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Batelco AGM approves $110.3m dividend
(Trade Arabia - 30/03/2017)

The annual general meeting (AGM) of Batelco Group, the Bahrain-based telecommunications group with operations across 14 countries, today approved a full year cash dividend of BD41.6 million ($110.3 million), at a value of 25 fils per share, for 2016. The

FGB shares to be delisted on Thursday ahead of merger with NBAD
(The National - 30/03/2017)

The Abu Dhabi lender FGB will have its shares delisted from the stock exchange today ahead of its merger with National Bank of Abu Dhabi (NBAD). Shares in the new entity, which retains the NBAD name, will begin trading on Sunday after the formal

Saudi Aramco said to price Islamic bond in giant debt push
(Gulfnews - 30/03/2017)

Saudi Arabian Oil Co. set final pricing for its debut Islamic bond as the company presses ahead with plans to raise $10 billion (Dh36 billion) in debt, according to a person with knowledge of the matter. Aramco, as the world’s largest oil producer is

Damac to approve dividends at AGM on April 16
(Gulfnews - 30/03/2017)

Damac Properties said on Wednesday it plans to hold its annual general meeting on April 16, when shareholders will approve dividends for last year among other items on the agenda. The board had approved a distribution of cash dividend to shareholders

BankDhofar EGM approves increase of authorised capital to RO 500 milli
(Oman Daily Observer - 30/03/2017)

The Extraordinary & Annual General Meetings (EGM & AGM) of Bank Dhofar was held on Monday at Grand Hyatt Hotel. The EGM/AGM was attended by the shareholders of the bank, the Chairman and members of the Board of Directors, Sharia Supervisory Board for

Burgan Bank holds AGM and Shafafiyah Forum
(Arab Times - 30/03/2017)

Burgan Bank held its Ordinary and Extraordinary General Assembly meeting and Al Shafafiya Investors forum on Tuesday at the KIPCO Tower, wherein the Board of Directors presented the bank’s financial earnings report for the year ended Dec 31, 2016 and

KAMCO 2016 profit surges 144 percent – Revenues up 13% to KD 8.29mn
(Arab Times - 30/03/2017)

KAMCO Investment Company K.S.C. (Public), a leading investment company with one of the largest AUMs in the region, announces its financial results for the year ending Dec 31, 2016. The Company recorded a net profit of KWD 1,275,814, an increase of 144%

Gulf Investment Corp acquires 35% stake in Sudair Pharmaceuticals
(Saudi Gazette - 30/03/2017)

Gulf Investment Corporation which is based in Kuwait announced that it has successfully completed acquisition of a significant minority stake in “Sudair Pharmaceuticals Company” – the owner and the developer of Sudair Specialized Pharmaceuticals Complex.

National resilience program a ‘strategic imperative’ for GCC
(Saudi Gazette - 30/03/2017)

The growing number of natural and man-made disasters around the world – from earthquakes and floods to recent cyber attacks against organizations – highlight the need for GCC countries to adopt a National Resilience framework, according to a Booz Allen

BSF signs deal with Saudi desalination giant
(Arab News - 30/03/2017)

State-owned Saline Water Conservation Corporation (SWCC) has awarded a financial advisory mandate to Banque Saudi Fransi (BSF) for two greenfield projects. Patrice Couvegnes, BSF managing director, said: “The bank is committed to contributing to Saudi

Merged U.A.E. Banking Giant Seen Earning Bigger MSCI Weighting
(Bloomberg - 29/03/2017)

A mega-merger of the two biggest banks in the United Arab Emirates should leave the combined company with a larger representation on the benchmark emerging-market index, triggering hundreds of millions of dollars of inflows to the stock, according to

Saudi Aramco’s Valuation Could Top $1 Trillion After Tax Cut
(Bloomberg - 29/03/2017)

Saudi Aramco could have a market value of more than $1 trillion in an initial public offering after the government slashed the oil producer’s tax burden to attract investors, analysts at Sanford C. Bernstein & Co. and Rystad Energy AS said. The tax cut

Tax cuts lift Aramco value by $1 trillion: analyst
(Trade Arabia - 29/03/2017)

