Middle east news

MubasherTrade upgraded their rating to Hold - (Photo Credit: Arabianeye-Reuters)
5 hours ago MubasherTrade maintains Emaar Malls PT
Mubasher: MubasherTrade Research has maintained their price target (PT) for Emaar Malls at AED 2.79, and upgraded their investment rating from Sell/Low Risk to Hold/Low Risk, according to a report issued Monday. Emaar Malls is currently expanding …
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27 February 10:21 PM Egypt to apply 0.175% stamp duty on stock trades
Cairo - Mubasher: The chairman of the Egyptian Public Taxes Authority said on Monday that they conducted a study regarding applying stamp tax to the stock market trade. The study resulted in reaching the rate of 0.175% on both the buyer and …
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27 February 08:23 PM Pharos places underweight recommendation on Ezz Steel
Cairo - Mubasher: Pharos Research initiated their coverage on Al Ezz Dekheila Steel with an Overweight recommendation and on Ezz Steel with an Underweight recommendation, according to a report issued on Monday. The research firm also set the FV …
(Photo Credit: Arabianeye-Reuters)
27 February 08:09 PM S&P expects GCC commercial borrowing to fall to $75bn
  Mubasher: Standard & Poor’s said in a new report that it expects long-term gross sovereign commercial borrowing for the six member states in the GCC to decline to $75 billion in 2017, from $105 billion in 2016. Sovereign commercial debt with an …
(Photo Credit: Arabianeye-Reuters)
27 February 06:20 PM Rakta seeks to trim losses to EGP 24m in 2017-2018
Cairo – Mubasher: Rakta Paper Manufacturing on Monday said that its board has approved the proposed budget estimate for the fiscal year 2017-2018, which targets a reduction in losses by 19.52%. The board aims to trim the company’s net losses to …
DEWA plans to build 97 major transmission stations - (Photo Credit: DEWA website)
27 February 06:09 PM DEWA to establish new power stations at AED 10bn
Dubai – Mubasher: The Dubai Electricity and Water Authority (DEWA) began constructing new power stations to generate electricity in the Hessian area and Bin Rashid Al Maktoum Solar Park, at a value of AED 10 billion, according to Emirates news …
(Photo Credit: Arabianeye-Reuters)
27 February 05:52 PM Qatar transport sector profits fall 52% in Q4
By: Eman Ghaly Doha – Mubasher: Financial data by Qatar-listed transport companies showed a sharp drop in profits attributable to shareholders in the fourth quarter of 2016 by 51.6%, compared to figures from the same period in 2015. Profits by …
(Photo Credit: Arabianeye-Reuters)
27 February 05:02 PM UAE’s Agthia to complete Kuwait plant by 2017 end
By: Amr Adel Dubai – Mubasher: Abu Dhabi-based Agthia will likely complete its water bottling plant in Kuwait by the end of 2017, the company’s vice for water, beverage, and dairy Fasahat Beg said Thursday. The project, a joint venture with a …
The price per litre of diesel is set to reach QAR 1.55 on 1 March - (Photo Credit: Arabianeye-Reuters)
27 February 04:52 PM Qatar to raise fuel prices by QAR 0.05 in March
Doha – Mubahser: Qatar's Ministry of Energy and Industry decided to raise the prices of diesel, super, and premium grade fuel by QAR 0.05 (5 dirhams). The price per litre of diesel is set to reach QAR 1.55 on 1 March, compared with QAR 1.50 in …
Photo Credit: Company Website
27 February 04:48 PM UAE’s Al-Dahra to expand in Romania, Serbia
By: Amr Adel Dubai - Mubasher: The chief executive government officer of Al Dahra Holding, Sulaiman Al Nuamei, said on Monday that his company plans to expand in Serbia and Romania during current year. Sulaiman Al Nuamei added in his remarks to …
Photo Credit: Arabianeye-Reuters
27 February 04:30 PM General Company for Silos profits rise 74% in January
Cairo - Mubasher: General Company for Silos and Storage saw an increase in profits by 73.59% in January, according to the company’s statement to the Egyptian Exchange (EGX) on Monday. Profits reached EGP 10.52 million in January compared to EGP …
The project will produce 300,000 tonnes of wheat - (Photo Credit: Arabianeye-Reuters)
27 February 04:23 PM Al Dahra to launch phase 2 of Toshka project in 2018
By: Amr Adel Dubai - Mubasher: The chief executive government officer of Al Dahra Agricultural Holding, Sulaiman Al Nuamei, said that his company intends to begin working on the second phase of its project to reclaim 70,000 feddans in Toshka in …
The board members approved the share split (Photo Credit: Mubasher)
27 February 04:21 PM NBK Egypt’s board proposes capital hike
Cairo – Mubasher: The board of the National Bank of Kuwait – Egypt (NBK Egypt) has recommended increasing the issued capital to EGP 1.5 billion, by distributing bonus shares. The general assembly will hold a meeting to overview raising the …
