Mubasher: Fitch Ratings affirmed the long- and short-term Issuer Default Ratings (IDR) rating of GFH Financial Group at ‘B’, with the outlook on the long-term IDR remaining stable. Fitch has also maintained the senior unsecured long-term rating …
UAE - Mubasher: The UAE’s seasonally adjusted Purchasing Managers' Index (PMI) was kept unchanged from April 2024 at 55.3 in May, according to the latest S&P Global PMI data. The reading was still higher than its long-run average of 54.4, …
UAE – Mubasher: The UAE climbed from 13th to 6th globally for international tourism receipts in 2023 after logging $51.90 billion. Leading the rankings were the US at $176 billion, followed by Spain, the UK, France, and Italy, according to the UN …
UAE – Mubasher: Malaysian Prime Minister Anwar Ibrahim met with the UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi to deepen economic relations between the countries. Al Zeyoudi also held talks with Malaysian Investment, Trade, …
UAE – Mubasher: Kamil Al Awadhi, Regional Vice President for Africa and the Middle East at the International Air Transport Association (IATA), stated that passenger traffic in the UAE and the GCC is projected to grow by 4% annually between 2024 …
UAE – Mubasher: The Roads and Transport Authority (RTA) in Dubai has launched a strategy for the commercial and logistics land transport. The strategy aims to double the contribution of the land transport and logistics sector to Dubai's economy to …
UAE - Mubasher: The Dubai Chamber of Commerce highlighted that the GCC market remained the top global export and re-export destination for its member companies in the first quarter (Q1) of 2024. The GCC region accounted for 55.50% of total exports …
Dubai – Mubasher: Moody's Ratings has upgraded the long-term issuer rating of Dubai Electricity and Water Authority (DEWA) from ‘Baa2’ to ‘A3’, with stable outlook. Moody’s attributed the rating to DEWA's dominant market position in Dubai's power …
UAE – Mubasher: Dubai Multi Commodities Centre (DMCC) has signed a memorandum of understanding (MoU) with the Seoul Business Agency (SBA) to boost cooperation between the UAE and Korea in the fields of innovation, business activities, and trade. …
Mubasher: The crude oil market is witnessing a rise due to escalating tensions in the Middle East following the killing of an Egyptian soldier in a clash with Israeli forces, according to a report by Saxo Bank. The price of West Texas Intermediate …
Mubasher: The Middle East ranked as the fastest-growing real-time payment market for the second consecutive year in 2023, according to the 2024 Prime Time for Real-Time report by ACI Worldwide and GlobalData. The region's real-time payment market …
UAE – Mubasher: Emirati advanced technology and defence company EDGE has signed a cooperation agreement with the Abu Dhabi Department of Economic Development (ADDED) to enhance Abu Dhabi’s industrial capabilities. Under the agreement, EDGE will …
UAE – Mubasher: Moody's Ratings has affirmed the ‘Baa3’ long-term issuer rating of UAE-based Chemical industry company Fertiglobe, changing the outlook to positive from stable. The rating agency ascribed its decision to Abu Dhabi National Oil …
Cairo – Mubasher: The Egyptian Ministry of Petroleum and Mineral Resources plans to operate a new transportation pipeline for petroleum products on the Mediterranean coast, according to Al Arabiya Business. The new pipeline will link the MIDOR oil …
UAE – Mubasher: The Central Bank of the UAE (CBUAE) is set to auction AED 15 billion in monetary bills on 27 May 2024. The auction includes four issuances that will be released on 29 May, according to the Emirates News Agency. The first issuance …
UAE – Mubasher: The total passenger traffic passing through the terminals of Dubai International Airport (DXB) increased by 8.40% year-on-year to 23.05 million during the first quarter (Q1) of 2024. Total flight movements rose by 8.30% YoY to …
Riyadh – Mubasher: Saudi Arabia’s civil aviation sector is contributing $53 billion to the kingdom's economy, according to a report by the General Authority of Civil Aviation (GACA). The contribution of the sector to the Saudi economy includes …
Dubai - Mubasher: The board member of Shuaa Capital recommended issuing private placement and mandatory convertible bonds (MCBs) of up to AED 367 million, according to a bourse disclosure. The transaction is still subject to regulatory approvals …
UAE – Mubasher: The total value of the UAE’s e-commerce market is expected to surge to AED 48.80 billion by 2028 from AED 27.50 billion in 2023, according to a report by Dubai South’s e-commerce zone (EZDubai). The report ascribed the positive …
UAE – Mubasher: Dubai has ranked first in the Financial Times’ list of top global greenfield foreign direct investments (FDI) destinations in 2023, for the third year in a row. The emirate attracted 1,070 global greenfield projects in 2023, …
UAE – Mubasher: The UAE has been named the global leader in fibre-to-the-home (FTTH) penetration for the eighth consecutive year. The country has achieved an FTTH penetration rate of 99.30%, according to a report by the FTTH Council. The report …
UAE – Mubasher: The Central Bank of the UAE (CBUAE) has signed a memorandum of understanding (MoU) with Bank Indonesia to boost trade relations. Under the agreement, the two central banks will establish a framework to use local currencies in …
UAE - Mubasher: The card payments market in the UAE is expected to grow at a compound annual growth rate (CAGR) of 10.60% between 2024 and 2028, according to a report by GlobalData. The report forecast the market to reach a value of AED 764.10 …
Abu Dhabi – Mubasher: Fitch Ratings has affirmed Bank of Sharjah’s long-term issuer default rating (IDR) at 'BBB+' with a stable outlook. The rating agency upgraded the bank’s viability rating (VR) to ‘b-‘ from 'ccc+', according to a press …
UAE – Mubasher: The S&P Global Dubai Purchasing Managers' Index (PMI) signalled the lowest level for eight months in April 2024, after falling to 55.1 from 58 in March, according to the latest report. Meanwhile, the seasonally adjusted S&P Global …
