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2 December 02:43 PM ADQ, TAQA ink agreement to explore energy opportunities in Kazakhstan
Abu Dhabi – Mubasher: ADQ and Abu Dhabi National Energy Company (TAQA) have entered into a long-term strategic agreement with Samruk-Kazyna, a sovereign wealth fund, to explore opportunities in the energy sector in Kazakhstan. Under the …
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30 November 04:58 PM GFH acquires $200m medical offices in US
Mubasher: GFH Financial Group has purchased a portfolio of medical offices in the US in exchange for around $200 million, as part of the company's plan to build a portfolio of stabilised assets. With 11 assets, the medical portfolio spreads across …
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29 November 12:22 PM Response Plus Holding acquires Health Tech for AED 10m
Abu Dhabi - Mubasher: Response Plus Holding has acquired the UAE-based Health Tech Training in exchange for AED 9.8 million, as part of the company's plan to include all aspects of healthcare services. The acquisition will enable Response Plus …
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29 November 09:38 AM IHC's Multiply Group to be listed on ADX main market
Abu Dhabi – Mubasher: Multiply Group, a subsidiary of International Holdings Company (IHC), will be listed on the main market of the Abu Dhabi Securities Exchange (ADX), effective 5 December 2021. With AED 8.16 billion assets, the investment …
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28 November 10:06 AM Maple Invest acquires 15.6% of Damac's share capital
Dubai – Mubasher: Maple Invest Co has acquired 15.6% of the issued and paid-up share capital in Damac Properties during the offer period by purchasing 943.9 million shares in Damac at a price of AED 1.4 per share. Damac has received from Maple …
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28 November 09:38 AM Julphar logs AED 183m accumulated losses
Abu Dhabi – Mubasher: Gulf Pharmaceutical Industries (Julphar) has incurred accumulated losses of AED 183.1 million as of the third quarter (Q3) of 2021, representing 16% of the capital. The losses are driven by the temporary suspension of export …
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25 November 03:52 PM ADCB completes sale of 20% stake in Egypt's Orient Takaful
Abu Dhabi - Mubasher: Abu Dhabi Commercial Bank (ADCB) has completed the sale of its 20% stake in Egypt-based Orient Takaful to Orient Insurance Company. To have a negligible impact on profitability, the transaction is in line with the bank’s …
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25 November 02:59 PM Yahsat partners with Ericsson to offer connectivity services
Abu Dhabi - Mubasher: Al Yah Satellite Communications Company (Yahsat) has partnered with Nasdaq-listed Ericsson to offer private network, data, and internet connectivity services across the oil and gas, mining, and ports industries. Under the …
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24 November 06:20 PM Lucky Egypt collaborates with FAB, Visa for new service
Cairo – Mubasher: Offers platform Lucky Egypt has signed a tripartite cooperation protocol with First Abu Dhabi Bank and Visa to launch FAB - Lucky Visa Platinum Credit Card, marking the first-of-kind tripartite partnership in the Egyptian digital …
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24 November 04:31 PM ADNOC Distribution to supply Voyager lubricant in Angola, Congo
Abu Dhabi – Mubasher: Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) has signed two new contracts to distribute ADNOC Voyager lubricant in Angola and the Democratic Republic of the Congo. Under the contracts, the company will …
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24 November 01:42 PM Bildco logs AED 275m accumulated losses
Abu Dhabi – Mubasher: Abu Dhabi National Company for Building Materials (Bildco) has incurred accumulated losses of AED 275.155 million as of 30 September 2021, representing 91.72% of the company's capital. The accumulated losses are driven by the …
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24 November 10:51 AM Shuaa Capital in talks with stock exchanges to list subsidiaries
Dubai – Mubasher: Shuaa Capital is holding discussions with various stock exchanges to list one or more of its subsidiaries through an initial public offering (IPO). Shuaa has commented on the news reporting that the company seeks to launch an IPO …
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24 November 10:29 AM IHC's unit acquires 70% stake in WFC Holding
