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29 March 06:01 AM

UAE news

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28 March 09:14 PM Egypt reports 40 COVID-19 cases
Cairo – Mubasher: The Egyptian Ministry of Health and Population has reported an increase in the number of coronavirus (COVID-19) cases whose test results turned from positive to negative to a total of 161. The ministry’s spokesperson revealed the …
Global Economy
The UAE Ministry of Health and Population
28 March 07:06 PM UAE announces 63 new COVID-19 cases
UAE – Mubasher: The UAE Ministry of Health and Population (MoHAP) has reported 63 new cases of the new coronavirus (COVID-19). This brings the total number of cases in the UAE to 468 cases, according to the ministry’s statement on Saturday. Two …
Global Economy
Abu Dhabi Securities Exchange (ADX)
28 March 05:27 PM BH Mubasher obtains margin-trading license from ADX
Mubasher: The Abu Dhabi Securities Exchange (ADX) has granted BH Mubasher Financial Services a license for short-term margin trading. The company becomes the first financial services provider to offer this service to its clients in the UAE, …
Management Decisions
Central Bank of the UAE
28 March 03:04 PM CBUAE clarifies working remotely to banks
Mubasher: The Central Bank of the UAE (CBUAE) and the UAE Banks Federation (UBF) have prioritised working remotely for the majority of the banking sector’s workforce, according to the Emirates News Agency (WAM). Only 30% of those working in …
Central Banks
Photo Archive
28 March 11:41 AM Egypt sets travellers quarantine period at 28 days
Mubasher: The Egyptian Ministry of Health has decided to set the isolation period for returning passengers and their families and those who were in close contact with them at 28 days, instead of 14 days. The move comes as part of efforts to combat …
Global Economy
Ministry of Health and Prevention (MoHAP) - UAE
27 March 11:14 PM UAE reports 72 COVID-19 cases
Mubasher: The UAE has announced 72 new cases infected with the novel coronavirus (COVID-19), bringing the total number of confirmed cases to 405. With three new recoveries announced on Friday, the total number of recoveries reached 55, according …
Global Economy
The health ministry announced 92 new cases on Friday
27 March 11:03 PM Saudi Arabia coronavirus cases reach 1,104
Riyadh – Mubasher: Saudi Arabia reported 92 new cases with the novel coronavirus (COVID-19), of which 10 are travel-related and health-isolated cases, while 82 were in contact with previously reported cases. The number of confirmed cases in the …
Global Economy
Photo Archive
27 March 10:33 PM Egypt announces 41 new coronavirus cases
Cairo – Mubasher: The Egyptian Ministry of Health and Population reported 41 new coronavirus (COVID-19) cases and six deaths. The new cases include 40 Egyptians, who were in contact with previously reported cases, and an American. In addition, 14 …
Global Economy
Market capitalization increased by AED 9.74 billion
27 March 09:15 PM ADX market cap rises AED 9.7bn in week
UAE – Mubasher: The Abu Dhabi Securities Exchange (ADX) recorded a positive performance last week as the general index ADI increased by 2.61% or 95.86 points and closed at 3,770.73 points. Market capitalization increased by AED 9.74 billion to …
Trading Activities
The general index closed the week at 1,809 points
27 March 07:00 PM DFM registers 2.3% weekly gains
Dubai – Mubasher: The Dubai Financial Market (DFM) recorded gains this week, despite the coronavirus (COVID-19) affecting the market. The general index increased by 2.28% or 40.3 points after closing Thursday at the level of 1,809.12 points. …
Trading Activities
President of Egypt, Abdel Fattah El-Sisi
27 March 06:07 PM Egypt calls for African debt relief by G20 countries
Cairo – Mubasher: President of Egypt, Abdel Fattah El-Sisi, has presented an initiative to the G20 group to consider easing debt burdens on African countries, in light of the impacts of the coronavirus (COVID-19) crisis on the continent’s …
Banking and Finance
Photo Archive
27 March 04:19 PM Kuwait's coronavirus cases reach 225
Mubasher: Kuwait on Friday reported 17 new coronavirus (COVID-19) cases during the past 24 hours, according to the Kuwaiti Ministry of Health. This brings the total number of cases in Kuwait to 225, Kuwait News Agency (KUNA) reported citing a …
Global Economy
Kuwaiti crude settled at $27.81 per barrel (pb) on Thursday
27 March 03:27 PM Kuwait oil down to $27.8 pb
Mubasher: The price of Kuwait oil decreased by $1.13 on Thursday, Kuwait News Agency (KUNA) reported. Kuwaiti crude settled at $27.81 per barrel (pb) yesterday, compared with its level on Wednesday’s close at $28.94, according to the Kuwait …
