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Dubai was also listed among the world's fastest 5G cities
29 July 04:37 PM Abu Dhabi ranks among world's three fastest 5G capitals
UAE - Mubasher: Abu Dhabi has ranked among the world's three fastest 5G capitals in the 5G network index, with the fastest median download speeds of 421.26 Mbps in the first half (H1) of 2021, according to the latest data from Ookla, a fixed …
The bank's net operating income amounted to AED 261.978 million
29 July 03:41 PM CBI sees higher profits in H1-21
Abu Dhabi – Mubasher: Commercial Bank International (CBI) has achieved net profits attributable to the owners of AED 68.232 million during the first half (H1) of 2021, against AED 15.793 million in the year-ago period, according to the …
The market cap of the shares owned by Arzan VC 2 has reached $11.226 million
29 July 03:24 PM Kuwait's Arzan VC 2 invests $1.076m in Swvl's shares
Mubasher: Arzan Capital Holding Limited announced that Arzan VC 2 has invested $1.076 million in the shares of the ridesharing app Swvl, which has entered into a definitive agreement for a business combination with Queen's Gambit Growth Capital.  …
The benchmark index of the DFM went up 0.5%
29 July 02:55 PM UAE stock markets end Thursday in green zone
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 0.5% to close Thursday's trading session at 2,765.71 points. A total of 126.46 million …
Agility will be subscribing for $20 million for two million shares
29 July 02:42 PM Agility to invest in Swvl, Queen's Gambit combined public company
Mubasher: Agility Public Warehousing will invest in the newly formed business combination between Dubai-based Swvl and Nasdaq-listed Queen's Gambit Growth Capital, the first special purpose acquisition company led by women. Agility will be …
Special 95 will cost AED 2.47 per litre
29 July 02:16 PM UAE raises fuel prices for August
UAE – Mubasher: The UAE fuel price committee decided to increase the petrol and diesel prices for August, including a 5% value-added tax. The price of Super 98 will stand at AED 2.58 per litre as of 1 August, compared to AED 2.47 in the previous …
The company generated revenues of AED 26.435 billion
29 July 02:09 PM Etisalat records 4% higher profits in H1-21; dividends proposed
Abu Dhabi – Mubasher: The net profits attributable to the owners of Emirates Telecommunications Group (Etisalat) increased by 3.9% to AED 4.745 billion during the first half (H1) of 2021, compared to AED 4.566 billion in the year-ago period, …
The transaction involved the purchase of 20.83 million shares
29 July 12:31 PM Equinox Pharma ups stake in Rameda for EGP 58.5m
Cairo - Mubasher: Equinox Pharma Holding Limited raised its stake in Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) to 15.39% from 12.68%. The transaction involved the purchase of 20.83 million shares for …
The Ministry focuses on developing the maritime industry
29 July 11:47 AM UAE maritime leaders assemble to prepare UAE candidacy for IMO
UAE - Mubasher: The maritime leaders in the UAE from the government and private sectors have met to discuss and prepare the UAE candidacy file for the International Maritime Organization (IMO). The in-person event was organised by the Maritime …
The Base Rate reflects the general stance of the CBUAE’s monetary policy
29 July 10:59 AM CBUAE maintains base rate to ODF at 15 basis points
UAE - Mubasher: The Central Bank of the UAE (CBUAE) has maintained the Base Rate applicable to the Overnight Deposit Facility (ODF) at 15 basis points, effective from Thursday, 29 July 2021. This decision was made after the US Federal Reserve …
The bank's operating income declined to AED 2.815 billion
29 July 10:23 AM ADIB sees higher profits in H1-21
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) reported a surge in the net profits attributable to the equity holders to AED 1.108 billion during the first half (H1) of 2021, compared to AED 587.087 million in the year-ago period, as shown by …
Swvl will be the first $1.5 billion unicorn in the Middle East to list on Nasdaq
29 July 09:56 AM Dubai's Swvl to list on Nasdaq via merger deal with Queen's Gambit
UAE - Mubasher: Swvl, a Dubai-based transport technology startup, and Nasdaq-listed Queen's Gambit Growth Capital have entered into a definitive agreement for a business combination, which will result in Swvl being listed on Nasdaq. Following …
