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Saudi petchems firm to set up Dh1.54bn South Korean plant
(The National - 25/06/2018)

Saudi Arabia's Advanced Petrochemical Company signed an agreement with South Korea's PolyMirae through its subsidiary to set up a $420 million (Dh1.54 billion) polypropylene plant through a joint venture.<br/><br/> The Saudi firm's South Korean chemical

KHCB sponsors the activities of the Bahrain Sports Federation for Disabilities
(Biz Bahrain - 25/06/2018)

Khaleeji Commercial Bank (KHCB), one of the leading Islamic banks in the Kingdom of Bahrain, has announced its sponsorship of the events and activities of the Bahrain Sports Federation for Disabilities, as part of its firm commitment to its social

RakBank, Xpress Money partner for payment service
(Trade Arabia - 25/06/2018)

RakBank, a leading bank in the UAE, has partnered with Xpress Money, a major money transfer brand, to offer convenient money transfer services to RakBank customers through the bank’s remittance service RAKMoneyTransfer (RMT).<br/><br/> The bank’s money

KFH-Bahrain inks financing deal with Ibn Khuldoon
(Trade Arabia - 25/06/2018)

Kuwait Finance House – Bahrain (KFH-Bahrain), a top Islamic banking services provider, will finance the construction of new buildings at Ibn Khuldoon National School, following the recent agreement signed between the two parties.<br/><br/> The signing

Fitch upgrades outlook of Doha Bank to stable
(Gulf Times - 24/06/2018)

Fitch Ratings has upgraded the outlook of Doha Bank from negative to stable and affirmed the long-term Issuer Default Ratings (IDR) at ‘A’, it was announced in a statement. <br/><br/> “The upgrade to stable follows the revision of the Qatari sovereign’s

Bahrain Islamic relaunches premium banking services
(Trade Arabia - 24/06/2018)

Bahrain Islamic Bank (BisB) has announced the relaunch of its Al Thuraya Premium Banking Services with a selection of new unique features tailored to cater to the needs of High Net Worth Individuals (HNWIs) as part of its ongoing commitment to the

Barwa Bank and International Bank of Qatar in advanced merger talks
(The Peninsula - 21/06/2018)

Qatari lenders Barwa Bank and International Bank of Qatar are in advanced talks to merge after discussions for a three-way merger with another bank collapsed last week, sources told Reuters on Wednesday.<br/><br/> The proposed merger between the two

Aldar picks Marriott to manage Abu Dhabi luxury hotel
(Trade Arabia - 21/06/2018)

Aldar Properties, a leading developer in Abu Dhabi, UAE, said it has signed up global hospitality giant Marriott International to manage one of its most strategically located hotels on Yas Island.<br/><br/> The move comes as part of Aldar's active asset

SABIC takes part in IFA Conference in Berlin
(Saudi Gazette - 20/06/2018)

SABIC participated in the 86th annual conference of the International Fertilizer Association (IFA) in Berlin on June 18-20 as the Gold sponsor to underline the vital role played by the company in meeting the global demand for high-quality agri-nutrient

Air Arabia appoints advisors to evaluate future of Abraaj investment
(The National - 20/06/2018)

Air Arabia, the Sharjah-based low-cost carrier, said it appointed advisors to protect its investment in ailing private equity firm Abraaj Group, which last week filed for provisional liquidation.<br/><br/> Dubai-listed Air Arabia, which holds an

Bank Muscat wins Best Trade Finance Provider in Oman award
(Oman Daily Observer - 20/06/2018)

Bank Muscat, the flagship financial services provider in the Sultanate, has won the ‘Best Trade Finance Provider in Oman’ award by Deutsche Bank. The bank won two awards for its Global Trade Services and Global Financial Institutions departments in

Bank ABC wins CBB nod for share price liquidity
(Trade Arabia - 20/06/2018)

Bank ABC, a leading player in the region’s banking industry, said it has obtained approval from the Central Bank of Bahrain (CBB) to appoint a market maker for enhancing the liquidity of its share trading on the Bahrain Bourse.<br/><br/> This arrangement

Emirates NBD signs Amwal for clearing services
(Trade Arabia - 20/06/2018)

