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11 July 03:42 PM Ajman Transport, Visa to implement contactless payment on buses
UAE – Mubasher: The Transportation Authority in Ajman and Visa inked an agreement to enable the acceptance of open contactless payments on public transport buses in Ajman. The partnership comes in line with the emirate's smart mobility goals, …
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11 July 03:31 PM GCC, UK in talks to sign free trade deal by 2024-end
Mubasher: The Gulf Cooperation Council (GCC) is negotiating a free trade agreement (FTA) with the UK that could be signed by the end of 2024. The bloc’s Secretary-General Jasem Albudaiwi held a meeting with UK Trade Minister Jonathan Reynolds in …
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11 July 02:53 PM UAE stock markets close Thursday in green
UAE – Mubasher: The main index of Dubai Financial Market (DFM) ended Thursday’s trading session higher by 10.76 points (0.26%) at 4,090.98 points. A total of 112.57 million shares were exchanged during the session at a value of AED 227.02 million. …
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11 July 02:16 PM Emaar Properties achieves outstanding performance in H1-24
Dubai – Mubasher: Emaar Properties delivered resilient performance and operational efficiency across its various businesses during the first quarter (Q1) of 2024, according to a press release. Emaar Development saw a remarkable 30% growth in sales …
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11 July 01:55 PM RWE, Masdar team up for offshore wind project
UAE – Mubasher: Abu Dhabi Future Energy Company (Masdar)and  RWE joined forces to develop the Dogger Bank South (DBS) Offshore Wind Farms, according to Emirates News Agency (WAM). The Development Consent Order (DCO) application has been accepted …
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11 July 11:55 AM Air Arabia bolsters European network via new flights to Vienna
Dubai – Mubasher: Air Arabia has launched its newest route connecting Sharjah and Vienna, the capital of Austria, according to a press release. Set to operate on 20 December 2024, the new service will run with a frequency of four non-stop weekly …
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11 July 11:07 AM AMEA Power plans 2,500 MW projects in Egypt
  Cairo – Mubasher: UAE's AMEA Power is planning to launch new renewable energy projects in Egypt with capacities of up to 2,500 megawatts (MW), including solar and wind power projects, said Chairman Hussain Al Nowais. Al Nowais held a meeting in …
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11 July 10:25 AM DUBAL Holding buys stake in BiOD Technology
UAE – Mubasher: DUBAL Holding has acquired an equity stake in BiOD Technology FZCO, marking a strategic push into green investments. The deal underscores DUBAL Holding's commitment to sustainable wealth funds and Dubai's vision of a greener …
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11 July 10:10 AM Stride Ventures makes 1st GCC investment of $1m in Maalexi
Riyadh – Mubasher: Stride Ventures, a global venture debt firm from India, marked a key milestone in its international strategy by announcing its first $1 million venture debt investment in Maalexi as part of a broader GCC commitment. The funding …
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11 July 09:55 AM Nasdaq Dubai unveils $2.3bn new Sukuk issuances by Indonesia
UAE – Mubasher: Nasdaq Dubai welcomed three Sukuk issued by Indonesia at a combined value of $2.35 billion, under its $35 billion Trust Certificate Issuance Programme. The new listings reinforce Dubai's position as the world's leading centre for …
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10 July 05:58 PM Ras Al Khaimah raises equity ownership in RAK Properties to 34%
Abu Dhabi – Mubasher: The Emirates of Ras Al Khaimah has increased its stake in RAK Properties to reach 34.16% following the Securities and Commodities Authority’s (SCA) approval. This equity raise comes upon the March annual general meeting (AGM) …
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10 July 04:48 PM RAK White Cement ratifies 25% acquisition offer from India’s UltraTech Cement; details unveiled
Abu Dhabi – Mubasher: The general assembly meeting of Ras Al Khaimah Company for White Cement and Construction Materials (RAK White Cement) approved, on 9 July 2024, the conditional cash offer from Indian manufacturer UltraTech Cement Middle East …
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10 July 04:42 PM Network International, Mastercard Transform introduce new B2B Payments solution in UAE