The bank's net interest income increased to AED 243.048 million
28 July 04:07 PM Bank of Sharjah swings to losses in H1-21
Abu Dhabi – Mubasher: Bank of Sharjah has incurred net losses attributable to the equity holders of AED 466.635 million during the first half (H1) of 2021, against net profits of AED 18.658 million in the same period of 2020, as shown by the …
28 July 04:03 PM Pfizer’s sales of COVID-19 shots hit $7.8bn in Q2-21
The private transaction is scheduled to close on 2 August 2021
28 July 03:45 PM Abu Dhabi's Mubadala invests $250m in Nasdaq-listed biosimulation company
UAE - Mubasher: Abu Dhabi-based Mubadala Investment Company has invested around $250 million in Nasdaq-listed Certara, specialised in biosimulation. The investment is in line with Mubadala’s strategy to deploy innovation in tackling unmet clinical …
This move is in line with the directives of Sheikh Mohammed bin Rashid
28 July 03:19 PM UAE grants doctors 10-year golden visa
UAE - Mubasher: The UAE government has granted doctors and their families the 10-year residency golden visa to recognise their efforts and scientific competencies, the Emirates News Agency (WAM) reported. This move is in line with the directives …
The bank's operating income recorded AED 1.572 billion
28 July 02:22 PM CBD's net profits up 27.5% in H1-21
Dubai – Mubasher: The Commercial Bank of Dubai (CBD) reported a 27.5% rise in net profits to AED 676.055 million during the first half (H1) of 2021, compared to AED 530.431 million in the year-ago period, as shown by the bank's consolidated …
The summit will also feature an accelerators unit
28 July 01:40 PM Dubai Chamber for Digital Economy to host Expand Summit to support startups
UAE - Mubasher: Dubai Chamber for Digital Economy, one of the three chambers under the newly formed Dubai Chambers, will convene two-day Expand Summit, the region's first of its kind summit, in January 2022 to attract Venture Capitalists (VCs) …
Jebel Ali handled 3.4 million TEU in Q2-21
28 July 01:01 PM DP World records 17% higher gross container volumes in Q2-21
UAE - Mubasher: DP World Limited handled 19.7 million TEU (twenty-foot equivalent units) across its global portfolio during the second quarter (Q2) of 2021, up 17.6% year-on-year (YoY) on a reported basis and 17.1% on a like-for-like basis. The …
The bank's assets recorded AED 68.041 billion as of 30 June
28 July 12:23 PM Emirates Islamic Bank's net profits surge in H1-21
Dubai – Mubasher: The net profits of Emirates Islamic Bank jumped to AED 568.714 million during the first half (H1) of 2021, compared to AED 11.846 million in the same period of 2020, as shown by the bank's consolidated interim financials for the …
The transaction was fully subscribed by 12 banks
28 July 11:47 AM Ajman Bank, CBD conclude Pakistan's $350m Murabaha syndicated financing
Dubai – Mubasher: Ajman Bank and Commercial Bank of Dubai (CBD) have concluded Pakistan's $350 million Murabaha syndicated financing. Both banks acted as initial mandated lead arrangers and bookrunners on the facility for Pakistan acting through …
The bank's net income amounted to AED 4.628 billion in H1-21
28 July 10:58 AM DIB's net profits down in H1-21
Dubai – Mubasher: The net profits attributable to the owners of Dubai Islamic Bank (DIB) declined to AED 1.853 billion during the first half (H1) of 2021, compared to AED 2.12 billion in the corresponding period of 2020, according to the bank's …
The bank reported a 2% increase in operating income
28 July 10:29 AM FAB sees 11% higher profits in H1-21
UAE - Mubasher: The net profits attributable to the shareholders of First Abu Dhabi Bank (FAB) increased to AED 5.353 billion during the first half (H1) of 2021, up 11% from AED 4.819 billion in the same half of 2020, according to the bank's …
Higher profits are driven by stable margins, effective cost management
28 July 09:48 AM Emirates NBD reports higher profits in H1-21
Dubai – Mubasher: The net profits attributable to the equity holders of Emirates NBD increased to AED 4.78 billion during the first half (H1) of 2021 from AED 4.087 billion in the year-ago period, as shown by the bank's consolidated interim …
27 July 03:29 PM Arabica coffee prices hit highest level in seven years