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24 November 02:44 PM

UAE news

moments ago Elon Musk becomes world's second-richest person
Elon Musk has officially overtaken Bill Gates to become the world's second-richest person.
Global Reports
The board plans to expand its investment portfolio
moments ago Aman's board agrees on three-year growth plan
Dubai – Mubasher: The board of Dubai Islamic Insurance and Reinsurance Company (Aman) has approved a three-year growth plan to strengthen the company's financial position by focusing on operational expansion and investment performance. Under the …
Board of Directors
Gulf Navigation Holding posted the highest trading volume
45 minutes ago DFM up on Tuesday; ADX down
UAE – Mubasher: The UAE stock markets have ended Tuesday's trading session on a varied note. The benchmark index of the Dubai Financial Market (DFM) rose by 1.92% to settle at 2,399.50 points by the end of Tuesday's trading session. A total …
Trading Activities
The Sukuk was oversubscribed 5.7 times
1 hour ago DIB lists $1bn Sukuk on Nasdaq Dubai
Dubai – Mubasher: Dubai Islamic Bank (DIB) has celebrated the listing of a $1 billion Sukuk on Nasdaq Dubai, according to a press release on Tuesday. With a profit rate of 4.625% per annum, the Sukuk was oversubscribed 5.7 times for attracting …
Sukuk and Islamic Finance
Jadwa acquired a stake in UEMedical in 2016.
1 hour ago Saudi Jadwa appoints HSBC to advise on exiting UEMedical
Riyadh – Mubasher: Saudi Arabia’s Jadwa Investment's private equity arm has hired HSBC to advise on the sale of its stake in Abu Dhabi healthcare group United Eastern Medical Services (UEMedical), Reuters reported on Tuesday citing two sources …
Companies Investments
The agreement reinforces the airline's relations with CFM
2 hours ago Air Arabia signs nine-year agreement for LEAP-1A-powered aircraft
Dubai – Mubasher: Air Arabia has inked a comprehensive nine-year agreement with CFM International, which will provide time and material support to the airline’s fleet of six LEAP-1A-powered A321neo aircraft. The agreement reinforces the airline's …
Companies Investments
Over 73% of UAE consumers are shopping more online for groceries
2 hours ago UAE records surge in online shopping amid COVID-19
UAE - Mubasher: A total of 73% of UAE consumers has started to shop more online since the beginning of the coronavirus (COVID-19) pandemic, according to a Mastercard study. The study referred that the e-commerce sector in the UAE has witnessed …
Macroeconomics
Both companies will cooperate in mixing VLSFO with Neutral Fuels biofuel
3 hours ago Uniper Energy, Neutral Fuel collaborate to deliver maritime fuel in Fujairah
UAE - Mubasher: Uniper Energy DMCC (UED) and Neutral Fuel in Dubai have announced their collaboration to provide Fujairah in the UAE with maritime biofuel. The UED's businesses focus on supplying very low sulfur fuel oil (VLSFO), while Neutral …
Companies Investments
Cairo Metro Line 4 will be constructed as a new underground line
4 hours ago Orascom Construction's consortium signs $800m contract for Cairo Metro Line 4
Mubasher: Orascom Construction PLC's consortium with Mitsubishi Corporation has inked an $800 million contract with Egypt's National Authority for Tunnels (NAT). Under the contract, the consortium will implement the railway systems, track and …
Companies Investments
The assets of UAE banks rose by 3.2% QoQ in Q3-20
5 hours ago UAE's listed banks record highest growth in assets in GCC in Q3-20
UAE - Mubasher: The listed banks in the UAE achieved the highest quarter-on-quarter (QoQ) growth in assets across the GCC countries during the third quarter (Q3) of 2020, according to a report published by Kamco Invest. The assets of UAE banks, …
Banking and Finance
The sale of the project includes an initial payment of 10%
09:34 AM Deyaar awards AED 370m construction contract
Dubai – Mubasher: Deyaar Development has awarded a AED 370 million contract to the primary contractor Gammon & Billimoria to construct the third and fourth phase within Midtown community. Phase three named 'Noor District' was opened for sale, and …
Real estate
The 16-week programme was created by Nawah
23 November 04:00 PM Nawah celebrates first Emiratis' graduation from Barakah Plant Certification programme
UAE - Mubasher: Nawah Energy Company (Nawah) has celebrated the graduation of the first UAE National leaders from its Barakah Nuclear Energy Plant Management Certification programme. The graduates comprise seven Emiratis approved by the Nawah …
Event
23 November 03:49 PM AstraZeneca-Oxford COVID-19 vaccine can be 90% effective
Mubasher: The UK’s pharmaceutical giant AstraZeneca announced that its coronavirus (COVID-19) vaccine could be about 90% effective.
