News in brief

Omantel posts second consecutive record profit
Dubai: Omantel has posted its second consecutive record profit in the second quarter. Net income in the three months to June 30 rose 13 per cent to 24.45 million riyals ($63.51 million), compared with 21.64 million riyals in the year-earlier period. Profit in the six months to June 30 was 48.475 million riyals, compared with 42.936 million riyals, or 0.057 riyals per share, a year earlier, Omantel said.

Investment Dar hikes Boubyan stake
Kuwait City: Kuwaiti Islamic firm Investment Dar has raised its stake in Boubyan Bank to 20 per cent, the limit allowed by the central bank, the bourse said. Investment Dar said in June it had won central bank approval to buy as much as a fifth of the Islamic lender.

NMC Trading ties up with Indian firm
Dubai: NMC Trading, a UAE-based firm with interests in pharmaceuticals trading, pharmaceuticals manufacturing and fast-moving consumer goods for local sales and export market, yesterday said it has tied up with Chakola Ayurvedics, an Indian manufacturer of beauty care products, to market and distribute Chakola's range of ayurvedic products in the UAE market.