Corporate news and announcements from the stock markets of Middle East and North Africa.
DUBAI: Drake & Scull International (DSI) has won contracts of over AED 376 million in Tunisia, India and Palestine, a news release said. Drake & Scull International (DSI) is a market leader in electromechanical, integrated design, engineering, and construction, for…
DUBAI: Orascom Construction PLC announces that it has added USD 650 million of new awards to its backlog in Q1 2021. These new awards mark an increase of 8% y-o-y over the level in Q1 2020. Projects in Egypt comprised…
MANAMA: Gulf International Bank (GIB) has been named winner in eight key categories by The Digital Banker Middle East & Africa Innovation Awards 2021, a news release said. For its success over the past year and demonstrated excellence in the provision of…
SHARJAH, UAE: Dana Gas PJSC has terminated its agreement for the sale of its Egyptian assets, announced on 25th October 2020, a news release said. A number of conditions precedent to the transaction could not be completed to the satisfaction…
MANAMA, BAHRAIN: Roebuck Asset Management has concluded an off-market sale of Accolade Park to Tritax Big Box REIT Plc for $123 million, a news release said. Roebuck Asset Management is the UK subsidiary of Bahrain based GFH Financial Group. Accolade…
DUBAI: DP World Limited handled 18.9 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first quarter of 2021, with gross container volumes increasing by 10.2% year-on-year on a reported basis and up 9.6% on…
DUBAI: Oman Insurance Company is assigned a positive outlook by S&P Global Ratings, based on improved operating performance while affirming an A- rating, a news release said. The rating agency also reaffirmed the capital adequacy of Oman Insurance above the…
MANAMA, BAHRAIN: Members of the American Chamber of Commerce in Bahrain (AmCham) enjoyed a tour of Mueller Middle East (MME), the first and only Copper Tube manufacturing facility in the MENA region. MME produces tailor made seamless and inner grooved…
MANAMA, BAHRAIN: GFH Properties, one of the leading real estate developments in the Kingdom of Bahrain, has received the “Best Development in MENA” award for its “The Harbour Row” project at the Architecture Leaders Awards 2021. Organised by BNC Publishing…
DUBAI: Dubai Islamic Bank PJSC (DIB), rated A3 by Moody’s and A by Fitch, successfully priced a landmark USD 500 million Perpetual Non-Call 5.5yrs Additional Tier 1 Sukuk with a profit rate of 3.375% per annum. This transaction represents the…
MANAMA: GFH Financial Group shareholders approved the Board of Directors’ recommendation for the distribution of a total dividend of US$42million. This included cash profits for all ordinary shares, save for treasury shares, at 1.86% of the nominal value of the share (equal to US$0.0049,…
MANAMA: Bahrain Bourse has commenced the first edition of the Capital Markets Apprenticeship Program on Thursday, 1st April 2021 with the participation of 8 interns out of more than 470 applicants for the program. The Capital Markets Apprenticeship Program is…