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The CEPA aims to foster economic ties and enhance investment opportunities
14 October 04:23 PM UAE, South Korea to pursue Comprehensive Economic Partnership Agreement
UAE - Mubasher: The UAE and South Korea have discussed the prospect of pursuing a Comprehensive Economic Partnership Agreement (CEPA) to expand trade and investment relations between the two countries. This announcement was made during a meeting …
The main index of ADX inched up by 0.33%
14 October 03:48 PM UAE stock markets end Thursday on varied note
UAE - Mubasher: The UAE stock markets have ended Thursday's trading session on a varied note. The benchmark index of the Dubai Financial Market (DFM) remained unchanged at 2,789.5 points by the end of Thursday's trading session. A total of 111.71 …
K-MAC operates more than 300 Taco Bell restaurants
14 October 03:13 PM Mubadala Capital acquires K-MAC Enterprises
UAE - Mubasher: Mubadala Capital, an asset management subsidiary of Mubadala Investment Company, has acquired K-MAC Enterprises (K-MAC) from Lee Equity Partners Opportunities Fund. K-MAC operates more than 300 Taco Bell restaurants, located in the …
Munich Re will continue to be Daman’s reinsurer
14 October 02:42 PM ADQ inks agreement to acquire remaining 20% stake in Daman
UAE - Mubasher: ADQ has signed a definitive agreement to purchase the remaining 20% equity stake of The National Health Insurance Company (Daman) from Munich Re, a reinsurance provider.  Munich Re will continue to be Daman’s reinsurer to offer …
The agreement aims to develop business relations between the parties
14 October 01:50 PM Dubai Chamber inks MoU with Angola-UAE Chamber of Commerce, Industry
UAE - Mubasher: Dubai Chamber of Commerce and Industry has inked a Memorandum of Understanding (MoU) with the Angola-UAE Chamber of Commerce and Industry to exchange knowledge and facilitate cooperation between the two chambers. The agreement was …
Orascom Construction will hold a 25% stake in the project
14 October 12:19 PM Orascom Construction consortium to build 500 MW wind farm in Egypt
Mubasher: A consortium, including Orascom Construction PLC and Toyota Tsusho Corporation, has signed a 20-year agreement with the Egyptian Electricity Transmission Company (EETC) to develop and operate a 500 MW wind farm in Ras Ghareb in Egypt. …
Ayman Soliman, CEO of The Sovereign Fund of Egypt
14 October 11:33 AM Egypt's sovereign fund inks green hydrogen deal with Scatec, Fertiglobe
Cairo – Mubasher: The Sovereign Fund of Egypt (TSFE) signed an agreement with Norway's Scatec and Fertiglobe plc, an ammonia producer jointly owned by the Netherlands-based OCI and Abu Dhabi National Oil Company (ADNOC), to develop a 50-100 …
The authority's operating performance will recover in 2021
14 October 10:49 AM Moody's affirms DEWA's 'Baa2' ratings, revised outlook to stable
UAE - Mubasher: Moody's Investors Service (Moody's) has affirmed the ratings of Dubai Electricity and Water Authority (DEWA) at 'Baa2' and revised outlook to stable from negative. The ratings are attributed to the credit links between DEWA and the …
Halo will open an office at Abu Dhabi Global Market
14 October 10:25 AM Mubadala backs fintech company Halo in fundraising round
UAE - Mubadala: Halo Investing has secured more than $100 million in Series C funding, which was led by Owl Capital and included Abu Dhabi Catalyst Partners, managed by Mubadala Investment Company. The proceeds of the fundraising round, which also …
The UAE's non-oil foreign trade included AED 170 billion non-oil exports
14 October 09:52 AM UAE's non-oil foreign trade hits AED 900bn in H1-21
UAE - Mubasher: The UAE's non-oil foreign trade jumped by 27% year-on-year (YoY) to around AED 900 billion in the first half (H1) of 2021, the Emirates News Agency (WAM) reported. This performance also reflects a 6% growth in the country’s non-oil …
Buamim’s statement was made during the sixth Global Business Forum Africa
13 October 04:27 PM Dubai Chamber reports 24,800 registered African companies
UAE - Mubasher: The Dubai Chamber has recorded 24,800 registered African companies, up 15.5% since 2019, the President and CEO of Dubai Chamber, Hamad Buamim, announced. Buamim’s statement was made during the sixth Global Business Forum Africa in …
The benchmark index of the DFM went up 0.05%
13 October 03:43 PM DFM closes Wednesday up; ADX down
UAE - Mubasher: The UAE stock markets have ended Wednesday's trading session on a varied note. The benchmark index of the Dubai Financial Market (DFM) went up 0.05% to end Wednesday's session at 2,789.37 points. A total of 86.57 million shares …
The CBUAE will cooperate with DIFC to develop a co-sandbox
13 October 02:16 PM CBUAE, DIFC ink MoU to boost UAE’s FinTech ecosystem
