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Dubai Health Authority (DHA)
13 June 04:29 PM Dubai says 80% of new COVID-19 cases were unvaccinated
UAE – Mubasher: The Dubai Health Authority (DHA) has revealed that vaccines against the coronavirus (COVID-19) reduce the risk of disease and hospitalization. The health authority has called upon everyone to get the vaccine, noting that eight out …
Tabuk will hold the marketing authorisation for the COVID-19 vaccine
13 June 01:11 PM Astra Industrial’s unit partners with Moderna to commercialise vaccine
Riyadh – Mubasher: Astra Industrial Group said its subsidiary Tabuk Pharmaceutical Manufacturing Company has signed a contract with Moderna to commercialise the latter’s COVID-19 vaccine and future variant-specific booster candidates in Saudi …
Takaful premiums have increased at a compound annual rate of 6.8%
10 June 02:36 PM Islamic insurance growth to remain healthy in GCC – Moody's
Mubasher: Islamic insurance, Takaful, premiums are expected to grow moderately over the coming two to three years as more GCC, Southeast Asian, and African countries introduce compulsory health cover, according to Moody's Investors Service. Growth …
PIF’s investment comes in advance of the ASIIP’s anticipated first closing
10 June 01:47 PM Saudi PIF invests in Investcorp-Aberdeen regional infrastructure fund
Mubasher: Saudi Arabia’s Public Investment Fund (PIF) has committed up to 20% of the total size of ASIIP infrastructure fund, the joint venture between Bahrain-based Investcorp and Aberdeen Standard Investments. PIF’s investment comes in advance …
10 June 12:04 PM Net interest income represents 60% of banks’ revenues – Moody’s
The project will be the largest private solar plant in Bahrain
9 June 02:14 PM Majid Al Futtaim partners with Yellow Door Energy to develop solar plant at Bahrain Mall
UAE - Mubasher: Majid Al Futtaim has entered into a 6.2 megawatt-peak solar power purchase agreement (PPA) with Yellow Door Energy, a solar developer for commercial and industrial businesses, to provide clean energy to The Bahrain Mall, operated …
The school is inspected by the British Government
8 June 01:58 PM GFH's education platform acquires British school in Tunisia
Mubasher: Britus Education, the wholly-owned education investment platform of GFH Financial Group, has acquired The British International School of Tunis (BIST) to expand the company's presence in Tunisia. Under the transaction, Britus Education …
The sale is expected to have a positive impact on Shuaa's Q2 financials
7 June 09:38 AM Shuaa Capital, Goldilocks Fund sell stake in Khaleeji Commercial Bank
Dubai – Mubasher: Shuaa Capital has sold its 3.8% stake in Khaleeji Commercial Bank (KHCB), totaling 34.648 million shares, to GFH Financial Group. The sale, expected to have a positive impact on Shuaa's second quarter (Q2) financials, is part of …
Bahraini banks made the largest reduction in cash dividends at 72.4%
6 June 03:18 PM Bahrain leads GCC banks in 2020 dividend cuts – Report
Mubasher: Banks across the Gulf area slashed cash dividends for 2020 by 45.4% or $6.6 billion to $8 billion compared to $14.6 billion in 2019, as a result of the effect of the COVID-19 pandemic, according to a recent report by Kamco Invest. The …
The UAE has followed the Kingdom with 20 companies
6 June 10:05 AM Saudi Arabia, UAE lead Forbes Middle East's top 100 listed companies for 2021
Mubasher: Saudi Arabia and the UAE have dominated Forbes Middle East's annual ranking of the top 100 listed companies for 2021, with 37 and 20 companies, respectively. Saudi Arabia has had the most companies on the list, topped by Saudi Arabian …
The Kingdom registered a trade surplus with 18 Arab countries
1 June 11:31 AM Saudi Arabia records 22% higher trade surplus with Arab countries
Riyadh – Mubasher: Saudi Arabia's trade surplus with the Arab countries increased by 21.8% to SAR 16.88 billion ($4.5 billion) during the first quarter (Q1) of 2021, compared to SAR 13.86 billion ($3.7 billion) in the year-ago period. The Kingdom …
Roberto Croci, Microsoft for Startups MEA’s Managing Director
27 May 01:03 PM Startup Lounge: Pandemic enabled tech solutions for business continuity - Roberto Croci
By: Ingy ElSafy Mubasher: The technology sector is playing a major role in carving out space for startups to grow and scale their business. One example is Microsoft, which has a programme dedicated to startups. Here in Startup Lounge, Mubasher …
Online penetration in the Middle East is expected to double to 6% by 2024
