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07 May 01:22 AM

Sector News

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10 December 2023 05:47 PM Saudi stc leads innovation hub project with GCC Telco Alliance; listed firms included
Riyadh – Mubasher: Saudi Telecom Company (stc) has announced the Sustainability Innovation Hub as part of its collaboration with GCC Telco Alliance members, which include leading telecom operators from Saudi Arabia, the UAE, Bahrain, Oman, and …
Companies Investments
Al Sulaiti has occupied several roles in Ooredoo since 2004
20 May 2021 00:23 PM Ooredoo appoints new CEOs in Oman, Algeria
Mubasher: National Mobile Telecommunications Company (Ooredoo) has appointed Noor Al Sulaiti as CEO of Ooredoo Oman and Bassam Yousef Al Ibrahim as CEO of Ooredoo Algeria. With over 17-year experience in the telecom industry, Al Sulaiti is the …
Management Decisions
The company's revenues decreased by 1.81%
5 November 2020 02:32 PM Omantel's net profits down 12% in 9M
Mubasher: Oman Telecommunications (Omantel) reported an 11.95% decline in its net profits attributable to the shareholders to OMR 46.4 million ($120.13 million) during the first nine months of 2020 from OMR 52.7 million ($136.44 million) in the …
Financial Results
Photo Archive
3 November 2020 03:20 PM Muscat Gases posts 26.6% lower profit in 9M
Mubasher: The Muscat Gases Company (MGC), listed on the Muscat Stock Exchange (MSM), witnessed a decrease in its profits during the first nine months of 2020 by 26.6% year-on-year (YoY). The company’s preliminary financial results showed that it …
Financial Results
Photo Archive
31 August 2020 01:41 PM National Gas expects no impact on its Saudi operations after JV cancellation
Mubasher: Oman-based National Gas said it expects no negative effects on the company’s current core operations in Saudi Arabia after its proposed joint venture (JV) with the Tadawul-listed National Gas and Industrialization Company (GASCO) was …
Companies Investments
The decision will have no financial impact on the company’s results
30 August 2020 00:19 PM GASCO cancels gas extension investment plan with Omani firm
Riyadh – Mubasher: National Gas and Industrialization Company (GASCO), listed on the Saudi Stock Exchange (Tadawul), announced that its board of directors decided not to proceed with plans with Oman-based National Gas to invest in a new gas …
Companies Investments
The bond was issued in May 2017
3 March 2020 05:26 PM Fitch assigns BBB- rating to ACWA Power bonds
Riyadh – Mubasher: ACWA Power Investment and Management One Ltd. (APMI One) announced that Fitch Ratings has assigned a BBB- rating to its $814 million 5.95% senior secured bond, with a stable outlook. The bond, issued in May 2017 by ACWA Power’s …
Bonds
Part of the signing ceremony
12 February 2020 09:51 PM Egyptian gov’t signs MoU with Saudi ACWA Power
Cairo – Mubasher: Egypt’s housing and electricity ministries on Wednesday signed a memorandum of understanding (MoU) with Saudi Arabia’s ACWA Power to conduct primary and feasibility studies for water desalination plants powered by renewable …
Macroeconomics
CAFU delivers quality petrol in both Super 98 and Special 95
21 January 2020 05:06 PM Fuel delivery app CAFU expands int’l business to Oman
Dubai – Mubasher: The MENA’s first on-demand fuel delivery app CAFU has signed an agreement with Oman's Al Maha Petroleum to provide its services in the Sultanate, as part of its international expansion plan. Firstly, the Dubai-based tech firm's …
Companies Investments
The new station includes various eco-friendly features
8 January 2020 05:34 PM Oman Oil Marketing Company launches sultanate’s 1st green service station
Mubasher: Oman Oil Marketing Company (OOMCO) has launched the sultanate’s first green service station, according to a statement released on Wednesday. Located in Rusayl in northeastern Oman, the new station includes various eco-friendly features, …
Macroeconomics
Unlimited fixed Ooredoo minutes will be given to subscribers
2 January 2020 02:43 PM Omani Ooredoo to provide Ruwi with Super Fibre Network
Mubasher: Oman Qatari Telecommunications (Ooredoo Oman) will extend its Super Fibre Home Internet service to Ruwi City Centre in Muscat next week to provide its residents with up to 1Gbps starting from OMR 28 per month. The Super Fibre service’s …
Companies Investments
Photo Archive
23 December 2019 01:52 PM ACWA Power to build solar plants in Ethiopia
Riyadh – Mubasher: ACWA Power has signed two long-term power purchase agreements (PPA) with Ethiopia’s state-owned Ethiopian Electric Power Company (EEP) for two 125-megawatt (MW) solar photovoltaic (PV) projects. The agreement sets a tariff of …
Macroeconomics
The solar complex was completed with 100% Saudisation rate in first year
27 November 2019 00:46 PM Acwa Power completes KSA’s first solar project
