UAE news

7 April 2025 11:42 AM DEWA expands electricity distribution network amid increasing demand

Dubai – Mubasher: Dubai Electricity and Water Authority (DEWA) commissioned 1,530 11 kilovolts (KV) distribution substations across Dubai in 2024, marking an 8.20% increase compared to 2023. Saeed Mohammed Al Tayer, Managing Director and CEO of …

Companies Investments

7 April 2025 09:17 AM Dubai’s real estate market exceeds AED 114bn in Q1-25

UAE – Mubasher: Dubai’s real estate market recorded a total transaction value of AED 114.08 billion in the first quarter (Q1) of 2025, marking an annual increase of 29.19%. Total transactions jumped by 23.11% year-on-year (YoY) to 42,269 as of 31 …

Real estate

6 April 2025 06:04 PM Response Plus, Falcon Aviation Services join forces to boost UAE's healthcare

Abu Dhabi – Mubasher: Response Plus Medical Services, a subsidiary of Response Plus Holding, has signed a memorandum of understanding (MoU) with Falcon Aviation Services LLC, a leading Emirati business aviation services operator in the Middle East …

Companies Investments

6 April 2025 05:40 PM Prices of investment funds including certificates in EGP, USD – Updated

Cairo – Mubasher: According to updated data, Mubasher is featuring mutual funds along with relevant prices based on the latest closing. Below you can find the names of Investment Funds as well as the price of each certificate in EGP, except for …

Companies Investments

6 April 2025 04:52 PM ADES Holding enters Brazilian market via SAR 319m agreement

Riyadh – Mubasher: ADES Holding Company has entered a charter agreement for its premium jackup rig, Admarine 511, with Constellation Oil Services Holding to execute a contract for Petrobras in Brazil. This agreement marks the Saudi group’s entry …

Companies Investments

6 April 2025 02:38 PM TAQA, EWEC ink power purchase agreement for AED 36bn project

Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) and Emirates Water and Electricity Company (EWEC) jointly developed and implemented new energy infrastructure projects to advance the UAE National Strategy for Artificial Intelligence …

Companies Investments

6 April 2025 10:26 AM IHC-owned Maseera acquires Egypt’s ADVA to boost AI-powered financial inclusion

Abu Dhabi – Mubasher: Maseera Holding for Financial Investments, a portfolio company of International Holding Company’s (IHC) subsidiary 2PointZero, has acquired Egyptian consumer finance platform ADVA. The transaction enabled ADVA to become …

Mergers and Acquisitions

6 April 2025 10:22 AM Al Arabia, Multiply Group to derive global expansion in advertising sector

Mubasher: Arabian Contracting Services Company (Al Arabia) and Multiply Group's media vertical teamed up to create a joint venture (JV) to invest in the global out-of-home (OOH) advertising sector. The 90-day memorandum of understanding (MoU) will …

Companies Investments

4 April 2025 00:44 AM As US tariffs announced, EBA publishes new banks-related reports

Global Reports

3 April 2025 10:42 PM Al Ansari Exchange closely monitoring global currency markets amid new US tariffs

Dubai – Mubasher: Al Ansari Exchange, the subsidiary of Al Ansari Financial Services, stated that it is closely monitoring global currency markets following the recent US tariff announcements by President Donald Trump, according to a press …

Trade

3 April 2025 06:22 PM US stocks plummet on Thursday amid tariffs-driven recession fears

Global Reports

3 April 2025 03:45 PM Prices of investment funds including certificates in EGP, USD – Updated

Cairo – Mubasher: According to updated data, Mubasher is featuring mutual funds along with relevant prices based on the latest closing. Below you can find the names of Investment Funds as well as the price of each certificate in EGP, except for …

Global Economy

2 April 2025 07:15 PM Uber, WeRide partner with RTA to bring autonomous vehicles to Dubai

UAE – Mubasher: Uber Technologies and WeRide have teamed up with Dubai’s Road and Transport Authority (RTA) for autonomous vehicles (AVs), yet more details on the launch and next steps for the AVs pilot in Dubai will be announced in the coming …