25 May 01:52 PM UAE, Saudi Arabia lead e-commerce market in Middle East
Mubasher: The UAE and Saudi Arabia have topped the e-commerce growth in the Middle East, both accounting for 75% of the total e-commerce sales in 2020, according to EZDubai’s ‘E-Commerce Sector in the UAE 2020 insights’ report. The two GCC markets …
Nearly 65% of the MENA consumers would make healthier choices
25 May 12:55 PM Affordability seen critical factor for most MENA consumers
Mubasher: Affordability remains a critical factor for most consumers in the Middle East and North Africa (MENA), besides the overall brand experience, EY MENA Consumer Industry Leader, Ahmed Reda, said. “Brands that keep these factors in mind will …
The total value of the awarded tenders increased 23% YoY
23 May 05:22 PM Bahrain awards $1.6bn tenders in Q1
Mubasher: Bahrain awarded $1.6 billion (BHD 607 million) worth of government contracts during the first quarter (Q1) of 2021, according to official data. The total value of the awarded tenders increased 23% year-on-year (YoY) from $1.3 billion …
The conditions do not apply to those vaccinated with a single dose
17 May 05:24 PM Saudi Arabia allows travelling to Bahrain upon terms
Riyadh – Mubasher: Saudi citizens will be allowed to travel to Bahrain if they are older than 18 years old and their health status on the Tawakkalna application is either immunised, completely vaccinated against COVID-19, or recovered. The …
The company's total income decreased to $111.949 million
17 May 09:34 AM Ithmaar Holding turns to profitability in Q1-21
Mubasher: Bahrain-based Ithmaar Holding reported net profits attributable to the equity holders of $8.861 million during the first quarter (Q1) of 2021, against net losses of $22.584 million in the year-ago period, according to the company's …
The bank's total assets rose by 3.6%
16 May 04:31 PM Al Salam Bank – Bahrain sees 144% higher profits in Q1-21
Mubasher: The net profits attributable to the shareholders of Al Salam Bank – Bahrain jumped by 144% to BHD 6.087 million ($16.15 million) during the first quarter (Q1) of 2021 from BHD 2.512 million ($6.7 million) in the year-ago period, …
13 May 04:33 PM Google awarded cloud deal from Elon Musk’s SpaceX
Google Cloud has been awarded a cloud deal to provide computing and networking resources to SpaceX.
13 May 02:57 PM Samsung Electronics to raise logic chip investments to $151bn
Samsung Electronics will raise its investments in logic chip businesses to KRW 171 trillion through 2030.
Plastic waste often impact marine life, ecosystems, and food chains
30 April 03:46 PM Egypt could soon ban single-use plastics amid COVID-19
By: Moslem Ali Cairo – Mubasher: Plastic bags that are often used for an average of 25 minutes could take more than 20 years to decompose, while other single-use plastic products, according to the World Wildlife Fund (WWF), might need between 400 …
Noor Sweid, Founder and General Partner, Global Ventures
29 April 12:57 PM Startup Lounge: Health, edutech investments to flourish after pandemic – Noor Sweid
By: Ingy ElSafy Mubasher: The Middle East carries plenty of appeal for regional and international investors due to the favourable macroeconomic fundamentals that underpin these markets. Meanwhile, the sectors that have witnessed increased …
Egypt's Minister of International Cooperation, Rania El-Mashat
26 April 01:41 PM Egypt to build greener more inclusive economy after COVID - Rania El-Mashat
By: Moslem Ali and Ahmed Allam Cairo – Mubasher: Egypt was the only country in the region to achieve positive economic growth last year, despite the coronavirus (COVID-19) pandemic. Now, the country aims at taking the recovery as a chance to …
Committed gas investments will likely plunge by $9.5 billion
4 May 02:39 PM MENA energy investments likely to surpass $805bn by 2025
Mubasher: Total planned and committed investments in MENA’s energy sector are expected to exceed $805 billion over the coming five years, the Arab Petroleum Investments Corporation (APICORP) said. This will mark an increase of $13 billion from the …
UN in 2015 led its member states to adopt the 2030 Agenda for Sustainable Development
22 April 12:06 PM Are MENA countries on track with achieving SDGs?
By: Ingy ElSafy Mubasher: The United Nations (UN) led its member states in 2015 to adopt the 2030 Agenda with 17 Sustainable Development Goals (SDGs) that include 169 specific targets, covering social, economic, and environmental dimensions, in …