Hot News Headlines

BBK's net profit rises 7.8pc to $72.1 million

MANAMA: BBK has reported a growth of 7.8 per cent in net profit at BD27.2 million ($72.14m) for the six months ended June 30, when compared with BD25.2m for the corresponding period last year.

Earnings per share for the period are 27 fils as against 25 fils for the same period a year ago.


NBB's net profit surges 7.4pc to $76.4 million

MANAMA: NBB yesterday reported an increase of 7.4 per cent in net profit at BD28.74 million ($76.44m) for the six months ended June 30 when compared with BD26.77m for the corresponding period last year.

Batelco wins order freezing former partner's assets

MANAMA: A British court has ordered a worldwide freeze on assets of Batelco's former Indian investment partner Siva Limited and its chairman Chinnakannan Sivasankaran.

Italy firm sets terms for Alitalia-Etihad accord

ROME: Poste Italiane will only invest more money in Alitalia if it avoids taking on the airline's past liabilities, three sources close to the matter said yesterday, a condition likely to hamper a rescue deal with Etihad Airways.

Saudi growth forecast is raised by IMF

DUBAI: Saudi Arabia's economy is likely to grow 4.6 per cent this year, more than previously estimated, helped by a robust performance of the private sector, the International Monetary Fund (IMF) said yesterday.

KFH gains rise 6.4pc

DUBAI: Kuwait Finance House (KFH), the country's biggest Islamic lender, reported a 6.4 per cent rise in second-quarter net profit yesterday, slightly below analysts' estimates.

Atheeb provision blow for Mobily

DUBAI: Etihad Etisalat (Mobily), Saudi Arabia's No 2 telecom operator, matched forecasts yesterday despite a 18.6 per cent fall in second-quarter net profit caused by a provision against a scrapped network sharing deal with Atheeb Telecom.

Key role for Busbate at DHL Express

MANAMA: DHL Express has announced the appointment of Abdulaziz Busbate as the new country manager for DHL Express Bahrain.

SEC's gains increase by 144 per cent

DUBAI: Saudi Electricity Company (SEC) , the Gulf's largest utility firm, reported a 144 per cent jump in its net profit for the second quarter yesterday, beating analysts' forecasts because of a one-time gain.

Elite appoints new manager

MANAMA: Elite Hospitality Group has appointed Aditya Mata as the new general manager to oversee both the Elite Seef Residence and Hotel and the Elite Tower Residences.

Sukuk success

MANAMA: The monthly issue of Sukuk Al Salam Islamic securities floated to raise BD36 million has received subscription to the tune of 306 per cent, the Central Bank of Bahrain announced yesterday.

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