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18 January 02:10 AM

UAE news

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17 January 02:55 PM UAE stock markets close Monday's session in red zone
UAE - Mubasher: The UAE stock markets have ended Monday's trading session in the red zone. The benchmark index of the Dubai Financial Market (DFM) went down 0.70% to settle at 3,179.35 points by the end of Monday's trading session. Turnover …
Trading Activities
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17 January 01:12 PM Tabreed’s unit acquires AED 65m district cooling plants in Oman
Dubai - Mubasher: Tabreed Oman, a 60.54%-owned subsidiary of National Central Cooling Company (Tabreed), has signed an agreement with Al Mouj Muscat (Al Mouj) to acquire the district cooling plants and related assets in Muscat Oman at a value of …
Companies Investments
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17 January 12:16 PM Mubadala seeks to exit Rota das Bandeiras highway in Brazil
UAE - Mubasher: Mubadala Investment Company (Mubadala) seeks to sell Rota das Bandeiras highway in Sao Paulo in Brazil, according to Reuters citing O Globo columnist Lauro Jardim. Mubadala has hired the investment bank Banco BTG Pactual SA as an …
Companies Investments
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17 January 11:13 AM Orascom Construction adds $785m awards to backlog in Q4-21
Mubasher: Orascom Construction Plc, listed on the Egyptian Exchange (EGX) and Nasdaq Dubai, has added new contracts worth $785 million to its backlog in the fourth quarter (Q4) of 2021. This step has raised the total number of new awards by 22% …
Companies Investments
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17 January 10:17 AM TAQA, EWEC price first green bonds for UAE solar plant
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) and Emirates Water and Electricity Company (EWEC) have announced the pricing of green senior secured bonds for an aggregate principal amount of $700.8 million (AED 2.6 billion). The …
Companies Investments
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17 January 09:49 AM GFH to spin out infrastructure, real estate assets under Infracorp
Mubasher: GFH Financial Group will spin out its infrastructure and real estate assets under the recently-launched company Infracorp to boost the growth of sustainable and environmental infrastructure assets across the Gulf and global markets. The …
Companies Investments
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16 January 02:06 PM Mohammed bin Rashid Solar Park sees production raise in fifth phase's first project
UAE - Mubasher: The Dubai Electricity and Water Authority (DEWA) has raised the production capacity of the first project of the Mohammed bin Rashid Al Maktoum Solar Park's fifth phase to 330 megawatts (MW)  from 300MW, the Dubai media office …
Sector Reports
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16 January 12:44 PM Moro Hub partners with BriefCam to develop Integrated Physical Security Platform
UAE - Mubasher: Moro Hub, a subsidiary of Digital DEWA, has partnered with BriefCam to develop its Integrated Physical Security Platform (IPSP) for government entities and enterprises in the region. Under the new partnership, BriefCam will …
Companies Investments
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13 January 03:09 PM DEWA-SAT 1 nanosatellite to be launched on Thursday
UAE - Mubasher: The Dubai Electricity and Water Authority (DEWA) will launch its nanosatellite DEWA-SAT 1 on Thursday, 13 January 2022, at 7:25 p.m. (UAE Time). The satellite will be launched by SpaceX Falcon 9 rocket from Cape Canaveral Space …
Macroeconomics
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13 January 02:39 PM UAE stock markets close Thursday's session on positive note
UAE - Mubasher: The UAE stock markets have ended Thursday's trading session in the green zone. The benchmark index of the Dubai Financial Market (DFM) went up 0.20% to close Thursday's session at 3,214.60 points. Turnover amounted to AED 226.747 …
Trading Activities
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13 January 02:12 PM IHC's unit launches additive manufacturing business unit
Abu Dhabi – Mubasher: Al Seer Marine, a subsidiary of International Holdings Company (IHC), has launched its additive manufacturing business unit for 3D printing. With computer-aided design (CAD) software or 3D object scanners, the technology …
Companies Investments
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13 January 01:40 PM Forbes Middle East’s most-funded startups secure $3bn in funding
Mubasher: The 50-most funded startups in MENA have raised a total of around $3 billion in funding, with the top 10 startups securing $1.9 billion combined, as shown by the annual list of Forbes Middle East. Forbes Middle East's list has …
Macroeconomics
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13 January 12:50 PM ADIB raises AED 587m through new global Sukuk fund
