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Marka narrows losses but problems continue
(Gulf News - 16/08/2018)

Amid an ongoing restructuring, Dubai-listed retailer Marka has seen its losses narrow in the second quarter, while also seeing its revenue slip. The company did manage, however, to post a gross profit of Dh9 million. <br/><br/> In a regulatory filing on

Batelco offers high-speed LTE services package
(Trade Arabia - 16/08/2018)

Batelco, the leading digital solutions provider in Bahrain, is set to offer a new high-speed LTE Data Roaming services package with options including a one-day data roaming in the GCC for only BD5 ($13.26) and seven-day data roaming in the GCC for BD10

Nakheel posts $683m net profit in H1
(Trade Arabia - 16/08/2018)

Nakheel, a leading global developer, said it has registered a net profit of Dh2.51 billion ($683 million) for the first six months of the year compared to Dh2.61 billion ($710 million) for the same period in 2017. <br/><br/> Announcing the H1 results,

Emaar Properties' H1 revenue surges 46pc to $3.12bn
(Trade Arabia - 16/08/2018)

Leading property developer Emaar has registered a revenue of Dh11.47 billion ($3.12 billion) for the first half of the year, up 46 per cent compared to Dh7.86 billion ($2.14 billion) last year led by strong construction progress and growth in its malls

SABIC and Nottingham Spirk accelerate innovations
(Saudi Gazette - 15/08/2018)

Leveraging its unique ability to expand value for its customers while also contributing to Saudi Vision 2030, SABIC, a global leader in the chemical industry, is investing in new applications and methods of collaboration to innovate across the industry

Revenue gains take Damac to Dh3.7b in H1-18
(Gulf News - 15/08/2018)

Damac Properties recorded an improvement in revenues in the first six months, at Dh3.7 billion against the Dh3.5 billion in the first half of 2017. But there was a sharp decline in net profit to Dh862 million from first-half last year’s Dh1.6 billion.

RAK Poultry posts Dh2.5m loss for first half
(Gulf News - 15/08/2018)

Abu Dhabi-listed Ras Al Khaimah Poultry and Feeding posts a half-year loss of Dh2.5 million on Tuesday.<br/><br/> Revenues fell from Dh21.5 million in the first half of 2017, when the firm made a profit of Dh4.8 million, to Dh15.5 million in the first

Bank Muscat e-channels set to facilitate hassle-free holidays
(Oman Daily Observer - 15/08/2018)

Bank Muscat, the flagship financial services provider in the Sultanate, in line with its vision ‘To serve you better, everyday’ and commitment to innovation in electronic channels, is all set to provide convenient and secure electronic banking services

Gulf Navigation swings to H1 loss
(Trade Arabia - 15/08/2018)

Dubai-based Gulf Navigation Holding has reported a loss of Dh14.761 million ($4.01 million) for the first half of 2018, compared to profits of Dh19.029 million ($5.18 million) during the same period last year.<br/><br/> The company said that these

Dana Gas completes sukuk refinance
(Trade Arabia - 15/08/2018)

Dana Gas, the Middle East’s largest regional private sector natural gas company, said that the issue of its new Sukuk has been completed and is now listed on Euronext Dublin (previously known as “Irish Stock Exchange”).<br/><br/> All legal proceedings

Drake & Scull International names new group CEO
(Trade Arabia - 15/08/2018)

Drake & Scull International (DSI), a regional leader in engineering and construction services, has appointed Yousef Al Mulla as the new group CEO replacing Dr Fadi Feghali who will be assuming a new role with the DSI Group. He will take over the new role

KFH and Markaz say Turkish lira slide impact on their investments minimal
(Arab Times - 15/08/2018)

Kuwait Finance House (KFH), the country’s second-biggest lender by assets, said on Tuesday that its Turkey financing portfolio is stable and diversified between the Turkish lira and major foreign currencies.<br/><br/> The Turkish lira has gone into

Emirates NBD stands chance to renegotiate Denizbank acquisition
(Gulf News - 14/08/2018)

