Company News

Meethaq raises Sukuk offering to OMR44.6 million

(Times of Oman - 6/15/2017 12:48:00 AM)

Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, has received the Capital Market Authority’s (CMA’s) approval to increase the original offer size of the Meethaq Sukuk series 1 from OMR25 million to OMR44.60 million, which is the total ...

Emaar to manage the Jabal Omar Address Makkah premium hotel

(Saudi Gazette - 6/15/2017 12:23:00 AM)

Jabal Omar Development Company (JODC), the region’s leading real estate development company, announced Wednesday that Emaar Hospitality Group’s premium luxury hotel brand Address Hotels + Resorts has been selected to manage its flagship hospitality ...

Abu Dhabi Islamic Bank/Egypt cut to neutral at EFG Hermes

(Gulf Times - 6/14/2017 8:08:00 AM)

EFG-Hermes analyst Elena Sanchez-Cabezudo has downgraded the recommendation on Abu Dhabi Islamic Bank/Egypt to neutral from buy, according to Bloomberg. Sanchez-Cabezudo raised the target price to EGP11.80 from EGP10, implying an 8.3% increase from the ...

Vodafone Qatar targets higher value customers

(The Peninsula - 6/14/2017 8:07:00 AM)

Vodafone Qatar, after expanding its customer base to over 1.5 million, is now focusing on high-valued customers to further boost its revenues and profits. This was announced by the Company’s CEO at its Annual General Assembly which approved all the ...

Dana Gas’ plan to swap ‘unlawful’ $700 million sukuk irks creditors

(Saudi Gazette - 6/14/2017 2:47:00 AM)

Abu Dhabi-listed Dana Gas has proposed swapping $700 million of outstanding Islamic bonds because it had discovered they were “unlawful”, prompting an outcry from some creditors. The price of Dana’s sukuk plunged after Dana’s proposal on Tuesday, with ...

Eshraq Properties to divest its stake in Ward Holdings

(Gulfnews - 6/14/2017 2:47:00 AM)

Eshraq Properties said that it has entered into an agreement divesting its equity representing 4.55 per cent of the total capital in Ward Holdings Limited, a company existing under the laws of DIFC (Dubai International Financial Centre) and whose main ...

Emirates NBD gets first female Emirati CEO

(Trade Arabia - 6/14/2017 2:43:00 AM)

Emirates NBD, a leading bank in the region, has appointed UAE national Maryam Bahlooq as the new chief executive officer of its fully-owned subsidiary Tanfeeth (getting the job done in Arabic). With this appointment, Bahlooq has become the first female ...

Etisalat launches high performance HTS service

(Trade Arabia - 6/14/2017 2:41:00 AM)

UAE-based Etisalat, a leading telecom services provider, has launched a new class of high throughput satellite (HTS) service aimed at boosting performance and multi-band connectivity of businesses in remote locations or harsh environment. The new service ...

Drake & Scull appoints acting finance head

(The National - 6/14/2017 2:37:00 AM)

Dubai-based contractor Drake & Scull International (DSI) said on Tuesday it has appointed a new acting chief financial officer to assist with its capital restructuring and ongoing negotiations with its lenders. The company has hired Feras Kalthoum as its ...

Batelco offering free TV service this Ramadan

(Trade Arabia - 6/13/2017 9:07:00 AM)

Batelco, Bahrain's leading digital solutions provider, has announced a special offer for its mobile and home internet subscribers during the month of Ramadhan. Customers will be able to enjoy free access to ‘Batelco TV on-the-go’ service until June 30, ...