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Sadafco remains financially sound despite onerous market conditions
(Saudi Gazette - 31/05/2018)

Despite the decline in consumer spending and aggressive price strategies of competition, Saudia Dairy and Foodstuff Company (Sadafco) announced a net profit of SR260 million during the 12-month period ending March 31, 2018.<br/><br/> Strong working

Doha Bank offers new mega prize of QR2m
(The Peninsula - 31/05/2018)

Doha Bank yesterday announced launch of a new mega prize of QR2m to double the reward for its customers. The bank is looking forward to another prosperous year for all its clients and customers.<br/><br/> The announcement was made as the lender hosted a

Batelco donates to support Dar Al Manar Centre
(Biz Bahrain - 31/05/2018)

Batelco, one of the Kingdom’s foremost philanthropic companies, has presented a donation cheque to Dar Al Manar Centre, to support elderly members of the community.<br/><br/> Batelco General Manager Human Resources Faisal Al Jalahma presented the cheque

Sohar Power Co to appeal CMA decision
(Oman Daily Observer - 31/05/2018)

Sohar Power Company SAOG, which owns and operates a major Independent Water and Power Project located within the industrial port at Suhar, has said that it will appeal a censure by the Capital Market Authority (CMA) which has held the company in breach

Foundation work set at Damac’s AYKON City
(The Gulf Today - 31/05/2018)

Damc Properties has confirmed the completion of the raft foundation work for tower B at AYKON City, its multi-tower master development. The setting of the major foundation saw over 200,000 cubic feet of concrete poured within a 24-hour period, the same

Ooredoo extends managed services to support Qatar’s business competitiveness
(Gulf Times - 30/05/2018)

Ooredoo has extended its managed services that aim to support Qatar’s business competitiveness for the country’s public and private sector organisations with international presence.<br/><br/> As part of the new capabilities, Ooredoo and its partners are

QIMC acquires foreign partner’s 33.33% stake in QPPC
(The Peninsula - 30/05/2018)

Qatar Industrial Manufacturing Company (QIMC) yesterday announced to have acquired the ‘Foreign Partner’s’ stake in Qatar Plastic Products Company (QPPC). With the acquisition of shares in the company, QIMC will now be a majority stakeholder in

Emirates NBD to launch region’s first digital kiosks
(Gulf News - 30/05/2018)

Emirates NBD said on Tuesday it will soon launch the region’s first integrated digital kiosks, which will function like a branch, allowing customers to sign up for products and access teller services.<br/><br/> Emirates NBD said it has partnered with

NBK leads the way in partnership with RippleNet
(Arab Times - 30/05/2018)

The National Bank of Kuwait (NBK) continues to introduce innovative and the newest technology solutions to meet the needs of customers, having partnered with RippleNet to offer customers a fast, safe and convenient cross-border payments service, and

Bank Muscat wins prestigious award
(Times of Oman - 29/05/2018)

Bank Muscat, the flagship financial services provider in the Sultanate, in recognition of its outstanding achievements, has won the prestigious "Global Investor MENA Broker of the Year for Commodities" Award for 2017.<br/><br/> Abdullah Al Hinai, General

QIB & QPAY launch Qatar’s first Islamic PoS solution
(The Peninsula - 29/05/2018)

Qatar Islamic Bank (QIB) has signed an agreement with Qatar’s largest Fintech Company—QPAY International— to launch the first Islamic point of sale (PoS) solution in Qatar.<br/><br/> Under this agreement, QPAY, a Qatar-based company offering a wide

Bahrain Islamic Bank (BisB) organizes its third town hall for its employees
(Biz Bahrain - 29/05/2018)

In line with its commitment to continually enhance internal communication and provide its employees with the latest developments across all of the Bank’s departments; Bahrain Islamic Bank (BisB), the leading provider of Sharia compliant integrated

Investcorp grows residential & industrial real estate portfolios
(Biz Bahrain - 29/05/2018)

