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IPO numbers globally continued to pick up with 1,363 IPOs taking place in 2020.
02:32 PM KSA continues to lead IPO market in MENA with $1.45bn raised on Tadawul in 2020
Riyadh - Mubasher: The MENA region saw nine initial public offerings (IPOs) raise proceeds of $1.86 billion, a fall of 40% in total issuances and 94% in total proceeds when compared with 2019, according to the EY MENA IPO Eye Q4 2020 report. Out …
The international deals accounted for 43% of the total transactions
25 February 02:04 PM IDEX and NAVDEX 2021 deals exceed AED 904m on 5th day
UAE - Mubasher: The total value of deals signed during the fifth day of the IDEX and NAVDEX 2021, held on 21-25 February, reached AED 904.3 million, the Emirates News Agency (WAM) reported. The international deals accounted for 43% of the total …
The kingdom’s trade exchange with the four GCC states was SAR 98.1 billion ($26.15 billion) in 2020.
25 February 01:38 PM Saudi trade exchange with 4 Gulf countries falls 6.1% in 2020
Riyadh – Mubasher: Saudi Arabia’s trade exchange with the UAE, Bahrain, Kuwait, and Oman slid by 6.06% in 2020 when compared to a year earlier. The kingdom’s trade exchange with the four GCC states was SAR 98.1 billion ($26.15 billion) in 2020, …
The UAE registered 4,678 new recoveries
25 February 01:28 PM UAE reports 3,025 new COVID-19 cases
UAE - Mubasher: The UAE has recorded 3,025 coronavirus (COVID-19) cases to raise the total number of cases to 381,662, the UAE Ministry of Health announced on Thursday. The ministry conducted 195,866 COVID-19 tests to detect further cases. The UAE …
The GCC insurers could face key risks relating to volatility of earnings
25 February 12:51 PM S&P Global ratings on GCC insurance market expected to remain stable in 2021
Mubasher: S&P Global predicted its ratings on the GCC insurance market to remain stable in 2021, attributed to strong capital buffers, despite the coronavirus (COVID-19) economic repercussions and uncertainty. A relatively large number of the GCC …
The CBUAE has fined any non-authorised individual with AED 600,000
25 February 11:55 AM CBUAE imposes sanctions on non-authorised individual related to exchange house
UAE - Mubasher: The Central Bank of the UAE (CBUAE) has imposed financial and administrative sanctions on a non-authorised individual related to an exchange house operating in the UAE. This decision aims to combat money laundering and the …
The ministry conducted 179,229 COVID-19 tests
24 February 01:49 PM UAE announces 3,102 new COVID-19 cases
UAE - Mubasher: The UAE Ministry of Health recorded 3,102 new coronavirus (COVID-19) cases to raise the total number of cases to 378,637. The ministry conducted 179,229 COVID-19 tests to detect further cases. The total number of recovered cases in …
The cash circulating outside the UAE banks represents around 5.3% of M3
24 February 01:25 PM Cash in circulation outside UAE banks rises AED 16.5bn in 2020
UAE - Mubasher: The volume of cash circulating outside the UAE banks increased by AED 16.5 billion in 2020, bringing the cumulative balance to AED 94.7 billion by the end of December 2020, the Emirates News Agency (WAM) reported. The cumulative …
Abu Dhabi's trade with Kuwait includes AED 19.7bn exports
24 February 10:24 AM Abu Dhabi's non-oil trade with Kuwait hits AED 51.3bn over five years
UAE - Mubasher: The total value of Abu Dhabi's non-oil trade with Kuwait reached AED 51.3 billion over the past five years, the Abu Dhabi media office reported. Abu Dhabi's non-oil trade with Kuwait comprised AED 19.7 billion exports, AED 2.6 …
The CBUAE will join the central bank digital currency bridge
23 February 01:09 PM CBUAE inks MoU with Hong Kong Monetary Authority to promote fintech co-operation
UAE - Mubasher: The Central Bank of the UAE has entered into a Memorandum of Understanding (MoU) with the Hong Kong Monetary Authority (HKMA) to promote fintech collaboration between the two authorities. Under the agreement, the two jurisdictions …
Peru has recorded a 550-fold increase in its total exports to the UAE
23 February 11:23 AM Peru's exports to UAE record $3.3bn accumulated growth by end of 2020
UAE - Mubasher: Peru has recorded a 550-fold increase in its total exports to the UAE between 2011 and 2020, with an accumulated growth of more than $3.3 billion.  This announcement was made on the sidelines of the 10th year participation of …
The total balance of non-resident deposits reached AED 202.4bn
22 February 04:36 PM Non-resident deposits in UAE banks exceed loans by AED 20.1bn in 2020
UAE - Mubasher: The deposits by non-residents in the UAE-based banks have exceeded their loans by AED 20.1 billion in 2020, the Emirates News Agency (WAM) reported. The total balance of non-resident deposits reached around AED 202.4 billion in …
The ministry conducted 156,430 COVID-19 tests
22 February 01:41 PM UAE records 2,105 new COVID-19 cases
