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19 January 02:30 PM

Local Economy

The UAE has maintained its 30th place globally
1 hour ago UAE’s holdings of US Treasury bonds increase 3.9% MoM in November
UAE - Mubasher: The UAE has raised its holdings of the US Treasury bonds by 3.9% month-on-month (MoM) to $39.9 billion in November 2019, compared to $38.4 billion in October, according to recent data by the US Department of the Treasury. …
Bonds
EBRD offered EUR 183m to Egypt's Electricity Transmission Company
3 hours ago Egypt leads EBRD’s annual investments in 2019
Mubasher: With EUR 1.2 billion new commitments in 26 projects, Egypt has led the European Bank for Reconstruction and Development’s (EBRD) annual investments list in 2019, for the second year in a row, compared to EUR 1.1 billion in 2018. This …
Macroeconomics
The MBR Solar Park is set to be fully operational by 2030
18 January 09:05 PM DEWA to operate MBR Solar Park 3rd phase in April 2020
UAE – Mubasher: The third phase of the Mohammed bin Rashid Al Maktoum Solar Park (MBR Solar Park) in Dubai is set to be operational in April 2020, the Dubai Electricity and Water Authority (DEWA) said on Saturday, according to the Emirates News …
Macroeconomics
Non-oil exports grew 14% YoY in H1-19
18 January 07:50 PM UAE’s non-oil exports to total AED 240bn in 2019
UAE – Mubasher: The value of the UAE’s non-oil exports is expected to reach AED 240 billion in 2019, undersecretary of the Emirati economic ministry for foreign trade, Abdulla Al Saleh stated on Saturday. The country’s non-oil exports grew 14% …
Macroeconomics
Kuwaiti economy is still dependent on oil returns
18 January 04:26 PM S&P affirms Kuwait's credit rating at ‘AA’; Outlook stable
Mubasher: Standard and Poor's (S&P) has affirmed Kuwait's credit rating at (AA) with a stable outlook, the Kuwait News Agency reported on Saturday. The rating agency said that the Kuwaiti economy is still dependent on oil returns, which accounts …
Macroeconomics
Participants stressed the crucial role of government support to achieve gender quality
16 January 05:13 PM WiSER forum highlights digitalisation’s role in women empowerment
Abu Dhabi – Mubasher: The global leading renewable energy company Masdar held its fifth annual Women in Sustainability, Environment and Renewable Energy (WiSER) Forum on Tuesday, January 14 at Abu Dhabi Sustainability Week (ADSW) 2020. During an …
Event
Top officials from DoE & IRENA signing the MoU
16 January 04:23 PM DoE boosts sustainable energy via IRENA’s deal, new innovation platform
UAE – Mubasher: Abu Dhabi Department of Energy (DoE), the principal partner for Abu Dhabi Sustainability Week 2020 (ADSW), signed a Memorandum of Understanding (MoU) with the International Renewable Energy Agency (IRENA), the leading …
Macroeconomics
Trading will be effective on 19 January 2020
16 January 01:15 PM Abu Dhabi Aviation to open trading for foreigners
Abu Dhabi – Mubasher: Abu Dhabi Aviation Company, listed on the Abu Dhabi Securities Exchange (ADX), on Thursday requested to open the trading on its shares for foreigners by a percentage not exceeding 30% of the share capital. The company further …
Markets Regulations
Al Ain Municipality plans to launch infrastructure development projects
15 January 05:56 PM Musanada builds AED 119m rainwater disposal project in Al Ain
Abu Dhabi – Mubasher: Abu Dhabi General Services Company (Musanada) has completed 17% of Al Ain rainwater disposal project being built at a total value of AED 119.3 million, in cooperation with Al Ain City Municipality, Emirates News Agency (WAM) …
Companies Investments
The report surveyed over 100 experts from 60 governmental and private bodies
15 January 05:20 PM UAE to save AED 11bn on adopting blockchain technology
UAE – Mubasher: The UAE is expected to save more than $3 billion (AED 11 billion) through adopting blockchain technologies, according to a report produced by the Fourth Industrial Revolution UAE (C4IR UA) in collaboration with the World Economic …
Macroeconomics
Iron prices have dropped by EGP 300 per tonne since the beginning of the week
15 January 03:28 PM Iron prices to further decline as EGP levels up
By: Abdullah Bedeir Cairo – Mubasher: Iron prices are expected to further decline in the coming period, Ahmed El-Zeiny, the head of chamber of building materials at the Federation of Egyptian Chambers of Commerce (FEDCOC) told Mubasher. With the …
Commodities
UAE's finance ministry taking part in Asian Financial Forum in Hong Kong
15 January 02:20 PM UAE-Hong Kong foreign trade valued $9.76bn in 2018
UAE – Mubasher: The total value of foreign trade between the UAE and Hong Kong reached $9.76 billion in 2018. The foreign trade between the two countries included nearly $3.47 billion imports, $539.3 million non-oil exports, and $5.75 billion …
