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Nakheel opens Dh60m retail Pavilion at Badrah
(Gulf News - 23/07/2018)

Property developer Nakheel on Sunday announced the completion of a new Dh60 million retail Pavilion at Badrah in Jebel Ali. The new retail complex, operated by Nakheel Malls, will offer more than 800 households at its Badrah and Veneto communities a host

DIB launches new Skywards co-brand credit cards
(Gulf News - 23/07/2018)

Dubai Islamic Bank (DIB) has partnered with Emirates Skywards to launch new credit eards tailored specifically to offer exceptional value to the country’s growing community of frequent flyers.<br/><br/> The Emirates Skywards DIB Credit Cards are

UDC finalises construction of Al Mutahidah Towers’ connecting bridge
(The Peninsula - 23/07/2018)

United Development Company, a leading Qatari shareholding company and master developer of The Pearl-Qatar, has marked another milestone in the development of Al Mutahidah Towers with the construction of the residential towers’ connecting bridge, the most

Kuwait consumer spending rebounds in June: NBK
(Trade Arabia - 23/07/2018)

Kuwait’s consumer spending index increased 8.5 per cent year-on-year (y/y) in June, supported by a pickup in the consumption of durables and non-durables, said the National Bank of Kuwait (NBK) in its latest Economic Update.<br/><br/> The end of Ramadan

SEC, GE stress on long-standing partnership
(Trade Arabia - 23/07/2018)

Saudi Electricity Company (SEC) and GE, in a statement, have stressed on the importance of their long-standing partnership for both the companies.<br/><br/> For almost 40 years, SEC and GE have partnered to advance the kingdom’s power generation sector,

Aramco’s potential Sabic deal to affect IPO timing, CEO says
(Gulf News - 22/07/2018)

Saudi Aramco’s potential acquisition of a stake in petrochemicals maker Sabic would affect the time frame of its own planned initial public offering, the firm’s chief executive, Amin Nasser, said in a TV interview.<br/><br/> The offering is the

SABIC represents Saudi private sector at UN sustainable development forum
(Saudi Gazette - 22/07/2018)

SABIC represented the Saudi private sector as part of a national delegation, led by the Ministry of Economy and Planning, to the High-Level Political Forum (HLPF) on Sustainable Development at the UN headquarters in New York last July 9 to 18. The HLPF

Doha Bank recognised as ‘Qatar Domestic Trade Finance Bank of the Year’
(Gulf Times - 22/07/2018)

Doha Bank has been awarded ‘Qatar Domestic Trade Finance Bank of the Year’ in the ‘Wholesale Banking’ category at the Asian Banking and Finance (ABF) Awards 2018 in Singapore.<br/><br/> Fazlur Rahman, assistant representative at Doha Bank’s Singapore

QIB receives three awards from The Asset Magazine
(The Peninsula - 22/07/2018)

Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, recently received three awards at The Asset Triple A Islamic Finance Awards 2018 including Islamic Bank of the Year in Qatar. The awards are conferred by The Asset Magazine, a leading financial

Ooredoo holds meet for Nojoom partners
(The Peninsula - 22/07/2018)

Ooredoo announced yesterday that it has held a ‘partner event’ for its award-winning Nojoom loyalty programme, to introduce new partners who have joined the programme in the first six months of 2018.<br/><br/> The event, which was held at Ooredoo’s Tower

GWC records 10% growth in H1 net profits
(The Peninsula - 22/07/2018)

Qatar’s leading logistics provider, concluded its first half of 2018 with an impressive 10 percent growth rate in its net profits, achieving QR116m, as compared to QR105m by the end of the same period in 2017. <br/><br/> The company also registered an

BisB seals Dadabhai Travel partnership deal
(Trade Arabia - 22/07/2018)

Bahrain Islamic Bank (BisB), leading provider of Sharia compliant integrated financial solutions, said it has signed a partnership agreement with Dadabhai Travel, one of the leading travel agencies in the kingdom.<br/><br/> This comes on the heels of the

Saudi Maaden unit seals new loan amendment deal
(Trade Arabia - 22/07/2018)

