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Maaden announces new Vice Chairman
(Tadawul - 22/06/2017)

The Saudi Arabian Mining Company (Maaden) announces the Board of Directors decision on June 21, 2017 of appointing H.E. Sulaiman Bin Abdulrahman Al-Gwaiz (non-executive member) as the Vice Chairman for the company's Board of Directors, effective from

QNB sees minimal impact from standoff
(Gulf Times - 22/06/2017)

Qatar National Bank said it expects to meet its earnings targets as the ongoing Saudi-led campaign to ‘isolate’ the country has minimal impact on its operations. The Middle East’s largest lender by assets is confident it will reach its net profit growth

Aramco listing remains top priority
(The National - 22/06/2017)

The elevation of Mohammed bin Salman to crown prince of Saudi Arabia solidifies the young royal’s drive to privatise the state oil company Saudi Aramco, although formidable obstacles to a public share listing remain. A public listing of Aramco has been

GFH says Intergrated Capital transfers shares
(Gulfnews - 22/06/2017)

Gulf Finance House (GFH) said Integrated Capital (IC), owned by Abu Dhabi Financial Group has transferred GFH’s shares to Ajman Bank. IC transferred 21 million shares to the bank, and will transfer another tranche of 19.7 million shares by next week. As

Deyaar selects UC Forward to market properties in China
(The Gulf Today - 22/06/2017)

Deyaar Development PJSC, one of UAE’s leading property development and real estate services companies, has signed an agreement with real estate marketing and consultancy company UC Forward, to run roadshows in China showcasing Deyaar properties to

Damac chosen for $1 billion historic port transformation
(The Gulf Today - 22/06/2017)

Damac International has been chosen by the Government of Oman to develop its Port Sultan Qaboos into a world-class, waterfront mix use destination through a joint venture with Omran, the government’s investment, growth and development arm. ‘Mina Sultan

Alinma Bank names branches that are open during Eid Al-Fitr
(Saudi Gazette - 22/06/2017)

ALINMA Bank has announced that a number of its branches will remain open during the upcoming Eid Al- Fitr holiday to serve its partners (customers). From Saturday, June 24, 2017 through Saturday, July 1, 2017, the bank’s Takhassusi branch on Takhassusi

Omnia Pay partners with Mashreq Bank to enhance customer checkout
(CPI Financial - 21/06/2017)

Omnia Pay, in partnership with Mashreq Bank, has integrated its mobile point of sale solution (mPOS), POS Plus, and all-in-one payment devices into the checkout process of Home Centre, a leading home furnishings retailer with over 100 stores across the

Asian Banker honours Ahlibank official with 2 top awards
(Gulf Times - 21/06/2017)

Ahli Bank (Ahlibank) deputy CEO (Retail and Private Banking) Hassan AlEfrangi has received the ‘Promising Young Banker in Qatar and the Middle East Award 2017’ from the Asian Banker publication. AlEfrangi received the awards at the Asian Banker Business

Batelco adds 11 global networks to roaming packages
(Trade Arabia - 21/06/2017)

Bahrain's leading digital communications services provider Batelco has added 11 new international networks to its data roaming packages to boost its services for customers ahead of the holiday season. The great value roaming packages are now available

Nigerian banks to take over Etisalat unit as debt talks fail
(The National - 21/06/2017)

Etisalat said a Nigerian bank syndicate will take over the Nigerian unit it owns with Mubadala Investment Company and a local partner, after the parties failed to reach a deal over a debt restructuring. The banks had declared default on a US$1.2 billion

DSI seeks regulatory nod to initiate capital restructuring programme
(Gulfnews - 21/06/2017)

Drake & Scull International (DSI), said it will proceed with the final preparations to secure the approval of the Securities and Commodities Authority (SCA) to initiate the 75 per cent share capital reduction. The company is preparing to fulfil the

Du builds new satellite facility in Dubai
(Gulfnews - 21/06/2017)

Du, the Dubai-listed telecommunications company, announced it has built a new satellite Teleport Facility located in the Al Qudra area of Dubai. The facility covers an area of 75,000 square metres, and was built to enable the expanding requirements of