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has secured more than AED 587 million ($160 million) through its recently launched fund, the ADIB Global Sukuk Fund. Launched in October 2021, the fund enables investors to invest in a …
Banking and Finance
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13 January 12:33 PM NMDC wins AED 79m project at Egypt's Safaga Port
Mubasher: The National Marine Dredging Co (NMDC) has been awarded the dredging works project at the entrance to the navigation channel and the trench of the quay wall in Safaga Port in Egypt in exchange for around AED 79 million. The project is …
Companies Investments
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13 January 12:20 PM IHC's unit agrees to Ras Al Khaimah Cement Investment's deal
Abu Dhabi – Mubasher: APEX Holding, a subsidiary of International Holdings Company (IHC), has approved the agreement under which Ras Al Khaimah Cement Investment (RAKCIC) will acquire the entire shares of IHC and Chimera Investments in APEX. …
Companies Investments
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13 January 11:32 AM GCC banks' asset quality expected to see slight decline in 2022
Mubasher: GCC banks' asset quality indicators are expected to record a slight decline in 2022 because of regulatory forbearance measures that have enabled the corporate sector to tackle the coronavirus (COVID-19) repercussions, S&P Global Ratings …
Banking and Finance
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13 January 10:29 AM UAE hosts Finance, Investment Committee of Saudi-Emirati Coordination Council’s meeting
UAE - Mubasher: The UAE has hosted the meeting of the Finance and Investment Committee of the Saudi-Emirati Coordination Council to highlight topics related to financial and economic cooperation between the UAE and Saudi Arabia. Held at the …
Macroeconomics
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13 January 10:05 AM Aldar increases ESG ratings in 2 global benchmarks
Abu Dhabi – Mubasher: Aldar Properties has recorded a surge in its environmental, social, and governance (ESG) ratings in two global benchmarks, the Dow Jones Sustainability Index (DJSI) and Sustainalytics. The company saw 58 points on the Dow …
Companies Investments
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13 January 10:02 AM Almarai completes Bakemart’s acquisition in UAE, Bahrain
Mubasher: Almarai Company has completed the acquisition of Bakemart UAE and Bakemart Bahrain in exchange for AED 93.5 million. The company has concluded the sale and purchase agreement to acquire all shares in Bakemart UAE and Bakemart Bahrain, …
Mergers and Acquisitions
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12 January 02:45 PM UAE stock markets close Wednesday higher
UAE – Mubasher: The benchmark index of Dubai Financial Market (DFM) closed Wednesday higher by 0.33 points (0.01%) at 3,208.14 points. The turnover amounted to AED 252.35 million through the trading of 141.85 million shares, compared to AED 406.23 …
Trading Activities
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12 January 10:58 AM Dana Gas sees 50% higher gas production in KRI over past 3 years
Abu Dhabi – Mubasher: Dana Gas and its partner Crescent Petroleum have registered a rise in sales gas production from operations in the Kurdistan Region of Iraq (KRI) to 452 million cubic feet of gas per day (MMscf/d) at the end of 2021. Following …
Companies Investments
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12 January 10:27 AM Arab Ministers launch 1st digital platform for mining sector
Mubasher: Arab Ministers have witnessed the launch of the first digital platform for demands and offers of Arab industrial and mining products “APIP.Online”. The digital platform aims to enhance intra-Arab trade of industrial and mining products …
Event
11 January 03:13 PM DFM, ADX decline on Tuesday
UAE – Mubasher: The main index of Dubai Financial Market (DFM) closed Tuesday’s session lower by 21.76 points (0.67%) at 3,207.81 points. The trading value reached AED 406.23 million through the exchange of 338.41 million shares, compared to AED …
Trading Activities
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11 January 01:42 PM Future Minerals Forum begins in Riyadh to shape future of mining sector
Riyadh – Mubasher: Saudi Arabia’s capital, Riyadh, is hosting the first-ever Future Minerals Forum for three days starting today, 11 January. The event is held under the patronage of the Custodian of The Two Holy Mosques, King Salman bin Abdulaziz …
Global Economy
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11 January 11:11 AM ADFD to invest AED 385m in five tourist resorts in Thailand
UAE - Mubasher: The Abu Dhabi Fund for Development (ADFD) has signed a $104.8 million (AED 385 million) agreement with Minor International Public Company Limited (MINT) to own a stake in five tourist resort assets in Thailand. The ADFD will …
Companies Investments