UAE news

14 minutes ago UK house price growth picks up in August

Mubasher: House prices in the UK rose at the slowest pace almost seven years, during the 12-month period ended last August.

Global Markets brief

Trading volume amounted to 317.47 million shares

21 minutes ago DFM ends Wednesday in green

Dubai – Mubasher: The Dubai Financial Market (DFM) closed Wednesday’s trading session on a positive note. The DFM’s index inched up 1.83 points, or 0.06%, to 2,825.69 points. Trading volume amounted to 317.47 million shares that were exchanged …

Trading Activities

The two-day event will also focus on four of the capital’s most ambitious projects

26 minutes ago Saudi Arabia to host Sustainable City Symposium in November

Riyadh – Mubasher: Saudi Arabia will host the Sustainable City Symposium during the period between 12 and 13 November in Riyadh. The event will be organised by the Royal Commission for Riyadh City (RCRC), formally known as Riyadh Development …

Event

31 minutes ago Huawei’s revenue climbs 24.4% in Q3

Mubasher: Huawei on Tuesday reported that its revenue jumped by 24.4% year-on-year in the third quarter of this year.

Global Markets brief

Mubadala will remain the majority shareholder in Cepsa with a shareholding of 63%

57 minutes ago Mubadala sells 37% stake in Spain’s Cepsa

UAE – Mubasher: Mubadala Investment Company, the Abu Dhabi-based sovereign investor, announced that it has sold a 37% stake in the Spanish oil and gas company Compañía Española de Petróleos (Cepsa) to funds affiliated to The Carlyle Group, a …

Mergers and Acquisitions

1 hour ago Gold edges up on Brexit uncertainty; risk-on appetite caps gains

Mubasher: Gold traded higher on Wednesday owing to uncertainty surrounding Brexit negotiations, but a risk-taking sentiment limited gains.

Global Reports

Total grain production dropped to 17.9 million tonnes

1 hour ago Egypt’s wheat output hits 8.6m tonnes in FY17/18 – CAPMAS

Cairo – Mubasher: Wheat production in Egypt rose by 1.6% year-on-year during fiscal year 2017/2018, the Middle East News Agency (MENA) reported on Wednesday. The North African nation’s wheat output increased to 8.6 million tonnes in FY17/18, …

Macroeconomics

2 hours ago Updated Oil rises on Brexit optimism; weak growth outlook drags

Mubasher: Oil prices declined on Wednesday, dragged down by weaker fuel demand outlook amid lingering worries over a global economic slowdown.

Oil and Energy

AI Lab aims at developing innovative digital solutions using AI and machine learning

2 hours ago Abu Dhabi Digital Authority launches AI Lab to boost gov’t efficiency

UAE - Mubasher: Abu Dhabi Digital Authority (ADDA) announced the launch of its latest initiative ‘Artificial Intelligence Lab’. The AI Lab aims at developing innovative digital solutions using AI and machine learning to boost services efficiency …

Macroeconomics

2 hours ago Eurozone trade surplus grows in August

Mubasher: Preliminary estimates suggested that the Eurozone ran a trade balance surplus of EUR 14.7 billion in August.

Global Reports

Expo 2020 Dubai is expected to welcome more than 25 million visitors

2 hours ago UK tops European destinations for GCC nationals by 2023

Mubasher: The UK is expected to be one of the top European destinations for GCC nationals to visit with a total of 890,000 trips by 2023, according to recent data by Colliers International. World Travel Market London 2019 (WTM London 2019), which …

Macroeconomics

The signed agreements will cover a number of central sectors to the Russian economy

3 hours ago Russia’s RIDF, Mubadala ink 6 collaboration agreements

UAE - Mubasher: The Russian Direct Investment Fund (RDIF) and the UAE’s sovereign investor Mubadala Investment Company on Wednesday announced they have signed six collaboration agreements as part of their successful long-term investment …

Corporate Actions

3 hours ago Eurozone annual inflation decelerates in September

Mubasher: Final estimates showed that the Eurozone annual inflation grew at 0.8% in September, down from 1% in August.

Global Markets brief

3 hours ago UK output prices growth loses more pace in September

Mubasher: Producer price index for the goods leaving UK factories rose at a slower rate of 1.2% in the year ended September.

Global Reports

3 hours ago Updated UK consumer inflation remains at slowest pace since 2016

Mubasher: The UK’s consumer price index, the headline gauge for the country’s inflation, remained unchanged month-on-month at 1.7% year-on-year in September.

Global Markets brief

Dubai is one of the largest centres in the world for sukuk listings

3 hours ago DIFC posts 45% solid growth in Islamic assets in 12M

UAE - Mubasher: Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa, and South Asia (MEASA) region, announced that it has recorded solid growth of 45% in Islamic assets during the period …

Macroeconomics

4 hours ago European equities slip as investors await outcome of Brexit talks

Mubasher: European stocks traded lower earlier in Wednesday as investors were awaiting a possible Brexit deal between the UK and the European Union.

Global Reports

All heads of departments in the exchange shall implement this resolution in all their respective fields

4 hours ago ADX to suspend trading in Abu Dhabi Aviation’s shares temporarily

Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) announced that trading in Abu Dhabi Aviation Co’s shares will be suspended on Monday, 28 October 2019 until it receives the results of the company’s board meeting to be held on the same …

Global oil prices slid by 1.5% on Tuesday

4 hours ago Kuwaiti oil declines 53 cents on Tuesday – KPC

Mubasher: The price of Kuwait’s crude oil fell by 53 cents to settle at $60.61 per barrel (pb) on Tuesday when compared to $61.14 pb a day earlier, according to the official prices of Kuwait Petroleum Corporation (KPC). Globally, oil prices …

Macroeconomics

Business Park Phase 2 is set to be delivered on schedule in February 2020

4 hours ago Union Properties' Business Park Phase 2 on track for scheduled delivery

Dubai – Mubasher: Union Properties, a leading property developer in the UAE, announced that it has completes 30% of the second phase of Dubai Autodrome Business Park. Business Park Phase 2 is set to be delivered on schedule in February 2020, …

Corporate Actions

4 hours ago DIB’s stock rises on 9M financial results early Wednesday

Dubai – Mubasher: Dubai Islamic Bank’s stock (DIB), listed on the Dubai Financial Market (DFM), has moved upwardly backed by its robust financial results for the period ended 30 September 2019. By 11:00 am UAE time, the stock rose by 0.38% to AED …

Trading Activities

09:39 AM Aldar’s unit raises $500m in sukuk placement

Abu Dhabi - Mubasher: Aldar Investment Properties, a wholly-owned subsidiary of Aldar Properties, announced it has raised a nominal amount of $500 million by placing a fixed rate US dollar-denominated sukuk with a tenor of 10 years. The …

Sukuk and Islamic Finance

The bank has recorded a net profit of AED 4.015 billion in 9M

09:10 AM DIB logs AED 4bn net profit in 9M

Dubai – Mubasher: Dubai Islamic Bank (DIB), listed on the Dubai Financial Market (DFM), has posted its financial results for the first nine months of 2019. The bank has recorded a net profit of AED 4.015 billion during the nine-month period ended …

Financial Results