April 23rd, 2019 | 0 commentsNetwork International has partnered with JCB International Co. to launch JCB Contactless acceptance in the UAE. Following this partnership, ‘JCB Contactless’ will be enabled across Network International’s extensive platform of physical and online UAE-based merchants, including Abu Dhabi and Dubai Duty Free shops, Dubai taxis, and metro st...
April 23rd, 2019 | 0 commentsThe Abu Dhabi Islamic Bank (ADIB) achieved an increase of 1.7% in net profit to AED 600.3 million during the first quarter of 2019 compared to AED 590.4 million in the same period last year. Net revenues grew by 5.3% to AED 1.436.6 billion in Q1-19 from AED 1.363.9 billion in Q1-18. The banking groups’ credit provisions and impairments in...
April 23rd, 2019 | 0 commentsSaudi Basic Industries Corporation’s (SABIC) stock on Monday saw a private transaction at a value of SAR 9.61 million on the Saudi Stock Exchange (Tadawul). The deal saw trading of nearly 76,880 shares at SAR 125 a share, the Saudi bourse revealed. During Monday’s trading session, SABIC’s stock has been traded between SAR 125 and SAR 126....
April 23rd, 2019 | 0 commentsAlinma Bank has invested SAR 16 billion ($4.27 billion) in sukuk, including SAR 13 billion ($3.47 billion) in government sukuk, the lender’s CEO told Al Arabiya. The 30% year-on-year growth in the Saudi lender’s financing and investment portfolio in the first quarter of 2019 has largely contributed to the bank’s profit growth in Q1-19, Ab...
April 23rd, 2019 | 0 commentsSaudi Arabia's Capital Market Authority (CMA) approved Saudi British Bank’s (SABB) request for raising its capital to SAR 20.55 billion from SAR 15 billion. SABB will carry out the capital raise through issuing 554.79 million ordinary shares to merge with Alawwal Bank and transfer all of Alawwal Bank’s assets and liabilities to SABB throu...
April 23rd, 2019 | 0 commentsModern Waterproofing’s (Bitumode) general assembly has approved a cash dividend distribution of EGP 22.9 million or EGP 0.10 per share to shareholders for fiscal year 2018. The general assembly has also endorsed dividend payments to employees in accordance with the company’s terms and laws, Bitumode said in a statement to the Egyptian Exc...
April 23rd, 2019 | 0 commentsEFG Hermes’s ordinary general meeting (OGM) has approved a cash dividend distribution of EGP 499.6 million or EGP 0.65 per share to shareholders for the fiscal year ended 31 December 2018. The OGM has also endorsed the previous-year financial statements, in addition to the board’s and audits reports on FY18 business, the leading investmen...
April 23rd, 2019 | 0 commentsArafa for Investment and Consultancies (AIVC) reported a 56% year-on-year decline in consolidated profits for fiscal year 2018/2019 ended last January. The company recorded a net profit of $3.08 million in the February-to-January period of FY18/19, versus $7.03 million in the year-ago period, according to a statement to the Egyptian Excha...
April 22nd, 2019 | 0 commentsThe Saudi British Bank (SABB) has signed a binding agreement with HSBC Asia Holdings on 18 April 2019 to sell 1 million shares in the share capital of HSBC Saudi Arabia. This stake represents 2% of the issued share capital of HSBC Saudi Arabia for a total value of SAR 36 million, according to a bourse filing to the Saudi Stock Exchange (T...
April 22nd, 2019 | 0 commentsSaudi Basic Industries Corporation’s (SABIC) stock on Sunday saw a private transaction at a value of SAR 49.6 million on the Saudi Stock Exchange (Tadawul). The deal saw trading of around 392,000 shares at SAR 126.60 a share, the Saudi bourse revealed. During Sunday’s trading session, SABIC’s stock has been traded between SAR 124.80 and S...
