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05 June 04:06 PM

Top News

Wizz Air flew 40 million passengers to 151 airports
4 June 01:18 PM Wizz Air to have 100 aircraft serving GCC by 2035
Mubasher: Wizz Air seeks to own 100 aircrafts serving across the GCC markets by 2035, announced Wizz Air CEO, Joszef Varadi. Varadi made the announcement in an interview with the aviation industry consultant John Strickland during the ATM Virtual …
Companies Investments
3 June 05:30 PM Saudi Arabia, Russia near agreement to extend oil output cut
Saudi Arabia and Russia have reportedly agreed on a preliminary deal to extend the current crude oil output curbs for another month.
Global Reports
Dubai Financial Market
3 June 11:04 AM GFH reveals market making activity for May
Mubasher: GFH Financial Group announced the market making transactions conducted by its market maker, Securities and Investment Company (SICO), during May 2020 in Bahrain Bourse and the Dubai Financial Market (DFM). In Bahrain Bourse, the company …
Trading Activities
KPMG - Saudi Arabia
2 June 04:53 PM M&A deals in GCC expected to grow amidst COVID-19 – Report
Riyadh – Mubasher: A recent report by KPMG is expecting merger and acquisition (M&A) deals in Saudi Arabia and other Arabian Gulf countries to increase amid the coronavirus disease (COVID-19) pandemic. With many small and medium-sized enterprises …
Sector Reports
Women currently outnumber men at universities in 15 Arab countries
2 June 04:44 PM Women's wealth in Middle East at $786bn with further growth expected
Mubasher: Women currently represent 13% of the Middle East wealth segment, with dramatic growth to be seen in the region during the coming years, according to a recent report by the Boston Consulting Group (BCG). Women's wealth in the Middle East …
Global Economy
Emirates airline resumed flights to nine cities
2 June 09:43 AM Emirates resumes flights to 8 countries
UAE - Mubasher: Emirates airline has announced the resumption of scheduled passenger flights to nine cities in eight countries during May, the Dubai-based carrier announced on its official Facebook account. Emirates hopes that flights to more …
Global Economy
The GCC is forecast to witness an economic recovery
1 June 04:38 PM Gulf states GDP expected to contract by 5.9% in 2020
Mubasher: The gross domestic product (GDP) of the Arabian Gulf countries is expected to retract by 5.9% in 2020 when compared to 2019, as the world economy is suffering from the consequence of the coronavirus (COVID-19) pandemic. Fiscal deficit in …
Global Economy
Investcorp Credit Management aims to manage a diversified portfolio
1 June 03:13 PM Investcorp closes Mount Row credit fund at EUR 318m
Mubasher: The Credit Management business of Investcorp has held the final close of the Mount Row Credit Fund with capital commitments of EUR 318 million ($353.4 million). The fund has exceeded its original target of raising EUR 300 million, …
Companies Investments
Emirates Airline is set to lay off some employees amid the COVID-19 crisis
1 June 03:01 PM Emirates foresees recovery of airline industry by June 2021
Dubai - Mubasher: Emirates airline President, Tim Clark, expects the airline industry to see a recovery as of June of next year, after being affected by the coronavirus (COVID-19) pandemic, according to Zawya. Clark made the announcement …
Global Economy
Italian NPL Fund II invests in mortgage-backed non-performing loans
27 May 11:22 AM Investcorp closes EUR 340m investment in Italian NPL Fund II
Mubasher: Investcorp, listed on Bahrain Bourse, on Wednesday the final closure of about EUR 340 million in commitments for its second vintage Italian Distressed Loan Fund II (Italian NPL Fund II), advised by the Italian financial advisory company …
Companies Investments
The judgments will be enforced on Haigh’s assets in the UK and the UAE
27 May 10:47 AM GFH wins judgment against former employee
Dubai – Mubasher: GFH Financial Group announced that it has won a judgment issued by the High Court of England and Wales against the former employee David Haigh. This judgement confirms the previous one issued by the Dubai International Financial …
Corruption
Saudi Aramco is currently the most profitable company worldwide
26 May 11:02 AM World's top 2,000 list includes 40 Arab companies; Aramco ranked 5th
By: Amal A. Wahaab Mubasher: This year's Forbes Global 2000 list saw the inclusion of 40 companies from the Arab world in the magazine's ranking of the world's top 2,000 companies, based on assets, profits, revenues, and market value.  Oil giant …
Global Economy
Hotels in five governorates could reopen after receiving the safety certificate
24 May 11:13 AM Egypt grants health safety certificates to over 70 hotels
