Company News

Prince Alwaleed's Kingdom and Ashkenazy sue owner of New York Plaza Hotel

(The National - 5/20/2018 8:48:00 AM)

Ashkenazy Acquisition and Saudi Prince Alwaleed bin Talal’s Kingdom Holding, the investors trying to buy New York’s historic Plaza Hotel, sued the property’s majority owner for allegedly reneging on an agreement that gives the group the right to match ...

Oman Arab Bank conducts final module of ‘LEAD 2’ programme

(Times of Oman - 5/20/2018 8:46:00 AM)

In line with its continued commitment to improving the skills of its employees, the Oman Arab Bank (OAB) launched the second edition of the ‘Leadership Enhancement And Development’ (LEAD) talent programme last year. The 20 LEAD candidates have now ...

Adnoc eyes Asia Pacific markets with downstream expansion

(Gulf News - 5/20/2018 8:33:00 AM)

Abu Dhabi National Oil Company (Adnoc)’s plans to invest $45 billion (Dh165 billion) alongside partners over the next five years to create the single largest integrated refining and petrochemicals destination in the world at Ruwais will help the UAE gain ...

Julphar posts Dh18.4m in first quarter net profit

(Gulf News - 5/18/2018 10:26:00 AM)

Julphar, one of the largest pharmaceutical manufacturers in the Middle East and Africa, reported first quarter 2018 net profit of Dh18.4 million and sales of Dh264.0 million, after implementation of new Accounting Standard IFRS 9 and IFRS 15.


Saudi developer Sreco eyes $640m capital hike

(Trade Arabia - 5/18/2018 10:19:00 AM)

Al Akaria Saudi Real Estate Company (Sreco), a leading real estate developer in Saudi Arabia, said it has won approval from the company's board to double its share capital from SR1.2 billion ($320 million) to SR2.4 billion ($640 million).

A ...

Bank Muscat Izdihar's assets grows 74% to $90m

(Times of Oman - 5/17/2018 9:37:00 AM)

Bank Muscat Izdihar Real Estate Fund (Izdihar) concluded its second year of operations with impressive accomplishments in both performance and growth.

The fund grew assets by 74 per cent reaching US$90 million and positioned itself as one of ...

Omantel posts net profit of OMR57.4m

(Times of Oman - 5/17/2018 9:36:00 AM)

Telecommunications company Omantel registered a net profit of OMR57.4 million in 2017, the company CEO Talal Mamari announced.

Mamari added that the company’s net profit for the first quarter of 2018 was OMR18.1 million compared to OMR23.8 ...

QIIB announces attractive Ramadan offers

(The Peninsula - 5/17/2018 9:30:00 AM)

QIIB has announced the launch of three attractive products - personal finance, vehicle finance, and credit cards- to the customers on the occasion of the Holy Month of Ramadan. These offers are in line with the QIIB’s policy of offering flexible products ...

Dana Gas gets dividend of $22.75m from Pearl Petroleum

(Gulf News - 5/17/2018 2:51:00 AM)

Dana Gas said on Wednesday it has received a dividend payment of $22.75 million from Pearl Petroleum in proportion of the company’s shareholding.

“This brings the total dividend payments received from Pearl Petroleum for the year to date to ...

Emirates NBD joins fintech platform

(Gulf News - 5/17/2018 2:47:00 AM)

Emirates NBD has joined CCRManager, a fintech platform supporting the origination and distribution of trade assets.

Launched in 2017, CCRManager is a digital trade finance platform that connects various banks and financial Institutions to ...