Company News

UNB's Q2 net profit slides 18% as impairment charges rise

(The National - 7/16/2018 8:01:00 AM)

Abu Dhabi’s Union National Bank on Sunday reported an 18 per cent year-on-year drop in its second-quarter net profit as impairment charges climbed, while non-interest income fell.

Net profit attributable to equity holders in the three months to ...

Bank Muscat's net profit rises to OMR89.7mn

(Times of Oman - 7/16/2018 7:53:00 AM)

Bank Muscat, the Sultanate’s flagship financial institution, posted a net profit of OMR89.70 million for the six-month period ending June 30, 2018, an increase of 6.4 per cent from the OMR84.31 million reported during the same period in 2017.

...

Sharjah Islamic Bank’s net profit up 4% in first half 2018

(Gulf News - 7/16/2018 7:35:00 AM)

Sharjah Islamic Bank (SIB) on Sunday reported Dh283 million net profit for the first half 2018 compared to Dh272.9 million in the same period last year. Net operating income reached Dh524.2 million for the first six months of 2018, up 9.2 per cent ...

Emirates NBD reveals $38.9m exposure to Abraaj

(Gulf News - 7/16/2018 7:29:00 AM)

Emirates NBD on Sunday said its exposure to Abraaj stands at $38.9 million (Dh142.87 million), raising total exposure to the embattled private equity firm to more than $2 billion.

Emirates NBD has an exposure of $21.3 million through an equity ...

Qatar Islamic Bank net profit grows by 13.8 % in H1,2018

(The Peninsula - 7/16/2018 7:23:00 AM)

Qatar Islamic Bank (QIB) has reported a net profit of QR1.32bn for the six months ended June 30, 2018 (H1, 18) registering a growth of 13.8 percent compared to the corresponding period in 2017.

Total assets of the Bank has increased by 1.4 ...

Raysut Cement raises RO 4m claim for Mekunu damage & ship loss

(Oman Daily Observer - 7/16/2018 7:19:00 AM)

Salalah-based Raysut Cement Company, the Sultanate’s largest cement producer, has announced the loss of one of its ships in the wake of Cyclone Mekunu’s devastating sweep of Dhofar Governorate in May. Raysut II, one of two cement carriers owned by ...

Sipchem launches innovation club in Dhahran

(Trade Arabia - 7/16/2018 7:10:00 AM)

Sipchem has launched its innovation club ‘Sipchem Tech’ in Saudi Arabia with the aim of building the capabilities of the youth in various fields, including artificial intelligence (AI), programming, 3D printing and robotics.

The Sipchem Tech, ...

Zain Bahrain signs high-speed net deal with Jashanmal

(Trade Arabia - 7/16/2018 7:09:00 AM)

Zain Bahrain, a leading telecommunications provider in the kingdom, has announced a new enterprise agreement with Jashanmal through providing a high-speed internet service to Jashanmal’s nine department stores in Bahrain.

The partnership was ...

Saudi builder Al Khodari renews Islamic credit deal

(Trade Arabia - 7/16/2018 7:06:00 AM)

Saudi Arabian construction firm Abdullah Abdul Mohsin Al Khodari and Sons has announced the renewal of Islamic credit agreement with Riyad Bank, a leading financial institution in the kingdom.

The SR231.4 million ($61.6 million) funding will be ...

Nakheel announces opening of key phase of $109m road project

(Trade Arabia - 7/16/2018 7:04:00 AM)

Master developer Nakheel has announced the opening of Phase One of a Dh400-million ($109 million) roads scheme being developed by Dubai's Road and Transport Authority (RTA) at International City.

The project, funded by Nakheel to the tune of ...

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