Emirates NBD, a leading bank in the region, has announced that UAE-based Amwal Brokerage has signed up as trading member to avail the bank’s settlement and clearing services.<br/><br/> Following approval by the Securities and Commodities Authority (SCA)

Air Arabia share prices plunge to 11-month lows
(Gulf News - 19/06/2018)

Air Arabia’s share prices plunged over 7 per cent on Monday, reaching their lowest level in 11 months as the carrier confirmed it has investments with Abraaj, the private equity group that filed for liquidation.<br/><br/> Air Arabia was the most actively

Acwa Power named preferred bidder for UAE IWP
(Trade Arabia - 19/06/2018)

A consortium led by Saudi-based Acwa Power and Tecton Engineering and Construction has emerged as the preferred bidder for a 45 million imperial gallons per day sea water reverse osmosis (SWRO) desalination independent water project in the UAE emirate of

Etisalat launches Mena’s first Apple Watch Series 3
(The Gulf Today - 17/06/2018)

Etisalat announced the launch of the Mena region’s first Apple Watch Series 3 (GPS +Cellular), with smart pay offers.<br/><br/> Apple Watch Series 3 comes in two models, one with GPS and cellular, and one with GPS, both featuring a 70 per cent faster

UAE's NBF looks to set up debt programme to fund growth plans
(The National - 14/06/2018)

The National Bank of Fujairah, which counts the emirate's government and Investment Corporation of Dubai among its shareholders, plans to set up a debt programme and regularly tap international capital markets from next year to fund future

QIB to open all mall branches from second day of Eid
(The Peninsula - 14/06/2018)

Qatar Islamic Bank (QIB) has announced that all its mall branches will open their doors starting from the evening of the second day of Eid Al Fitr, to serve customers.<br/><br/> The branches include Al Gharafa (Q-Mall), City Centre, Dar Al Salam Mall,

Arabtec subsidiary awarded Dh117m project from Emaar
(Gulf News - 14/06/2018)

Arabtec Holding said that its wholly-owned subsidiary, Emirates Falcon Electromechanical Co. (EFECO) was awarded a Dh117 million project contract by Emaar Properties.<br/><br/> The contract is for mechanical, electrical, and plumbing works of the Creek

Nakheel gets $177m lowest bid for Dragon City towers
(Trade Arabia - 14/06/2018)

Master developer Nakheel said it is assessing 11 proposals, with the lowest bid seen at just under Dh650 million ($177 million), for the construction of Dragon Towers, its twin-building residential complex at the rapidly-expanding Dragon City community

KIB successfully closes $250mn syndicated Murabaha facility
(Arab Times - 14/06/2018)

KIB has successfully closed a US$ 250 million 3-year Syndicated Murabaha Financing Facility with a consortium of international and local banks, which was oversubscribed. Standard Chartered Bank was the sole Coordinating Bank, while First Abu Dhabi Bank

Alinma Bank announces branches open during Eid Holiday
(Saudi Gazette - 13/06/2018)

Alinma Bank has announced that a number of its branches will remain open during the upcoming Eid Al-Fitr holiday to serve its customers. From Wednesday (June 13) through Thursday (June 21) the bank’s Takhassusi, Aziziyah, and Nahdha branches in Riyadh;

Saudi Aramco eyes partnerships as it expands refining, petrochems
(Arab News - 13/06/2018)

Saudi Aramco plans to boost investments in refining and petrochemicals to secure new markets for its crude, and sees growth in chemicals as central to its downstream strategy to lessen the risk of a slowdown in oil demand.<br/><br/> Aramco, the world’s

QINVEST records $858m of completed exits
(The Peninsula - 13/06/2018)

QINVEST, Qatar’s leading private investment group and one of the region’s most prominent Islamic financial institutions, yesterday announced the successful exit of a real estate mezzanine murabaha transaction in the US.<br/><br/> The transaction, backed

Nakilat signs deal with Excelerate Energy-USA for first FSRU vessel
(The Peninsula - 13/06/2018)

Nakilat achieved another historical milestone yesterday with the signing of an agreement with Excelerate Energy- USA, to establish a joint-venture company and acquire a 55 percent interest in a floating storage regasification unit (FSRU), the first such

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