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Delta earnings increase 17pc

ATLANTA: Delta Air Lines yesterday said that second-quarter earnings rose 17 per cent, topping analystsÕ expectations, as passengers flew more miles at higher average fares and fuel spending declined.

The results from Delta, the worldÕs third-biggest airline company, produced a strong opening ...ReadMore

Insurance sector boost as gross premiums grow 8pc

MANAMA: BahrainÕs insurance market saw around eight per cent growth in gross premiums to BD258.41 million ($685m) last year when compared with the previous year, the Central Bank of Bahrain (CBB) said yesterday.

Seef Properties registers net profit of $9.1 million

MANAMA: Seef Properties has reported a 3.40 per cent increase in net profit at BD3.42 million ($9.06m) for the first half of the year when compared with BD3.31m for the same period last year.

Majid Al Futtaims revenues increase 14pc

MANAMA: Majid Al Futtaim, a Dubai-based shopping mall, retail and leisure major, yesterday announced its revenues for the first half of the year were up 14 per cent compared with the first half of last year.

AFS launches new products for banks

MANAMA: Arab Financial Services (AFS), a regional payment processor, has launched three new products that will be offered to all member banks.

CBQs gains decline 3pc in second quarter

DUBAI: Commercial Bank of Qatar (CBQ) suffered a three per cent decline in second-quarter net profit, Reuters calculations based on half-year figures from the bank showed yesterday, as higher costs and provisions overshadowed strong loan growth.

Dubai group planning to list shares

DUBAI: Dubai retailing and restaurants group Marka plans to list its shares on the Dubai Financial Market (DFM) in the second week of September, in what would be the bourseÕs first flotation for five years, the company said yesterday.

Iraq setback for Qatar telecom firm

DUBAI: QatarÕs Ooredoo reported a 11 per cent drop in second-quarter profit yesterday as the telecom operator was impacted by the political situation in Iraq and start-up costs for its business in Myanmar.

BNHs net profit surges 23.2pc to $6.15 million

MANAMA: Bahrain National Holding (BNH) has reported 23.2 per cent rise in consolidated net profit at BD2.34 million ($6.15m) for the six months ended June 30 when compared with BD1.90m for the same period last year.

Saudi investment fund to set up new companies

RIYADH: Saudi ArabiaÕs Public Investment Fund (PIF) aims to establish companies in areas including housing, petrochemicals and technology as it expands its investments locally and overseas, Finance Minister Ibrahim Al Assaf said.

Mercedes boosts Daimler earnings

FRANKFURT: GermanyÕs Daimler reported a 12 per cent gain in underlying second-quarter operating profit, propelled by Mercedes as its new C-Class and E-Class models helped the luxury carmaker lift margins.

Dubai lender gains soar 45 per cent

DUBAI: Mashreq, DubaiÕs third-biggest lender by assets, yesterday posted a 45 per cent rise in second-quarter net profit, aided by higher lending and a strong local economy.

VIVA launches key service

MANAMA: VIVA has launched a new service for 4G broadband data users to calculate their usage based on monthly Internet consumption.

NBK Bahrains net profit surges 38pc to $74.1m

MANAMA: National Bank of Kuwait-Bahrain (NBK Bahrain) yesterday reported a 38 per cent year-on-year growth in net profit at BD27.9 million ($74.1m) for the first half when compared with BD20.3m for the same period last year.

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Dow Chemical plans to sell more assets

NEW YORK: Dow Chemical said it would raise about $1 billion from the sale of corporate assets such as rail cars and that it was reviewing joint ventures, part of a plan to raise as much as $6bn through asset sales.

Boeings gains increase 52pc

NEW YORK: Boeing reported a 52 per cent jump in quarterly profit, helped by higher commercial plane deliveries and one-time tax gains, but investors were spooked by rising costs in its military tanker programme.

KIPCO is on track to hit revenue goal

DUBAI: Kuwait Projects Company (KIPCO), the Gulf stateÕs largest privately owned investment company, said it was on track to hit its target of a double-digit rise in revenue this year after reporting an 18 per cent increase in the first half.

Batelco offers new packages

MANAMA: Batelco has announced the introduction of shared postpaid mobile broadband data-only packages.

$400m payment

DUBAI: Saudi Electricity, the GulfÕs largest utility firm, will receive a payment of 1.5 billion riyals ($400 million) from oil giant Saudi Aramco as settlement of claims for using its electricity transmission systems, it said yesterday. The settlement covers payments due between 2007 and 2013.

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