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15 July 06:23 PM Apple wins court's ruling on EU's EUR 13bn tax order
The European Union's (EU) general court has cancelled the 2016 order to Apple to pay EUR 13 billion in Irish taxes.
15 July 06:12 PM Google buys $4.5bn stake in Reliance's digital unit
Mubasher: India’s Reliance Industries announced Alphabet Inc’s Google will be purchasing a 7.7% stake in its digital unit, Jio Platforms, for $4.5 billion.
The UAE's SMBs were the most optimistic
15 July 05:10 PM UAE's SMBs optimistic about future businesses - Survey
UAE – Mubasher: The UAE reported the highest proportions of small and medium-sized businesses (SMBs) that are still operating their commercial businesses and engaging in revenue-generating activities despite coronavirus (COVID-19). This …
Turnover amounted to AED 163.08 million
15 July 02:35 PM DFM ends Wednesday with marginal losses
Dubai – Mubasher: The benchmark index of the Dubai Financial Market (DFM) inched down 0.22% or 4.56 points to stand at 2,048.20 points by the end of Wednesday's trading session, maintaining its downward performance on Tuesday, 14 July. Turnover …
The banks sector led the decliners
15 July 02:20 PM ADX closes Wednesday down; market cap records AED 590.7bn
Abu Dhabi – Mubasher: The main index of the Abu Dhabi Securities Exchange (ADX) declined by 1.56% or 66.71 points to end Wednesday's trading session at 4,221.11 points, maintaining its negative performance on Tuesday, 14 July. A total of 48.39 …
The company will implement its growth plans
15 July 02:03 PM Julphar's rights issue oversubscribed 2.3 times
Abu Dhabi – Mubasher: The AED 500 million rights issue of Gulf Pharmaceutical Industries (Julphar) has been oversubscribed 2.3 times to settle at AED 1.14 billion on application which closed on 12 July. The net proceeds from the rights issue will …
This listing is DP World’s inaugural perpetual issuance
15 July 01:09 PM DP World lists $1.5bn perpetual Sukuk on Nasdaq Dubai
Dubai - Mubasher: DP World has rung the market-opening bell to celebrate the listing of $1.5 billion perpetual Sukuk on Nasdaq Dubai, according to a press release on Wednesday. Proceeds from the Sukuk issuance will be utilised for general …
Emirates Airline will resume a daily operation of A380
15 July 12:28 PM Emirates reoperates A380 for first time since March
UAE - Mubasher: Emirates Airline announced the introduction of its A380 aircraft on its daily service to Amsterdam and the addition of a second daily A380 service to London Heathrow starting from 1 August, according to a press release on …
The number of residential transactions in Dubai dipped by 40% YoY
15 July 11:34 AM Dubai's real estate sector sees 40% YoY lower transactions in Q2-20
UAE - Mubasher: The number of residential unit transactions in Dubai dipped by 40% year-on-year (YoY) to 5,233 during the second quarter (Q2) of 2020, when compared to the same period of 2019. The decline in Dubai's residential transactions is …
Dubai's imports recorded AED 8 billion in H1-2
15 July 10:33 AM Dubai, Italy bilateral trade hits AED 9.5bn in H1-20
UAE – Mubasher: The trade exchange between Dubai and Italy has reached AED 9.5 billion during the first half (H1) of 2020, according to the Dubai media office. Dubai's imports from Italy recorded AED 8 billion in H1-20, while exports and …
The launch of Hope probe was delayed from 17 July
15 July 10:03 AM UAE delays Hope probe's launch for second time
UAE - Mubasher: The UAE Space Agency and the Mohammed bin Rashid Space Centre (MBRSC), in collaboration with Mitsubishi Heavy Industries, have postponed the liftoff of the Hope probe for the second time due to continued unstable weather conditions …
The prices of the recreation and culture dropped by 11.6%
15 July 09:35 AM Dubai's CPI down 3.4% in June
UAE - Mubasher: The Consumer Price Index (CPI) in Dubai declined by 3.44%in June, compared to 3.49% in May, amid a decrease in the price of five goods groups, according to the latest statistics by the Dubai Statistics Centre (DSC). The prices …
The probe was scheduled to liftoff on Wednesday
14 July 04:52 PM UAE postpones Hope probe's launch to 17 July
UAE - Mubasher: The UAE will launch its Hope probe on Friday, 17 July 2020, at 12:43 am (UAE time), according to a press release on Tuesday. The UAE Space Agency and the Mohammed bin Rashid Space Centre, in collaboration with Mitsubishi Heavy …
14 July 04:41 PM Phison to sell shares in joint venture to Kingston
Phison Electronics will sell its shares in Kingston Solutions (KSI), a joint venture with Kingston Technology Corporation, to Kingston.
