudi Gazette - 21/05/2018)

JULPHAR, one of the largest pharmaceutical manufacturers in the Middle East and Africa, announced its first quarter 2018 financial results. The Ras Al Khaima company reported first quarter 2018 sales of AED264.0 million and a net profit of AED18.4

Alinma named fastest growing bank for sixth time in 10 years
(Saudi Gazette - 21/05/2018)

FOR the sixth time in its 10-year history, Alinma Bank has been named the fastest growing bank in Saudi Arabia. This most recent accolade was bestowed upon the bank by Banker Middle East magazine at a special awards ceremony in Dubai. Alinma Bank won the

Union Properties gets shareholders' approval for Dh1bn sukuk
(The National - 21/05/2018)

Union Properties shareholders approved the developer's plans to shore up its finances through the issuance of up to Dh1 billion in sukuk and increase the company’s foreign ownership limit, as the firm continues to re-organise its business amid tough

Ezdan Holding subsidiaries get ISO 9001:2015 certification
(Gulf Times - 21/05/2018)

Ezdan Real Estate and Ezdan Mall Companies, the two subsidiaries of Ezdan Holding Group, have been awarded ISO 9001:2015 certification. The internationally recognised certification is in different domains associated with information technology, quality

Bank Sohar appoints Ahmed Al Musalmi as CEO
(Times of Oman - 21/05/2018)

Bank Sohar announced the appointment of Ahmed Al Musalmi as the new Chief Executive Officer with effect from May 20, 2018 taking over from Sasi Kumar who is leaving the bank after having served over 10 years to pursue new personal and professional

Doha Bank launches revamped Doha Sooq App
(The Peninsula - 21/05/2018)

Doha Bank has announced the launch of Doha Sooq’s enhanced App. The popular e-commerce platform, which is known as Qatar’s first and only e-mall, places 24/7 shopping, entertainment, events and sports at customers’ fingertips through a newly designed

Bank Muscat Tadhamun support reaches beneficiaries across Oman
(Oman Daily Observer - 21/05/2018)

Bank Muscat, the flagship financial services provider in the Sultanate, in line with its vision ‘To serve you better, everyday’ and commitment to partnership in social responsibility, marked the start of the Holy Month of Ramadhan with the successful

Burgan Bank marks ‘International Awareness Month of Internal Audit’
(Arab Times - 21/05/2018)

Burgan Bank, a dynamic financial institution, recently celebrated the role of the Internal Audit department to raise awareness about the profession and reward outstanding personnel. As part of its many positive initiatives to support internal growth and

Prince Alwaleed's Kingdom and Ashkenazy sue owner of New York Plaza Hotel
(The National - 20/05/2018)

Ashkenazy Acquisition and Saudi Prince Alwaleed bin Talal’s Kingdom Holding, the investors trying to buy New York’s historic Plaza Hotel, sued the property’s majority owner for allegedly reneging on an agreement that gives the group the right to match

Oman Arab Bank conducts final module of ‘LEAD 2’ programme
(Times of Oman - 20/05/2018)

In line with its continued commitment to improving the skills of its employees, the Oman Arab Bank (OAB) launched the second edition of the ‘Leadership Enhancement And Development’ (LEAD) talent programme last year. The 20 LEAD candidates have now

Adnoc eyes Asia Pacific markets with downstream expansion
(Gulf News - 20/05/2018)

Abu Dhabi National Oil Company (Adnoc)’s plans to invest $45 billion (Dh165 billion) alongside partners over the next five years to create the single largest integrated refining and petrochemicals destination in the world at Ruwais will help the UAE gain

Julphar posts Dh18.4m in first quarter net profit
(Gulf News - 18/05/2018)

Julphar, one of the largest pharmaceutical manufacturers in the Middle East and Africa, reported first quarter 2018 net profit of Dh18.4 million and sales of Dh264.0 million, after implementation of new Accounting Standard IFRS 9 and IFRS 15.<br/><br/>

Saudi developer Sreco eyes $640m capital hike
(Trade Arabia - 18/05/2018)

Al Akaria Saudi Real Estate Company (Sreco), a leading real estate developer in Saudi Arabia, said it has won approval from the company's board to double its share capital from SR1.2 billion ($320 million) to SR2.4 billion ($640 million).<br/><br/> A

