NBB-SIOAM complete BisB share purchase

MANAMA: Arab Petroleum Investments Corporation (Apicorp) yesterday reported record net profit of $109 million for last year.

DUBAI: Abu Dhabi private equity firm Gulf Capital is close to signing a 1.32 billion dirhams ($359.38 million) Islamic loan for its company Gulf Marine Services, some of which will be paid out to investors as dividends.

MANAMA: Bahrain Kuwait Insurance (BKIC), part of the Gulf Insurance Group, has decided to adopt a common logo for all the subsidiary companies so as to reflect a unified brand identity across the group companies.

DUBAI: Saudi developer Dar Al Arkan could raise around $300 million through its first global debt issue in more than three years, aiming to secure funding to capitalise on opportunities in Saudi's real estate sector.

MANAMA: Ahli United Bank (AUB) is rapidly expanding point of sale (POS) acquiring in Bahrain with state-of-the-art systems and terminals and innovative features.

MANAMA: Huawei yesterday unveiled its latest series of Ascend smartphones across the Middle East.

MANAMA: Crowne Plaza Bahrain has announced the appointment of Mona Ibrahim as director of sales and marketing.

ABU DHABI: Abu Dhabi National Energy Company (Taqa) yesterday said it was looking at ways to improve the liquidity of its shares but had not taken any steps to remove a barrier to foreigners holding its stock.

KUWAIT CITY: Kuwait's vital oil sector has undergone a major reshuffle, with new executives appointed for the subsidiaries of Kuwait Petroleum Corporation, after a new KPC chief was named, the national oil firm said yesterday.

DOHA: Three Qatari state-backed entities, including the nation's acquisitive sovereign wealth fund, are setting up a $1 billion fund to invest in overseas energy infrastructure assets.

MANAMA: Bahrain Mumtalakat Holding Company yesterday announced the appointment of a new board at the Bahrain Airport Company (BAC).

AL KHOBAR: Saudi Aramco has invited bids for the construction of a 2,400 megawatt power plant in Jizan, near a 400,000 barrel-per-day oil refinery which it is currently building, two industry sources said yesterday.

MANAMA: The K Hotel yesterday announced the appointment of Sascha Benoit as the director of food and beverage.

MANAMA: Taha International Corporation has appointed Tom Gilbert as its new general manager.

DUBAI: Saudi Arabia will import near record high diesel volumes this summer, as it gears up to beat the sweltering heat and meet rising travel needs during Ramadan, trade sources said.