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The total number of recoveries reached 19,572
4 June 04:47 PM UAE's coronavirus cases exceed 37,000
UAE – Mubasher: The UAE has confirmed 659 new coronavirus (COVID-19) cases after more than 54,000 tests had been conducted, raising the total number of cases to 37,018. The total number of recoveries reached 19,572 following the recovery of 419 …
Turnover amounted to AED 222.95 million
4 June 02:59 PM ADX gains AED 1.81bn on Thursday
UAE – Mubasher: The main index of the Abu Dhabi Securities Exchange (ADX) went up by 0.43% or 18.40 points to settle at 4,303.14 points by the end of Thursday's session, maintaining its positive performance. Turnover amounted to AED 222.95 million …
The market cap value jumped by AED 3.74 billion
4 June 02:44 PM DFM exceeds 2,000 pts at Thursday's close
Dubai – Mubasher: The benchmark index of the Dubai Financial Market (DFM) closed Thursday's session at 2,039.48 points, up 1.98% or 39.77 points, crossing the 2,000-mark for the first time since April 2020. The market cap value jumped by AED 3.74 …
Wizz Air flew 40 million passengers to 151 airports
4 June 01:18 PM Wizz Air to have 100 aircraft serving GCC by 2035
Mubasher: Wizz Air seeks to own 100 aircrafts serving across the GCC markets by 2035, announced Wizz Air CEO, Joszef Varadi. Varadi made the announcement in an interview with the aviation industry consultant John Strickland during the ATM Virtual …
The airline has linked Melbourne and Sydney with London
4 June 12:06 PM Etihad Airways to link 20 cities via Abu Dhabi from 10 June
UAE – Mubasher: Etihad Airways will connect 20 cities in Europe, Asia, and Australia together via Abu Dhabi starting 10 June, according to a press release on Thursday. Recently, the airline has linked Melbourne and Sydney with London Heathrow by …
PAYFORT partnered with the region's leading banks
4 June 10:52 AM Amazon's PAYFORT to support SMEs in Saudi Arabia, UAE, Egypt
Mubasher: PAYFORT, an Amazon company, has introduced an initiative to support startups and small- and medium-sized enterprises (SMEs) in Saudi Arabia, the UAE, and Egypt. Through the #StartUpStayUp initiative, PAYFORT will help over 100 of …
The cash dividend stands at 10 fils per share
4 June 09:57 AM Dubai Investments' OGM approves 10% dividends for 2019
Dubai – Mubasher: The shareholders of Dubai Investments have approved paying out 10% cash dividends for fiscal year (FY) 2019. The cash dividend distribution stands at 10 fils per share, aggregating at an amount of AED 425.201 million, according …
The decision includes the international airports of Abu Dhabi and Dubai
4 June 09:42 AM UAE to resume international flight operations across airports
UAE - Mubasher: The UAE has allowed airports to resume operations of passenger transportation and transit from other international airports, as part of the country's measures to re-open businesses. This announcement was made by the spokesman of …
3 June 05:30 PM Saudi Arabia, Russia near agreement to extend oil output cut
Saudi Arabia and Russia have reportedly agreed on a preliminary deal to extend the current crude oil output curbs for another month.