Riyadh – Mubasher: ACWA Power announced the successful connection of the Sakaka Solar PV Plant, Saudi Arabia’s first renewable energy project, to the national grid. The SAR 1.2 billion solar energy project has commenced initial production under a …
Companies Investments
Abdulsalam Al Murshedi was appointed as the new chairman
9 June 2019 11:35 AM Omantel names new chairman
Mubasher: Oman Telecommunications (Omantel) on Sunday announced the appointment of a new chairman. Abdulsalam bin Mohammed Al Murshedi was named as the new chairman, succeeding Sultan bin Hamdoon Al Harithi, the telecom firm said in a statement to …
Company News
Majan College plans to list its shares on the DFM
28 April 2019 01:20 PM Majan College to list shares on DFM
Dubai – Mubasher: Majan College announced that its extraordinary general assembly has approved the proposal to list its shares on the Dubai Financial Market (DFM). The assembly has also authorized the board to take all the procedures according to …
Companies Investments
Omantel has recorded revenues of OMR 2.186 billion in 2018
31 March 2019 11:09 AM Omantel OKs OMR0.50/shre dividend for FY18
Mubasher: Oman Telecommunications’s (Omantel) ordinary general meeting (OGM) has approved to a cash dividend distribution of OMR 0.50 per share for 2018, accounting for 50% of the company’s capital, the company’s deputy chairman said. Omantel has …
Financial Results
Etisalat was named the most valuable telecoms brand in the region
7 March 2019 03:53 PM 8 GCC telecom firms among top valuable brands in 2019
By: Mahmoud Gamal Abu Dhabi – Mubasher: Eight GCC telecommunications companies ranked among the world’s 300 top valuable telecoms operator brands in 2019, according to a recent study by Brand Finance. The UAE telecom operator Emirates …
Macroeconomics
Revenues leapt 190.81% to OMR 2.186 billion
17 February 2019 04:10 PM Omantel’s profits jump 109% in 2018
Mubasher: Oman Telecommunications (Omantel) posted 109.32% profit hike in 2018, according to the company's first annual financial results after its merger with Kuwait’s Mobile Telecommunications (Zain). The Muscat-listed firm said its profits …
Financial Results
OOMCO’s expansion plans include investing in Tanzania’s fuel retail market
11 February 2019 02:17 PM Oman Oil Marketing eyes expansion in Saudi Arabia, Tanzania
Mubasher: Oman Oil Marketing Company (OOMCO) announced plans to further continue its global expansion in Saudi Arabia and Tanzania. OOMCO aims to achieve strategic growth by introducing its one-stop-shop service stations internationally, Times of …
Macroeconomics
The two firms further noted that they are evaluating studies for this potential expansion
2 December 2018 01:34 PM Oman’s National Gas, GASCO eye expansion in Saudi Arabia
Mubasher: Oman-based National Gas and National Gas and Industrialization Company (GASCO) are considering available opportunities for expanding their business in Saudi Arabia. The two firms further noted that they are evaluating studies for this …
Companies Investments
Photo Archive
14 November 2018 07:36 PM Acwa Power estimates $5m cost of turbine muddle
Mubasher: ACWA Power Barka is expecting losses of approximately OMR 2 million ($5.2 million) due to a technical problem in a gas turbine at the company’s power and water station in Oman, located 60 kilometers north of Muscat. The incident at the …
Companies Investments
The loan agreement has a repayment period up to five years
29 August 2018 04:54 PM Zain inks $700m revolving loan
Mubasher: Mobile Telecommunications (Zain) announced that it has signed an agreement to refinance revolving credit facilities valued at $700 million. Signed with a consortium of regional and international banks, the loan agreement has a repayment …
Banking and Finance
The Benban Solar Park in Aswan will be be the biggest solar installation in the world
9 January 2018 06:38 PM Acwa Power to build 3 solar plants in Egypt
Cairo - Mubasher: Acwa Power has finalized agreements to establish three photovoltaic (PV) projects in the biggest solar power complex in Aswan, Egypt. The $190 million projects will have a capacity of 165.5 Mega Watt peak (MWP). “Our first …
Companies Investments
13 November 2017 04:29 PM Omantel gets majority of Zain’s board seats
Mubasher: Oman Telecommunications (Omantel) has nominated four new members for the board of directors of Mobile Telecommunications (Zain). The CEO of Omantel, Talal Al Moaamary, was appointed as a non-executive member in Zain’s board of directors, …
Board of Directors
Omantel is now the second largest shareholder in Zain Group
13 November 2017 02:24 AM Omantel raises stake in Zain to 22%
Mubasher: Oman Telecommunications (Omantel) has won an auction for 12.1% stake in Zain, thus becoming the second largest shareholder in Zain Group with a 21.9% stake, after the Kuwait Investment Authority, which owns a 24.60% stake. The total …
Mergers and Acquisitions