Gulf news

The Saudi lender’s net profits totalled SAR 263.3 million in Q1-19
49 minutes ago Bank AlJazira’s profit grows 7% in Q1
Riyadh – Mubasher: Bank AlJazira reported a 7.3% year-on-year net profit increase in the first quarter of 2019. The Saudi lender’s net profits totalled SAR 263.3 million in Q1-19, compared to SAR 245.3 million in the prior-year period, according …
The revival of the tourism sector is also another large contributor to employment
1 hour ago Growth towards new cities in Egypt is inevitable – JLL
Cairo – Mubasher: The Egyptian government has pumped approximately EGP 200.7 billion worth of investment in the implementation of projects in the new cities being established across the country, while the private sector has invested nearly EGP 400 …
Saudi German Hospital has no shareholding in this hospital
1 hour ago Saudi German Hospital manages new facility in Ajman
UAE – Mubasher: Middle East Healthcare Company (Saudi German Hospital) on Sunday announced that it has opened a new facility at the emirate of Ajman, the UAE, according to a filing to the Saudi Stock Exchange (Tadawul). The new hospital, owned by …
GIB Saudi Arabia is equally owned by PIF and GIB
1 hour ago GIB converts Saudi branches into SAR 7.5bn incorporated bank
Riyadh – Mubasher: Bahrain-based Gulf International Bank (GIB) on Sunday announced the completion of converting its branches in Saudi Arabia into a locally incorporated lender to be headquartered in the Saudi Eastern Province. The new bank, which …
The total value of Al Imtiaz’s financing portfolio amounts to KWD 713,000
2 hours ago Al Imtiaz’s profit slumps 83% in Q1
Mubasher: Al Imtiaz Investment Group reported an 82.9% year-on-year decline in profits during the first quarter of 2019. The group’s profits amounted to KWD 1 million ($3.3 million) in Q1-19, compared to KWD 5.85 million ($19.3 million) in Q1-18, …
The event seeks to create a more favorable tax environment for enterprises
2 hours ago UAE elected as new vice chairman in China’s BRITACOM forum
UAE – Mubasher: The UAE has been elected as a vice chairman of the Belt And Road Initiative Tax Administration Cooperation Forum (BRITACOM), which took place in China during the period between 18 April and 20 April. Khalid Ali Al Bustani, chairman …
TASI’s liquidity edged down to SAR 2.84 billion on Sunday
2 hours ago TASI in green; Nomu loses 100 pts at Sunday’s close
Riyadh – Mubasher: The Saudi Stock Exchange’s (Tadawul) main Tadawul All Share Index (TASI) rose 43.14 points, or 0.47%, to close at 9,239.67 points on Sunday. TASI’s liquidity edged down to SAR 2.84 billion on Sunday, compared to SAR 2.87 billion …
Boursa Kuwait will ditch existing orders in the automatic trading system on 28 April
2 hours ago Boursa Kuwait Securities names Al Humaidhi as new chairman
Mubasher: Boursa Kuwait Securities Company has elected a new board for the coming three years. Hamad Meshary Al Humaidhi was named as the new chairman, and Ahmed Altheneyan would be the company’s deputy chairman, according to a statement on …
NCB Capital set Jarir Marketing's PT at SAR 157.8 a share
2 hours ago Jarir Marketing’s Q1 profit rises on top-line growth – NCB Capital
Riyadh – Mubasher: Jarir Marketing Co. reported a 6.7% year-on-year net profit increase for the first quarter of 2019, supported by robust top-line growth, according to a report released by NCB Capital (NCBC) on Sunday. Jarir’s net profits, after …
The number of rich migrants in the UAE increased by 2% in 2018
2 hours ago UAE welcomes over 2,000 millionaires in 2018 – Report
UAE – Mubasher: The UAE attracted more than 2,000 millionaires from outside the GCC country, each with at least $1 million worth of net assets, during the full-year 2018, according to a report released by AfrAsia Bank and New World Wealth. The …
The project’s total cost amounted to AED 280.7 million
3 hours ago Musanada completes ‘Z35 Project’ road, infrastructure works
UAE – Mubasher: Abu Dhabi General Services Company (Musanada) unveiled the completion of the “Z35 Roads and Infrastructure Project” at Mohamed bin Zayed City in Abu Dhabi, state-run news agency WAM stated. The project’s total cost amounted to AED …
NBK reported a 15.1% y-on-y profit increase to KWD 107.73m in Q1-19
3 hours ago NBK eyes bigger market share in Egypt – CEO
Mubasher: The National Bank of Kuwait (NBK) plans to increase its market share in the Egyptian market, mainly in the retail banking sector by providing cutting-edge solutions, the CEO of the NBK Group said. NBK’s new branches in Saudi Arabia have …