Abu Dhabi – Mubasher: Emirates Stallions Group (ESG), a subsidiary of International Holdings Company (IHC), has acquired a 70% stake in WFC Holding, a UAE-based technology, data-driven, and outsourcing company. WFC Holding is specialised in …
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24 November 10:05 AM Fertiglobe’s consortium selects Plug Power to deliver electrolyzer for green hydrogen
Abu Dhabi - Mubasher: Fertiglobe and its partners of Scatec ASA, the Sovereign Fund of Egypt, and Orascom Construction have selected Nasdaq-listed Plug Power to deliver a 100 megawatts (MW) electrolyzer for the production of green hydrogen. The …
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24 November 09:41 AM Egypt's FRA approves Aldar-ADQ consortium's MTO to acquire SODIC
Mubasher: The Egyptian Financial Regulatory Authority (FRA) has approved a mandatory tender offer (MTO) submitted by a consortium of Aldar Properties and ADQ to acquire up to 90% and a minimum of 51% of the outstanding share capital of Six of …
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23 November 10:30 AM Shuaa Capital eyes IPOs for two subsidiaries
Dubai – Mubasher: Shuaa Capital is considering an initial public offering (IPO) for two subsidiaries on the Dubai Financial Market (DFM) early next year, sources told Bloomberg. The sources announced that the company is holding talks with the DFM …
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23 November 09:50 AM ADQ, Alpha Dhabi enter into strategic alliance to invest $375m in OCI Methanol
Abu Dhabi - Mubasher: ADQ and Alpha Dhabi Holding have entered into a strategic alliance with the Netherlands-based OCI N.V. to invest $375 million in the OCI Methanol Group. OCI N.V. will place a 15% stake in the OCI Methanol group, which will …
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22 November 11:58 AM Yahsat's unit partners with Cobham to distribute broadband products
Abu Dhabi - Mubasher: Thuraya Telecommunications Company, a subsidiary of Al Yah Satellite Communications Company (Yahsat), has signed a long-term agreement with Cobham SATCOM (Cobham) to distribute next-generation broadband products. For a …
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22 November 09:37 AM Union Properties records lower profits in 9M
Dubai – Mubasher: Union Properties reported a decline in net profits to AED 1.369 million during the first nine months of 2021, compared to AED 348.779 million in the year-ago period, according to the company's unaudited consolidated financials …
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21 November 06:37 PM ADIB Egypt sees sale, purchase of EGP 40.5m equity
Cairo – Mubasher: Emirates International Investments – Egypt has exited its 1.5% equity ownership in Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) on 21 November. The company sold 3 million shares in the bank for an average sale price of EGP 13.5 …
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21 November 04:03 PM Al Mal Capital REIT acquires educational assets for AED 300m
Dubai - Mubasher: Al Mal Capital REIT, the first REIT listed on the Dubai Financial Market (DFM) and a subsidiary of Dubai Investments, has acquired two school campuses of Al Shola Private Schools in Ajman in exchange for AED 300 million. The two …
The ratings are driven by a strong capital base
21 November 01:55 PM Capital Intelligence affirms Finance House's ratings; outlook stable
Abu Dhabi – Mubasher: Capital Intelligence (CI) has affirmed Finance House's short-term and long-term foreign currency rating (STFCR) at 'A3' and 'BBB-', with a stable outlook. The ratings are driven by a strong capital base and satisfactory …
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21 November 11:38 AM Yahsat to be added to FTSE UAE Small Cap Index
Abu Dhabi - Mubasher: Al Yah Satellite Communications Company (Yahsat) will join the FTSE UAE Small Cap Index effective on 20 December 2021. As part of its inclusion in the index, Yahsat will also be added to several indices, including the FTSE …
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21 November 09:34 AM SCA approves Emaar's capital raise, Emaar Malls' delisting ahead of merger
Dubai – Mubasher: The Securities & Commodities Authority  (SCA) has approved the delisting of Emaar Malls from the Dubai Financial Market (DFM) and the capital increase of Emaar Properties to prepare for the merger. As a result of the merger, …
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18 November 04:45 PM Amanat allocates AED 1.5bn for acquisitions in 2022
Dubai – Mubasher: Amanat Holdings has allocated at least AED 1.5 billion ($408 million) for acquisitions in the healthcare and education sectors across different markets in 2022, the company's CEO, Mohamad Hamade, told Bloomberg TV. Hamade added …