Company News

Damac sees Cityscape as catalyst for sector growth

(The Gulf Today - 8/17/2017 5:54:00 AM)

Damac Properties, a leading luxury real estate developer in the region, sees the decision to allow onsite sales at this year’s Cityscape Global 2017 as a positive step to help boost property sector growth. The 16th Cityscape Global 2017 conference and ...

Saudi Electricity secures $1.75bn loan for capex plans

(Arab News - 8/17/2017 5:41:00 AM)

Saudi Electricity Company (SEC) said on Wednesday it had signed a $1.75 billion interna- tional syndicated loan to help finance capital expenditure plans. The five-year bullet loan is co- financed by eight major interna- tional banks including Bank of ...

Marka posts $7m in Q2 revenues

(Trade Arabia - 8/16/2017 7:26:00 AM)

Marka, the first retail-focused company listed on the Dubai Financial Market, has reported total revenue of Dh25.48 million ($6.9million) for the second quarter of the year. Total losses reported for the period were Dh125.97 million, attributed to the ...

GFH acquires $1.2bn portfolio; land bank hits 200m sq ft

(Trade Arabia - 8/16/2017 7:24:00 AM)

GFH Financial Group today announced that it has completed the acquisition of a $1.2-billion infrastructure portfolio in Africa and the Middle East. The acquisition comes as part of GFH’s new strategy approved in the last shareholders’ extraordinary ...

Union Properties swings to record Dh2.3 billion quarterly loss

(The National - 8/16/2017 7:20:00 AM)

Union Properties (UP), the developer whose board went through an overhaul in May, reported its worst-ever quarterly loss on Tuesday after it wrote down the value of investments and booked provisions to cover accounting errors of the firm’s previous ...

BankDhofar sponsors 2nd Arab Forum for Women Entrepreneurs

(Oman Daily Observer - 8/16/2017 7:12:00 AM)

Reiterating its efforts that aim at developing the SME sector in the Sultanate, BankDhofar supported the 2nd Arab Forum for Women Entrepreneurs that was held during August 8-10 at Salalah Rotana Resort under the patronage of HE Sayyid Mohammed bin Sultan ...

Union National Bank opens Shanghai branch

(Gulfnews - 8/16/2017 7:05:00 AM)

Union National Bank (UNB), 50 per cent owned by the Abu Dhabi government, has begun operations at its branch in Shanghai, becoming the first bank from the United Arab Emirates to operate a branch in mainland China, the bank said on Tuesday. The Shanghai ...

Alinma offers employment to scholarship program graduates

(Saudi Gazette - 8/16/2017 6:59:00 AM)

ALINMA Bank has recently entered into a partnership agreement with the Ministry of Education and the Saudi Arabian Monetary Agency (SAMA) whereby the bank will extend employment offers to graduates of the Custodian of the Two Holy Mosques Scholarship ...

Dana Gas bondholders face ‘signi cant liability’ in UAE court case

(Arab News - 8/16/2017 6:54:00 AM)

Investors in Dana Gas’s $700 million Islamic bond are likely to have to repay the company a “significant” amount as a result of legal action in the UAE, the company said on Tuesday. In a case which has unsettled the Islamic finance industry, Dana is ...

Mobily signs $640m deal to develop network

(Trade Arabia - 8/15/2017 7:27:00 AM)

Etihad Etisalat (Mobily), a top telecom provider in Saudi Arabia, has signed an agreement worth SR2.4 billion ($640 million) to develop its mobile network with three international telecom and IT suppliers: Nokia, Huawei, Ericsson. Ahmed Aboudoma, Mobily ...