Company News

Nigerian banks to take over Etisalat unit as debt talks fail

(The National - 6/21/2017 8:28:00 AM)

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 - 6/21/2017 2:50:00 AM)

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 - 6/21/2017 2:42:00 AM)

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 - 6/21/2017 2:35:00 AM)

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 - 6/21/2017 2:03:00 AM)

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 - 6/21/2017 2:02:00 AM)

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 - 6/20/2017 8:21:00 AM)

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 - 6/20/2017 1:32:00 AM)

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 - 6/20/2017 1:26:00 AM)

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 - 6/20/2017 1:24:00 AM)

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 ...