The shipment reflects the success of KNPC’s international marketing sector
15 January 02:07 PM KNPC exports first low-sulfur diesel shipment
Mubasher: Kuwait National Petroleum Company (KNPC) announced that the first shipment of low-sulfur diesel (ULSD 10ppm) has been exported through Mina Abdullah refinery to global markets after fulfilling al requirements. The exported 40,000-tonne …
Companies Investments
Tabreed currently provides over 1.16 million tonnes of cooling output
15 January 12:37 PM Tabreed sets up new energy services company
Dubai – Mubasher: The National Central Cooling Company (Tabreed) announced the launch of a new energy services company to offer a comprehensive range of power solutions to buildings. The new firm, which begins its operations in 2020, will ensure …
Companies Investments
The new initiative may spur the growth of the local energy services
15 January 11:58 AM ADPower sets up new energy service firm
UAE – Mubasher: Abu Dhabi Power Corporation (ADPower) on Wednesday announced the launch of Abu Dhabi Energy Services Company (ADES) as part of ADPower's portfolio of companies, with the aim to strengthen the transformation of the water and …
Macroeconomics
Construction on the project is expected to commence soon
15 January 11:00 AM Masdar, PLN to develop first floating solar plant in Indonesia
UAE – Mubasher: Masdar, a subsidiary of Mubadala Investment Company and one of the world’s top renewable energy companies, has collaborated in a power purchase agreement (PPA) with Perusahaan Listrik Negara (PLN) to develop Indonesia's first …
International Agreements
Part of the signing ceremony of a contract
14 January 11:07 PM UAE energy ministry inks 3 contracts at WFES
UAE – Mubasher: The UAE’s Ministry of Energy and Industry (MOEI) on Tuesday signed three contracts during the World Future Energy Summit (WFES) which is held on 13-16 January 2020 in Abu Dhabi, the ministry posted on Twitter. The Emirati energy …
Macroeconomics
UAE’s imports from Brazil hit $2.21bn last year
14 January 06:37 PM Brazil exports $12.2bn worth of goods to Arabs in 2019
Mubasher: Brazilian exports to the Arab world grew 6.3% year-on-year to $12.197 billion in 2019, according to data released on Tuesday by the Arab-Brazilian Chamber of Commerce (ABCC). The value of the UAE’s imports from Brazil hit $2.21 billion …
Macroeconomics
The Executive Council of Dubai has launched the Dubai Future District
14 January 06:00 PM Dubai Council launches AED 1bn fund for new-economy companies
Dubai – Mubasher: Dubai is set to launch a new stock market and a AED 1 billion fund to support new-economy companies, which have the potential to boost the emirate's future growth, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, crown prince of …
Macroeconomics
OPEC countries may maintain supply and demand for five years
14 January 04:21 PM UAE to raise oil exports to 5m barrels by 2030 – Minister
UAE – Mubasher: The UAE plans to increase its export capacity of oil to 5 million barrels by 2030, the UAE minister of energy and industry, Suhail Al Mazrouei, disclosed to CNBC Arabia on Tuesday. He further expected the OPEC countries to maintain …
Macroeconomics
Top officials from Gulf Capital & IVI-RMA Middle East
14 January 12:48 PM Gulf Capital unveils growth plans following $100m IVI-RMA Mideast acquisition
UAE – Mubasher:  Gulf Capital, one of the Middle East’s largest alternative asset managers, on Tuesday announced growth plans for a three-year period regarding IVI-RMA Middle East, the fastest-growing fertility treatment services provider in the …
Companies Investments
The EGP exchange rate climbed to EGP 15.86 for buying
14 January 11:39 AM Egyptian banks receive $1.7bn foreign cash inflows in 4 days
Cairo – Mubasher: foreign cash inflows into banks operating in Egypt reached $1.7 billion in just four days ending on Monday, 13 January, according to a statement by the Central Bank of Egypt (CBE). Such inflows have helped push the Egyptian pound …
Central Banks
The collaboration will come into effect immediately
14 January 11:33 AM Etihad, easyJet conclude new partnership
UAE – Mubasher: The UAE’s national airline, Etihad Airways, has partnered with easyJet, one of the largest airlines across the world, to allow customers purchase tickets through the easyJet worldwide website which connects the two airlines’ …
Companies Investments
Top-tier officials from the UAE & Japan during the signing ceremony
14 January 10:07 AM UAE signs strategic energy cooperation deal with Japan
UAE – Mubasher: The Abu Dhabi Supreme Petroleum Council, represented by Abu Dhabi National Oil Company (ADNOC), and the Agency for Natural Resources and Energy of Japan, have concluded a three-year strategic energy cooperation agreement, Emirates …