Arabian Business – May 06, 2018

10 Vol. 19/18, May 2018

PERSON OF THE WEEK DIARY

PETROCHEMICALS UP/DOWN

BUSINESS

EVENTS

ACROSS

THE REGION

BAHRAIN

Women Power Summit

What: The summit aims to

showcase new opportunities

for investments, partnerships,

and collaborations with

female entrepreneurs and

investors in the region.

When: May 6-

Where: Isa Culture Centre,

Manama

DUBAI

The Institute of

Internal Auditors

Conference 2018

What: The four-day event is

expected to draw more than

2,500 delegates from over

100 countries who will share

their insights on the industry

When: May 6-

Where: Dubai World

Trade Centre

DUBAI

Airport Show and

Airport Leaders Forum

What: It is the world’s largest

exhibition for airports, their

ancillary services and several

other aviation related products.

When: May 7-

Where: Dubai World

Trade Centre

SAUDI ARABIA

KSA Solar Industry

Briefi ng & Networking

What: The meeting aims

to bring together decision-

makers including government

authorities and key developers

from the solar industry

to exchange of ideas and

expertise and pave the way

for business partnerships.

When: May 8

Where: Sheraton Hotel, Riyadh

As the Pearl Consortium

secured three blocks for

exploration in Iraq during

last week’s bid, Dana Gas found

new highs during to refl ect the

potential prospect’s effect on

the business. The company has

been securing a promising

business backlog through

agreements and, going forward,

the only lagging factor could be

a potential drop in energy prices

if US president Donald Trump

decides not to re-impose

sanctions on Iran.

Investor confi dence has

affected the contractor

following statements

suggesting a potential capital

increase through a secondary

share issuance with a low price

band of AED1.25. They then

decided to choose the alternative

plan that initially took the stock

higher. The new plan would be

issuing convertible sukuk with a

potential conversion at AED2.70.

As appealing as this might be,

investors are now weary of the

associated concerns.

SENIOR FINANCIAL ANALYST AT MENACORP ISSAM

KASSABIEH GIVES HIS VIEW ON TWO MORE UAE STOCKS

Q WITH SUCH

EXPANSION, WE ARE

CREATING GROWTH

OPPORTUNITIES

WITHIN THE

KINGDOM OF

BAHRAIN’S

FINANCIAL AND

TOURISM SECTORS

AMONGST OTHERS”

5.5 million

Price at press

AED1.

Price at press

AED0.

DSI DANA GAS

d u

SABIC PROFIT RISES
5.4 PERCENT ON
HIGHER PRICES
First-quarter profit at
Saudi Basic Industries
Corp (SABIC), the
region’s biggest
petrochemicals producer,
rose on higher prices and
sales volumes, in spite
of a SAR1.1bn ($290m)
charge for restructuring.
Net income increased
5.4 percent to SAR5.51bn
compared with the same
quarter a year earlier,
the company said in a
statement to the Saudi
stock market. The result
was in line with an
estimate of SAR5.55bn.

Follow us on ArabianBusiness arabianbusiness #arabian business arabianbusiness

The number of passengers

Gulf Air expects to handle

this year

Subscribe to our YouTube channel for regular updates

EVERY WEEKDAY, 10am

ARE

WTH

RS

RS”

Gulf Air’s fi rst Boeing

787-9 Dreamliner has

now been delivered,

the fi rst of the Bahraini

fl ag carrier’s incoming

fl eet of 39 new aircraft.

Gulf Air chairman

Zayed Bin Rashid Al

Zayani describes the

new aircraft as “a

game-changer for the

kingdom’s carrier”.

Zayed Bin

Rashid Al Zayani