QATAR: Qatar International Islamic Bank (QIIB) has announced that Moody’s has confirmed the credit rating at A2 / Prime-1 with a stable outlook. Moody’s credit rating agency reconfirmed QIIB’s long-term credit rating at (A2) with a stable outlook, which affirms the bank’s strong financial position. This high rating reflects the strength and robustness of the…
Union Properties posts profits
DUBAI: Union Properties, the iconic property developer with a portfolio of diversified subsidiaries, announced 5.6 million Dirhams in net profit for the first quarter of 2021 compared to a net loss of 121.9 million dirhams for the same period in 2020. The company has attributed this profit to a number of key factors including the…
Dubai Islamic Insurance & Reinsurance Company posts 100% earnings growth
DUBAI: Dubai Islamic Insurance & Reinsurance Company (Aman), the pioneering UAE Takaful Insurance provider, announced its financial results for the first quarter of 2021. Aman reported a net profit attributable to shareholders of AED 6.4 million in the first quarter of 2021, registering a significant increase of 100.8% compared to AED 3.18 million in the…
Ithmaar Holding posts a net profit of $8.86 million in Q1
BAHRAIN: Ithmaar Holding announced its financial results for the three-month period ended 31 March 2021 reporting a net profit attributable to equity holders of $8.86 million, compared to the net loss of $22.58 million for the same period in 2020, mainly due improvement in assets performance, lower impairment provisions compared to previous period. Earnings Per…
Amanat Holdings reports record high profits
DUBAI: Amanat Holdings, the GCC’s largest healthcare and education investment company, reports record-high profitability for the first quarter ended 31 March 2021. Amanat records AED 41.0 million in Total Income, up 110.7% y-o-y and Income from Investments of AED 39.2 million, up 153.7% y-o-y. Total expenses declined 30.7% resulting in a Net Profit of AED…
Gulf Navigation reports net profit of AED 79 million in Q1 2021
DUBAI: Gulf Navigation Holding announced its financial results for the period ended 31 March 2021, reporting a net profit of AED 79 million compared to a loss of AED 18 million for the same period in 2020. Despite the tremendous challenges that the company faced and the difficult economic conditions, Gulf Navigation was able to…
Amlak Finance posts net profit of AED 6 million in Q1
DUBAI: Amlak Finance announced its financial results reporting a net profit of AED 6 million for Q1 2021, compared to AED 139 million net loss in 2020. Amlak’s Q1 2021 revenues decreased by 13% to AED 62 million as compared to AED 71 million in Q1 2020 excluding fair value losses on investment properties and…
International Property Securities Exchange (IPSX)
International Property Securities Exchange (IPSX) is a new Regulated Investment Exchange regulated by the FCA and is the world’s first such exchange dedicated to the initial public offering and secondary market trading of institutional grade commercial real estate assets. IPSX Wholesale is a market exclusively for institutional and professional investors and for issuers with an…
Mailbox REIT plc makes history as first company to list on IPSX
LONDON: Mailbox REIT plc has become the first company to be admitted to trading on IPSX, the International Property Securities Exchange (IPSX), marking an historic moment for the UK’s newest stock exchange – the first to be launched in 7 years in the UK. The Company has raised £25.85 million from the issue of 25.85…
China’s Big Data Expo 2021 to start online show on May 20
GUIYANG: China International Big Data Industry Expo (CIBDIE) 2021 will be held in southwest China’s Guiyang City from May 26 to 28, a news release said. The event, country’s leading big data expo, integrates online and offline participation, featuring conferences, exhibitions, new product launches, contests and other activities. A professional exhibition will be held both…
LXi REIT to buy storage, sales and customer services facility in Doncaster
LONDON: LXi REIT has exchanged contracts to acquire a click & collect, storage, sales and customer services facility in Doncaster, which will further utilise the Group’s revolving credit facility. The Acquisitions, which are for a total cost of £6.1 million, benefit from an accretive average net initial yield of 5.75% (net of acquisition costs), a…
Cibus Nordic announces EUR 25.5m real estate portfolio purchase in Finland
STOCKHOLM: Cibus Nordic Real Estate AB has today signed the purchase of a real estate portfolio of three assets in Finland for EUR 25.5 million, a news release said. The transaction is targeted to close on May 17, 2021. The assets have a lettable area of approx. 16,000 sqm and are located in the Jyväskylä,…