UAE - Mubasher: The Central Bank of the UAE (CBUAE) has inked a Memorandum of Understanding (MoU) with Dubai International Financial Centre (DIFC) to boost the UAE’s FinTech ecosystem through a number of initiatives and activities. The CBUAE will …
Waha MENA Equity Fund has generated a cumulative return of 207.3%
13 October 01:34 PM Waha Capital's equity fund ranks among world’s top 50 hedge funds
Abu Dhabi – Mubasher: The Waha MENA Equity Fund, the fund of Waha Capital, has been placed among the world’s top 50 hedge funds, marking as the only hedge fund in MENA to feature in the ranking. Since its launch in 2014, the Waha MENA Equity Fund …
The transaction came following two innovative aviation financing deals
13 October 12:48 PM Etihad raises $1.2bn in first sustainability-linked ESG loan
UAE - Mubasher: Etihad Airways has secured $1.2 billion in its first and largest sustainability-linked loan (SLL) related to environmental, social, and governance (ESG) targets in global aviation. The transaction came following two innovative …
TotalEnergies will solarise eight of DHL’s sites in Dubai
13 October 12:13 PM DHL partners with TotalEnergies to develop solar energy project in Dubai
UAE - Mubasher: DHL Global Forwarding, the air, ocean, and road freight services provider, has inked a contract with TotalEnergies to develop a solar energy project in Dubai. Under the contract, TotalEnergies will solarise eight of DHL’s sites in …
Goldilocks recorded a 35% net return in the first nine months of 2021
13 October 11:16 AM Shuaa-managed Goldilocks records 158% net return since inception
Abu Dhabi - Mubasher: Goldilocks Investment Company Limited, an open-ended fund managed by Shuaa Capital's subsidiary Shuaa GMC Limited, has achieved a net return of 158% since its launch in July 2015. During the first nine months of 2021, …
The fund will invest in five to ten private companies per year
13 October 10:37 AM Abu Dhabi launches AED 5bn IPO Fund to support private companies' growth
UAE - Mubasher: The Supreme Council for Financial and Economic Affairs has launched the Abu Dhabi IPO Fund worth AED 5 billion to foster Abu Dhabi Securities Exchange (ADX)’s position as a leading stock market, the Abu Dhabi media office reported. …
The cabinet has also launched the new government strategic approach
13 October 10:11 AM UAE approves AED 290bn general budget for 2022- 2026
UAE - Mubasher: The UAE Cabinet has approved the country's general budget for 2022- 2026 with total expenditures of AED 290 billion. The cabinet, chaired by Sheikh Mohammed bin Rashid Al Maktoum, the UAE Vice President, Prime Minister, and Ruler …
The company is expected to raise around $765 million to $827 million
13 October 09:56 AM Fertiglobe sets IPO offer price range on ADX
Abu Dhabi - Mubasher: Abu Dhabi-based Fertiglobe has set the offer price range for its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX) between AED 2.45 to AED 2.65 per share. The offer price range for the IPO …
The benchmark index of the DFM went up 0.63%
12 October 04:20 PM UAE stock markets close Tuesday in green zone
UAE - Mubasher: The UAE stock markets have ended Tuesday's trading session in the green zone. The benchmark index of the Dubai Financial Market (DFM) went up 0.63% to settle at 2,787.7 points by the end of Tuesday's session. A total of 105.99 …
The UAE banks' deposits went up by 0.7% MoM
12 October 02:38 PM UAE banks' assets hit AED 3.228trn by end of August 2021
UAE - Mubasher: The UAE banks' assets have hit AED 3.228 trillion at the end of August 2021, down 0.2% from AED 3.233 trillion at the end of July 2021. The UAE banks' deposits went up by 0.7% month-on-month (MoM) to AED 1.928 trillion at the end …
GMSI will offer international practices to enhance service delivery
12 October 01:26 PM UAE’s Yas Holding inks partnership to manage Al-Azhar University Specialised Hospital
UAE - Mubasher: Global Medical Solutions International (GMSI), the healthcare management company of the UAE-based Yas Holding, has entered into a strategic partnership to manage and operate Al-Azhar University Specialised Hospital. The concession …
DP World is also expected to invest a further $1 billion
12 October 11:30 AM DP World partners with UK-based CDC to invest in ports, logistics across Africa
UAE - Mubasher: DP World has entered into a long-term partnership with CDC Group (CDC), the UK-based development finance institution, to invest in ports and logistics across Africa. Under the partnership, the Dubai-based global port operator …
The estimated consolidated backlog recorded $6.1 billion as of 30 September
12 October 10:56 AM Orascom Construction adds $960m to backlog in Q3-21
Cairo – Mubasher: Orascom Construction PLC, listed on the Egyptian Exchange (EGX) and Nasdaq Dubai, added new awards worth $960 million to its backlog in the third quarter (Q3) of 2021, marking a 42% year-on-year (YoY) increase.  This brings total …