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16 April 07:20 AM

Kuwait news

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15 April 06:34 PM Green Hydrogen Summit to kick off in Abu Dhabi; Boris Johnson among int’l lineup
UAE – Mubasher: The second edition of the Green Hydrogen Summit will take place in the UAE capital on 16 April 2024, as part of the World Future Energy Summit (WFES), and it will be hosted by Abu Dhabi Future Energy Company (Masdar) under the …
Event
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15 April 02:41 PM Qalaa Holdings settles over EGP 13bn in debt with 5 banks
Cairo – Mubasher: Qalaa Holdings has signed an agreement to settle debt with five banks to settle around EGP 13.45 billion in debt. The first agreement was signed with Banque Misr, Banque du Caire, Arab African International Bank, and Al Ahli Bank …
Banking and Finance
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15 April 11:19 AM Ducab Group unveils plan to expand in 20 new markets
UAE – Mubasher: Ducab Group, a UAE-based manufacturing firm, has revealed a strategic plan to expand into 20 new markets. The plan will bring the company’s operations to 75 countries across the Middle East, Africa, Asia, Australasia, Europe, and …
Global Economy
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15 April 10:04 AM GFH seeks to acquire Ithmaar Holding’s portfolios
Mubasher: GFH Financial Group announced plans to acquire the financing and investment portfolios of Ithmaar Holding, according to a bourse disclosure. GFH highlighted that discussions are in progress to finalise the transaction structure, which is …
Mergers and Acquisitions
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11 April 07:02 PM Saudi Arabia, Kuwait’s crude oil production rises in March; UAE shows decline
Mubasher: The Saudi crude oil production surged by 20,000 barrels per day (bpd) to hit 9.03 million bpd in March 2024 compared with 9.01 million bpd in February, according to the latest OPEC report. The average crude oil production by Saudi Arabia …
Global Economy
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11 April 02:41 PM UAE’s global aerospace engineering firm Sanad extends $145m deal with Asiana Airlines
UAE – Mubasher: Global aerospace engineering and leasing solutions leader Sanad, which is wholly owned by Abu Dhabi’s sovereign investor Mubadala Investment Company, has renewed a five-year contract with Asiana Airlines, the second largest airline …
Companies Investments
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9 April 04:04 PM Saudi Arabia leads Forbes list of “Most Valuable Banks”
Mubasher: Forbes Middle East has revealed its ‘30 Most Valuable Banks’ ranking, with Saudi Arabia leading the list via 10 entries at an aggregated market value of $279.50 billion. As of 23 February 2024, the 30 banks had a combined value of …
Global Economy
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7 April 02:36 PM Etihad Airways boosts operations in Middle East via new destination
UAE-Mubasher: Etihad Airways added the Saudi province of Al Qassim to its growing list of destinations, increasing its total number of Saudi gateways to four. This move aligns with the company’s objectives to expand its network and enhance …
Global Economy
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7 April 01:12 PM Gulf banks could benefit from macroeconomic shift in Turkiye – Fitch Ratings
Mubasher: Potential macroeconomic changes in Turkiye are set to benefit subsidiaries of GCC-based banks in the country. A disinflation in Turkiye is set to cut GCC banks’ net losses and the decelerated devaluation of the lira is expected to reduce …
Global Economy
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7 April 12:25 PM Egypt leads Middle East in Forbes fintech ranking with 13 companies
Cairo – Mubasher: Egypt led the Middle East as the most represented country in the Forbes ranking list of the region’s top companies in the financial technology (fintech) sector. The 13 Egyptian companies represented in the list include Fawry for …
Companies Investments
Akın Garzanlı, Chief Marketing Officer and Chief Customer Officer of MEA
4 April 03:19 PM Turkey-based Arçelik expands footprint in MENA via acquisition deal
Mubasher: Turkish multinational household appliances manufacturer Arçelik, Beko’s parent company, has acquired Whirlpool’s operations in the MENA region, according to a press release. Under the acquisition deal, Arçelik currently owns Whirlpool’s …
Companies Investments
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4 April 01:01 PM Saudi PIF’s SITE acquires 10% of South Korea-based AhnLab
Riyadh – Mubasher: Saudi Information Technology Company (SITE), Wholly owned by the Public Investment Fund (PIF), and its subsidiary SITE Ventures, have entered into a dual investment with AhnLab, a cybersecurity company in South Korea. The PIF …
Global Economy
Noor Al Sulaiti, the Head of Security Business Development at Google Cloud for META
4 April 11:56 AM Google Cloud appoints Al Sulaiti to lead cybersecurity business for META
