Company News

Tawuniya distributes 20 tons of food to 800 needy families

(Saudi Gazette - 6/19/2017 1:34:00 AM)

AS part of its initiatives to support charitable activities, employees of Tawuniya Insurance Company distributed 20 tons of food provisions to needy families. The internal campaign was organized by the company for 30 days, which started from mid-Sha›ban ...

IIRA maintains ratings of Bahrain Islamic Bank

(CPI Financial - 6/18/2017 11:55:00 AM)

Islamic International Rating Agency (IIRA) has reaffirmed ratings of Bahrain Islamic Bank (BIsB or ‘the bank’) at BBB/A2 (Triple B)/ (A Two) on the national scale and BBB-/A3 (Triple B minus / A Three) on the international scale. Our rating assessment of ...

Kuwait's Ooredoo seals Oula fuel station deal

(Trade Arabia - 6/18/2017 8:06:00 AM)

Ooredoo, Kuwait’s fastest telecom network, has signed a partnership agreement with Oula Fuel Marketing Company under which its customers can redeem their points for service vouchers from Oula fuel stations. This is aimed at enriching customers’ ...

Saudi Almarai wins approval for big capital increase

(Trade Arabia - 6/18/2017 1:27:00 AM)

Saudi Arabia's Almarai, the largest dairy company in the Gulf, said it has won approval from its shareholders to increase its capital from SR8 billion ($2.1 billion) to SR10 billion ($2.6 billion). This increase will be done through one bonus share issue ...

Abraaj divests stake in Careem to Kingdom Holding

(Trade Arabia - 6/15/2017 11:20:00 AM)

The Abraaj Group, a leading investor operating in growth markets, has divested its shareholding in Careem, one of the region’s leading transportation businesses, to Kingdom Holding Company. Founded in Dubai in 2012, Careem has grown to be one of the ...

Dana Gas Sukuk lawsuit could make issuers more cautious

(CPI Financial - 6/15/2017 11:10:00 AM)

While this unfolding event could be an isolated incident, issuers would be more cautious for upcoming issuance. This incident has startled our Islamic finance industry and brought back the memory of Goldman Sachs Sukuk debate in 2013. Noting that the ...

Qatar National Bank sees no big deposit outflows

(The Peninsula - 6/15/2017 8:27:00 AM)

Qatar National Bank (QNB), the largest bank in the Middle East and Africa, has seen no significant outflows of deposits since a diplomatic rift started between Qatar and certain other Arab countries, it said on Wednesday. Last week, Saudi Arabia, the ...

Over 70% of QIC business comes from global operations

(The Peninsula - 6/15/2017 8:24:00 AM)

With over two-third of Qatar Insurance Group’s business now contributed by its international operations, the Group noted that it has successfully achieved its strategic objective of “diversity and geographic expansion”. The statement came from the Qatar ...

Oman Fisheries inks MoU with Japanese firm

(Oman Daily Observer - 6/15/2017 1:02:00 AM)

Oman Fisheries Company, the Sultanate’s largest fish processing enterprise, has announced the signing of a Memorandum of Understanding (MoU) with Kyumura of Japan covering the joint implementation of a number of initiatives designed to support the ...

Dana Gas obtains injunction to restrain claims on $700m sukuk

(Gulfnews - 6/15/2017 12:54:00 AM)

Dana Gas, the Middle East’s largest regional independent natural gas company, said on Wednesday that it obtained an injunction from the Sharjah Federal Court of First Instance blocking claims for payments on its $700 million of outstanding sukuk. In a ...