The Egyptian Exchange (Photo credit: Mubasher)
27 February 03:55 PM EGX30 down 2% at close on foreign, Arab sales
Cairo – Mubasher: The EGX30 index of the Egyptian Exchange (EGX) ended Monday’s session falling by 2% or 245.9 points to the level of 12,023.93 points. Similarly, the EGX70, EGX100, and EGX50 indices fell 1.48%, 1.33%, and 2.08%, respectively. …
Pharos also set the stock target price at EGP 7.40 - (Photo Credit: Arabianeye-Reuters)
27 February 03:47 PM Pharos maintains GTH 'Overweight' recommendation
Cairo - Mubasher: Pharos Research maintained their "Overweight" recommendation on the stock of Global Telecom Holding, with a target price (TP) valuation range of EGP 7.40 to EGP 10.60 depending on tower sale proceeds, according to a recent …
Traded Values recorded highest level in February - (Photo Credit: Arabianeye-Reuters)
27 February 03:46 PM Tadawul sees biggest drop since mid-January
By: Thabet Shehata Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) ended Monday’s trading session with it biggest decline in a month and a half on the back of negative performances dominating the market sectors. Tadawul All Share Index …
Bahrain Cinema’s board recommended a cash dividend of 50% for FY16 (Photo Credit: Mubasher)
27 February 03:39 PM Bahrain Cinema Q4 profits plunge 40.1%
Mubasher: Bahrain Cinema reported a drop of 40.1% in profits during the fourth quarter of 2016 when compared to the same period of 2015. Earnings shrank to BHD 850,000 ($2.2 million) in Q4-16 from BHD 1.42 million ($3.6 million) in Q4-15, …
Photo Credit: Mubasher
27 February 03:33 PM Aayan Real Estate to consider financials 1 March
Mubasher: Aayan Real Estate will hold its board meeting on 1 March to discuss the consolidated financial statements for the fiscal year that ended on 31 December 2016, according to a bourse statement issued on Monday. During the nine-month period, …
Photo Credit: Mubasher
27 February 03:30 PM Sharjah Cement to discuss dividend proposal early March
Mubasher: The board of Sharjah Cement and Industrial Development Co will hold a meeting on 4 March to look over the recommendation of distributing dividends for fiscal year 2016. The board members of Sharjah Cement, which is listed on both Boursa …
The company will increase its capital to SAR 1.25 billion
27 February 03:28 PM CMA approves Cooperative Insurance capital hike
Riyadh - Mubasher: The Saudi Capital Market Authority (CMA) has approved on Monday the Company for Cooperative Insurance request to increase its capital from SAR 1 billion to SAR 1.25 billion, according to a statement. The capital increase will be …
BBK’s profits during the fiscal year stood at BHD 56.41 million (Photo Credit: Mubasher)
27 February 03:20 PM BBK posts higher profits in Q4
Mubasher: Bank of Bahrain and Kuwait (BBK) posted an increase of 1.7% in profits during the fourth quarter of 2016, as compared to the corresponding period of the previous year. Earnings rose to BHD 13.17 million ($33.8 million) in Q4-16 from BHD …
NBK's stock ended Monday’s session 1.35% lower at Boursa Kuwait (Photo Credit: Mubasher)
27 February 02:57 PM NBK Bahrain Q4 profits rise 14.3%
Mubasher: The National Bank of Kuwait – Bahrain (NBK Bahrain) achieved growth of 14.3% in profits during fiscal year 2016 as compared to the same period of 2015. Earnings increased to BHD 73.42 million ($188.61 million) in FY16 from BHD 64.21 …
Boubyan now owns a stake of 21.12% in Nafais  (Photo Credit: Mubasher)
27 February 02:40 PM Boubyan Petrochemical raises stake in Nafais
Mubasher: Boubyan Petrochemical Co said that one of its employees, who is a board member in Nafais Holding, has purchased 5.28 million shares or a 1.25% stake in Nafais. The purchase price reached 210 fils per share, with an overall value of KWD …
Trump needs to lay out a clear plan regarding trade and tax policies - (Photo Credit: Arabianeye-Reuters)
27 February 02:05 PM Stock investors await Trump's speech to Congress
By: Mahmoud Gamal Mubasher: Investors are anticipating the US president's address to a joint session of Congress on Tuesday, with expectations of a big impact on the business environment in the US. Financial analyst at ForexTime (FXTM) Hussien …
The benchmark index ended Monday’s trades on a positive note (Photo Credit: Arabianeye-Reuters)
27 February 02:01 PM Industry, real estate boost QSE at close Monday
Doha – Mubasher: The Qatar Stock Exchange’s (QSE) benchmark index ended Monday’s trades on a positive note, backed by four of its sectors, particularly industry and real estate. The index edged up 0.02% or 1.73 points and closed at 10,938.80 …