UAE news

Abu Dhabi – Mubasher: Bank of Sharjah has successfully priced a $500 million senior unsecured bond in the international markets, according to a press release. The issuance received significant response from international investors, attracting …

Abu Dhabi – Mubasher: National Marine Dredging Company (NMDC) has closed the initial public offering (IPO) of NMDC Energy, which was oversubscribed by 31.3 excluding cornerstone. The offering attracted investor interest, generating a total gross …

Abu Dhabi – Mubasher: Invest Bank posted an annual rise in net profit to AED 98.71 million during the first half (H1) of 2024, compared to AED 4.03 million. Net interest income hiked year-on-year (YoY) to AED 92.76 million in H1-24 from AED 45.97 …

Riyadh – Mubasher: Saudi SaaS provider Reachware has raised $3 million in Seed funding, led by Sadu Capital, with participation from 500 Sanabil Investments and Elm Company, according to a press release. Reachware, a leading startup specialising …

Riyadh – Mubasher: AI platform and software as a service (SaaS) provider Unifonic announced a strategic partnership with Saudi fintech company barq during the 24 Fintech event, which launched in Saudi Arabia to serve as a global meeting point. The …

Riyadh – Mubasher: Saudi fintech savings platform Hakbah inked a new agreement with the Saudi Institute of Internal Auditors at the 24 Fintech Conference in Riyadh. The partnership aims to improve the development of internal auditing systems, …

UAE– Mubasher: Etihad Water and Electricity (EtihadWE) has officially inaugurated four new facilities to bolster electricity and water infrastructure across the Northern Emirates, according to a press release. These new installations reflect the …

Riyadh – Mubasher: ACWA Power Company signed an agreement with Sharjah Electricity, Water and Gas Authority (SEWA) to develop Sharjah’s first Independent Water Project (IWP). The Hamriyah IWP, which will be developed using seawater reverse osmosis …

UAE– Mubasher: Tarabut has acquired London-based Vyne, a real-time account-to-account (A2A) payments platform for online businesses, according to a press release. The transaction, which was approved by the Saudi Central Bank (SAMA) and the UK's …

Abu Dhabi – Mubasher: Emirates Steel Arkan has rebranded as EMSTEEL as part of a broader strategy to accelerate its operational transformation and extend its global presence, according to a press release. The new brand identity embodies the merger …

Riyadh – Mubasher: The Deputy Chairman of the Capital Market Authority (CMA), Abdullah Binghannam, elaborated that the financial service has clearly transformed wealth management. On the slides of the 24 Fintech conference, Binghannam noted that …

UAE– Mubasher: MAJID Developments entered Dubai’s real estate market with the launch of Mayfair Gardens, a residential community building in the Emeriti City, according to a press release. In line with its planned pipeline of five luxury projects …

UAE– Mubasher: Ziina, the UAE’s leading financial platform supporting consumers and businesses, has raised $22 million in a Series A funding round led by US-based Altos Ventures, according to a press release. The fundraising transaction also …

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company announced a new brand identity in line with its vision to anchor its position in the maritime industry, according to a press release. The company’s vision, which focuses on …

Riyadh – Mubasher: Mohammed El Kuwaiz, Chairman of the Capital Market Authority (CMA), highlighted that the 24 Fintech conference reflects Saudi Arabia’s leading position in the fintech landscape. The 24 Fintech event kicked off at the Riyadh …

Riyadh – Mubasher: Saudi fintech savings platform Hakbah entered into a new partnership with The Company for Cooperative Insurance (Tawuniya) at the 24 Fintech Conference that kicked off in Riyadh on 3 September. This alliance will reshape the …

Riyadh – Mubasher: The Saudi Central Bank (SAMA) penned an agreement with Samsung to provide access to Samsung Pay service in the Kingdom during the fourth quarter (Q4) of 2024. The announcement was unveiled on the sidelines of the 24 Fintech …

Riyadh – Mubasher: MENA-focused shopping and financial services app Tabby has entered into a definitive agreement to acquire Saudi-based digital wallet Tweeq, which is licensed by the Saudi Central Bank (SAMA). The announcement came during the 24 …

Riyadh – Mubasher: Alan Qi, President of Huawei Cloud Middle East and Central Asia, announced investment plans in Saudi Arabia to back the cloud-first strategy. In an interview with Mubasher.info, Qi highlighted that Huawei decided to invest in …

Abu Dhabi – Mubasher: The shareholders of Borouge approved an interim cash dividend of $650 million for the first half (H1) of 2024, according to a press release. The company will disburse 7.94 fils per share, representing an annualised dividend …

Mubasher: Abu Dhabi-based Gulf Capital has sold its stake in Egypt-listed Middle East Glass (MEG) to the majority shareholder of the business, MENA Glass Holdings Limited, according to a press release. Gulf Capital’s investment enabled Middle East …

Riyadh – Mubasher: flynas launched three new destinations and five routes between Saudi Arabia and the UAE, becoming the largest air carrier connecting the two countries, according to a press release. flynas is also the only Saudi carrier serving …

Riyadh – Mubasher: Najm for Insurance Services is partaking in the 24 Fintech global conference as a Platinum Sponsor, which enhances its role in supporting and developing the local and global insurance and financial services sector. The fintech …