UAE - Mubasher: The total number of the coronavirus (COVID-19) cases in the UAE increased to 372,530, as the Ministry of Health announced on Monday 2,105 new cases. The ministry conducted 156,430 COVID-19 tests to detect further cases. The UAE …
The industry in the UAE amounted to AED 10bn in 2020
22 February 01:24 PM UAE's food packaging industry to hit AED 14bn in upcoming five years
UAE - Mubasher: The UAE will witness a growth in the food packaging industry to AED 14 billion in the upcoming five years, the Managing Director of Hotpack Global, a manufacturer of disposable food packaging products, Abdul Jebbar PB, said. This …
ADGM Registration Authority becomes the only IAIR member from the Middle East
21 February 01:46 PM ADGM Registration Authority joins International Association of Insolvency Regulators
UAE - Mubasher: The Abu Dhabi Global Market (ADGM) Registration Authority has joined the International Association of Insolvency Regulators (IAIR) to become the only IAIR member from the Middle East. The ADGM's Registration Authority is …
The ministry conducted 197,701 COVID-19 tests
21 February 01:12 PM UAE announces 2,250 new COVID-19 cases
UAE - Mubasher: The UAE has registered 2,250 new coronavirus (COVID-19) cases to raise the total number of cases to 370,425, the UAE Ministry of Health reported on Sunday. The ministry conducted 197,701 COVID-19 tests to detect further cases. The …
Past edition of the IDEX (Photo Credit - atalayar.com)
18 February 02:34 PM SAMI to participate in IDEX 2021 in UAE
Riyadh – Mubasher: The Saudi Arabian Military Industries (SAMI) will participate in the International Defense Exhibition (IDEX) 2021 under the title ‘Invest Saudi’ through the Saudi Pavilion. The participation reflects SAMI’s commitment to …
The Middle East and Africa witnessed the highest level in percentage terms
18 February 01:35 PM Middle East insurance M&A defies COVID-19-driven dip in 2020; expected to surge in 2021
Mubasher: The insurance sector across the world has registered 407 completed merger and acquisition (M&A) deals in 2020, lower than 419 in 2019. This record was mentioned by finding opportunity in adversity, the latest edition of global law firm …
The affirmation of the rating shows Ooredoo's resilient performance
18 February 12:28 PM Moody's affirms Ooredoo's rating at 'A2'; stable outlook
Mubasher: Moody's Investors Service (Moody's) has affirmed the long-term issuer rating of National Mobile Telecommunications Company (Ooredoo) at "A2", with a stable outlook. The A2-backed senior unsecured ratings on Ooredoo International …
The UAE banks have injected AED 72.2bn in the overnight deposits
18 February 11:49 AM UAE banks inject AED 72.2bn in CBUAE's overnight deposits in 2020
UAE - Mubasher: The banks operating in the UAE have injected around AED 72.2 billion in the overnight deposit accounts at the Central Bank of the UAE (CBUAE) in 2020, according to the Emirates News Agency (WAM). The UAE banks' investments in …
Abu Dhabi recorded 19,000 executed transactions in 2020
18 February 10:27 AM Abu Dhabi's real estate transactions hit AED 74bn in 2020
UAE - Mubasher: The total value of Abu Dhabi's real estate transactions reached AED 74 billion in 2020, up 28% compared to AED 58 billion in 2019, according to the Emirates News Agency (WAM). Last year, Abu Dhabi recorded 19,000 executed …
The UAE's holdings of the US debt instruments declined by 10.8% in 2020
17 February 03:07 PM UAE's holdings in US Treasury bonds amount to $36.3bn in December
UAE - Mubasher: The UAE has decreased its holdings of the US Treasury bonds by 1.4% month-on-month (MoM) to $36.3 billion in December 2020, compared to around $36.8 billion in November. On an annual basis, the UAE's holdings of the US debt …
Saudi Arabia was the top GCC buyer of US Treasury bonds with $134.4 billion in December 2020.
17 February 02:34 PM GCC holdings of US Treasuries fall 16.5% in December
Mubasher: Investments of the GCC states in US Treasury bills and bonds decreased by 16.5% or $45.9 billion year-on-year (YoY) during December 2020. Total investments of Gulf countries in US Treasury bills and bonds amounted to $231.414 billion in …
Dubai's secondary market transacted 2,373 properties
17 February 01:08 PM Dubai's real estate market sees 15.5% YoY higher sales transactions in January 2021
UAE - Mubasher: Dubai recorded 3,300 sales transactions worth AED 6.74 billion in its real estate market in January 2021, up 15.5% year-on-year (YoY) in terms of the number of transactions and 37% in terms of the value. The number of transactions …
GoDaddy will launch online training in partnership with Startups Without Borders (SWBs).
17 February 12:51 PM GoDaddy to empower entrepreneurs’ digitalisation in Egypt, MENA
Cairo – Mubasher: GoDaddy Inc. has announced its expansion into the MENA region, with a focus on Egypt, the UAE, and Saudi Arabia. With over 20 years of experience helping entrepreneurs looking to start a business or digitalise their own, GoDaddy …