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UAE news

The banks sector topped the decliners
31 May 02:16 PM DFM closes Sunday in red zone
Dubai – Mubasher: The benchmark index of the Dubai Financial Market (DFM) decreased by 0.83% or 16.39 points to settle at 1,945.09 points by the end of Sunday's trading session, keeping its downward performance for the second session in a row. The …
The per-litre price of Super 98 gasoline will be maintained at AED 1.91
28 May 05:31 PM UAE announces fuel prices for June
UAE – Mubasher: Fuel prices will remain unchanged in June in the UAE when compared to prices in May, the UAE Fuel Price Follow-up Committee announced. The per-litre prices of Super 98-octane gasoline, Special 95-octane gasoline, diesel, and E-Plus …
Aljeda will succeed Iyad Kamal who will leave the company on 31 May
28 May 04:37 PM Aramex names new acting COO
Dubai – Mubasher: Aramex, listed on the Dubai Financial Market (DFM), on Thursday announced the appointment of Othman Aljeda as the company’s acting chief operating officer (COO). Aljeda will succeed Iyad Kamal who will leave the company on 31 …
A total of 139.40 million shares were exchanged
28 May 03:47 PM ADX ends Thursday in red
Abu Dhabi – Mubasher: The main index of the Abu Dhabi Securities Exchange (ADX) closed Thursday’s trading session on a negative note with the decline of blue-chips such as First Abu Dhabi Bank (FAB) which slid by 0.89%. The general index fell by …
Emirates NBD generated AED 879.53 million in turnover
28 May 02:07 PM DFM drops 1.1% at Thursday's close
Dubai – Mubasher: The benchmark index of the Dubai Financial Market (DFM) fell by 1.15% or 23 points to end Thursday’s trading session at 1,961.48 points, dragged by falling blue-chips led by Emaar Properties which dropped by 3.10%. The market cap …
The total number of recoveries increased to 16,685
28 May 01:57 PM UAE records 563 new COVID-19 cases; tally at 32,532
UAE – Mubasher: The UAE has detected 563 new coronavirus (COVID-19) cases after conducting more than 38,000 new tests. This brings the total number of cases to 32,532 across the country, the Ministry of Health announced on Thursday. The UAE also …
DP World seeks to connect all its 82 container terminals with TradeLens
28 May 01:42 PM DP World collaborates with TradeLens on global supply chain digitisation
Dubai – Mubasher: DP World on Thursday announced the completion of early integration with TradeLens, a blockchain-based digital container logistics platform, developed by A.P. Moller - Maersk and IBM, listed on the New York Stock Exchange (NYSE). …
Investments of banks in debt instruments rose by AED 1.8 billion YoY
28 May 01:03 PM UAE’s banks raise investments in bonds, stocks in April amid COVID-19 uncertainty
UAE – Mubasher: Banks operating in the UAE increased their investments in bonds and stocks at the end of April as investors search for safe-haven investments amid the coronavirus (COVID-19) outbreak. Investments of banks in debt instruments rose …
The number of COVID-19 infections in the UAE totalled 31,969
28 May 12:32 PM UAE gov't announces return to work at 30% capacity on Sunday
UAE – Mubasher: A maximum of 30% of UAE employees will return to work in federal ministries, authorities, and institutions starting from Sunday, 31 May, the Federal Authority For Government Human Resources (FAHR) announced. The decision for the …
Union Properties incurred a net loss of AED 218.806 million in 2019
28 May 11:27 AM Union Properties expects verdict in AED 1.5bn claim in 18M
Dubai – Mubasher: Union Properties expects a final verdict to be delivered in its AED 1.5 billion arbitration claims against a contractor within 18 months until the end of 2021, according to a press released on Thursday. The claim is related to …
Brent crude oil for July delivery retreated by 4.6% or $1.65
28 May 10:58 AM Kuwait’s crude oil down to $28.05 pb – KPC
Mubasher: The price of Kuwait’s crude oil fell by 56 cents to $28.05 per barrel (pb) on Wednesday from $28.61 pb on Tuesday, according to the official prices released by Kuwait Petroleum Corporation (KPC). Globally, Brent crude oil for July …
The global oil market has been supported by OPEC’s output cut deal
27 May 05:57 PM Kuwait’s crude oil rises $2.14 pb on Tuesday - KPC
Mubasher: The price of Kuwait’s crude oil reached $28.61 per barrel (pb) on Tuesday, 26 May, up by $ 2.14, compared to $26.47 pb last Friday, according to the official prices released by Kuwait Petroleum Corporation (KPC). The global oil market …
Dubai approved easing restrictions on movement
27 May 05:41 PM Dubai gov’t staff to fully return to office on 14 June
