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The webinar discussed the Road to Digital Transformation and Innovation
12:33 PM Industry leaders discuss the future of digital transformation
By: Moslem Ali Cairo – Mubasher: The British Egyptian Business Association (BEBA) organized a webinar on Tuesday discussing “The Road to Digital Transformation and Innovation” to discuss the rising importance of digital transformation, especially …
The DFM's market cap value increased by AED 4.11bn
4 hours ago UAE bourses witness mixed performance in September
UAE - Mubasher: The UAE stock markets have seen a mixed performance in September after the Dubai Financial Market (DFM) had achieved a positive performance, whereas the Abu Dhabi Securities Exchange (ADX) witnessed a negative one. Dubai Financial …
The countries have sought to adopt fiscal reforms
4 hours ago UAE allocates AED 26.4bn for social spending amid COVID-19 - IMF
UAE - Mubasher: The UAE has allocated more than AED 26.4 billion of stimulus packages, launched to alleviate the coronavirus (COVID-19) impact, for social spending, according to the International Monetary Fund (IMF). In its report entitled 'Social …
5 hours ago US economy shrinks at record rate of 31.4% in Q2-20
Mubasher: The US economy shrank the most in at least 73 years in the second quarter (Q2) of 2020.
ADNOC has established two trading units
03:45 PM ADNOC Trading begins derivatives trading
UAE - Mubasher: ADNOC Trading, one of the new trading entities of Abu Dhabi National Oil Company (ADNOC), has started derivatives trading as a direct market participant, transforming the company from a traditional marketer of its products to a …
03:35 PM Shell plans up to 9K job cuts in low-carbon transition
Royal Dutch Shell on Wednesday said that it plans to cut up to 9,000 jobs, or over 10% of its workforce.
The market cap value increased by AED 5.06 billion
03:00 PM ADX closes Wednesday up; market cap gains AED 5.06bn
Abu Dhabi - Mubasher: The main index of the Abu Dhabi Securities Exchange (ADX) inched up by around 0.52% to settle at 4,518.06 points by the end of Wednesday's trading session. Turnover amounted to AED 356.58 million after 94.38 million shares …
The market cap value rose by AED 2.67bn
02:51 PM DFM gains 20 pts on Wednesday
Dubai - Mubasher: The benchmark index of the Dubai Financial Market (DFM) ended Wednesday's trading session in the green territory after gaining 0.91% or 20.57 points to settle at 2,273.48 points. A total of 300.87 million shares were traded …
Saudi Arabia had total Islamic finance assets of $339 billion as of March 2020.
02:24 PM KSA boosts position as world’s biggest Islamic finance market - Moody's
Riyadh – Mubasher: Moody’s Investors Service said Saudi Arabia will continue a shift to more Shariah-compliant finance over the next 12-18 months as corporates and households increasingly use Islamic products, even as low oil prices and the …
Mubadala has acquired a minority equity interest in Silver Lake
02:11 PM Mubadala, Silver Lake establish long-term investment strategy
UAE - Mubasher: Mubadala Investment Company (Mubadala) has partnered with Silver Lake, a global technology investment firm, to develop a 25-year investment strategy, according to a press release on Wednesday. Led by Silver Lake and supported by …
The issuance of the non-callable bonds was subscribed with more than $1.5bn
01:27 PM FAB issues $750m benchmark Tier 1 six-year bond
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has issued benchmark fixed-rate Additional Tier 1 perpetual six-year bonds worth $750 million, according to the Emirates News Agency (WAM). The issuance of the non-callable bonds was subscribed with …
The group has contributed to the reduction of 230,000 tonnes of CO2
12:38 PM ENOC saves 97m kWh power since 2014
UAE – Mubasher: Emirates National Oil Company Group (ENOC) has achieved 97 million kWh in power savings since 2014 because of the group's energy and resource management initiatives. This amount is equivalent to the energy needed to power 8,600 …
The platform will offer the world's first spot contract for raw sugar
11:37 AM DMCC launches DigitalSugar Trading Platform
