Local Economy

Cairo – Mubasher: Egypt’s Prime Minister, Mostafa Madbouly, has witnessed the signing ceremony of financial closure agreements between UAE’s AMEA Power and a number of international financing institutions at $1.10 billion. AMEA Power will …

Abu Dhabi - Mubasher: His Highness Theyab bin Mohamed bin Zayed Al Nahyan witnessed the signing of the terms sheet for a strategic partnership for sustainable transportation between Etihad Rail and Borouge to transport 1.30 million tonnes of …

Dubai – Mubasher: ZāZEN Properties will launch sales for its newest project, ZāZEN Gardens, next week. High demand for off-plan real estate projects spurred 130% growth in Dubai’s preconstruction segment over this year's first half (H1). …

Dubai - Mubasher: Robust investment flows to the UAE are expected in the coming years thanks to the country’s consistent strong economic performance, steady growth, and ambitious development plans in the next 50 years, says Al Tamimi Investments. …

Mubasher: Dubai-based Bioventure, Minapharm Pharmaceuticals, and MiGenTra GmbH have signed an exclusive licence agreement for the commercialisation of multiple biosimilar candidates developed and manufactured by Alvotech, in Egypt and eighteen …

Dubai - Mubasher: Dubai’s leading and award-winning design-led boutique developer, Ellington Properties, has awarded Al Ashram Contracting the AED 112 million contract to start developing the Ellington House. With more than four decades of …

Mubasher: The Arab Brazilian Chamber of Commerce (ABCC) has announced an annual increase of 25.71% in Brazilian exports to the Arab countries during the first ten months (10M) of 2022 at $14.47 billion from $11.51 billion. Brazilian exports to the …

Mubasher: Saudi Arabia has become the first GCC country to chair the United Nations World Tourism Organization (UNWTO) Executive Council. The election took place at the UNWTO’s 117th Executive Council meeting in Marrakesh, Morocco. The move …

Dubai – Mubasher: Marriott International has signed a deal with RDK Tourism Investment to open four properties in the UAE. The signings are predicted to further enhance the company’s footprint in Abu Dhabi and Dubai with the addition of more than …

Dubai - Mubasher: DMCC announced a partnership with Comtech Gold to digitise the trading of gold by tokenising the precious metal backed by physical gold bars registered on DMCC Tradeflow. DMCC Tradeflow is an online platform for registering the …

Dubai - Mubasher: SirajPower announced a partnership with master developer Nakheel to deliver nine projects across the UAE. SirajPower offers a commercial solar leasing solution for residential and retail markets, which enables large-scale …

Dubai - Mubasher: Dubai Financial Market (DFM) has launched its new general index culminating the successful accomplishment of a comprehensive transformation of its indices’ methodology. The developed indices provide various market participants …

Cairo – Mubasher: Egypt's Minister of Planning, Hala El-said, witnessed the signing of a number of agreements and cooperation protocols between the Sovereign Fund of Egypt (TSFE) and a number of developers worth $83 billion in the renewable energy …

Dubai - Mubasher: Metaverse represents a major new market for telcos with early estimates of the overall size of the metaverse opportunity to be around $13 trillion by 2030, according to a report by Arthur D. Little (ADL).   Ericsson for example …

Cairo – Mubasher: The Saudi Minister of Energy, Prince Abdulaziz bin Salman, announced the inauguration of three new projects to enhance the kingdom’s national and regional climate action.  The minister's remarks were made during the second day of …

UAE – Mubasher: Abu Dhabi Airports plans to set up advanced biometric technology, which provides a touchless boarding experience that uses a passenger’s facial features as their passport, according to a recent press release. The passengers …

Riyadh - Mubasher: Almosafer and Visit Oman have signed a partnership agreement at World Travel Market to boost leisure tourism to Oman from Saudi Arabia, Kuwait, and the UAE.   Under the agreement, Almosafer’s consumer business will run a 360 …

Riyadh – Mubasher: The Capital Market Authority (CMA) approved some 116 capital increase requests by listed companies from January 2018 to the end of the first half (H1) of 2022, with a value surpassing SAR 100 billion. This reflects CMA's role in …

Cairo – Mubasher: Rania El-Mashat, Egypt’s Minister of International Cooperation, has been selected to be part of the Global Leaders' Council of the United Nations Initiative (Generation Unlimited). Kevin Frey, Executive Director of the Generation …

Cairo - Mubasher: Fertiglobe, the strategic partnership between ADNOC and OCI, announced the start of the commissioning of the first phase of the green hydrogen plant in Egypt's Ain Sokhna, during an event at COP27.  The event was attended by …

Cairo – Mubasher: ACWA Power Company signed a memorandum of understanding (MoU) with Oman Investment Authority (OIA) to explore bringing the sovereign wealth fund on as an investor for the 1.1GW Suez wind energy project in Egypt.  According to the …

Abu Dhabi – Mubasher: The Middle East, Africa & Asia Crypto & Blockchain Association (MEAACBA) has launched its business in Abu Dhabi, a pivotal step forward in the development of accessible, transparent, and compliant crypto-blockchain …

Dubai – Mubasher: DP World plans to invest up to $500 million to cut CO2 emissions from its operations by nearly 700,000 tonnes over the next five years, Emirates News Agency (WAM) cited the company’s Chairman and Group CEO, Sultan Ahmed bin …