The sharp decline of the Turkish lira in recent weeks has triggered speculation in banking circles that Emirates NBD stands a chance to renegotiate its deal to acquire Denizbank as the valuation has declined substantially in dollar terms from the time of

Eshraq reports best half-year since 2014
(Gulf News - 14/08/2018)

Abu Dhabi-listed Eshraq Properties reported a first-half net profit of Dh14.8 million, compared to a loss of Dh0.32 million in the first half of 2017. The property firm said in a press statement that the new figures are their best half-year since the

Damac and RHG to launch Radisson Hotel
(The Gulf Today - 14/08/2018)

Damac Properties has signed a landmark agreement with Radisson Hotel Group (RHG) to develop and launch the ‘Radisson Hotel, Dubai Damac Hills’, its first, newly launched Radisson-branded property worldwide located on a golf course, the Trump

Adnoc Distribution net profit up 18pc in H1
(Trade Arabia - 14/08/2018)

Abu Dhabi National Oil Company for Distribution (Adnoc Distribution) has reported that net profit for the six months ended June 30, 2018, increased by 18 per cent to Dh1.124 billion ($306 million) compared with the same period last year.<br/><br/> The

Top Kuwaiti developer NREC's operating revenue up 46pc
(Trade Arabia - 14/08/2018)

Kuwait-based National Real Estate Company (NREC), a leading real estate developer with a major presence in the region, said its total operating revenue surged to KD14.02 million ($46 million) for the first half up 46.05 per cent over the same period last

GFH posts 16.7pc surge in H1 net profit to $72.5m
(Trade Arabia - 14/08/2018)

Bahrain-based GFH Financial Group (GFH) has reported a net profit attributable to shareholders of $72.5 million for the first half of the year representing a 16.7 per cent increase from $62.1 million in the first half of 2017.<br/><br/> The Group

Emaar Development net profit surges 68pc to $496m
(Trade Arabia - 14/08/2018)

UAE-based Emaar Development has reported a net profit of Dh1.82 billion ($496 million) for the first six months of 2018, up 68 per cent compared to Dh1.08 billion ($294 million) for the same period last year.<br/><br/> A build-to-sell property

Zewail City and NBK ink EGP 6.25 mln cooperation protocol
(Arab Times - 14/08/2018)

Zewail City of Science and Technology and NBK ink EGP 6.25 million cooperation protocol to fund 10 scholarships over a period of 5 years. Prof Sedki: A valuable partnership that highlights the importance of concerted efforts between the private and

KFH invites AUB due diligence
(Arab Times - 14/08/2018)

Kuwait Finance House (KFH) said on Monday it had invited Bahrain’s Ahli United Bank to begin a due diligence process for a potential merger, Kuwait’s biggest Islamic lender said on Monday. KFH also asked AUB to sign a non-disclosure agreement. If the

Aramco set to become full owner of Arlanxeo
(Saudi Gazette - 13/08/2018)

Saudi Aramco, a world leading integrated energy and chemicals company, and leading specialty chemicals company, Lanxess, announced in a press release issued last Aug. 8 that Saudi Aramco proposed acquisition of Lanxess‘s interest in Arlanxeo, a

FAB shares seen extending rally as index review nears
(Gulf News - 13/08/2018)

First Abu Dhabi Bank PJSC’s stock has gained in six of the past seven weeks, bringing the rally for the year to 37 per cent. A beckoning index-weighting upgrade means more joy could be in store for shareholders.<br/><br/> The biggest lender in the UAE is

Solidarity Bahrain posts BD1.16 m net profit
(Trade Arabia - 13/08/2018)

Solidarity Bahrain, one of the largest insurance companies in the kingdom and a subsidiary of Solidarity Group Holding, has announced a net profit of BD1.16 million ($3.07 million) for the six month period ended June 30, 2018, compared to BD89,000 for

Ooredoo Oman opens pre-booking for Galaxy Note 9
(Trade Arabia - 13/08/2018)

Ooredoo Oman, a top telecom provider in the Sultanate, has announced pre-registration for the long-awaited Samsung Galaxy Note 9 on the website. Users who sign up for a two-year contract on Ooredoo’s Shahry plans are able to purchase the device with zero

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