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1 December 02:41 PM UAE’s Agthia acquires majority stake in Egypt’s Auf Group
Abu Dhabi – Mubasher: Agthia Group completed the acquisition of a 60% stake in Auf Group, an Egypt-based healthy snacks and coffee manufacturer as well as retailer, for an initial price of up to EGP 2.92 billion. The acquisition boosts Agthia’s …
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1 December 11:07 AM OIC member states log $63bn trade deficit for halal economy products in 2021
Mubasher: The member states of the Organisation of Islamic Cooperation (OIC) have registered a trade deficit of $63 billion for halal economy products in 2021, according to the 2022 Annual OIC Halal Economy Report. Last year, total halal product …
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1 December 10:20 AM UAE’s AMEA Power to deploy renewable energy projects in Egypt with $1.1bn investments
Cairo – Mubasher: Egypt’s Prime Minister, Mostafa Madbouly, has witnessed the signing ceremony of financial closure agreements between UAE’s AMEA Power and a number of international financing institutions at $1.10 billion. AMEA Power will …
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30 November 02:22 PM UAE stock markets close Wednesday’s session in green
UAE – Mubasher: The main index of Dubai Financial Market (DFM) gained 19.57 points (0.59%) and ended Wednesday’s trading session at 3,323.96 points. A total of 392.57 million shares were exchanged at a value of AED 781.73 million. Ajman Bank, …
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30 November 10:59 AM Strategic partnership signed between Etihad Rail, Borouge
Abu Dhabi - Mubasher: His Highness Theyab bin Mohamed bin Zayed Al Nahyan witnessed the signing of the terms sheet for a strategic partnership for sustainable transportation between Etihad Rail and Borouge to transport 1.30 million tonnes of …
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30 November 10:26 AM ZāZEN Properties reports over 8K sales transactions of AED 25.8bn in October
Dubai – Mubasher: ZāZEN Properties will launch sales for its newest project, ZāZEN Gardens, next week. High demand for off-plan real estate projects spurred 130% growth in Dubai’s preconstruction segment over this year's first half (H1). …
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30 November 09:44 AM UAE’s strong economy to pull in more foreign investments - Al Tamimi Investments
Dubai - Mubasher: Robust investment flows to the UAE are expected in the coming years thanks to the country’s consistent strong economic performance, steady growth, and ambitious development plans in the next 50 years, says Al Tamimi Investments. …
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29 November 08:21 PM Aldar teams up with Nobu Hospitality for Al Saadiyat project
Abu Dhabi – Mubasher: Aldar Properties has entered into an exclusive partnership with Nobu Hospitality to develop a new luxury hotel and branded residences to boost Aldar’s Mamsha Al Saadiyat. Under the collaboration agreement, Aldar will …
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29 November 07:46 PM Gulf Islamic Investments launches $100m debt fund
UAE – Mubasher: UAE-based Gulf Islamic Investments (GII), a sharia-compliant alternative investment company, is launching a $100 million debt fund called GDF-I, according to a press release. GDF-I aims to support high-growth enterprises in …
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29 November 04:13 PM Bioventure, Minapharm, MiGenTra to commercialise multiple biosimilar candidates of Alvotech
Mubasher: Dubai-based Bioventure, Minapharm Pharmaceuticals, and MiGenTra GmbH have signed an exclusive licence agreement for the commercialisation of multiple biosimilar candidates developed and manufactured by Alvotech, in Egypt and eighteen …
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29 November 03:44 PM IHC completes 17% capital hike via acquisition of Infinity’s shares
Abu Dhabi – Mubasher: International Holding Company (IHC) increased its capital by 17% to AED 2.10 billion from AED 1.80 billion, according to a press release. The transaction came after acquiring Infinity Wave Holding’s shares in the ADX-listed …
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29 November 02:53 PM DFM closes Tuesday up; ADX ends session lower
UAE – Mubasher: The main index of the Dubai Financial Market (DFM) went up by 17.05 points (0.51%) on Tuesday and ended the trading session at 3,304.39 points. A total of 183.25 million shares were traded at a value of AED 394.86 million. Taaleem …
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29 November 02:35 PM Eagle Hills unveils $2.5bn investment overseas
