Saudi Aramco and Jacobs create Joint Venture for Social Infrastructure Program Management

Saudi Arabia -- Saudi Aramco entered into an agreement today with Jacobs (NYSE:JEC) to form a Saudi Arabia-based joint venture company to provide professional program and construction management … [Read more...]

Al Baraka Banking Group achieved operating income of US$ 249 mn

Bahrain -- The Bahrain based leading Islamic banking group, Al Baraka Banking Group B.S.C (ABG) announced that it achieved a total operating income of US$ 249 million during the first quarter of 2017 … [Read more...]

Aldar awards AED 1.7 billion development contract for Yas Acres

Abu Dhabi, UAE -- Aldar Properties PJSC (‘Aldar’), Abu Dhabi's leading listed property development, investment and management company, has appointed Trojan General Contracting as the main contractor … [Read more...]

Q1 2017 M&A deal value increased 61.8 per cent

· Middle East M&A benefits from US investment in Industrials & Chemicals sector · Two major deals led M&A deal value to reach eight year high of US$ 5.5 billion · Overall Q1 2017 deal … [Read more...]

Bloom Properties key projects

Abu Dhabi, UAE -- Bloom Properties, a Bloom Holding business specializing in the development of integrated and sustainable communities, has provided investors and home buyers with updates of the … [Read more...]

GCC risk premiums will rise as credit downgrades continue, says Fisch Asset Management

-          Risk premiums will rise as GCC credit ratings continue to suffer downgrades -          GCC central banks are expected to follow the recent US Fed rate hike -          Sovereigns continue … [Read more...]

Etisalat AGM approves 80 fils per share dividend for 2016

Etisalat’s shareholders today backed the board’s recommendation to pay full 2016 dividends of 80 fils per share during the annual general meeting held at the company’s headquarters in Abu Dhabi. Key … [Read more...]

HH Sheikh Mohammed bin Rashid Al Maktoum Inaugurates Second Phase of the Mohammed bin Rashid Al Maktoum Solar Park

HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has inaugurated the 200 megawatt (MW) second phase of the Mohammed bin Rashid Al Maktoum Solar … [Read more...]

ADIB’s shareholders approve cash dividends of 24.52% for fiscal year 2016

Shareholders of Abu Dhabi Islamic Bank (ADIB) have approved the distribution of 24.52% cash dividends for 2016 at the bank’s Annual General Meeting (AGM) held on Sunday 2nd April 2017. The cash … [Read more...]

Heavy oil reserves are targets waiting to be extracted

Strategic investments will play a pivotal role in enabling the recovery of a widely abundant yet complex energy resource that can potentially extend the life expectancy of hydrocarbon supplies, … [Read more...]

DEWA hosts conference for qualified bidders on 200MW of the Mohammed bin Rashid Al Maktoum Solar Park

Dubai Electricity and Water Authority (DEWA) hosted a conference for international developers who have been qualified to submit tenders for the 200MW Concentrated Solar Power (CSP) plant based on the … [Read more...]

ETFGI reports assets invested in active ETFs/ETPs listed globally reached a new record high of 47 billion US dollars at the end of February 2017

London – ETFGI, the leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, today reported assets invested in active ETFs/ETPs listed globally reached a new record … [Read more...]

Sloanes ready to hand over Bayat Plaza to investors by Q4

Jeddah - Sloanes Real Estate Brokers, a subsidiary of the SABBAN Group of Companies, has announced that its iconic residential twin-towers, Bayat Plaza, is now 90% complete and on schedule for handing … [Read more...]

Bahrain’s GFH appoints Shaikh Ahmed bin Khalifa Al-Khalifa as new Chairman of the board

Manama, Bahrain – GFH Financial Group (“GFH” or “the Group”) announced today that it has convened its first meeting in Abu Dhabi last Thursday for its new Board of Directors, whose appointment was … [Read more...]

Porsche: new records for the 2016 financial year

The most successful year in the history of the company: In the 2016 financial year, Porsche AG achieved record highs in terms of deliveries, revenue, operating result and number of employees. … [Read more...]

A.M. Best Special Report: Stability Returns to Saudi Insurers but Growth Prospects Remain Cloudy

The Saudi insurance market appears to have finally turned the corner following a period of underwriting volatility, according to analysis by A.M. Best. A review of preliminary disclosures by national … [Read more...]

Saudi Arabian Government to Address Cyber Security at the National Level

Saudi Arabia climbed 4 spots to become the 16th biggest economy in the world in 2016, fueled by their commitment to sustainable growth through economic diversification and technological … [Read more...]

Lulu Group has opened its latest hypermarket in Hail

LuLu Group has opened its latest hypermarkets in the city of Hail, Saudi Arabia. The Hypermarket was inaugurated at a ceremony here by Dr. Saud Hamood Al Bugami, Under Secretary of Hail province along … [Read more...]

Saudi Aramco hires Moelis & Co.to advise on its IPO

Saudi Aramco picked Moelis & Co. to advise on its initial public offering, according to people familiar with the matter. The New York-based boutique investment bank had been shortlisted along … [Read more...]

GIQ Industry Survey: Oil to Average in the $50s/bl in 2017

The average Brent oil price will be in the $50s/bl this year, according to 49% of respondents to a GIQ Industry Survey of 250 energy national and international industry professionals. Comparatively, … [Read more...]