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NBO pilots cross-border banking transaction using blockchain technolog
(Oman Daily Observer - 30/04/2017)

National Bank of Oman (NBO) has announced the successful completion of the international remittances pilot project using blockchain technology. Blockchain is an innovative technology that is poised to transform the banking industry by facilitating

Ahlibank shareholders approve issuance of 50m perpetual bonds
(Times of Oman - 30/04/2017)

Ahlibank shareholders last week approved the issuance of 50 million perpetual bonds (additional tier 1 capital instruments), through rights issues at its Extraordinary General Meeting (EGM). Ahlibank held the bank’s EGM on Thursday (April 27) at the

Qatar Petroleum signs deals to boost petchem output
(Trade Arabia - 30/04/2017)

In a move aimed at supporting Qatar’s petrochemical industry, Qatar Petroleum (QP) recently signed agreements to supply additional quantities of ethane, which is used as feedstock, to a number of subsidiaries of Industries Qatar (IQ) and Mesaieed

Dubai Islamic Bank unit wins Kenya licence
(Trade Arabia - 30/04/2017)

Dubai Islamic Bank, the largest Shariah compliant lender in the UAE, said its Kenyan subsidiary, DIB Bank Kenya, has been granted licence by the central bank to carry out operations in the east African nation. With this approval, DIB Bank Kenya has

Emirates NBD Asset Management seeks to spread wings in global outreach
(Gulfnews - 30/04/2017)

The newly-appointed senior executive officer of Emirates NBD Asset Management Salman Bajwa wants to take their operations to the next level. After successful regional distribution of their funds, Bajwa seeks to sell them in Europe and the Far east,

Zain Saudi Arabia, axiom form venture
(Saudi Gazette - 30/04/2017)

ZAIN Saudi Arabia and axiom telecom announced the signing of a business partnership, allowing its customers to enjoy a one-stop visit to a wider range of the latest mobile products and services from many Zain retail locations across Saudi Arabia. As part

SNC-Lavalin wins Aramco contract
(Saudi Gazette - 30/04/2017)

SNC-Lavalin was awarded a contract by Saudi Aramco for engineering and project management services for the Berri Increment Program, the engineering company said Saturday in a statement. New facilities are proposed at Saudi Aramco’s existing plants at Abu

Aamal posts first-quarter net profit of QR139.7mn
(Gulf Times - 27/04/2017)

Aamal Company has reported net profit of QR139.7mn, translating into earnings-per-share of QR0.18 at the end of first quarter (Q1) ended March 31, 2017. “The Q1, 2017 has seen our revenues grow very strongly, by more than 22%; this has been driven by a

Doha Bank honoured at 3G Awards in Dubai
(The Peninsula - 27/04/2017)

Doha Bank received the “Global Good Governance (3G) Awards 2017” under the category "3G Environmental Responsibility Award 2017", at Fair month The Palm in Dubai, on Monday. The award ceremony was hosted by Cambridge IF Analytica. Leaders from Corporate

QIIB wins Visa International Award
(The Peninsula - 27/04/2017)

QIIB has bagged the ‘Best growing Qatari bank in the banking card industry in 2016’ award , instituted by Visa International for banks achieving the highest growth rate in the card sector in countries where they operate. Abdulbasit Ahmad Al Shaibei, QIIB

Du names new executive VP for corporate communications
(Trade Arabia - 27/04/2017)

UAE telecommunications provider du has appointed Abdulwahed Juma as the executive vice president of brand and corporate communications. In today’s competitive telecommunications environment, offering a distinct value addition is key for a brand as a

Dana Gas makes first international condensate sale in Egypt
(Arab News - 27/04/2017)

Dana Gas, the Middle East’s largest regional natural gas company, has achieved an important milestone with the first international sale of condensate in Egypt under the gas production enhancement agreement (GPEA). The first cargo is approximately 150,000

Union Cements board to meet on April 30
(Gulfnews - 27/04/2017)

ADX-listed Union Cements said on Wednesday it plans to hold a board meeting on April 30 to discuss and approve the first quarter results. The board will also review the marketing and sales report and also discuss other matters, the company said in a

