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Mashreq eyes new home near Burj Khalifa
(The National - 31/01/2015)

Mashreq has signalled plans to relocate its corporate headquarters near Burj Khalifa from its long-standing home in Deira. The move comes amid record earnings in 2014. The bank last week published an invitation to tender for the construction of a new

Investcorp to acquire key Spanish company
(Trade Arabia - 31/01/2015)

Bahrain-based Investcorp is set to buy Fritta, a specialist producer of intermediates for the ceramic industry, from financial investor Nazca Private Equity. The acquisition is subject to Spanish competition authorities clearance, said a report in the

Ooredoo Oman Q4 profit falls 17pc to $21m
(Trade Arabia - 29/01/2015)

Ooredoo Oman, a leading telecoms operator, reported a net profit of RO8.3 million ($21.6 million) in the fourth quarter of 2014, down from RO10 million ($25.8 million) in the year-earlier period, marking a 17 per cent fall in fourth-quarter profit on

Barwa signs agreement for designing the project Barwa Village Expands
(Qatar Exchange - 29/01/2015)

With the increasing demand on commercial & residential units, Barwa Real Estate starts its expansion project for Barwa Village on AlWakra road and signs an agreement of collaboration with the Arab Engineering Bureau. Eng. Ahmad Abdulla Al Abdulla, Acting

Vodafone Qatar disclosed third quarter financial results
(Qatar Exchange - 29/01/2015)

Vodafone Qatar has disclosed its third quarter financial results for the nine month period ended December 31, 2014.The third quarter financial results revealed a net loss of QR 149.8 million compared to a net loss of QR 213.2 million for the

Bank Muscat board proposes 45 per cent dividend
(CPI Financial - 29/01/2015)

Bank Muscat, has proposed a 45 per cent dividend for the year 2014, 25 per cent in cash, five per cent as bonus shares and 15 per cent in the form of mandatory convertible bonds. The meeting of the Board of Directors chaired by Shaikh Khalid bin

National Bank of Oman (NBO) cash dividend 17 per cent
(MSM - 29/01/2015)

The Board of Directors of National Bank of Oman have approved the bank’s financial statements and have recommended a cash dividend of 17 per cent and stock shares of 10 per cent (1 share for every 10 shares held) of the paid up capital of the Bank.

Mobily, SAP enter into a training accord for employment of graduates
(Saudi Gazette - 29/01/2015)

Etihad Etisalat (Mobily), PSU, and SAP global company, signed a strategic partnership agreement to launch the second batch of the Mobily SAP training program for employment, which is one of the approved programs of King Salman bin Abdulaziz for Education

Record Q4 loss fails to thwart SEC sukuk rally
(Bloomberg - 29/01/2015)

The biggest quarterly loss in at least 10 years is failing to thwart a record rally in Saudi Electricity Co bonds as investors bet on lasting government support. Yields on the utility’s sukuk due April 2024 have dropped to 3.15%, the lowest since they

Vodacom, Bharti Airtel to bid for Etisalat’s Zantel unit
(Bloomberg - 29/01/2015)

Emirates Telecommunications, the United Arab Emirates' largest phone company by market value, received offers from Vodacom and Bharti Airtel to acquire its controlling stake in Zanzibar Telecom., according to three people with knowledge of the matter.

DSE signs Dh198m contract for services on hotel complex
(Gulf News - 29/01/2015)

Drake & Scull Engineering (DSE), the engineering subsidiary of Drake & Scull International, has been awarded a Dh198 million contract for Mechanical, Electrical, and Plumbing (MEP) services on an upcoming hotel and serviced apartment complex.

