Tuesday 31 March 2015
 
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2014

Adnic swings to $76m loss in 2014

Abu Dhabi National Insurance Company (Adnic) has reported a net loss of Dh280 million ($76.2 million) for the year 2014 as compared to net profit of Dh156 million ($42.4 million) during the previous year. Net Investment Income inc

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Reem Investments profit jumps 61pc to $66m

Reem Investments, one of the leading investment companies in Abu Dhabi, announced a net profit of Dh245 million ($66.7 million) for the financial year 2014, an increase of 61 per cent from 2013 at its recent annual general meeting.

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City Centre Muscat logs 10m visitors in 2014

City Centre Muscat, the largest lifestyle shopping destination in Oman, recorded more than 10 million visitors in 2014, representing a seven per cent increase over the previous year. Retailers at the mall, owned and operated by Ma

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NBK-Bahrain 2014 net profit up 27pc to $145m

National Bank of Kuwait-Bahrain (NBK Bahrain), the subsidiary of NBK Group in Bahrain, reported net profits of $145 million for the year 2014 compared with $114 million in 2013, a growth of 27 per cent year-on-year. As of end of 2

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Bloominvest Saudi profit surges 16pc to $9.5m

Bloominvest Saudi Arabia, a leading investment company, has recorded a SR36 million ($9.59 million) net profit in fiscal year that ending 2014, marking an increase of 16% compared to the same period in 2013. Abdullah Al Rashoud, C

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Etisalat hails landmark year as profits hit $2.4bn

UAE-based Etisalat, a leading telecom group, has reported Dh8.9 billion ($2.4 billion) in profit for 2014 driven by strong performance of domestic operations, marking a 26 per cent rise over the previous year. Full year consolidat

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GCC records inflation rates of more than 3pc in 2014

The inflation rates across the GCC region ranged between 3.1 per cent and 0.8 per cent last year, according to the latest reports by the Statistical Centre for the Co-operation Council for the Arab Countries of the Gulf (GCC-Stat).

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Mena IPOs raise $11.5bn, highest since 2008

Companies in the Middle East and North Africa (Mena) region have raised $11.5 billion last year, through 27 initial public offerings (IPOs), nearly four times more than the $3 billion in 2013, according to a report. The Ernst &

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Zain Bahrain posts $10.9m net profit in 2014

Zain Bahrain generated revenues of BD71.8 million ($190.5 million) in 2014, a decrease of 8.1 per cent on the previous year's BD78.1 million ($207.1 million), a report said. EBITDA for the period reached BD27 million and BD29.

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Majid Al Futtaim aims to double in size after strong 2014

Dubai-based mall operator Majid Al Futtaim signalled on Tuesday it expects the emirate to remain a magnet for shoppers, announcing plans to double its business within five years as it reported strong results for 2014. The privatel

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