UAE – Mubasher: Dubai International (DXB) has topped the 2023 list of top 10 busiest airports worldwide. The latest achievement marks DXB’s tenth year of leading the list, which is put by the Airports Council International (ACI), according to a …
UAE – Mubasher: The UAE is dependent on gas imports for power plants and water desalination plants in line with its objectives to become self-sufficient in gas supply by 2030. GlobalData, a leading data and analytics company, pointed out that …
UAE – Mubasher: The UAE’s Ministry of Finance is participating in the 2024 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Washington D.C. The Emirati delegation will be led by Mohamed bin Hadi Al …
Dubai – Mubasher: Al Ansari Exchange, a subsidiary of Al Ansari Financial Services, partnered with Al Etihad Payments (AEP), a unit of the Central Bank of the UAE (CBUAE), to boost seamless payments. The two entities will utilise Aani, an instant …
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 …
Mubasher: The number of flights between the UAE and Saudi Arabia surged by 13.30% during March amid increasing demand from those planning to perform Umrah rituals during the holy month of Ramadan. The month of Ramadan witnessed nearly 383 weekly …
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 …
UAE – Mubasher: EmiratesNBD Research cited preliminary estimates by the Statistics Centre - Abu Dhabi indicating that the capital of the UAE registered a 3.1% growth in real GDP during 2023. The non-oil sector, which expanded by 9.1% yet …
Abu Dhabi – Mubasher: Global rating agency Moody's has upgraded the Baseline Credit Assessment (BCA) and Adjusted BCA of Abu Dhabi Islamic Bank (ADIB) to 'baa3' from 'ba1'. Moody's affirmed ADIB’s local and foreign currency long-term issuer …
UAE - Mubasher: The UAE’s seasonally adjusted Purchasing Managers' Index (PMI) went down to 56.9 last March from 57.1 in February 2024, according to the latest S&P Global PMI data. The data reflected the joint-fastest accumulation of backlogs of …
UAE – Mubasher: The UAE occupied the eighth spot among the top 10 most globalised countries in the world in DHL’s Global Connectedness Report. The country marked the maximum improvement in performance concerning global connectedness since 2001, …
UAE – Mubasher: The UAE supplied 31.30 million barrels of crude oil to Japan in February 2024, representing 44.10% of the country’s oil needs throughout the month. Japan imported 71 million barrels of crude oil in February, according to the …
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 …
Dubai – Mubasher: Fitch Ratings asserted Ajman Bank's long-term issuer default rating (IDR) at 'BBB+', with a stable outlook and viability rating (VR) at 'b+', according to a press release. Mustafa Al Khalfawi, Group CEO of Ajman Bank, said: "We …
Mubasher: GFH Financial Group has appointed Zayed Alzayani as board Chairman of its subsidiary Roebuck, a London-headquartered Pan-European real estate logistics investor and asset manager. Alzayani has four decades of experience spanning senior …
Dubai – Mubasher: Shuaa Capital obtained the board’s approval to launch a consent solicitation relating to amending terms and conditions for $150 million in its issued bonds. In line with the listed company’s plans to enhance its capital …
Dubai – Mubasher: Al Ansari Financial Services has reported a large increase in money transfers from the UAE to Egypt following the Central Bank of Egypt’s (CBE) decision to float the Egyptian Pound and liberate its exchange rate based on market …
Dubai – Mubasher: The Commercial Bank of Dubai’s (CBD) annual general assembly meeting (AGM) has approved the distribution of AED 1.32 billion in cash dividends for 2023. The approved amount is equivalent to 50% of the bank’s net profit last year, …
UAE – Mubasher: Business activity in the UAE surged at its quickest pace in nearly five years in February 2024 amidst robust growth across the non-oil sector, with businesses experiencing strengthened conditions driven by significant increases in …
UAE – Mubasher: Dubai Multi Commodities Centre (DMCC) has signed a memorandum of understanding (MoU) with the World Gold Council (WGC) Middle East to boost the gold industry in the UAE and the MENA region. The MoU involves a comprehensive joint …
Abu Dhabi – Mubasher: Bank of Sharjah acted as a joint lead manager and book-runner in the issuance of a $750 million bond for the Government of Sharjah. The listed lender issued the 12-year U.S. dollar-denominated 144A/Reg S senior unsecured …
UAE – Mubasher: Dubai Chamber of Commerce (DCC) has attracted a record number of 67,222 new members in 2023, up 20% year-on-year (YoY) from the number of new companies joined in 2022. The number of DCC’s active members surged 26.8% YoY to 217,788 …
Riyadh – Mubasher: The MENA region could become 10% of MSCI Emerging Markets (EM) Index, with Saudi Arabia accounting for approximately 70% of this percentage, according to Goldman Sachs’ Richard Cormack, who is the Co-Head of Equity Capital …
UAE - Mubasher: The UAE’s seasonally adjusted Purchasing Managers' Index (PMI) hit 56.6 in January 2024, lower than 57.4 in December 2023, according to the latest S&P Global PMI data. This PMI marks the lowest reading for five months, while job …
Mubasher: The UAE and Saudi Arabia have dominated regional green bond league tables in 2023 with a combined 77% of total issuances in MENA, based on data from Bloomberg’s Capital Markets League Tables. The region witnessed an annual surge of 155% …
