Business

GROHE Continues to Count on its Innovative Strength in 2018
February 04, 2018

GROHE Continues to Count on its Innovative Strength in 2018

GROHE, the world’s leading provider of sanitary fittings, continues to fully count on its innovative strength in 2018. In the upcoming months, among other things, the plans are to expand the production of fittings to the 3D printing process and to implement first test prints in a pilot project. In March, GROHE will launch its...

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E-City announces ambitious AED 67 million expansion bid for GCC region in 2018
February 04, 2018

E-City announces ambitious AED 67 million expansion bid for GCC region in 2018

E-City, the electronics retail arm of Albatha Group, one of the UAE’s largest conglomerates, has revealed a strategic AED 67 million expansion initiative that is aimed towards reinforcing the company’s market presence in the UAE and the GCC region. The move demonstrates the company’s continuing efforts to further...

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LGB BANK signs the first syndicated funding agreement in Lebanon in collaboration with international Development Finance Institutions
February 01, 2018

LGB BANK signs the first syndicated funding agreement in Lebanon in collaboration with international Development Finance Institutions

LGB BANK signed a USD 67.5 million funding agreement in collaboration with FMO, OFID and OeEB to support Small and Medium Enterprises, during a ceremony held in the Austrian Capital of Vienna. In addition to the USD 32.5 million provided by The Dutch Development Bank (FMO), OPEC Fund for International Development (OFID)...

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3 months ago
Majid Al Futtaim records resilient performance with continued investments in strategic initiatives
February 01, 2018

Majid Al Futtaim records resilient performance with continued investments in strategic initiatives

Key Highlights:   Improved overall group revenue by 8% year-on-year to AED 32.2 billion Increased EBITDA by 1% year-on-year to AED 4.2 billion At constant FX rates, group revenue would have grown by 14% and EBITDA by 5% Opened Mall of Egypt, the country’s first super-regional shopping mall Accelerated Carrefour’s...

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3 months ago
Bank Audi Consolidated Activity Highlights as at End-December 2017
January 30, 2018

Bank Audi Consolidated Activity Highlights as at End-December 2017

Lebanon’s economic activity improved modestly in 2017, as suggested by the evolution of real sector indicators. In parallel, the contraction in banking aggregates in November post PM Hariri’s resignation weighed on the figures in the first 11 months of the year, yet without their growth slipping into cumulative negative...

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McDonald’s Brings the “Experience of the Future” to Lebanon
January 29, 2018

McDonald’s Brings the “Experience of the Future” to Lebanon

McDonald’s Lebanon held a grand reopening ceremony for its state of the art and completely renovated branch in Dora. Present was Karim Miknas, the company’s Managing Partner, McDonald’s Restaurant Support Center managers, employees, suppliers and partners as well as media representatives and social media...

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Lufthansa joins the aviation elite as Europe’s only five-star airline in the Middle East
January 29, 2018

Lufthansa joins the aviation elite as Europe’s only five-star airline in the Middle East

Lufthansa has received five-star certification from British aviation consulting specialist, Skytrax, making it the first airline outside Asia for this achievement. The quality rating for premium service and first-rate comfort has placed Lufthansa in the select group of now ten airlines that have been given this coveted rating....

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Arab Bank Group reports net profits of $533 million for 2017 30% cash dividends
January 29, 2018

Arab Bank Group reports net profits of $533 million for 2017 30% cash dividends

Arab Bank Group closed 2017 with solid results, reporting a growth in net operating income of 8% as compared to prior year. Excluding the effect of foreign currency devaluations, net operating income achieved double digit growth of 12%. Net income after tax is at $533 million as compared to $532.7 million in 2016, whilst loans...

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3 months ago
IFC and DGGF commit to “EIP Levant Fund”
January 25, 2018

IFC and DGGF commit to “EIP Levant Fund”

Emerging Investment Partners (EIP), a private equity fund management company, announced that its “EIP Levant Fund” has received capital commitments from the “International Finance Corporation” (IFC – member of the World Bank Group) and the Dutch Good Growth Fund. EIP, stated that the fund, with a target size of USD...

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Successful cooperation between Lufthansa and the airport:
January 23, 2018

Successful cooperation between Lufthansa and the airport:

Five-star summit: It’s a combination seen nowhere else in the European airport universe. Back in 2015, Munich Airport became the first European hub to be granted the prestigious status of “Five-Star Airport” by the London-based Skytrax Institute. Now Lufthansa has followed as Europe’s first and – to...

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3 months ago
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