Dubai – Mubasher: Dubai issued a decision allowing 50% of government employees to return to work at offices starting from Sunday, 31 May, while taking all precautionary measures against coronavirus (COVID-19).  All employees will resume their work …
Selling and distribution expenses dropped to AED 49.1 million
27 May 04:20 PM Julphar’s loss down 30% in Q1-20; accumulated losses at AED 566m
Abu Dhabi – Mubasher: Gulf Pharmaceutical Industries (Julphar) incurred AED 62.5 million in net losses attributable to shareholders during the first quarter of 2020, down from AED 89.1 million in the year-ago period. Net sales fell to AED 114.6 …
Around 286.68 million shares were exchanged
27 May 02:15 PM DFM gains AED 3.8bn in market cap at Wednesday’s close
Dubai – Mubasher: The benchmark index of the Dubai Financial Market (DFM) grew by 2.35% or 45.57 points to end Wednesday’s trading session at 1,984.48 points in tandem with the economic reopening. The market cap value increased by AED 3.86 billion …
The market cap gained AED 2.53 billion
27 May 02:04 PM ADX ends Wednesday in green after Eid holiday
Abu Dhabi – Mubasher: The main index of the Abu Dhabi Securities Exchange (ADX) closed Wednesday’s trading session on a positive note in its first session after the three-day Eid Al Fitr holiday. The general index rose by 0.51% or 20.86 points to …
The strategy’s top priority is to increase Amanat’s top line
27 May 01:14 PM Amanat Holdings reveals initiatives to cut costs, raise top-line revenue
Dubai – Mubasher: The GCC’s leading healthcare and education investment firm Amanat Holdings announced a group of optimisation initiatives to capitalise on its strategic objectives by strengthening its balance sheet and identifying growth …
Union Properties incurred a net loss of AED 218.806 million in 2019
27 May 12:44 PM Union Properties’ unit initiates arbitration procedures to claim AED 1.5bn
Dubai – Mubasher: Union Properties announced that a fully-owned subsidiary company undertook legal procedures to claim about AED 1.5 billion. “The Executive Management will not spare any effort in pursuit of the collection of the amount owed,” …
The DFM-listed firm’s accumulated losses amounted to AED 363.2 million
27 May 11:45 AM Salama's profit down to AED 13.6m in Q1-20
Dubai – Mubasher: Islamic Arab Insurance Company (Salama) reported AED 13.65 million in net profits attributable to shareholders in the first quarter of 2020, down by 8.7% from AED 14.96 million in the year-ago period. Gross written contributions …
The judgments will be enforced on Haigh’s assets in the UK and the UAE
27 May 10:47 AM GFH wins judgment against former employee
Dubai – Mubasher: GFH Financial Group announced that it has won a judgment issued by the High Court of England and Wales against the former employee David Haigh. This judgement confirms the previous one issued by the Dubai International Financial …
Photo Archive
26 May 02:43 PM Oman crude oil up 68 cents on Tuesday
Mubasher: The price for Omani crude oil for July delivery increased by 68 cents on Tuesday, according to the Dubai Mercantile Exchange (DME). The barrel price amounted to $37.70 on Tuesday, compared to $37.02 on Monday. The price for June …
UAE Ministry of Health and Prevention
26 May 01:26 PM UAE reports 779 new coronavirus cases, 325 recoveries
Mubasher: The UAE Ministry of Health and Prevention (MoHAP) announced the increase of the number of recovering cases from the coronavirus (COVID-19) by 325 to a total 15,982. Moreover, 779 new infections were detected, bringing the total number of …
The study schedules for different education levels were released
26 May 01:15 PM UAE schools to resume studying online this week
UAE – Mubasher: The UAE will be getting its education systems up and running again as schools will be resumed online, starting from Wednesday, 27 May. The resumption decision includes all government and private schools that follow the education …
Saudi Aramco is currently the most profitable company worldwide
26 May 11:02 AM World's top 2,000 list includes 40 Arab companies; Aramco ranked 5th
By: Amal A. Wahaab Mubasher: This year's Forbes Global 2000 list saw the inclusion of 40 companies from the Arab world in the magazine's ranking of the world's top 2,000 companies, based on assets, profits, revenues, and market value.  Oil giant …
Economic activities will be allowed from 6:00 a.m. to 11:00 p.m
26 May 09:19 AM Dubai to reopen business activities on Wednesday
Dubai – Mubasher: The Crown Prince of Dubai, Sheik Hamdan bin Mohammed, has chaired a virtual meeting with Dubai’s Supreme Committee of Crisis and Disaster Management and approved resuming economic activities, starting Wednesday 27 May, from 6:00 …