Qatar Navigation to buy Qatar Petroleum stake in Al Shaheen
Qatar Navigation (Milaha) has reached a preliminary agreement to buy Qatar Petroleum's stake in oilfield services firm Al Shaheen Holding, Milaha said in a bourse filing on Sunday. Qatar Petroleum hired HSBC in February to advise it on the sale of Al Shaheen as the state-owned Qatari energy giant, grappling with low oil and natural gas prices, seeks to divest from non-core businesses.
Dubai, Qatar Climb; Gulf Navigation Surges
Stock markets in Dubai and Qatar rebounded in early trade on Sunday in response to strong global markets, though Abu Dhabi was dampened by weak earnings from Union National Bank. The Dubai stock index added 1.2 percent as Gulf Navigation, the most heavily traded stock, gained 6.3 percent. Integrated Capital, controlled by Abu Dhabi Financial Group, raised…
Qatar Navigation Q3 Profit Up 1.8%
Qatar Navigation (Milaha) reported a 1.8 percent rise in third-quarter net profit on Sunday, in line with analysts' estimates. The shipper's net profit was 308 million riyals ($84.6 million) for the three months to Sept. 30, up from 302.5 million riyals in the year-ago period, according to Reuters calculations based on its financial statements. QNB Financial…
