DUBAI: Dubai-listed logistics firm Aramex posted a second-quarter net profit of 38.4 million dirhams ($10.45 million), up 15 percent from the year-earlier period. “Despite inflationary pressures in the region, we continue to perform well and remain optimistic that the remainder of the year will produce similarly consistent results,” Aramex Chief Executive Fadi Ghandour said in a statement on Sunday.

STC launches new promotion

JEDDAH: Saudi Telecom launched its new promotional campaign “With ALJAWAL You are a Winner” for its post-paid customers. Customers will receive a free gift every month after being notified by SMS. They will also be entered in a draw to win six luxury cars. The draw will be held twice a month. This promotional campaign targets all post-paid ALJAWAL customers in addition to new customers and those switching to ALJAWAL. Customers will also receive one free service on a monthly basis that includes 10 SMS, 10 MMS, 10 voice, 10 video calls.

Mobily’s investor relations site

JEDDAH: As part of its proactive anticipation of shareholder and investor community needs, Mobily has launched a specialized tool available on Mobily e-portal, according to a statement issued by the company. “We put a premium on serving every investor, with regular, consistent and clear communications,” said Khalid Al-Kaf, Mobily’s managing director and chief executive officer. “We want to raise awareness of Mobily’s financial performance and prospects through openness and adequate information,” he added.

Emaar Financial plans Saudi unit

DUBAI: Emaar Financial Services, whose shareholders include developer Emaar Properties, said yesterday it would start a financial services firm in Saudi Arabia as part of a regional expansion plan. Emaar Saudi Financial Services would have capital of 100 million dirhams ($27.23 million) and start operations after getting final approval from Saudi authorities, Jamal Yassin, head of Emaar Financial’s head of international business development, said.

Alafco buys four Airbus aircraft

KUWAIT: Kuwait’s Aviation Lease and Finance Co. (Alafco) agreed to buy four new A320 aircraft from Airbus in a deal worth $308 million at list prices, Alafco said yesterday. The aircraft would be delivered between 2009 and 2010, Alafco said in a statement on the Kuwait bourse website. Alafco has confirmed orders for 66 aircraft from Airbus and Boeing Co. worth about $9 billion for delivery between 2009 and 2017, it said last month.

DIFC denies stake in Rashed Bank

DUBAI: Dubai International Financial Center (DIFC) said yesterday it was not a member of the founding consortium of Rashed Investment Bank and does not have a financial stake in the venture. Al-Bayan newspaper said last week that DIFC would be among the main investors in Rashed Investment Bank, an Islamic bank which will have a paid up capital of $500 million.

ArcelorMittal to build Mexico mill

BRUSSELS: ArcelorMittal SA, the world’s largest steelmaker, said yesterday it would build a $600 million (385 million euros) steel mill in Mexico and buy a coking coal plant in the United States.