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19 January 01:37 AM

UAE news

BisB will continue to be listed on Bahrain Bourse
4 hours ago NBB acquires 78.8% stake in Bahrain Islamic Bank
Mubasher: The National Bank of Bahrain (NBB) on Saturday announced that its offer to acquire up to 100% of the paid-up ordinary shares of the Bahrain Islamic Bank (BisB) resulted in the control of a 78.8% stake in the Islamic bank, according to …
Banking and Finance
The MBR Solar Park is set to be fully operational by 2030
5 hours ago DEWA to operate MBR Solar Park 3rd phase in April 2020
UAE – Mubasher: The third phase of the Mohammed bin Rashid Al Maktoum Solar Park (MBR Solar Park) in Dubai is set to be operational in April 2020, the Dubai Electricity and Water Authority (DEWA) said on Saturday, according to the Emirates News …
Macroeconomics
Non-oil exports grew 14% YoY in H1-19
18 January 07:50 PM UAE’s non-oil exports to total AED 240bn in 2019
UAE – Mubasher: The value of the UAE’s non-oil exports is expected to reach AED 240 billion in 2019, undersecretary of the Emirati economic ministry for foreign trade, Abdulla Al Saleh stated on Saturday. The country’s non-oil exports grew 14% …
Macroeconomics
18 January 07:12 PM Toshiba’s CEO to add title of president in April 2020
​​​​​​​Mubasher: CEO of Japanese multinational conglomerate Toshiba Corporation is set to add the title of president in April 2020, Bloomberg reported on Saturday.
Global Markets brief
Part of the signing ceremony
18 January 05:06 PM Mubadala’s unit wins maintenance contract for solar field
UAE - Mubasher: Mubadala Investment Company’s subsidiary Sanad Powertech has won a contract for the maintenance, repair, and overhaul operations of the steam engine and power generator of Shams Power Company. The project is a joint venture between …
Companies Investments
Kuwaiti economy is still dependent on oil returns
18 January 04:26 PM S&P affirms Kuwait's credit rating at ‘AA’; Outlook stable
Mubasher: Standard and Poor's (S&P) has affirmed Kuwait's credit rating at (AA) with a stable outlook, the Kuwait News Agency reported on Saturday. The rating agency said that the Kuwaiti economy is still dependent on oil returns, which accounts …
Macroeconomics
17 January 08:39 PM Commercial, military satellites market to record $195.11bn in 8 years
Mubasher: The global commercial and military satellite market is expected to record a CAGR of 76.6% to $195.11 billion in 2020- 2028.
Global Markets brief
Dana Gas gained 2.45%
17 January 06:53 PM Banks boost ADX in January’s 3rd week
Abu Dhabi – Mubasher: The general index of the Abu Dhabi Securities Exchange (ADX) increased by 103.44 points, or 2.03%, to 5,179.12 points in the week ended 16 January 2020, pushed up by the banking sector which added 2.27%. Market capitalisation …
Stock Evaluations
The banking increased by 2.1%
17 January 06:26 PM DFM adds 80 pts in week
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index grew by 79.02 points, or 2.87%, to reach 2,828.28 points in a week. Market capitalisation gained AED 8.21 billion to hit AED 381.71 billion over the week, compared to AED 373.5 …
Trading Activities
17 January 04:44 PM Volkswagen to acquire $560m stake in Chinese EV battery maker
Mubasher: Volkswagen is nearing the closure of a deal to acquire a 20% stake in China’s electric vehicle battery maker Guoxuan High-tech Company.
Global Reports
16 January 09:18 PM Tesla considers building design & research centre in China
​​​​​​​Mubasher: Tesla is reportedly planning to open a design and research centre in China to make ‘Chinese-style’ vehicles, according to Reuters.
Global Reports
16 January 05:54 PM Package holiday market seen at $632bn by 2023 despite challenges
Mubasher: The global package holiday market has been experiencing several uncertainties since the collapse of the UK’s travel operator, Thomas Cook.
Global Reports
16 January 05:50 PM Isuzu partners with Honda for hydrogen fuel-cell technology
Mubasher: Isuzu and Honda have penned an agreement to conduct a joint research and development (R&D) on hydrogen fuel-cell powered heavy-duty trucks, according to GlobalData.