Global Economy

2 April 2025 06:52 PM Ayan Capital secures up to GBP 25m financing, aims to become UK leader in Islamic banking

Mubasher: Ayan Capital, a fast-growing provider of halal vehicle financing, has raised up to GBP 25 million in Sharia-compliant financing facility from institutional debt provider Partners for Growth (PFG). The investment reflects the rising …

Sukuk and Islamic Finance

2 April 2025 06:08 PM Saudia launches flights to Athens, to introduce new departure airport in June

Riyadh – Mubasher: Saudi Arabia’s national flag carrier Saudia has launched seasonal flights to Athens in Greece from Riyadh, according to a press release. The inaugural flight, SV195, took off from King Khalid International Airport on 2 April …

Global Economy

2 April 2025 05:37 PM e& subsidiary concludes acquisition of SBB in EUR 825m deal value

Abu Dhabi – Mubasher: e& PPF Telecom Group BV (e& PPF Telecom), a subsidiary of Emirates Telecommunications Group Company (e&), has completed the takeover of SBB d.o.o. Serbia, according to a bourse disclosure. The transaction value is worth EUR …

Mergers and Acquisitions

2 April 2025 04:14 PM EDGNEX by DAMAC acquires Finland’s Hyperco in step with driving success in region

UAE – Mubasher: EDGNEX Data Centers by DAMAC unveiled the takeover of Finland-founded data centre company, Hyperco. The acquisition contributes to the region's evolving data center landscape, creating new jobs and promoting economic development, …

Companies Investments

1 April 2025 09:51 PM Global firm EXP announces partnership with oil-focused Al Suwaiket

Riyadh – Mubasher: EXP, a global engineering, architecture, design and consulting firm has teamed with Al Suwaiket Group, a leader in supplying products and services to the oil and gas industry, for projects in Saudi Arabia. The EXP Al Suwaiket …

Sector Reports

1 April 2025 05:09 PM Modon collaborates with Elsewedy Industrial Development for Egypt’s Ras El-Hekma

Abu Dhabi – Mubasher: The UAE’s Modon Holding has teamed up with Elsewedy Industrial Development to build and operate a new industrial zone for the Ras El-Hekma city megaproject in Egypt, according to a press release. The two companies signed a …

Real estate

1 April 2025 04:14 PM Jafza unveils AED 90m strategic investment to meet surging demand

UAE – Mubasher: Jebel Ali Free Zone (Jafza) has cemented its position with a strategic AED 90 million investment in Phase 2 of its Logistics Park, according to a press release. The expansion will add 360,000 square feet of Grade-A facilities, …

Trade

1 April 2025 03:40 PM JINGDONG Logistics expands operations in MENA

Mubasher: JINGDONG Logistics, also known as JD Logistics, has expanded its presence in the Middle East with five warehouses and beyond in parts of North Africa, according to a press release. The Chinese supply chain management company established …

Companies Investments

31 March 2025 04:56 PM Al Ansari to launch digital wallet upon regulatory approvals

Dubai – Mubasher: Al Ansari Digital Pay, the fintech arm of Al Ansari Financial Services, recently secured final approvals from the Central Bank of the UAE (CBUAE) for both the Stored Value Facility (SVF) and Retail Payment Services and Card …

Banking and Finance

31 March 2025 03:42 PM Region-focused Reynaers Middle East completes iconic project in Iraq

Mubasher: International aluminium solutions provider Reynaers Middle East has successfully completed the World Heart Hotel and Mall in Iraq, according to a press release. The project, which is located in Baghdad, features panoramic design that …

Companies Investments

31 March 2025 03:20 PM EHC Investment fully takes over Al Fanar Gas through energy arm

Abu Dhabi – Mubasher: EHC Investment, through its energy arm Emirates International Gas (EIG), has fully acquired of Al Fanar Gas Group, an Abu Dhabi-based leading gas distributor and maintenance provider and one of the most prominent gas service …

Mergers and Acquisitions

30 March 2025 06:54 PM Bitpanda obtains VARA licence as beginning of expansion beyond Europe

UAE – Mubasher: Bitpanda, a virtual assets platform, has secured a Broker-Dealer licence from the Dubai Virtual Assets Regulatory Authority (VARA), obtaining approval in record time. This step marks the beginning of the company’s expansion beyond …

Global Economy

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