Cairo - Mubasher: More than 70 hotels in Egypt last week have received the health safety certificate, which is necessary for resuming their operations, according to Egypt’s tourism and antiquities minister. Receiving the certificate came after …
Macroeconomics
HMM Algeciras containership's length is around 400 metres
24 May 10:29 AM World's largest container to cross Egypt's Suez Canal
Cairo - Mubasher: The Suez Canal will receive South Korea's HMM Algeciras, the world's largest containership, the Egyptian Ministry of Transport announced in a recent statement. The 24,000-TEU-class vessel will pass through the canal as after …
Global Economy
(Photo Credit: cafecredit)
21 May 11:39 AM GCC sees growing trend for fintech platforms amid COVID-19 crisis
Mubasher: The GCC region is set for a big leap in the use of financial technology applications amid the coronavirus (COVID-19) outbreak with the Middle East and Africa (MEA) region witnessing a 70% growth in the use of contactless payments, …
Macroeconomics
Disinfection gates pose health risks to people
21 May 11:26 AM Disinfection gates proving ineffective against coronavirus
Mubasher: Sterilisation gates and rooms placed at the entrance of public places have not proven their effectiveness in curbing the spread of the highly contagious coronavirus (COVID-19), assistant secretary at the Kuwaiti Ministry of Health, …
Global Economy
The new solution provides accurate diagnostic results
21 May 09:47 AM Kuwaiti researchers develop new COVID-19 PCR test
Mubasher: A Kuwaiti research team has successfully developed a Polymerase Chain Reaction (PCR) test solution for the new coronavirus (COVID-19), Kuwait News Agency (KUNA) reported. The new test has excellent and accurate diagnostic results …
Global Economy
Ministry of Health - Saudi Arabia
20 May 04:07 PM KSA announces 2,691 COVID-19 cases Wednesday
Riyadh – Mubasher: Saudi Arabia has registered 2,691 new coronavirus (COVID-19) cases on Wednesday. The total number of cases increased to 62,545, the Ministry of Health daily report showed. On the other hand, 1,844 recovering cases were reported, …
Global Economy
Kuwait's death toll from COVID-19 increased to 121 on Tuesday
19 May 03:04 PM Kuwait reports 1,073 coronavirus cases on Tuesday
Mubasher: The number of confirmed cases of coronavirus (COVID-19) in Kuwait rose to 16,764 on Tuesday, with 1,073 people diagnosed with the novel disease in the last 24 hours, according to an official statement by the Ministry of Health. Death …
Global Economy
The UAE registered 1,214 recoveries
19 May 02:14 PM UAE confirms 873 new COVID-19 cases
UAE – Mubasher: The UAE has detected 873 new coronavirus (COVID-19) cases after conducting more than 38,000 new tests, the UAE Ministry of Health announced on Tuesday. Hence, the total number of cases reached 25,063 across the country. The UAE …
Sheikh Saleh Abdullah Kamel
19 May 10:57 AM Saudi businessman Saleh Kamel passes away
Riyadh – Mubasher: Prominent Saudi businessman, the chairman and founder of Dallah Al Baraka Group, Sheikh Saleh Abdullah Kamel died on Monday, aged 79. Saleh Kamel was one of the region’s biggest investors in the media industry as the founder of …
Banking and Finance
COVID-19 cases in the kingdom reached 57,345
18 May 04:12 PM Saudi Arabia announces 2,593 coronavirus cases on Monday
Riyadh – Mubasher: The Saudi Ministry of Health has reported on Monday 2,593 new coronavirus (COVID-19) cases. On the other hand, 3,026 recovering cases brought the total number of recoveries to 28,748, while the death toll from the virus in the …
Global Economy
A total of 11,234 patients are currently receiving treatment at hospitals
18 May 02:59 PM Kuwait reports 841 new coronavirus cases, 246 recoveries
Mubasher: The number of new coronavirus (COVID-19) cases in Kuwait jumped by 841 on Monday to reach 15,691 cases, the health ministry said on its official Twitter page. In the meantime, Kuwait’s death toll from the new coronavirus increased by six …
Global Economy
The nationwide nighttime curfew will begin at 5 p.m
17 May 03:26 PM Egypt to close shops, parks during Eid El-Fitr
Cairo – Mubasher: Egypt announced the closure of all shops, restaurants, shopping malls, parks, and beaches during Eid El-Fitr starting from Sunday, 24 May, until Friday, 29 May, to curb the spread of the coronavirus (COVID-19). All public …
Global Economy
The number of COVID-19 infections reached 11,719
17 May 12:08 PM Egypt denies news about full curfew during Eid El-Fitr
Cairo – Mubasher: The Egyptian Ministry of Health denied statements about imposing a one-week full curfew to combat the spread of the coronavirus (COVID-19). A statement attributed to the health minister Hala Zayed about imposing a full curfew …
Global Economy