Goods and Metals
Participants stressed the crucial role of government support to achieve gender quality
16 January 05:13 PM WiSER forum highlights digitalisation’s role in women empowerment
Abu Dhabi – Mubasher: The global leading renewable energy company Masdar held its fifth annual Women in Sustainability, Environment and Renewable Energy (WiSER) Forum on Tuesday, January 14 at Abu Dhabi Sustainability Week (ADSW) 2020. During an …
Event
16 January 04:31 PM US’ Southwest Airlines extends cancellation of Boeing 737 MAX flights
Mubasher: US-headquartered Southwest Airlines has announced that it will extend cancellations of Boeing 737 MAX flights until 6 June 2020, Reuters reported on Thursday.
Global Markets brief
Top officials from DoE & IRENA signing the MoU
16 January 04:23 PM DoE boosts sustainable energy via IRENA’s deal, new innovation platform
UAE – Mubasher: Abu Dhabi Department of Energy (DoE), the principal partner for Abu Dhabi Sustainability Week 2020 (ADSW), signed a Memorandum of Understanding (MoU) with the International Renewable Energy Agency (IRENA), the leading …
Macroeconomics
The board's decision was approved by circulation
16 January 03:12 PM Gulf Navigation’s board agrees on AED 125m Sukuk issue
Dubai - Mubasher: The board of Gulf Navigation Holding, the only maritime and shipping company listed on the Dubai Financial Market (DFM), approved by circulation to issue Sukuk worth AED 125 million. The announcement came during the board’s …
Financial Results
The real estate segment declined by 0.86% on Thursday
16 January 02:57 PM ADX ends Thursday higher; liquidity totals AED 170m
Abu Dhabi – Mubasher: The main index of the Abu Dhabi Securities Exchange (ADX) levelled up by 0.10% or 5.07 points to 5,179.12 points at Thursday’s close. The trading value registered AED 169.98 million after 50.32 million shares were traded …
Trading Activities
The banks instrument went up by 1.37% on Thursday
16 January 02:31 PM DFM closes Thursday in green; turnover hits AED 309.7m
Dubai – Mubasher: The benchmark index of the Dubai Financial Market (DFM) closed Thursday’s trading session up by 0.37% or 10.29 points at 2,828.28 points. The market’s turnover registered AED 309.70 million as 174.96 million shares were exchanged …
Stock Evaluations
Trading will be effective on 19 January 2020
16 January 01:15 PM Abu Dhabi Aviation to open trading for foreigners
Abu Dhabi – Mubasher: Abu Dhabi Aviation Company, listed on the Abu Dhabi Securities Exchange (ADX), on Thursday requested to open the trading on its shares for foreigners by a percentage not exceeding 30% of the share capital. The company further …
Trading Activities
Deem's Chris de Bruin and Mastercard's Girish Nanda
16 January 12:17 PM Deem, Mastercard pen agreement to offer 6 new card products
UAE – Mubasher: Deem, a digitally-led financial services provider in the UAE, has partnered with Mastercard to provide its customers with six new card products. Under the agreement, Deem’s user-friendly digital platform will allow cardholders to …
Companies Investments
The energy solutions will offer clients higher asset value
16 January 12:14 PM Masdar, France's EDF Group set up energy services JV
UAE – Mubasher: Masdar, a subsidiary of Mubadala Investment Company and one of the top renewable energy companies worldwide, has entered into an agreement with EDF Group, a global French low-carbon electricity leader, to set up a joint venture …
International Agreements
Marketing of the deal to potential buyers may begin in weeks
16 January 11:26 AM ADIA may sell $2bn stake in private-equity funds
UAE - Mubasher: Abu Dhabi Investment Authority (ADIA) plans to sell about $2 billion of its stakes in private-equity funds, Bloomberg recently reported. Currently, ADIA is working with advisers in PJT Park Hill regarding the potential deal, …
Companies Investments
Tabari is currently under investigation by the Jordanian authorities
16 January 11:01 AM DSI confirms news on former CEO arrested in Jordan
Dubai – Mubasher: Drake & Scull International (DSI) on Thursday confirmed the accuracy of the news recently published on Arabian Business concerning the travel ban issued against its former CEO, Khaldoun Tabari, following an Interpol notice …
Law
The reclassification will have no relation to GFH’s performance
16 January 10:27 AM GFH’s shares on Boursa Kuwait reclassified to main market
Dubai – Mubasher: GFH Financial Group announced that Boursa Kuwait has reclassified the segment of GFH’s shares on it from the premier market to the main market. The reclassification coincides with the bourse’s recent market segmentation plans …