UAE – Mubasher: Network International, the leading digital commerce enabler in the Middle East and Africa, has introduced new business payment solutions for companies in the UAE through a partnership with Mastercard. Leveraging Mastercard's global …
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10 July 03:56 PM Marriott International, Eagle Hills pen agreement to launch 1st Ritz-Carlton Reserve in UAE
UAE – Mubasher: Marriott International has signed an agreement with Eagle Hills open the first Ritz-Carlton Reserve in the UAE on Ramhan Island in Abu Dhabi. Overlooking the Arabian Gulf, the new hotel is scheduled to open in 2029, according to a …
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10 July 03:32 PM UAE stock markets close Wednesday in green zone
UAE – Mubasher: The benchmark index DFMGI of Dubai Financial Market (DFM) rose by 1.93 points (0.04%) on Wednesday, closing the session at 4,080.22 points. A total of 106.87 million shares were exchanged at a turnover of AED 260.71 million. Dubai …
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10 July 03:06 PM Servme, MyFatoorah partner to enhance digital payments in Middle Eastern restaurants
Mubasher: Servme, the leading reservation and guest CRM platform for restaurants and hospitality operators, had entered into a partnership with MyFatoorah, a leading payments platform, to boost payment adoption for restaurants across the Middle …
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10 July 02:58 PM Al Seer Marine elects Chairman, Vice Chairman
Abu Dhabi – Mubasher: The board members of Al Seer Marine Supplies & Equipment have elected Readh Faraj Ahmed Alkindi as the Chairman of the board, upon a resolution in their 9 July 2024 meeting. Meanwhile, General Jasem Yousef Yaqoob Almansoori …
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10 July 02:04 PM IHC’s unit completes nearly 20% equity acquisition in Elsewedy Electric; value unveiled
Cairo – Mubasher: The Egyptian Exchange (EGX) has completed the transfer of the ownership of around 427.71 million shares in Elsewedy Electric Company to Two Point Zero Group, a subsidiary of International Holding Company (IHC), for EGP 21.20 …
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10 July 12:27 PM Saudi Arabia tops MENA's VC funding in H1-24 – Report
Riyadh – Mubasher: Saudi Arabia ranked first in MENA in terms of the value of venture capital (VC) investments during the first half (H1) of 2024, attracting $412 million, down 7% year-on-year (YoY), according to a report by MAGNiTT. Around 32% of …
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10 July 10:34 AM Dubai Chambers, VFS Global sign MoU to improve access to global markets
UAE – Mubasher: Dubai Chambers has entered into a Memorandum of Understanding (MoU) with VFS Global, visa outsourcing and technology service provider for governments and their diplomatic missions, to boost trade and investment growth for …
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9 July 04:29 PM GCC’s project awards drop 20% YoY in Q2-24 – Report
Mubasher: The GCC saw a notable decline in project awards during the second quarter (Q2) of 2024, with total awards dropping by 19.70% year-on-year (YoY) to $51.70 billion from $64.30 billion in the same period last year. This downturn was …
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9 July 02:32 PM DFM closes Tuesday down; ADX up
UAE – Mubasher: The main index of Dubai Financial Market (DFM) lost 3.67 points (0.09%) and ended Tuesday's trading session lower at 4,078.29 points. A total of 115.65 million shares were exchanged during the session at a value of AED 274.95 …
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9 July 02:27 PM Rove Hotels opens new boutique hotel in Dubai
UAE – Mubasher: Rove Hotels has inaugurated a new hotel in Dubai’s Jumeirah Beach Residence (JBR) under the name Rove JBR, bringing its total hospitality portfolio in Dubai to 3,600 rooms. The new boutique hotel offers travellers Rover Rooms or …
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9 July 11:49 AM Avalon Pharma obtains SAR 70m from Emirates NBD
Riyadh – Mubasher: Middle East Pharmaceutical Industries Company (Avalon Pharma) secured a Sharia facility amounting to SAR 70 million from Emirates NBD on 8 July 2024. The Saudi company obtained the loan for one year to finance its operations, …
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9 July 11:06 AM Agthia Group launches AED 90m manufacturing facility in Saudi Arabia
Abu Dhabi – Mubasher: Agthia Group opened a new protein manufacturing facility at the Industrial City 1 in Jeddah, Saudi Arabia, according to a press release. This strategic investment aligns with Agthia's commitment to Saudi Vision 2030 to …