Friday 31 July 2015
 
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Saudi tops GCC in key factory investments

Saudi Arabia ranks first in GCC in terms of size of manufacturing investments, showed a Gulf Organisation for Industrial Consulting (GOIC) report. The country’s share was 55.3 per cent, with Qatar in the second place at 21.7 per cent and the UAE in third place at 9.1 per cent, followed by

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GFH's name changed to 'GFH Financial Group BSC'

GFH has informed its shareholders and the markets that, in line with its extraordinary general meeting’s approval obtained on April 12, it has completed the formalities with the relevant authorities for changing its commercial name. Accordingly, the name has officially been

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QIIB, GBM launch 4 customer service projects

Qatar International Islamic Bank (QIIB) has teamed up with Gulf Business Machines (GBM), a leading provider of IT solutions, to launch four major IT and business projects aiming to enhance customer experience at the bank, a report said. The projects include a new datacenter and a

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Khaleeji Commercial profit rises 177pc to $11m

Khaleeji Commercial Bank (KHCB), a Bahrain-based Islamic bank, has reported an increase of 177 per cent in net profit for the first half at BD4.4 million ($11.67 million), compared with BD1.6 million for the same period last year. The profit figure was 164 per cent higher than the BD1.7 million

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BCFC net profit surges 18pc to $22.5m

Bahrain Commercial Facilities Company (BCFC) has posted an 18 per cent rise in consolidated net profit at BD8.5 million ($22.5 million) for the first half of the year, compared with BD7.2 million for the same period last year, reported the Gulf Daily News (GDN), our sister publication.

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Egypt's CIB net profit up 23pc in Q2

Commercial International Bank, Egypt's largest listed lender, on Wednesday reported a 23 per cent rise in second quarter net profit after minority interest compared to the same period last year, it said in a statement. Second quarter net profit after minority interest was EGP

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BisB posts 105pc rise in net income to $21m

Bahrain Islamic Bank (BisB) has posted an increase of 105 per cent in net income for the first six months of the year at BD8.2 million ($21.75 million), compared with BD4 million for the same period last year,  said a report in the Gulf Daily News (GDN), our sister publication.

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Ibdar earns 15pc returns on construction project sale

Ibdar Bank, a Bahrain-based Islamic wholesale investment bank, has earned returns of 15.95 per cent from the sale of a $30 million construction project, it announced yesterday. The bank said its exit from Sakan Development Company, its construction division, follows the final sal

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UAE credit growth expected to be flat in 2015

Credit growth in the United Arab Emirates is expected to be around 2 per cent this year, a senior banking official said, in a fresh sign the UAE credit cycle may have peaked because of low oil prices and cooling property markets. "Credit growth will be flattish," Abdul

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NBAD Q2 net profit edges up to $393m

National Bank of Abu Dhabi (NBAD) has reported net profits of Dh1.44 billion ($393.5 million) in the second quarter of the year, up one per cent year-over-year. The net profits for the first half of the year were Dh2.86 billion, up one per cent as compared to the last year, said

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