NBAD’s full-year net profit up 18% to Dh5.57b
(Gulf News - 29/01/2015)

The National Bank of Abu Dhabi (NBAD) reported a net profit of Dh5.57 billion in 2014, up 18 per cent compared to the previous year. For the fourth quarter of the year, the bank’s net profit was up 28 per cent year on year at Dh1.37 billion, beating

Commercial Bank of Dubai’s 2014 profit rises 19% to Dh1.2b
(Gulf News - 29/01/2015)

Commercial Bank of Dubai’s (CBD) net profit for 2014 increased by 19 per cent to Dh1.2 billion, compared to Dh1 billion in 2013, marking a sixth consecutive year of profit growth. The bank’s operating income increased by 10.2 per cent to Dh2.24 billion

FGB’s full-year net profit up 18% to Dh5.66b
(Gulf News - 29/01/2015)

First Gulf Bank (FGB) on Wednesday reported a net profit of Dh5.66 billion in 2014, up 18 per cent compared to Dh4.77 billion in 2013, marking the 15th consecutive year of net profit growth for the bank. Revenues were up 10 per cent to Dh9.24 billion for

Dubai reinsurer’s board to meet on February 4
(Gulf News - 29/01/2015)

Dubai National Insurance and Reinsurance (DNIR) said on Wednesday its board will meet on February 4 to approve the company’s 2014 results. In a statement, the company revealed it also plans to approve a dividend for last year as well open nominations for

Batelco introduces ICT security to key customers
(AME Info - 28/01/2015)

Batelco, the Kingdom’s leading telecommunications solutions provider in partnership with Palo Alto Networks, held a successful Next-Generation Security Workshop on Thursday 15th January. The workshop tapped into critical security aspects like Datacentre

Al Baraka Islamic Bank expands its ATM network
(AME Info - 28/01/2015)

Al Baraka Islamic Bank B.S.C (c) announced the installment of a new ATM in the American Mission Hospital in the Central Manama. This step reflects the implementation of the Bank’s ambitious plan to cover all centers and major areas in the Kingdom of

Kuwait freezes assets of former AUB chairman
(Trade Arabia - 28/01/2015)

Kuwaiti authorities have reportedly issued orders to freeze the property and assets of the former head of a Bahraini bank, a report said. It was reported yesterday that former Ahli United Bank (AUB) chairman Fahad Al Rajaan had resigned from his position

Cheap oil may boost growth, says economic city chief
(Reuters - 28/01/2015)

Saudi Arabia's Emaar the Economic City (EEC) expects demand for its industrial and residential property to grow this year as companies increase investment despite the plunge of oil prices, a top executive said. Established in 2006, EEC's operations are

Mashreq raises interest levels with new Dual Currency Product
(CPI Financial - 28/01/2015)

Mashreq, has announced the launch of its ‘Dual Currency Product’, a ‘structured deposit’ designed to provide higher interest rate compared to a ‘fixed deposit’. Indeed, in comparison to a traditional ‘fixed deposit’, a ‘structured deposit’ gives

Kuwait's Zain said to work with Citigroup on tower sale
(CPI Financial - 28/01/2015)

Kuwait’s largest mobile operator is working with Citigroup Inc. on the sale of its tower network in two Gulf countries, which may fetch as much as $2 billion, according to people with knowledge of the matter. Mobile Telecommunications Co., known as Zain,

NBF Capital underscores corporate advisory capabilities with AED 260 m
(CPI Financial - 28/01/2015)

National Bank of Fujairah (NBF) announced today that NBF Capital Limited has concluded an AED 260 million loan syndication on behalf of Universal Hospital. The corporate advisory firm, a fully-owned subsidiary of NBF and regulated by the Dubai Financial

Riyad Bank winds up trade finance sessions with Saudi corporations
(Saudi Gazette - 28/01/2015)

RIYAD Bank concluded a series of specialized annual sessions on trade finance for its corporate customers across the Kingdom. The events, which were held in Jeddah, Riyadh and Dammam, included presentations and briefings by corporate banking, trade

Gulf Bank's profit rises 11 per cent
(Gulf Daily News - 28/01/2015)

Kuwait's Gulf Bank, the country's fourth-largest lender by assets, reported a 10.7 per cent rise in fourth-quarter net profit yesterday, and said it had recovered from the global financial crisis. The bank received a 375 million Kuwaiti dinar ($1.27

Alba pledges transparency
(Gulf Daily News - 28/01/2015)

Alba reaffirmed its commitment to enhance transparency and direct communication between management and employees. This came as the company marked the conclusion of a series of Town Hall meetings that were held this month. An initiative by Alba chief

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