Company News

du Announces Details with Regards to Application of VAT

(Press Release - 12/12/2017 3:50:00 PM)

In compliance with the Federal Decree-Law No 8 of 2017 issued by President His Highness Sheikh Khalifa bin Zayed Al Nahyan, on the introduction of Value Added Tax (VAT) in the UAE, du announced that it will collect tax on behalf of the government, with a ...

Saudi Aramco lifts spending plans to $414 billion over next decade

(Reuters - 12/12/2017 3:08:00 PM)

Saudi Aramco plans to raise its spending to $414 billion (310.5 billion pounds) over the next 10 years, including on infrastructure and drilling, as the state oil giant moves into new businesses, executives said. The spending plan is higher than Aramco’s ...

Adnoc IPO valuation setback holds lessons for Saudi Aramco sale plan

(Gulf Times - 12/12/2017 7:47:00 AM)

When the state-owned oil company of the UAE decided to sell a stake in its fuel-retailing unit, it had a lofty valuation target. According to people familiar with the matter, the Abu Dhabi National Oil Co, or Adnoc, was hoping the initial public offering ...

Ithmaar Bank awarded “Best Islamic Retail Bank in Bahrain”

(Biz Bahrain - 12/12/2017 7:31:00 AM)

Ithmaar Bank, a Bahrain-based Islamic retail bank, was honoured at a ceremony attended by senior bankers from across the Middle East after it was named Best Islamic Retail Bank in Bahrain. Ithmaar Bank was presented the prestigious award following a ...

Alba, Bechtel to explore further growth opportunities

(Trade Arabia - 12/12/2017 7:19:00 AM)

Aluminium Bahrain (Alba), one of the world's leading aluminium smelters, has signed a MoU with Bechtel, a leading construction and civil engineering firm, to explore further opportunities of growth with Line 6 Expansion Project, which will result in Alba ...

Acwa consortium wins major Oman water project

(Trade Arabia - 12/12/2017 7:17:00 AM)

Acwa Power, a major developer and operator of power and desalinated water plants, said its consortium with French water and energy management company Veolia and Oman-based Dhofar International Development and Investment Holding Company (Didic) has been ...

Almarai Board recommends 7.5% cash dividends for year 2017

(Tadawul - 12/11/2017 7:06:00 PM)

The Board of Directors of Almarai Company, during its meeting on 11th December 2017, has decided to recommend to the General Shareholders Assembly a payment of dividend for the financial year 2017 as follows: 1- Total distributed dividends of SAR 750 ...

du Discusses SMART Networking at theTelecom Review Leaders’ Summit

(Press Release - 12/11/2017 2:21:00 PM)

Last week du supported and took part in a number of panel discussions at the 2017 Telecom Review Leaders’ Summit. As the official telecom partner, du leaders spoke about Smart initiatives, from Smart City innovations to 5G and IoT and everything in ...

Saudi Aramco’s Jazan refinery project to be completed by mid-2018

(Oil Review Middleeast - 12/11/2017 1:43:00 PM)

Amin Nasser, president and CEO of Saudi Aramco, has visited the company’s Jazan refinery to receive progress updates at the Jazan Economic City (JEC) and refinery and terminal mega-projects in Saudi Arabia. During the site-visit, Nasser said that the ...

Aramco to cut January oil exports to Asia, keep Europe, U.S. steady

(Reuters - 12/11/2017 1:40:00 PM)

Saudi Aramco plans to reduce its January crude oil shipments to Asia by more than 100,000 barrels per day from December, while keeping its exports to the United States and Europe steady, the Saudi Energy Ministry said in a statement on Monday. “For ...