Company News

Saudi Aramco takes steps to maximize IPO valuation

(Arab News - 6/20/2017 12:58:00 AM)

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 - 6/19/2017 1:44:00 PM)

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 - 6/19/2017 8:07:00 AM)

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 - 6/19/2017 2:23:00 AM)

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 - 6/19/2017 2:20:00 AM)

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, ...

Bank Nizwa receives Moody’s investment grade rating

(Times of Oman - 6/19/2017 2:16:00 AM)

Bank Nizwa was assigned a first-time rating of Baa3 by Moody’s, one of the world’s most renowned credit rating agencies, reflecting the bank’s top quality assets and operating margins. The rating accorded following a comprehensive long and short-term ...

Dana Gas bid to void debt stuns analysts who question motive

(Gulfnews - 6/19/2017 2:14:00 AM)

A decision by Dana Gas to declare its own Sharia-compliant bonds unlawful has baffled investors in the $2-trillion (Dh7.34 trillion) Islamic finance industry. Sharjah-based Dana Gas said on Tuesday that it no longer considered its two Islamic bonds ...

NMDC approves Dh100m subscription in Arabtec shares

(Gulfnews - 6/19/2017 2:10:00 AM)

National Marine Dredging Company said on Sunday it has approved subscription to 100 million shares in Arabtec Holding with a total value of Dh100 million. The subscription was for shares in Arabtec’s Dh1.5 billion rights issue launched in May. Though ...

DSI initiates 75 per cent capital reduction

(The Gulf Today - 6/19/2017 1:43:00 AM)

A leading Middle East regional engineering and services leader, Drake & Scull International (DSI) on Sunday disclosed that the initial projected timeline of the capital restructiong programme has been deferred by a period of one month. The firm now ...

Kuwait Finance House ‘rolls out’ four innovative banking services

(Arab Times - 6/19/2017 1:39:00 AM)

Kuwait Finance House (KFH) unveiled the launch of a range of innovative e-services in the fields of bank accounts and call center in efforts to give customers a stellar banking experience as per highest standards of banking technology, quality, accuracy, ...