Air Arabia has made efforts to prevent job cuts
3 June 04:01 PM Air Arabia to cut more jobs amid COVID-19
Dubai – Mubasher: Air Arabia has decided further layoffs across different departments, due to the economic consequences of the coronavirus (COVID-19) pandemic, a company spokesperson told Reuters. The spokesperson of the Sharjah-based airline, …
The market cap value increased by AED 900m
3 June 03:19 PM ADX up on Wednesday; market cap reaches AED 481.78bn
Abu Dhabi – Mubasher: The main index of the Abu Dhabi Securities Exchange (ADX) inched up by 0.17% or 7.36 points to close Wednesday's trading session at 4,284.73 points. Turnover amounted to AED 261.07 million after the exchange of 63.85 million …
The market cap value amounted to AED 288.08bn
3 June 02:25 PM DFM gains 15 pts on Wednesday
Dubai – Mubasher: The benchmark index of the Dubai Financial Market (DFM) increased by 0.76% or 15.25 points to 1,999.71 points by the end of Wednesday's trading session, maintaining the upward performance on Tuesday, 2 June. A total of 161.61 …
May's PMI has reflected a considerable decline
3 June 01:48 PM UAE PMI sees fourth contraction in row - IHS Markit
UAE - Mubasher: The IHS Markit UAE Purchasing Managers' Index (PMI) increased to 46.7 in May from 44.1 in April, according to a press release on Wednesday. May's PMI has reflected a considerable decline in the UAE's non-oil private businesses in …
Abu Dhabi is raising money via bond markets
3 June 12:38 PM Abu Dhabi issues $3 billion bonds
UAE – Mubasher: Abu Dhabi has issued multi-tranch sovereign bonds at a total value of $3 billion by reopening its bond issuance programme, according to the emirate's media office. The issuance, three equal tranches with five, 10, and 30-year …
UAE banks' foreign assets grew to AED 814.89bn in April
3 June 11:37 AM UAE banks' foreign assets up 3% in April
UAE – Mubasher: The foreign assets of the UAE banking system grew by 3% month-on-month (MoM) to AED 814.89 billion last April from AED 791.64 billion in March 2020. Since the beginning of 2020, the UAE bank’s foreign-currency assets rose by around …
Dubai Financial Market
3 June 11:04 AM GFH reveals market making activity for May
Mubasher: GFH Financial Group announced the market making transactions conducted by its market maker, Securities and Investment Company (SICO), during May 2020 in Bahrain Bourse and the Dubai Financial Market (DFM). In Bahrain Bourse, the company …
SAFEEN FEEDERS will offer new feeder services
3 June 10:53 AM Abu Dhabi Ports establishes new feeder company
UAE - Mubasher: Abu Dhabi Ports has announced the establishment of a new feeder services company 'SAFEEN FEEDERS' to facilitate the growing trade volumes in the Gulf region. To serve the group's mainliner shipping clients, the new company will …
FAB sold 30-year Formosa bonds
3 June 10:12 AM FAB sells $500m Formosa bonds in May
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) sold 30-year Formosa bonds with a 0% coupon at a total value of $500 million in a private placement last month, according to Reuters. Standard Chartered has solely arranged the transaction, in which …
The company's revenues recorded AED 592.8 million in Q1
3 June 09:40 AM RAK Ceramics sees 11% lower profits at AED 26m in Q1-20
Abu Dhabi – Mubasher: The net profits attributable to the owners of Ras Al Khaimah Ceramics (RAK Ceramics) declined by 11.4% to AED 25.96 million during the first quarter (Q1) of 2020 from AED 29.01 million in the same period of 2019. The …
KPMG - Saudi Arabia
2 June 04:53 PM M&A deals in GCC expected to grow amidst COVID-19 – Report
Riyadh – Mubasher: A recent report by KPMG is expecting merger and acquisition (M&A) deals in Saudi Arabia and other Arabian Gulf countries to increase amid the coronavirus disease (COVID-19) pandemic. With many small and medium-sized enterprises …
Women currently outnumber men at universities in 15 Arab countries
2 June 04:44 PM Women's wealth in Middle East at $786bn with further growth expected
Mubasher: Women currently represent 13% of the Middle East wealth segment, with dramatic growth to be seen in the region during the coming years, according to a recent report by the Boston Consulting Group (BCG). Women's wealth in the Middle East …
Sharjah has issued AED 4 billion Sukuk
2 June 04:00 PM Sharjah pumps AED 4bn liquidity to support banking system
UAE - Mubasher: Sharjah Finance Department (SFD) has issued AED 4 billion Sukuk to enable the emirate's banks to provide financial support to the sectors impacted by coronavirus (COVID-19). The 12-month AED-dominated Sukuk, representing the first …
HSBC was hired as global coordinator for the transaction
2 June 03:18 PM Sharjah launches new dollar-dominated Sukuk
UAE - Mubasher: Sharjah began on Tuesday marketing seven-year US dollar-dominated Sukuk, Reuters reported citing a document from one of the banks arranging the deal. Sharjah has set an initial indicative price of about 275 basis points over the …
The telecommunications sector led the gainers
2 June 02:33 PM ADX up on Tuesday; market cap gains AED 10.23bn
Abu Dhabi – Mubasher: The main index of Abu Dhabi Securities Exchange (ADX) ended Tuesday's trading session on green zone after gaining 2.56% or 106.67 points to 4277.38 points, keeping its upward performance for the third consecutive session. The …
Around 186.77 million shares were exchanged
2 June 02:14 PM DFM keeps upward performance for second session in row
Dubai – Mubasher: The benchmark index of the Dubai Financial Market (DFM) edged up 0.54% or 10.74 points to stand at 1,984.46 points by the end of Tuesday's trading session, maintaining its positive performance on Monday, 1 June. The market cap …