Global Reports
The terminal will tackle the shortage of storage facilities
23 November 03:42 PM AquaChemie to construct AED 150m petrochemical terminal in Jebel Ali Port
UAE – Mubasher: AquaChemie Middle East, a part of the UAE-based AquaChemie Group, has laid the foundation stone for its AED 150 million ($40 million) petrochemical terminal in DP World’s Jebel Ali Port in Dubai. The project of AquaChemie Middle …
Companies Investments
The benchmark index of the DFM rose by around 1.27%
23 November 02:40 PM UAE stock markets maintain upward performance on Monday
UAE - Mubasher: The UAE stock markets have maintained their upward performance by the end of Monday's trading session. The benchmark index of the Dubai Financial Market (DFM) rose by around 1.27% to end Monday's trading session at 2,354.24 points. …
Trading Activities
The ministry has conducted 81,558 additional COVID-19 tests
23 November 01:54 PM UAE registers 1,065 new COVID-19 cases
UAE – Mubasher: The UAE has reported 1,065 new coronavirus (COVID-19) cases to bring the total number of cases to 160,055, the UAE Ministry of Health announced on Monday. The ministry has conducted 81,558 additional COVID-19 tests to detect new …
The discoveries support the UAE's plan for the next 50 years
23 November 01:29 PM UAE oil discoveries boost ADNOC's 5 million bpd capacity target by 2030
UAE - Mubasher: The UAE's new oil discoveries reflect the continued development process carried out by ADNOC to raise the production capacity to 5 million barrels per day (bpd) by 2030, the UAE Minister of Energy and Infrastructure, Suhail bin …
Macroeconomics
This membership will enable Mubadala to support global climate action
23 November 12:24 PM Mubadala joins global initiative to support global climate action
UAE – Mubasher: Abu Dhabi-based Mubadala Investment Company has joined the membership of the One Planet Sovereign Wealth Funds (OPSWF) initiative, the Emirates News Agency (WAM) reported. The OPSWF initiative is an international coalition of the …
Companies Investments
The UAE banks' domestic credit rose by 2.9% YoY
23 November 11:30 AM UAE banks inject AED 19bn loans to support economy in 9M
UAE – Mubasher: The banks operating in the UAE have pumped more than AED 19 billion loans into the national economy during the first nine months of 2020, according to the latest data by the Central Bank of the UAE (CBUAE). The UAE banks' domestic …
Macroeconomics
The price per share registered AED 0.575
23 November 10:00 AM DFM announces AED 51m direct deal on Al Ramz's shares
Dubai – Mubasher: A direct deal was implemented on around 88.99 million shares of Al Ramz Corporation Investment and Development to record a total value of AED 51.2 million. The price per share registered AED 0.575, according to the data released …
Companies Investments
The work will be resumed on 6 December
23 November 09:43 AM DFM discloses holiday for Commemoration Day, National Day
Dubai – Mubasher: The Dubai Financial Market (DFM) will be closed from Tuesday, 1 December, to Thursday, 3 December, to mark the Commemoration Day and UAE's 49th National Day. The work will be resumed on Sunday, 6 December 2020, according to a …
Event
The loans provided to the private sector decreased by 2.5% in September
23 November 09:29 AM UAE banks' loans hit AED 1.8trn in September
UAE – Mubasher: The value of loans granted by UAE banks increased by 5% to AED 1.8 trillion by the end of September 2020, compared to around AED 1.7 trillion in the same month of 2019. The loans provided to the private sector decreased by 2.5% to …
Macroeconomics
The benchmark index of the DFM inched up 0.37%
22 November 02:41 PM UAE stock markets end Sunday on positive note
UAE - Mubasher: The UAE stock markets have closed Sunday's trading session on a positive note, backed by a collective rise of blue chips. The benchmark index of the Dubai Financial Market (DFM) inched up 0.37% or 8.57 points to end Sunday's …
Trading Activities
The UAE confirmed 791 recoveries
22 November 02:23 PM UAE reports 1,205 new COVID-19 cases
UAE – Mubasher: The UAE Ministry of Health announced 1,205 new coronavirus (COVID-19) cases to raise the total number of cases to 158,990. The ministry has conducted 110,952 additional COVID-19 tests to detect new cases. The UAE confirmed 791 …
The emirate's airline bookings rose by 119% QoQ
22 November 01:14 PM Abu Dhabi sees 46% QoQ higher hotel revenues in Q3-20
UAE - Mubasher: The revenues of Abu Dhabi's hotels rose by 46% during the third quarter (Q3) of 2020, when compared to the second quarter (Q2) of 2020, according to the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi). The number of …
Macroeconomics