Latest News

UAE- Mubasher: Emirates NBD has partnered with Citi to introduce a new USD cross-border clearing service in the Middle East. Emirates NBD will be the first bank to utilise Citi’s 24/7 USD Clearing service, offering round-the-clock cross-border …

Abu Dhabi – Mubasher: Omorfia Group, a beauty anchor majority owned by Multiply Group, has fully acquired the Grooming Company Holding (TGCH), a provider of salon and beauty services in the UAE. Omorfia closed the deal with CedarBridge Capital …

Cairo – Mubasher: The Egyptian Exchange (EGX) has launched the Shariah-complaint index, EGX33. The index comprises 33 meticulously selected companies whose activities adhere to the principles of Islamic Shariah, according to a press release. These …

Cairo – Mubasher: Egypt’s Mineral Resources Authority (MRA), East Gas Company, and IMEX International have signed an agreement to establish a company that will increase the value of low-concentration phosphate ores. Minister of Petroleum and …

Mubasher: The GCC region has reigned over Forbes' 2024 list of top 100 listed companies in the Middle East by sales, assets, and profits. The list was led by the UAE with 32 firms, followed by Saudi Arabia with 31, according to a press release. …

UAE – Mubasher: Elevate, a London and Dubai-based fintech, has secured $5 million in a pre-Series A funding round to boost its expansion into the Middle East and Africa, according to a press release. Founded in 2021 by Faris Keenan, Khalid Keenan, …

Mubasher: Saudi Arabia, the UAE, and Egypt accounted for 92% of total venture capital (VC) funding in the MENA region, according to a report by MAGNiTT. Saudi startups raised $400 million in VC funding in 2023, up 602% year-on-year (YoY), the …

Mubasher: National Mobile Telecommunications Company (Ooredoo) appointed Sunita Bottse as the CEO for Mena Digital Hub, which became effective on 26 May 2024, according to a press release. Mena Digital Hub, Ooredoo’s carrier-neutral data centre …

UAE – Mubasher: Dubai-based AI startup qeen.ai has secured a $2.20 million pre-Seed funding round to reshape the global e-commerce landscape in the MENA region, according to a press release. The fundraising was led by Wamda Capital, along with …

Mubasher: UAE-based traveltech Tumodo has partnered with Saudi fintech Tabby to accelerate growth in the UAE travel industry, which is projected to reach $1.40 trillion by 2024. Integrating Tumodo's services into Tabby's business processes will …

Cairo – Mubasher: Ericsson teamed up with Vodafone Egypt to expand the latter’s mobile network with the introduction of Ericsson’s triple-band radio, supporting Time Division Duplex (TDD) and Frequency Division Duplex (FDD) spectrum. Radio 4466, …

Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA), Vision International Investment Company (Vision Invest), and Gulf Investment Corporation (GIC) closed the financing arrangements for the Juranah Independent Strategic Water Reservoir …

Abu Dhabi – Mubasher: Burjeel Holdings has signed a framework agreement to establish a joint venture (JV) AL KALMA with Keralty S.A.S, a Colombia-based multinational health organization. The alliance plans to develop and operate an integrated …

Mubasher: The Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, collectively referred to as OPEC+, have agreed to extend significant oil production cuts into 2025, according to Reuters. OPEC+ has decided 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 …

UAE – Mubasher: Dubai-based purpose-built software as a service (SaaS) platform Growdash has raised a AED 6.80 million ($1.80 million) in a seed round, according to a press release. The fundraising transaction was led by Oryx Fund, a MENA-focused …

Mubasher: Assem El-Bassal, the CEO of Mubasher Media as well as Global Financial Media, stated that choosing Mubasher.info financial portal as the Best Economic Platform during the Arab Media Award crowns years of hard work in the economic …

UAE – Mubasher: Winning the Arab region’s Best Economic Platform award for the year 2024 confirms the efforts exerted by Mubasher.info’s team of journalists and content creators as well as the marketing and social media, stated Ahmed El-Shamsy, …

UAE – Mubasher: TVM Capital Healthcare launched a $250 million Afiyah Fund LP, led by Saudi Public Investment Fund (PIF)-backed Jada Fund of Funds Company. The transaction also included the participation of a group of Saudi, GCC, and European …

Cairo – Mubasher: MENA region's mobile-first investment platform Thndr expanded its services to the UAE after acquiring a Category 3A licence with retail endorsement from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority …

Dubai – Mubasher: Dubai Industrial City, part of Tecom Group, has officially launched 13.90 million sq.ft of additional land capacity within its ecosystem, according to a press release. The additional land capacity was acquired through a AED 410 …

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 …

UAE – Mubasher: Mubasher.info, a comprehensive financial platform and news portal, has won the Digital Media Award 2024 for being the Best Economic Platform at the Arab Media Forum. Ahmed El-Shamsy, the Editor-in-Chief of Mubasher Media, received …