Tawasul
Mubasher TV
Contact Us Advertising   العربية

Local Economy

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 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 …
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 …
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 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 …
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 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 …
The authority has also approved an agreement with the French Institute for IRSN
12 October 10:12 AM FANR authorises Nawah to possess, transfer nuclear material for Barakah Plant's Unit 3
UAE - Mubasher: The board management of the UAE’s Federal Authority for Nuclear Regulation (FANR) has granted Nawah Energy Company a licence to possess, handle, store, and transfer nuclear material for Unit 3 of the Barakah Nuclear Power Plant. …
The whitepaper is based on a survey of 200 business leaders
11 October 01:16 PM UAE accounts for 88% of GCC's $1.2bn investments in Sub-Sahara Africa
UAE - Mubasher: The UAE has represented 88% of the GCC's $1.2 billion investments in Sub-Sahara Africa between January 2016 to July 2021, as shown by a newly released whitepaper issued by The Economist Intelligence Unit (EIU) and commissioned by …
The September index went down when compared to 53.3 in August
11 October 11:04 AM Dubai non-oil economy's growth softens in September - IHS Markit
UAE - Mubasher: The adjusted IHS Markit Dubai Purchasing Managers' Index (PMI) recorded 51.5 in September, showing the continuous growth in Dubai's non-oil economy for the tenth month in a row. The September index went down when compared to 53.3 …
Dubai has recorded the third-highest level of business confidence
10 October 04:28 PM Dubai business confidence jumps to third-highest level in 10 yrs amid Expo 2020
UAE - Mubasher: Dubai has recorded the third-highest level of business confidence in ten years because of the positive impact of Expo 2020 Dubai, as shown by a new survey from Dubai Chamber. The quarterly business leaders’ outlook survey has …
The portfolio was announced on the sidelines of the Dubai International PPP Conference
10 October 12:00 PM Dubai announces AED 25bn public-private joint projects
UAE - Mubasher: The Dubai Government has announced a diversified portfolio of public-private joint projects worth AED 25 billion, the Dubai media office reported. This announcement was made on the sidelines of the Dubai International …
The ratings reflect ADNIC's underlying financial strength
10 October 09:57 AM AM Best assigns ADNIC 'A' ratings; outlook stable
Abu Dhabi – Mubasher: AM Best has assigned Abu Dhabi National Insurance Company (ADNIC) a financial strength rating of 'A' and a long-term issuer credit rating of 'a', with a stable outlook. The ratings reflect ADNIC's underlying financial …
The UAE Ministry of Finance sold $1 billion in the 10-year tranche
7 October 09:06 AM UAE federal government secures $4bn in first US dollar bond sale debut
UAE - Mubasher: The UAE federal government has secured $4 billion in its first multi-tranche US dollar-denominated bond sale debut, according to bank documents as cited by Reuters. The UAE government has raised that amount after the orders for the …
The updated ratings reflect the group’s sound liquidity
7 October 08:43 AM CI upgrades GFH's corporate ratings; outlook stable
Dubai – Mubasher: Capital Intelligence Ratings has upgraded the long-term and short-term corporate ratings of GFH Financial Group at 'BB-' and 'B', respectively, with a stable outlook. The updated ratings reflect the group’s sound liquidity, …
Lending in all other activities decreased 1.9% YoY
6 October 02:22 PM UAE banks' loans to MSMEs record AED 94.6bn in Q2-21
UAE - Mubasher: The UAE banks' loans to micro, small, and medium enterprises (MSMEs) rose by 2.3% to AED 94.6 billion during the second quarter (Q2) of 2021, compared to the year-ago period. The mining and quarrying sector has recorded the highest …
Jafza has represented 23.9% of total foreign investments
6 October 12:52 PM DP World’s Jafza sees 40% higher new customer registrations in H1-21
UAE - Mubasher: DP World’s Jebel Ali Free Zone (Jafza) has recorded around 40% year-on-year (YoY) growth in new customer registrations during the first half (H1) of 2021, raising the total number of companies in Jafza to more than 8,700. The …
The fund will offer applicants up to $100,000 per pilot
6 October 12:15 PM UAE launches Moonshot Pilot Grant to improve public sector initiatives
UAE - Mubasher: The UAE government has introduced the "Moonshot Pilot Grant", a new public sector innovation fund, to help develop and implement innovative ideas and projects to improve public sector initiatives. The fund will offer applicants up …
The 40-year bonds will be Formosa
6 October 09:44 AM UAE federal government starts marketing first US dollar bonds
UAE - Mubasher: The UAE federal government has started selling US dollar-denominated bonds with 10, 20, and 40-year tranches for the first time as a federation, according to a document as cited by Reuters. The UAE has set the initial price …
The ADGM RA and SCA will promote regulatory and supervisory cooperation
5 October 04:36 PM SCA, ADGM ink MoU to enable registered entities to list shares on UAE markets
UAE - Mubasher: The Securities and Commodities Authority (SCA) and the Registration Authority (RA) of Abu Dhabi Global Market (ADGM) have entered into a Memorandum of Understanding (MoU) to support ADGM registered entities in offering and listing …
The first stage of the project is scheduled to start operations in late 2024
5 October 03:21 PM Orascom-Hitachi consortium inks deal to connect power grids in Egypt, Saudi Arabia
Cairo – Mubasher: A consortium comprised of Orascom Construction Plc, listed on the Egyptian Exchange (EGX) and Nasdaq Dubai, and Hitachi ABB Power Grids signed a contract with the Egyptian Electricity Transmission Company (EETC) to implement all …
The mission will study seven main belt asteroids
5 October 01:46 PM UAE Space Agency announces new Emirati interplanetary mission
UAE - Mubasher: The UAE Space Agency has announced a new Emirati interplanetary mission to explore the asteroid belt between Mars and Jupiter, the source of most meteorites that impact the earth. Set to be launched in 2028, the new mission will be …