Saudi Aramco's upstream portfolio has increased by about $1 trillion following Saudi Arabia’s announced tax rate reduction, Rystad Energy, an oil and gas consulting service, has said. Yesterday, Saudi Arabia announced that the tax rate for the petroleum

Al Mazaya posts $33.6m profit
(Gulfnews - 29/03/2017)

Al Mazaya said it posted a net profit of 10.25 million Kuwaiti dinars ($33.6 million; Dh123.4 million) — a 10.2 per cent rise from last year. Following the positive financial results achieved for 2016, the company’s board of directors recommended the

Bank Muscat celebrates al Wathbah Businesswomen’s award
(Oman Daily Observer - 29/03/2017)

Bank Muscat, the flagship financial services provider in the Sultanate, celebrated outstanding SME initiatives by women entrepreneurs as the second edition of al Wathbah Businesswomen’s Awards were presented at a ceremony held at the bank’s head office

ADX-DFM-listed firms’ dividends at Dhs33.83b
(The Gulf Today - 29/03/2017)

Dividends suggested by board of directors of 71 companies listed in Abu Dhabi and Dubai financial markets for the fiscal year 2016 have grown substantially to Dhs33.83 billion. The dividends have already been approved by some of the general assemblies of

Mobily Business holds information security meeting
(Saudi Gazette - 29/03/2017)

ETIHAD Etisalat (Mobily), represented by its Business Unit, held Information Security Conference in collaboration with ARBOR Networks international company in Dubai last March 22-24. Mobily Business reviewed, in the presence of elite clients and major

China's Sinopec Says Saudi Aramco Invited It to Be Investor
(Bloomberg - 28/03/2017)

China Petroleum & Chemical Corp. said it was invited to invest in Saudi Arabian Oil Co. as part of what could be the world’s biggest-ever initial public offering. Talks are ongoing between the companies known as Sinopec and Saudi Aramco, Wang Yupu,

DIB launches Panin Dubai Syariah Bank in Indonesia
(Trade Arabia - 28/03/2017)

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has celebrated the launch of Panin Dubai Syariah Bank in Indonesia. Following regulatory approvals in 2015, Dubai Islamic Bank acquired almost 40 per cent in PT Bank Panin Syariah Tbk, which

Abu Dhabi’s NBAD opens sale of Middle East’s first green bonds
(Gulfnews - 28/03/2017)

National Bank of Abu Dhabi PJSC is selling the Middle East’s first green bond, where proceeds must be used to fund environmental projects, as governments in the region look to curb dependence on oil for their energy needs. The state-owned lender is

Bank Muscat hosts SAS participants to support ICT start-ups
(Oman Daily Observer - 28/03/2017)

Bank Muscat, the flagship financial services provider in the Sultanate, in line with its ‘Let’s Do More’ vision and commitment to partnership in supporting Omani youth and promoting entrepreneurial initiatives, hosted a session with participants of the

Saudi Arabia cuts taxes on oil firms ahead of Aramco sale
(The Gulf Today - 28/03/2017)

Saudi Arabia on Monday cut taxes on oil companies in a major move that could attract investments in its energy giant Aramco, expected to be offered to investors in 2018. King Salman decreed a new set of income tax rates on oil companies working in the

Emaar Malls' $800 million bid for Souq.com to challenge Amazon
(Reuters - 27/03/2017)

Dubai's Emaar Malls, operator of glitzy Middle East shopping centers, has made an $800 million offer for regional online retailer Souq.com [IPO-SOUQ.DU], setting up a potential bidding war with Amazon.com. Emaar Malls’ bid has so far not been accepted by

Saudi Aramco Tax Slashed Ahead of What May Be Biggest IPO
(Bloomberg - 27/03/2017)

Saudi Arabia slashed taxes by more than a third for state oil producer Saudi Aramco ahead of what could be the world’s biggest initial public offering. New rates reduce Aramco’s income tax rate to 50 percent from 85 percent, Chief Executive Officer Amin

Goic, Saudi Aramco forge ties for industrial development
(Gulf Times - 27/03/2017)

A delegation from the Gulf Organisation for Industrial Consulting (Goic) visited Saudi Aramco’s Dhahran headquarters to forge cooperation ties in support of Saudi Arabia’s industrial development. The delegation was led by Goic secretary-general Abdulaziz

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