Commodities
The main index decreased by 3.87%
26 March 03:04 PM ADX loses 3.9% on Thursday
Abu Dhabi – Mubasher: Abu Dhabi Securities Exchange (ADX) closed Thursday's trading session on a red territory, reversing its negative performance on Wednesday, 25 March. The main index decreased by 3.87% or 150.66 points to 3770.73 points. The …
Trading Activities
The banks sector topped the decliners with 1.67%
26 March 02:45 PM DFM down 0.8% on Thursday's close
Dubai – Mubasher: The benchmark index of Dubai Financial Market (DFM) went down by 0.76% or 13.89 points to close Thursday's trading session at 1,809.12 points, unlike its upward performance on Wednesday, 25 March. The market cap value registered …
Trading Activities
EGA recorded AED 2.5 billion adjusted EBITDA in 2019
26 March 02:19 PM EGA revenues at AED 20.5bn in 2019
UAE – Mubasher: The adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) of Emirates Global Aluminium (EGA) plunged by 43% in 2019. The world’s third-largest premium aluminium producer in the world outside …
Financial Results
A total of 49 cases have now recovered in Kuwait
26 March 02:19 PM Kuwait reports 13 coronavirus cases; total at 208
Mubasher: Kuwait has reported 13 new coronavirus (COVID-19) cases during the past 24 hours, the Ministry of Health announced on Thursday. Six cases are Kuwaiti citizens who recently arrived from Saudi Arabia, Egypt, and France, while one case is …
Global Economy
The company's profits reached $131.1 million in 2019
26 March 01:37 PM Orascom Construction sees 15.2% lower consolidated profits; dividends proposed
Mubasher: The consolidated financial results for 2019 of Orascom Construction PLC, listed on Nasdaq Dubai and the Egyptian Exchange (EGX), reported a 15.2% year-on-year (YoY) drop in net profits. The company's net profits reached $131.1 million in …
Board of Directors
The distribution of cash dividends will be at 4 fils per share
26 March 12:46 PM Insurance House shareholders approve 4% dividends
Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of Insurance House (IH) has approved to pay out 4% cash dividends for 2019. The distribution of cash dividends will be at 4 fils per share, aggregating at a total amount of AED 4.75 million, …
Cash Dividends
The company plans to issue AED 125 million Sukuk
26 March 11:27 AM GNH sees AED 445m accumulated losses
Dubai – Mubasher: Gulf Navigation Holding (GNH) Group said its accumulated losses reached AED 445.195 million in 2019, representing 44% of the company's capital. The accumulated losses are caused by a decline in the group's chemical tankers fleet …
Financial Results
The company's contribution to UAE economy amounted to AED 36.9 billion since 2005
26 March 10:25 AM ADNEC contributes AED 4.9bn to UAE economy in 2019
Abu Dhabi – Mubasher: The Abu Dhabi National Exhibition Centre (ADNEC) company has contributed AED 4.9 billion to the UAE economy during 2019, up by 46% when compared to 2018, according to the Emirates News Agency (WAM). Therefore, the company's …
Event
The company's board approved to buy back no more than 10% of shares
26 March 09:55 AM Salama board proposes 3 fils/shr dividends for first time
Dubai – Mubasher: The board of Islamic Arab Insurance Company (Salama) has recommended distributing 3 fils per share cash dividends for 2019 for the first time since the company's IPO. During a meeting held on Wednesday, 25 March, the board has …
Cash Dividends
Seven cases have recovered from the novel disease in the UAE
25 March 05:03 PM UAE announces 85 new COVID-19 cases
UAE - Mubasher: The UAE has reported 85 new coronavirus (COVID-19) cases, including seven Emiratis, raising the total number of cases to 333, The Emirati Ministry of Health and Population (MoHAP) announced in a press conference on Wednesday. …
Global Economy
The new cases include 18 individuals who returned from abroad
25 March 04:56 PM Saudi Arabia announces 133 new COVID-19 cases
Mubasher: The Saudi health ministry on Wednesday confirmed 133 new infections with the coronavirus (COVID-19), state-run Saudi Press Agency (SPA) reported.  The new cases include 18 individuals who returned from abroad and 115 that had been in …
Global Economy
DFM's OGM has agreed on paying out AED 200m dividends for 2019
25 March 04:50 PM DFM's shareholders resolve 2.5% dividends for 2019
Dubai – Mubasher: The ordinary general meeting (OGM) of the Dubai Financial Market (DFM) company has agreed on paying out AED 200 million cash dividends for 2019, equivalent to 2.5% of the company's paid-up capital. The shareholders also approved …
Cash Dividends