Abu Dhabi – Mubasher: UAE global property developer Eagle Hills has launched $2.50 billion Durrës Yachts & Marina, the largest-ever super yachts marina in the Mediterranean.  Situated in the ancient city of Durrës, the Durrës Yachts & Marina is …
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29 November 02:26 PM EFG Hermes concludes Taaleem’s IPO at $240m
Cairo - Mubasher: Egyptian Financial Group Hermes Holding’s (EFG Hermes) investment banking division closed advisory as joint arranger and global coordinator on Taaleem Holdings’ initial public offering (IPO) at $240 million. The UAE-based firm …
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29 November 12:26 PM Al Ashram Contracting awarded AED 112m contract by Ellington Properties
Dubai - Mubasher: Dubai’s leading and award-winning design-led boutique developer, Ellington Properties, has awarded Al Ashram Contracting the AED 112 million contract to start developing the Ellington House. With more than four decades of …
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29 November 12:17 PM IHC reportedly eyes IPOs in 2023; other investments unveiled
Abu Dhabi – Mubasher: International Holding Company (IHC) intends to conduct four initial public offerings (IPOs) in 2023, the same number it completed in 2022, Syed Basar Shueb, CEO of IHC, told Reuters. Shueb pointed out that the company has not …
Osmar Chohfi, President of ABCC
27 November 03:32 PM Brazilian exports to Arab world exceed $14bn in 10M-22
Mubasher: The Arab Brazilian Chamber of Commerce (ABCC) has announced an annual increase of 25.71% in Brazilian exports to the Arab countries during the first ten months (10M) of 2022 at $14.47 billion from $11.51 billion. Brazilian exports to the …
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27 November 02:24 PM Americana Restaurants announces final IPO price for dual listing
Mubasher: Americana Restaurants International settled the final price for its initial public offering (IPO) on the Saudi Exchange (Tadawul) and the Abu Dhabi Securities Exchange (ADX) at SAR 2.68 per share and AED 2.62, respectively. The total …
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27 November 10:48 AM Regional Investment cuts stake in Naeem Holding to 8.5%
Cairo - Mubasher: Regional Investment Holding has decreased its stake in Naeem Holding for Investment to 8.59% from 10.56% for a total value of $1.08 million. Regional Investment has sold 6.88 million shares in Naeem Holding at a share price …
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27 November 09:51 AM Saudi Arabia becomes 1st Gulf state to chair UNWTO Executive Council
Mubasher: Saudi Arabia has become the first GCC country to chair the United Nations World Tourism Organization (UNWTO) Executive Council. The election took place at the UNWTO’s 117th Executive Council meeting in Marrakesh, Morocco. The move …
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24 November 05:41 PM Al Salam Bank partners with Visa to enhance payment services
Mubasher: Bahrain-based Al Salam Bank, listed on Dubai Financial Market (DFM), signed an exclusive partnership agreement with Visa to provide advanced banking experience and varied payment methods for Visa cardholders, according to a press …
Giovanni Beretta, Regional Vice President at Jumeirah Group and General Manager of  Burj Al Arab Jumeirah
24 November 04:01 PM Jumeirah Group announces strategic appointment
Dubai – Mubasher: Global luxury hospitality company Jumeirah Group announced a strategic senior hire for its Dubai portfolio, reinforcing its commitment to further differentiate its brand experience and meet the ever-evolving needs of its guests.  …
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24 November 02:24 PM UAE stock markets close Thursday with varied performance
UAE – Mubasher: The main index of the Dubai Financial Market (DFM) ended Thursday’s trading session lower by 0.88 points (0.02%) at 3,325.33 points. The turnover amounted to AED 256.30 million through the exchange of 180.37 million shares. Gulf …
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24 November 12:24 PM Orascom Construction’s profits slide 17% in 9M-22
Cairo – Mubasher: The consolidated profits of Orascom Construction Plc retreated by 16.62% during the first nine months (9M) of 2022 to net $70.20 million from $84.20 million. Revenues of the EGX-listed firm grew to $3.05 billion during 9M-22, …
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23 November 05:55 PM UAE’s Qashio raises $10m in seed round to expand in Saudi Arabia
UAE – Mubasher: Qashio, a UAE-based fintech company, secured $10 million in a seed funding round through both equity and non-equity financing, in line with its plans to expand in Saudi Arabia, according to a press release. The funding round was …