Saudi Arabian Mining Company (Maaden) said its subsidiary Maaden Bauxite and Alumina Company (MBAC) has signed an agreement with the Public Investment Fund (PIF) to amend the terms of its existing loan of SR3.75 billion ($1 billion) which has been

GFH awards $150m Dubailand project contract
(Trade Arabia - 22/07/2018)

Bahrain-based GFH Financial Group (GFH) said it has awarded a turnkey engineering, procurement and contracting (EPC) deal to China Machinery and Engineering Corporation (CMEC) for the construction and financing of up to 85 per cent of its Dubailand-based

Gulf Bank records an increase of 18 pct in net profit for H1, 2018
(Arab Times - 22/07/2018)

Gulf Bank K.S.C.P. announced its financial results for the first half of 2018. The Bank recorded a net profit of KD 27 million in the first 6 months of 2018, an increase of 18% over the same period in 2017. The Bank generated net interest income of KD 77

UAE telecoms firm Du Q2 net profit up 1.3%
(The National - 19/07/2018)

Du, the UAE's second-biggest telecoms operator, reported a 1.3 per cent increase in second-quarter net profit on Thursday, as total revenues rose The Dubai-based operator made a net profit after royalty of Dh453 million in the three months to June,

UDC posts QR279mn net profit in H1 2018
(Gulf Times - 19/07/2018)

United Development Company (UDC), the master developer of The Pearl-Qatar, has posted a QR279mn net profit on revenues of QR889mn for the first half of the year. <br/><br/> The net profit attributable to the equity shareholders stood at QR260mn and basic

Dubai Islamic Bank second quarter profit rises 14.6%
(Times of Oman - 19/07/2018)

Dubai Islamic Bank (DIB), the United Arab Emirates' largest sharia-compliant lender, posted a 14.6 per cent increase in second-quarter net profit on Wednesday as income from Islamic financing and investment grew.<br/><br/> It is the third Dubai-based

Saudi Electricity Co in talks for international bond issue
(Gulf News - 19/07/2018)

Saudi Electricity Co has recently discussed with a group of international banks its plan to issue a US dollar-denominated bond, sources familiar with the matter said.<br/><br/> The state-controlled utility is looking to refinance a $2.6 billion bridge

Mashreq’s first half 2018 net profits up 5.2%
(Gulf News - 19/07/2018)

Mashreq has posted first-half 2018 net profit of Dh1.2 billion up 5.2 per cent compared to Dh1.1 billion in the same period in 2017. For the second quarter of this year the bank reported a net profit of Dh563 million compared to Dh557 million in the same

QIIB first half net profit grows by 4% to QR484m
(The Peninsula - 19/07/2018)

Leading Islamic lender QIIB has recorded a net profit of QR484m for the first half of 2018 (H1, 2018), up 4 percent, compared to QR465m posted during the same period in 2017. The bank’s total revenues rose 14.8 percent to QR1.04bn compared to QR910m

Aramco, Korea partner on trade, human resources
(Trade Arabia - 19/07/2018)

Saudi Aramco recently signed an agreement with the Korea Trade-Investment Promotion Agency (Kotra) to collaborate in areas of trade, investment, and human resources (HR).<br/><br/> The memorandum of understanding (MoU) was signed by Ahmad A. Al Sa’adi,

QEWC net profit at QR813m for H1,2018
(The Peninsula - 19/07/2018)

The Qatar Electricity and Water Company (QEWC) has reported a net profit of QR813m for the period of six months ended June 30, 2018, compared to QR811m reported a year ago. The company’s Earning per Share (EPS) stood at QR7.39 compared to QR7.37 for the

Commercial Bank records QR855m net profit for first quarter
(The Peninsula - 19/07/2018)

The Commercial Bank, its subsidiaries and associates announced yesterday its financial results for the half year ended 30 June 2018. The Group reported a net profit of QR855m as compared to QR180m for the same period in 2017, an increase of 376

Emirates NBD H1 profit jumps 29pc to $1.36bn
(Trade Arabia - 19/07/2018)

Emirates NBD, a leading bank in the region, delivered a record set of results with net profit up 29 per cent to Dh5 billion ($1.36 billion) for the first half of this year.<br/><br/> Net interest income improved 20 per cent year-on-year due to loan