Company News

Sukuk documents seek to reassure investors after Dana Gas scare

(Gulf Times - 12/13/2017 6:05:00 AM)

Issuers of Islamic bonds are changing the language in documentation for new issues to reassure investors after a UAE company refused to redeem $700mn of maturing sukuk. In June, Dana Gas said it would not repay sukuk maturing in October because changes ...

ZAD Holding Company to launch new products

(Gulf Times - 12/13/2017 6:03:00 AM)

ZAD Holding Company, which is participating in this year’s edition of ‘Made in Qatar’, said there are plans to launch new products that would support the local market amid the economic blockade imposed on the country. At ‘Made in Qatar 2017’, which is ...

Omantel organises DevFest Muscat 2017

(Oman Daily Observer - 12/13/2017 5:43:00 AM)

Omantel organised DevFest Muscat 2017 in collaboration with Google Developer Groups (GDG) for Omani developers interested in Google’s technology, at its headquarters last week. This initiative was part of Omantel’s drive to enhance digital awareness ...

Daar kicks off global expansion with $218m Dubai tower

(Trade Arabia - 12/13/2017 5:33:00 AM)

Dar Al Arkan (Daar), the largest listed real estate developer in Saudi Arabia, has announced plans to expand to global markets, selecting Dubai as the launchpad for its international business, with a Dh800-million ($218 million) development on the Dubai ...

CMA approves Al Sorayai Trading request to reduce the capital

(Tadawul - 12/12/2017 8:13:00 PM)

The CMA has issued its resolution approving Al Sorayai Trading and Industrial Group Company’s request to reduce its capital from SAR (375,000,000) to SAR (225,000,000), thus reducing the number of shares from (37,500,000) shares to (22,500,000) shares. ...

SASCO renews bank facility agreement with SABB

(Tadawul - 12/12/2017 6:39:00 PM)

Saudi Automotive Services Company (SASCO) announces completion of renewal and amended of the bank facility agreements (Shariah-compliant) with Saudi British Bank as follows: 1- The renewal and modulate of the facilities was signed on 12 December 2017. 2- ...

Saudi Aramco signs 13 MoUs in push for local content

(Reuters - 12/12/2017 6:37:00 PM)

Saudi Aramco signed on Tuesday 13 memoranda of understanding (MOUs) worth around 6.3 billion riyals ($1.68 billion) with local and foreign companies as part a drive to expand the kingdom’s industrial base and manufacture a bigger share of products ...

International banks support QNB's US$3 billion refi loan

(Reuters - 12/12/2017 6:34:00 PM)

International banks are supporting the refinancing of a US$3bn (£2.3 billion) loan for Qatar National Bank QNBK.QA with nine Asian, US and European banks underwriting the deal, bankers said. Bank of America Merrill Lynch, Barclays, Deutsche Bank, MUFG, ...

Emaar Properties to give special dividend of Dh4 billion

(Gulf News - 12/12/2017 6:33:00 PM)

Emaar Properties’ board approved to give Dh4 billion as special dividend to be paid in two parts, the company said in a statement on Tuesday. The first tranche of Dh3 billion will be paid in January 2018, and the remaining Dh1 billion will be paid ...

Saudi Arabia announces new electricity tariffs

(Al Arabiya - 12/12/2017 6:30:00 PM)

Saudi Electricity and Cogeneration Regulatory Authority (ECRA) has announced that the Council of Ministers has approved gradual revision of energy prices in the Kingdom including changes to electricity tariffs that will take effect on January 1st, 2018. ...