UAEPASS comes along with the UAE’s strategy for comprehensive digital transformation
3 hours ago Smart Dubai completes 1st phase of UAEPASS Initiative
UAE – Mubasher: Smart Dubai, in collaboration with the Telecommunication Regulatory Authority (TRA), announced the completion of the first phase of the UAEPASS initiative, a nation-wide programme for digital identity, a recent statement said. The …
NCB Capital set Alinma Bank's PT at SAR 23.8/shr
3 hours ago Alinma Bank tops Q1 profit estimates on lower provisions – NCB Capital
Riyadh – Mubasher: Alinma Bank recorded stronger-than-expected results in the first quarter of 2019, according to a report released by NCB Capital (NCBC) on Sunday. The Saudi lender’s profits rose 21.8% year-on-year to SAR 709 million in Q1-19, …
Market capitalisation added AED 5.5 billion
3 hours ago ADX ends Sunday in green
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) closed Sunday’s trading session in green territory, encouraged by the announcement of first-quarter financial statements. The general index increased by 54.30 points, or 1.03%, ending …
Boursa Kuwait’s trading value tumbled 32.7% to KWD 28.7 million
4 hours ago Boursa Kuwait ends Sunday with mixed performance
By: Mohamed Farouk Mubasher: The indices of Boursa Kuwait finished Sunday’s trading session on a mixed note after the All-Share and Main markets inched down 0.09% and 0.52%, respectively, while the Premier Market index edged up 0.07%. The stock …
Dividends will be distributed on 8 May
4 hours ago Budget Saudi to pay SAR 1.5/shr dividends for 2018
Riyadh – Mubasher: United International Transportation Company (Budget Saudi) announced that the company’s shareholders had approved distributing a cash dividend of SAR 1.5 per share for 2018 during an ordinary general meeting (OGM) held on …
The ADGM's court-annexed mediation service is free of charge
4 hours ago ADGM Courts launch new mediation service
Abu Dhabi - Mubasher: The Abu Dhabi Global Market Courts (ADGM Courts) have launched the court-annexed mediation service to better meet the increasing demand for mediation solutions and services for ADGM entities and litigants before the ADGM …
Market capitalisation gained AED 669 million
4 hours ago Emaar props up DFM at Sunday’s close
Dubai – Mubasher: The Dubai Financial Market (DFM) ended Sunday’s trading session with positive performance, pushed up by of Emaar’s stock, in addition to the approaching distribution of cash dividends.   The DFM’s general index levelled up 0.24%, …
National Hotels recorded a net profit of BHD 1.125 million in 2018
4 hours ago National Hotels Q1 profit soars 161.5%
Mubasher: National Hotels, listed on Bahrain Bourse, has logged BHD 603,800 in profits for the first quarter of 2019, surging 161.5% from BHD 230,800 in the year-ago period, according to a bourse filing. The hospitality company’s revenue jumped to …
4 hours ago Sri Lanka imposes curfew as eight blasts coincide Easter Sunday
Kuwait’s bank credit increased by 5.3% to as much as KWD 37.1 billion in February
4 hours ago Kuwait’s bank deposits grow 2.3% YoY in February – C.bank
Mubasher: Deposits at banks operating in Kuwait rose 2.3% year-on-year, or KWD 972.1 million, to KWD 42.8 billion in February, Kuwait Finance House (KFH) reported, citing data from the Central Bank of Kuwait (CBK). Kuwait’s bank credit increased …
The acquisition deal is forecast to complete later in 2019
4 hours ago Saudi Aramco to acquire Shell’s 50% stake in SASREF for $631m
Riyadh – Mubasher: The Saudi Arabian Oil Co, better known as Saudi Aramco, on Sunday announced the acquisition of Shell Saudi Arabia Refining Limited’s (Shell) 50% stake in the Saudi SASREF joint venture for SAR 2.366 billion ($631 million). …
Bahrain’s inflation rate increased by 1.2% in Q1-19
4 hours ago Bahrain’s inflation grows 1.2% in March – IGA
Mubasher: Bahrain’s inflation rate rose 1.2% year-on-year in March, data released by Information and e-Government Authority (IGA) showed. Month-on-month, the GCC nation’s consumer price index (CPI) inched up 0.8% to 133.7 points, compared to 132.6 …
The central bank will issue around 5,000 silver commemorative coins
4 hours ago UAE C.bank to reissue “Year of Zayed” coins on Monday
UAE – Mubasher: The Central Bank of the UAE has decided to reissue “Year of Zayed” commemorative silver coins to meet the increasing demand. The central bank will issue around 5,000 silver commemorative coins weighing 60 grammes, according to the …