NBQ’s first quarter net profits up 20%
(Gulfnews - 27/04/2017)

National Bank of Umm Al Qaiwain (NBQ) on Wednesday reported a net profit of Dh123.39 million, up 20 per cent for the first quarter of 2017 compared to Dh102.4 million in the same quarter last year. Net interest income grew by 20 per cent compared to the

KFH records KD 38.6 mln net profit for Q1 – Net finance revenues
(Arab Times - 27/04/2017)

Chairman of Kuwait Finance House (KFH) Hamad Abdulmohsen Al-Marzouq said that “KFH has, by the grace of Allah, realized a KD 38.6 million net profit for the first quarter of 2017 for KFH shareholders compared to KD 34.1 million for the same period last

Emirates NBD official banking partner for Expo 2020
(The Gulf Today - 27/04/2017)

Emirates NBD, a leading banking group in the region, has signed a Premier Partnership agreement with Expo 2020 Dubai to become its Official Banking Partner. The partnership marks Emirates NBD’s long-term commitment to supporting the growth and

Julphar pharmaceutical plant in KAEC launched
(Saudi Gazette - 27/04/2017)

The state-of-the-art pharmaceutical manufacturing facility Julphar Saudi Arabia officially opened during a much-anticipated on-site ribbon-cutting ceremony, which took place in King Abdullah Economic City (KAEC) in the presence of Saudi Arabia and United

QIC posts QR301.51mn Q1 profit
(Gulf Times - 26/04/2017)

Qatar Insurance Company (QIC), a leading risk cover provider in Qatar as well as the wider Middle East and North Africa, has posted a net profit of QR301.51mn, translating as earnings-per-share of QR1.09 in the first quarter (Q1) of this year. On the

Aramco sponsors petroleum engineers forum
(Trade Arabia - 26/04/2017)

Saudi Aramco is participating as a Diamond Sponsor in the Annual Technical Symposium & Exhibition (ATS&E) of the Society of Petroleum Engineers – Saudi Arabia section. The event is taking place in Dhahran expo and will include various exhibitors,

Batelco teams up with Brinc to launch IoT hub
(Trade Arabia - 26/04/2017)

Batelco, Bahrain’s leading digital solutions provider, has teamed up with Brinc, an ultra-hands-on Internet of Things (IoT) hardware accelerator, to launch its new operation in the Middle East, the Brinc-Batelco IOT Hub. Brinc Mena’s Middle East

S&P lowers rating on Taqa debt
(The National - 26/04/2017)

Standard & Poor’s said on Tuesday that it had cut Abu Dhabi National Energy Company’s debt rating by a notch, citing "decreasing predictability of government support" for Taqa, as the energy company is known. S&P said it downgraded Taqa’s rating to A-

Dubai Investments increase cash dividend to 12%
(Gulfnews - 26/04/2017)

Dubai Investments said on Tuesday the shareholders unanimously agreed to increase the cash dividend to 12 per cent from the earlier 10 per cent including a 5 per cent bonus shares. “Some shareholders requested for increasing the percentage of cash

GFH distributes quarterly dividends to investors
(Gulfnews - 26/04/2017)

GFH Capital said on Tuesday the recent distribution of quarterly dividends for a number of its investments and funds in line with its continued progressive dividend policy. These include distributions to investors of GFH funds with underlying investments

Shuaa eyes acquisition after swinging to net profit in first quarter
(Gulfnews - 26/04/2017)

Shuaa Capital swung back into net profits its chairman said on Tuesday, after registering losses in the past seven quarters. They also announced they are planning to buy a listed financial services firm in the GCC. Shuaa Capital recorded a net profit of

Event under the patronage and presence of HH PM of Kuwait,Zain
(Arab Times - 26/04/2017)

Zain, the leading telecommunications company in Kuwait, announced its participation in the inauguration ceremony of the 14th edition of the Arab Media Forum. The company is the Diamond sponsor of the event, which came under the patronage and attendance

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