Etisalat to offer free WiFi to UAE customers on Eid holidays
(Gulfnews - 21/06/2017)

Etisalat subscribers will be able to enjoy free WiFi during Eid, the telecommunications company announced on Tuesday. The free internet connection can be accessible in major public locations across the country, including malls, restaurants, cafes, parks,

Al Zaheimer Charity honors Emirates NBD – Saudi Arabia
(Saudi Gazette - 21/06/2017)

UNDER the patronage of Prince Ahmed Bin Abdul Aziz Al Saud, Al Zaheimer Association has honored Emirates NBD – Saudi Arabia for their remarkable financial and moral support that was offered by the bank in 2016 to support the patients in Saudi Arabia.

DAMAC giving away Mercedes Benz car to celebrate Ramadan
(Saudi Gazette - 21/06/2017)

BUILDING on its exclusive Ramadan promotions that kicked off with the holy month, DAMAC Properties, a leading luxury real estate developer in the region, is giving away a new Mercedes Benz car with the purchase of an Aurum villa at AKOYA Oxygen. This

ENBD launches flexible overdraft facility
(Trade Arabia - 20/06/2017)

Emirates NBD (ENBD), a leading banking group in the region, has launched FlexiCash, providing customers with an overdraft credit facility to meet short term needs or sudden requirement of funds in an emergency, and repayable in a flexible manner.

Al Ahlia Insurance announces its maiden public offering
(Times of Oman - 20/06/2017)

Al Ahlia Insurance Company SAOG (under transformation), one of Oman’s oldest insurance companies, has announced its intention to launch an Initial Public Offering (IPO) soon. The company would be offering 25 per cent of its share capital to the public

Zain KSA picks first 3 BMW X5 winners
(Saudi Gazette - 20/06/2017)

ZAIN Saudi Arabia announced the winners of the first 3 raffles who won BMW X5 cars as part of the company’s Ramadan contest. The winners of first 3 cars — Menwer Alnadwi, Ms. Angelica Cornejo, and Rodrick Gamay — were presented with their awards in two

Saudi Electricity successfully passes 61,162 MW peak load
(Saudi Gazette - 20/06/2017)

THE Saudi Electricity Company (SEC) has successfully passed the biggest test for its capacity after the Kingdom registered a record peak load of 61,162 megawatts, surpassing the peak of last year with 666 megawatts, under high temperature rise that

Saudi Aramco takes steps to maximize IPO valuation
(Arab News - 20/06/2017)

The government of Saudi Arabia and Saudi Aramco are taking further steps toward maximizing the value of the state-owned oil giant in preparation for the sale of shares to citizens and international investors next year, according to reports. The measures

Dana Gas to carry out discussions with Sukukholders this week
(CPI Financials - 19/06/2017)

Dana Gas calls a meeting of the Holders of its Mudarabah Sukuk to discuss legality and restructuring issues. Dana Gas, in an announcement on the Abu Dhabi Securities Exchange has invited Holders of its Mudarabah Sukuk to a call on Wednesday, 21 June 2017

Alba Line 6 construction works under way
(Trade Arabia - 19/06/2017)

Aluminium Bahrain (Alba), the Bahrain-based international aluminium smelter, said that construction has started on site on its landmark Line 6 Expansion Project following the completion of the FEED (front-end engineering design) study. The expansion

Etisalat Nigeria negotiates over $1.2 billion bank loan
(The National - 19/06/2017)

Etisalat Nigeria is still in discussions with Nigerian banks to refinance a US$1.2 billion bank loan, the telecommunications company’s largest shareholder, Mubadala Invesment Company, confirmed on Sunday. Etisalat Nigeria, which is 45 per cent owned by

Meethaq Islamic, SAFE Alloys sign pact to set up ferrochrome alloys pl
(Oman Daily Observer - 19/06/2017)

Meethaq Islamic Bank at Bank Muscat, signed a financial agreement with SAFE Alloys LLC, a Sohar Free Zone Company which intends to set up a low carbon ferrochrome production plant at the Sohar Free Zone. The agreement was signed by Sulaiman al Harthy,

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