UAE – Mubasher: Dubai Multi Commodities Centre (DMCC) has launched DigitalSugar Trading Platform in partnership with Al Khaleej Sugar, the world's largest sugar refinery, and Universa Blockchain. Using Universa’s leading blockchain technology, the …
Reliance has raised $1.8bn from KKR & Co and Silver Lake Partners
10:42 AM Mubadala at advanced talks to invest $1bn in India's Reliance Industries
UAE - Mubasher: Mubadala Investment Company (Mubadala) is holding advanced talks to invest $1 billion in the retail division of India's Reliance Industries, Reuters reported. In the past few weeks, Reliance Industries, controlled by Asia’s richest …
The board has also agreed on the acquisition of an investment property in Business Bay
10:00 AM Union Properties approves AED 400m offer for acquiring stake in Dubai Autodrome
Dubai – Mubasher: The board of Union Properties has agreed on the offer proposed to acquire a 40% stake in Dubai Autodrome's share capital worth AED 400 million. During a meeting held on Tuesday, 29 September, the board has also agreed on the …
This cash dividend distribution is part of the full-year 2020 dividend payment
09:39 AM ADNOC Distribution's board nods to AED 1.3bn interim dividends for H1-20
Abu Dhabi – Mubasher: The board of Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) has approved to pay out interim cash dividends of AED 1.285 billion or 10.29 fils per share for the first half (H1) of 2020. This cash dividend …
The Late Sheikh Sabah Al Ahmad Al Jaber Al Sabah
29 September 07:44 PM Emir of Kuwait passes away aged 91 years
Mubasher: The Emir of Kuwait, Sheikh Sabah Al Ahmad Al Jaber Al Sabah has passed away on Tuesday, at 91 years of age. The late Emir has ruled Kuwait since 2006, before that he was the Minister of Foreign Affairs for around four decades. "With …
29 September 05:02 PM Nokia reaches 5G equipment deal with BT
Nokia has inked a 5G deal with BT to become BT’s largest equipment provider, extending its long-term strategic partnership with Britain's biggest telecoms group.
DAE's multiple sources of liquidity provided about 280% coverage of cash requirements
29 September 04:22 PM Moody's assigns Dubai Aerospace 'Baa3' long-term issuer rating; outlook negative
UAE - Mubasher: Moody's Investors Service has assigned Dubai Aerospace Enterprise (DAE) Baa3 long-term issuer rating, with a negative outlook, according to a press release on Tuesday. Moody's ratings assigned to DAE and its subsidiaries have …
29 September 04:21 PM Walmart eyes $20-25bn investment in Tata’s super app
Mubasher: Walmart Inc is in negotiations with Tata Group over an investment of $20-25 billion in the Indian conglomerate’s proposed super app.
29 September 03:47 PM Musk intends IPO for SpaceX's Starlink business in several years
Elon Musk intends to list Starlink, SpaceX’s space internet venture, several years in the future when revenue growth is smooth and predictable.
The consortium owns a 49% stake in Abu Dhabi Properly Leasing Holding Company
29 September 03:46 PM ADNOC closes $5.5bn real estate partnership with Apollo-led consortium
UAE - Mubasher: Abu Dhabi National Oil Company (ADNOC) has closed its $5.5 billion real estate investment partnership with entities owned and/or advised by New York-headquartered Apollo Global Management's subsidiaries and a group of institutional …
Turnover amounted to AED 340.7 million
29 September 03:04 PM ADX closes Tuesday on marginal gains
Abu Dhabi - Mubasher: The main index of the Abu Dhabi Securities Exchange (ADX) went up 0.06% to settle at 4,494.75 points by the end of Tuesday's trading session. Turnover amounted to AED 340.7 million after 83.94 million shares had been traded …
A total of 453.42 million shares were traded
29 September 02:52 PM DFM ends Tuesday's session in red zone
Dubai - Mubasher: The benchmark index of the Dubai Financial Market (DFM) lost 0.37% or 8.58 points to close Tuesday's trading session at 2,252.91 points. A total of 453.42 million shares were traded through 4,497 transactions valued at AED 264.59 …
The total number of COVID-19 cases in the UAE recorded 93,090
29 September 02:24 PM UAE announces 995 new COVID-19 cases
UAE - Mubasher: The UAE has reported 995 new coronavirus (COVID-19) cases after conducting 98,412 tests, the UAE Ministry of Health announced on Tuesday. The total number of COVID-19 cases in the UAE recorded 93,090. The UAE confirmed 1,076 …