Bank Muscat Izdihar's assets grows 74% to $90m
(Times of Oman - 17/05/2018)

Bank Muscat Izdihar Real Estate Fund (Izdihar) concluded its second year of operations with impressive accomplishments in both performance and growth. <br/><br/> The fund grew assets by 74 per cent reaching US$90 million and positioned itself as one of

Omantel posts net profit of OMR57.4m
(Times of Oman - 17/05/2018)

Telecommunications company Omantel registered a net profit of OMR57.4 million in 2017, the company CEO Talal Mamari announced.<br/><br/> Mamari added that the company’s net profit for the first quarter of 2018 was OMR18.1 million compared to OMR23.8

QIIB announces attractive Ramadan offers
(The Peninsula - 17/05/2018)

QIIB has announced the launch of three attractive products - personal finance, vehicle finance, and credit cards- to the customers on the occasion of the Holy Month of Ramadan. These offers are in line with the QIIB’s policy of offering flexible products

Dana Gas gets dividend of $22.75m from Pearl Petroleum
(Gulf News - 17/05/2018)

Dana Gas said on Wednesday it has received a dividend payment of $22.75 million from Pearl Petroleum in proportion of the company’s shareholding.<br/><br/> “This brings the total dividend payments received from Pearl Petroleum for the year to date to

Emirates NBD joins fintech platform
(Gulf News - 17/05/2018)

Emirates NBD has joined CCRManager, a fintech platform supporting the origination and distribution of trade assets.<br/><br/> Launched in 2017, CCRManager is a digital trade finance platform that connects various banks and financial Institutions to

BankDhofar wins ‘Best Mobile App’ from Pan Arab Web Awards 2018
(Oman Daily Observer - 17/05/2018)

In appreciation of its commitment to employ state-of-the-art technology and to ensure convenient banking experience backed with high level of security measures, BankDhofar has received the ‘Best Mobile App” from Pan Arab Web Awards 2018.<br/><br/> The

Noor Bank rings bell to celebrate listing of a USD 500 million Sukuk on Nasdaq Dubai
(Media Office Dubai - 17/05/2018)

John Iossifidis, Chief Executive Officer of Noor Bank, one of the leading Shari’a compliant banks in the UAE, today rang the market-opening bell to celebrate the listing of a 500 million US dollar Sukuk on Nasdaq Dubai.<br/><br/> The capital raised

Mobily changes network name to ‘Ramadan Kareem’
(Trade Arabia - 17/05/2018)

Etihad Etisalat (Mobily), a top telecom provider in Saudi Arabia, has ushered in the month of Ramadan by changing its network name to “Ramadan Kareem.”<br/><br/> Saudi talent at Mobily have been innovative and creative in how they engage customers on a

Adnoc, Ravago discuss chemical project collaboration
(Trade Arabia - 17/05/2018)

The Abu Dhabi National Oil Company (Adnoc) said it has signed a Memorandum of Understanding (MoU) with Ravago Group (Ravago), a leading service solutions provider in the global polymers and chemicals market, to explore opportunities for cooperation at

SABB, Alawwal in deal to create Saudi's third largest bank
(Trade Arabia - 17/05/2018)

Saudi British Bank (SABB) has reached an agreement to merge with Alawwal Bank that would create Saudi Arabia’s third-biggest bank with assets of around $77 billion.<br/><br/> One of the kingdom's leading financial institutions, SABB is 40 per cent owned

Burgan Bank wins prestigious award
(Arab Times - 17/05/2018)

Burgan Bank, a dynamic and progressive Kuwaiti bank, was recently awarded one of the best ‘Regional Problem Solver’ awards in recognition of the exceptional solutions addressing potential challenges by its respective Call Center.<br/><br/> Dedicated to

Amanat's first quarter net profit rises 10.7% on higher income from associates
(The National - 16/05/2018)

Amanat Holdings said first quarter net profit rose 10.7 per cent increase thanks to higher income from associate companies. The Dubai-listed firm said net profit attributable to equity holders rose to Dh14.4m from the year-earlier period, according to a