Investcorp, a leading provider and manager of alternative investment products, announced that its U.S. based real estate arm invested in four individual rental apartment communities with 1,573 units and a student housing complex for a total purchase

Alba celebrates fabrication of Line 6 pot shells
(Trade Arabia - 29/05/2018)

Aluminium Bahrain’s (Alba) chief executive officer, Tim Murray, paid a scheduled visit to Ahmed Mansoor Al Aali (AMA Group), one of the major Bahraini contractors for its Line 6 Expansion Project, to celebrate the successful fabrication of 427 pot

Dana Gas gets $40m payment from Egypt
(Trade Arabia - 29/05/2018)

Dana Gas, a leading regional natural gas company in the Middle East, has received $40 million from the Egyptian government towards paying down its receivables.<br/><br/> With this payment, the Emirati company has till date received a total of $88.8

UAE’s Julphar eyes several Mena acquisitions
(The National - 28/05/2018)

Julphar is looking at several mergers and acquisitions across the Middle East and African markets and may announce its first deal as soon as the third quarter of this year.<br/><br/> “We are working on several M&A transactions and we are pursuing [them]

Alizz Islamic Bank signs pact with trade union body
(Times of Oman - 28/05/2018)

Reinforcing its position as Oman's most dynamic and innovative Islamic banking institution, Alizz Islamic Bank recently signed a memorandum of understanding (MoU) with the General Federation of Oman Trade Unions (GFOTU) to provide bank benefits and

Saudi dairy firm Almarai plans $2.8b 5-year capital investment
(Gulf News - 28/05/2018)

Saudi Arabia’s Almarai, the Gulf’s largest dairy company, plans to spend 10.6 billion riyals (Dh10.4 billion, $2.8 billion) in capital investment under a five year business plan aimed at boosting its efficiency and expanding its geographic

Dubai Islamic Bank donates $4m to Sharjah charity
(Trade Arabia - 28/05/2018)

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has donated Dh15 million ($4.08 million) of Zakat money to Sharjah Charity International, said a report.<br/><br/> Abdul Razzaq Al Abdullah, head of Community Services Department at DIB,

Halliburton wins Aramco’s unconventional gas contract
(Trade Arabia - 28/05/2018)

Saudi Aramco, a global leader in energy and chemicals, has signed the Unconventional Gas Stimulation Services contract with Halliburton, a US-based oil field services company to further improve Aramco’s Unconventional Resources Program.<br/><br/> The

AUB launches digital partnership with Ajar Online
(Arab Times - 28/05/2018)

Ahli United Bank (AUB) has announced an exciting new partnership with Ajar Online to enhance the growth of rent payments to be made through digital channels. The service provides convenience to tenants in making their rental payments fast and secure,

KIC to study financing options for ‘strategic projects’ of KPC
(Arab Times - 28/05/2018)

The Kuwait Petroleum Corporation (KPC) has signed a contract with the Kuwait Investment Company (KIC) to present a study on the optimal financing options for the strategic projects of the Corporation within the five-year plan which extends to 2040. The

ADNOC receives interest in downstream business plans
(Saudi Gazette - 27/05/2018)

THE Abu Dhabi National Oil Company (ADNOC) has said it is receiving considerable interest from potential partners, as it explores a range of new growth options and initiatives to accelerate the delivery of its recently announced downstream strategy. The

Vuclip partners with Omantel to provide video services
(Times of Oman - 27/05/2018)

Vuclip, a PCCW Media Company and the leading premium video-on-demand service provider for emerging markets, and Omantel, the country’s first telecommunications company, have partnered. Vuclip will provide Viu, its leading OTT video service, to Omantel

QIIB extends support to Qatar Academy
(The Peninsula - 27/05/2018)

A team of Qatar Academy’s outstanding students will be flying to Addis Ababa, Ethiopia, in October to prepare select students of Lebawi Academy (International Leadership Academy of Ethiopia - ILAE) for the upcoming ‘THIMUN Qatar Conference’ to be held

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