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Discuss this article (0 Comments)Arabic Press Review - 18 July 2007
by This email address is being protected from spam bots, you need Javascript enabled to view it on Wednesday, 18 July 2007
In today's Arabic press, Kuwaiti newspaper Alam Alyawm reveals that Kuwaiti aircraft lessor Aviation Lease and Finance Co. (ALAFCO) net profit rose 38%.
The company saw a profit of 5.6 million dinars ($19.52 million) in the third quarter of its fiscal year which starts October 1, Chairman Ahmad al-Zabin told a news conference.
ALAFCO yesterday announced it has purchased two B737-900 planes from Sky Airlines and four A320 planes from an Indian airlines firm and leased them to the same firms.
It has also sold an A320 plane to Yemen Airways and plans to provide 15 A320 aircraft to Turkish Airlines
Earlier this month Alafco announced that it had ordered 10 more of Boeing Co.'s 787 Dreamliner planes, worth about $1.6 billion at list prices, bringing its total of 787s on order to 22.
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In the UAE today, Al Ittihad reports that Abu Dhabi Ports Co. has appointed HSBC Holdings Plc as its financial adviser to help finance its Khalifa Port and Industrial Zone project.
Financing options include equity or debt, the paper said, citing a company statement.
The Khalifa Port project includes a port and industrial, logistics, commercial, educational and residential zones.
...and in other news...
Al Bayan, UAE: Emaar Properties has appointed Sarhad Haffar, who has experience in architecture and design, as general manager for Emaar Syria.
Al Khaleej, UAE: Dubai Ports World plans to add 200 metres of berthing space to its facilities at the Port of Brisbane in Australia to take the total to 900 metres by 2009.
Al Qabas, Kuwait: Al Safwa Group has notified the bourse about plans to buy 44% of Shuaiba Paper Products Co. at 500 fils per share.
Alam Alyawm, Kuwait: Islamic lender Kuwait International Bank has opened 11 local branches this year.
Al Alam Al Youm, Egypt: International banks are invited to lead-manage the sale of 80% of Banque du Caire.
Al Hayat, Saudi Arabia: Southern Cement made a net profit of 193 million riyals in the second quarter of 2007, up 14.9% from the year-earlier period.
Al Hayat, Saudi Arabia: Aldrees fuel stations and transport services company made a second-quarter net profit of 15.4 million riyals, an increase of 26.3% from the same period in 2006.
Al Watan, Saudi Arabia: The retail tranche of Kingdom Holding's initial public offering was 81% covered two days before subscriptions close on Wednesday.
Al Watan, Kuwait: International Investment Group is studying plans to buy a stake in Kuwait's third mobile operator through a consortium with Turkcell.
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