DOHA: The Islamic Holding Group’s net profit for the first half of 2013 reached QR4.4m, compared with QR4.1m for the same period in 2012.
Dr Yousuf Al Nama, chairman and managing director, said the results confirms that the Group is moving in the right direction and working on consolidating its position in the domestic market and making great efforts to upgrade the company’s various activities.
The Group disclosed its financial results for the period following the meeting of the company’s Board of Directors chaired by Dr Yousuf Al Nama, yesterday.
The Peninsula
DUBAI: Saudi Cement Co reported a 5.9 percent increase in second-quarter net profit yesterday, due to a rise in local demand for cement. The company posted a second-quarter net profit of SR307m ($81.7m) compared to SR290m in the same period in 2012, but missed analyst expectations. A poll of eight analysts had estimated an average second-quarter profit of SR333.4m. Net profit for the first six months of 2013 was SR647m, up 5 percent from the previous year.
DUBAI: Barclays has named Cedric Lizin as the head of its wealth and investment management division for the Middle East and North Africa region.
Lizin, who has been with the lender since 2007, has held the roles of chief operating officer for Asia Pacific and head of Barclays’ wealth management joint venture with Sumitomo Mitsui Banking Corporation and SMBC Nikko Securities Inc during his time at the bank, the bank said. Rory Gilbert, Barclays’ previous Mena wealth management head, will continue at the bank in a new role, a spokesman said without elaborating further. Reuters