Mubasher: Google Cloud has named Noor Al Sulaiti as the Head of Security Business Development and Government Relations for the META region. Al Sulaiti will add her experience in the telecommunications and technology sectors to her new role, …
Global Economy
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3 April 01:36 PM GMG, VF Corporation join forces to expand footprint across MENA
Mubasher: Global retail conglomerate GMG expanded its 12-year partnership with VF Corporation to foster the presence of VF's brands in the region, according to a press release. The joint agreement aims to grow the network of new mono-brand partner …
Global Economy
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3 April 12:40 PM FAB partners with Microsoft to boost financial services globally
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) and Microsoft teamed up to develop new AI-based banking capabilities and bolster financial services, according to a press release. The two entities will partner to launch an AI Innovation Hub that …
Global Economy
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2 April 04:00 PM BBS Technology boosts cybersecurity solutions in MENA
Mubasher: BBS Technology, a developer of next-generation cybersecurity solutions, provided companies in the MENA region with enhanced solutions to avoid cyber-attacks sponsored by global states. Chairman of TITLE at BBS Technology, Bedir Sarı, …
Companies Investments
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2 April 03:34 PM Informatica launches Saudi Arabia’s 1st AI-powered IDMC platform
Mubasher: Informatica launched its AI-backed Intelligent Data Management Cloud (IDMC) in Saudi Arabia, which was the first in the Kingdom, according to a press release. The investment includes developing a new point of delivery (PoD) in Riyadh in …
Companies Investments
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2 April 01:03 PM Ekttitab Holding’s accumulated losses cross 65.5% of capital
Mubasher: Ekttitab Holding incurred accumulated losses valued at KWD 20.95 million at the end of the fourth quarter (Q4) of 2023, according to a bourse disclosure. The registered accumulated losses, which represent 65.76% of the paid-up capital, …
Financial Results
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2 April 11:49 AM Global digital agency Like Digital expands footprint in Saudi Arabia
Riyadh – Mubasher: Like Digital, a global digital agency with offices in the UK and UAE, teamed up with AstroLabs to expand its operations into Saudi Arabia. This step aligns with Like Digital’s growth plans to boost its footprint across the …
Companies Investments
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1 April 04:56 PM GFH Partners injects $450m in US real estate sector
Mubasher: GFH Partners Limited, a subsidiary of GFH Financial Group, has invested $450 million in the US real estate sector between the fourth quarter (Q4) of 2023 and Q1-24. In the Medical Clinics sector, GFH Partners has a portfolio of assets …
Real estate
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1 April 12:33 PM Emirates NBD Capital leads Lenovo's debut facility in Middle East
Dubai – Mubasher: Emirates NBD Capital, the investment banking arm of Emirates NBD, has arranged a $500 million syndicated revolving credit facility (RCF) for Lenovo Group Limited. The facility marks Lenovo's first entry into the Middle East …
Companies Investments
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28 March 03:59 PM Middle East, Eurasia make 32% of SMEs drawn to Dubai in 2023
UAE – Mubasher: Around 32% of the Small and Medium-sized Enterprises (SMEs) attracted by Dubai in 2023 originated from the Middle East and Eurasia. Meanwhile, 29% of SMEs drawn to the emirate come from Asia and Australia, according to data …
Global Economy
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26 March 02:54 PM Mubadala Investment acquires 100% of pan-African biopharmaceuticals platform KELIX bio
UAE – Mubasher: Mubadala Investment Company has acquired a 100% stake in KELIX bio, a leading emerging markets biopharmaceuticals platform. The sold stake represents the full ownership of Development Partners International (DPI), an investment …
Mergers and Acquisitions
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26 March 11:56 AM E7 Group boosts security solutions in Middle East
Abu Dhabi – Mubasher: E7 Group inked three security solutions contracts at a total value of AED 12.90 million to expand its network in the UAE and Middle East, according to a press release. The one-year agreements cover the manufacture and supply …
Companies Investments
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25 March 02:49 PM National Industries reports KWD 47m consolidated profit in 2023
Mubasher: The consolidated net profit after tax and directors’ remuneration of National Industries Group Holding (NIG) surged to KWD 46.77 million in 2023 from SAR 33.92 million a year earlier. Revenues from sales and contracts with customers …
Financial Results