MANAMA, BAHRAIN: Ithmaar Holding and its wholly-owned subsidiary, Ithmaar Bank each announced their financial results for the first half of 2019 with both reporting increased profits for the period. Ithmaar Holding reported a net profit of US$13.03 million for the…
BAHRAIN: Arig recorded consolidated net profit of US$ 9.2 million attributable to shareholders for the first half of year 2019 ended June 30, 2019 as against loss of US$ 22.4 million reported in the corresponding period last year. Arig is…
DUBAI: Islamic Arab Insurance Company, (SALAMA) reported net profit for H1 2019 ended June 30, 2019 increased 4.7% to AED 33.3 million from AED 31.8 million in H1 2018. Gross written premium (GWP) grew by 18.8% from AED 547 million…
OLDWICK: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Emirates Insurance Company (EIC). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect EIC’s balance sheet…
KARACHI: Asian Development Bank (ADB) has approved a $500 million loan for Pakistan to support and improve trade competitiveness and exports and help finance the trade deficit. Muhammad Hammad Azhar, Minister for Economic Affairs witnessed the loan signing of Trade…
KARACHI: A UK commitment to provide financing for renewable energy and energy efficiency to Pakistan’s industrial Small and Medium Enterprises (SME) sector has been signed by the Department for International Development (DFID). As part of DFID’s Sustainable Energy and Economic…
SHARJAH, UAE: Dana Gas, the Middle East’s largest regional private sector natural gas company, announced H1 2019 ended June 30, 2019 net profit jumped 483 % to $140 million compared with $24 million in H1 2018. This was mainly due…
KARACHI: KIA Lucky Motors (KLM) has launched the much-awaited, Pakistan’s first all-wheel 2000 CC SUV. KIA Sportage is Pakistan’s first All-Wheel Drive car with 100,000 km or 4 years warranty. KIA Sportage comes in two models- top of the line…
LONDON: Europa Oil & Gas, the UK and Ireland focused oil and gas exploration, development and production company, has announced that the Irish government approved the Company’s application to convert Licensing Option 16/20 in the Slyne basin in Atlantic Ireland…
LONDON: James Fisher and Sons has announced the acquisition of 60% of the share capital of Continental Participação E Administração Ltda., the holding company of Serviços Marítimos Continental S.A. for a total cash consideration of £7.5 million- £4.9 million payable…
LONDON: Avon Rubber has signed an agreement to acquire 3M’s ballistic-protection business and the rights to the Ceradyne brand for an initial cash consideration of approximately $91 million, subject to closing and customary adjustments. A further contingent cash consideration of…
LONDON: UK Oil & Gas (UKOG) has signed a binding heads of terms with Tellurian Investments LLC to acquire the entire share capital of its subsidiary Magellan Petroleum (UK) Investment Holdings Limited for a total consideration of £12 million in…