14 July 04:30 PM Huawei to be banned from UK’s 5G networks
The UK government announced that it will ban mobile network operators from buying equipment from China’s Huawei by the end of 2020.
BeIN Sports shall return all financial gains it obtained as a result of the violation
14 July 04:09 PM KSA imposes SAR 10m fine on BeIN Sports; terminates licence permanently
Riyadh - Mubasher: Investigations conducted by the Saudi General Authority for Competition (GAC) against BeIN Sports indicated that the channel had abused its dominant position and committed several monopolistic practices related to potential …
OPEC oil exports recorded $564.89 billion
14 July 03:40 PM UAE sees 14% lower oil exports value in 2019
UAE - Mubasher: The value of the UAE's oil exports plunged by 14.3% or $8.25 billion to $49.64 billion in 2019, compared to around $57.89 billion in 2018, according to OPEC’s Annual Statistical Bulletin (ASB). The UAE accounted for 8.8% of …
Turnover amounted to AED 140.15 million
14 July 02:32 PM ADX closes Tuesday down; market cap loses AED 25m
Abu Dhabi – Mubasher: The main index of the Abu Dhabi Securities Exchange (ADX) has maintained its downward performance by the end of Tuesday's trading session after losing 0.45% or 19.19 points to stand at 4,287.82 points. The market cap value …
The market cap value dropped by around AED 2.04 billion
14 July 02:18 PM DFM maintains downward performance on Tuesday
Dubai – Mubasher: The benchmark index of the Dubai Financial Market (DFM) edged down by 0.72% or 14.98 points to end Tuesday's trading session at 2,052.76 points, maintaining its negative performance on Monday, 13 July. A total of 350.27 million …
14 July 02:08 PM Google in talks to buy $4bn stake in Jio Platforms
Google is now in advanced talks to invest about $4 billion for a stake in Reliance Industries’ digital arm, Jio Platforms.
This step is part of the bank's commitment to empowering SMEs
14 July 01:44 PM Emirates Islamic launches digital business banking package for SMEs
Dubai – Mubasher: Emirates Islamic Bank has introduced a new digital business banking package to support startups and small and medium-sized enterprises (SMEs). Under the new package, startups and SMEs will be enabled to open bank accounts with a …
Technology has a positive impact on employee mental and physical health
14 July 01:03 PM UAE workers support restrictions on technology for better health
UAE - Mubasher: Employers in the UAE should decrease technology overuse to avoid remote working mental health pressures, according to global research by Aetna International. A total of 68% of the employees surveyed by the research revealed …
The Chicago properties are spread across nearly 700,000 square feet
14 July 12:19 PM Investcorp exits $200m industrial real estate portfolio in US
Mubasher: Investcorp has sold a portfolio of industrial real estate properties located in the Boston and Chicago metropolitan areas in the US, through two separate transactions at a combined value of more than $200 million. Investcorp acquired the …
The UAE is the second largest Arab economy
14 July 11:46 AM UAE economy to contract by more than 3.5% in 2020 - IMF
UAE - Mubasher: The UAE economy is expected to contract in 2020 sharply more than anticipated by the International Monetary Fund (IMF) in April, according to the Director of the Middle East and Central Asia Department at the IMF, Jihad Azour. In …
The value of shareholders' equity grew to AED 12 billion
14 July 10:32 AM Dubai Investments' traded shares value exceeds AED 169bn
Dubai – Mubasher: The trading value of Dubai Investments' shares has reached AED 169.5 billion since listing, with 47 billion shares exchanged through 1.2 million transactions. This announcement was made during the company's celebration of its …