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How the pandemic changed the e-payments outlook in MENA?
12 August 07:27 PM The future of e-payment solutions after COVID-19
By: Moslem Ali Cairo – Mubasher: “Stay Home” is a global call that spread across the world over the past months, signalling not only a new public policy and a health precaution against an infectious disease but a turning point in how markets …
12 August 04:39 PM US signs $1.5bn deal with Moderna for potential COVID-19 vaccine
Mubasher: The US has reached an agreement with biotech company Moderna Inc to purchase 100 million doses of its potential coronavirus vaccine.
12 August 01:41 PM UK enters recession after economy slumps 20.4% in Q2
The UK economy has suffered its largest-ever contraction during the second quarter (Q2) of the year on account of the coronavirus lockdown measures.
11 August 03:25 PM Russia approves first COVID-19 vaccine
Russia became the first country in the world to grant regulatory approval to a COVID-19 vaccine following less than two months of human testing.
11 August 05:20 PM Nokia phones maker HMD secures $230m from strategic partners
HMD Global, the home of Nokia phones, has raised $230 million funding from its global strategic partners.
Egypt's Minister of International Cooperation, Rania El-Mashat
9 August 05:54 PM Egypt launches first platform for closing the gender gap accelerator
Cairo – Mubasher: The Egyptian Ministry of International Cooperation and the National Council for Women with the World Economic Forum hosted the first multi-stakeholder platform on “Closing the Gender Gap Accelerator”, the first in Africa and MENA …
10 August 05:56 PM Marriott sees greater-than-expected quarterly loss
Marriott International reported on Monday a bigger-than-expected quarterly loss, as room bookings and global travel were hit hard by the coronavirus crisis.
10 August 05:55 PM Senators urge US Trade Representative to lift tariffs on EU goods
A bipartisan group of 13 US senators has called on the US Trade Representative’s Office (USTR) to cancel 25% tariffs imposed on EU goods.
10 August 05:27 PM Unilever may cancel HQ unification plan over Dutch exit tax
Under the new proposed law, the Anglo-Dutch consumer goods company would pay EUR 11 billion to the Dutch government.
The bank's total income increased to BHD 11.37 million
10 August 10:36 AM Khaleeji Commercial Bank achieves higher profits in H1-20
Mubasher: The net profits attributable to the shareholders of Khaleeji Commercial Bank, listed on Bahrain Bourse (BHB) and the Dubai Financial Market (DFM), surged to BHD 5.7 million in the first half (H1) of 2020, compared to BHD 199,000 in the …
The third stage will be conducted on 5,000 participants in the kingdom
9 August 09:37 AM Saudi Arabia starts phase three clinical trial of COVID-19 vaccine
Riyadh – Mubasher: The Saudi Ministry of Health announced it began clinical trials for a coronavirus (COVID-19) vaccine in the kingdom, within the framework of a cooperation agreement between the kingdom and China, according to an official …
6 August 04:12 PM Lufthansa plans for compulsory job cuts
Lufthansa has given its workers a notice for compulsory job cuts after incurring EUR 1.7 billion operating losses in a single quarter.
6 August 12:50 PM Bank of England keeps interest rates unchanged, expects slower recovery
Mubasher: The Bank of England (BoE) maintained interest rates steady, but warned that the economy could take longer to recover from the coronavirus (COVID-19) crisis.
The total Sukuk issuance retreated by 12% in H1-20
6 August 12:44 PM Sukuk issuance to decrease 5% in 2020 - Moody's
Mubasher: Sukuk issuance will contract by 5% to around $170 billion in 2020 due to the coronavirus (COVID-19) pandemic, which is set to be limited by the financing needs in the GCC countries due to low oil prices, according to Moody's Investors …
6 August 10:01 AM US, China to review trade deal mid-August
The senior US and Chinese officials will come together on 15 August via videoconference to review the first phase of the bilateral trade deal.
6 August 09:58 AM Thomson Reuters reports lower quarterly earnings   
Thomson Reuters Corp on Wednesday said it saw slightly lower revenue and an 18% slump in operating profit during the second quarter of 2020.
The Sukuk aims to reinforce the bank's capital
5 August 03:50 PM Khaleeji Commercial Bank finalises $159m Sukuk issuance
Dubai - Mubasher: Khaleeji Commercial Bank has closed $159 million Sukuk issuance fully covered by GFH Financial Group as the sole subscriber, according to a press release on Wednesday. Issued following the approval of regulatory authorities and …
5 August 02:02 PM Beirut explosion causes $3-5bn damages – Governor
Mubasher: The massive blast that shook the Lebanese capital on Tuesday caused between $3 billion and $5 billion worth of damage.
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4 August 04:55 PM Bahrain Kuwait Insurance’s profits up 11% in H1
Mubasher: Bahrain Kuwait Insurance Company gained KWD 2.301 million (approx. $6.06 million) in net profits during the first six months of 2020, 11% higher than KWD 2.073 million ($5.45 million) in the same period a year earlier. The annual rise in …
4 August 02:49 PM Nestlé reports 9.5% drop in H1 sales
Nestlé said its total sales fell 9.5% in the first six months of 2020 to stand at CHF 41.2 billion.
4 August 02:12 PM BP reports $16.8bn quarterly losses, slashes dividends
Energy giant BP on Tuesday reported losses of $16.8 billion for the second quarter (Q2) of 2020.
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4 August 12:42 PM Kuwaiti investor plans to buy A.S. Roma
Mubasher: Kuwaiti businessman Fahad Al Baker announced that he has submitted an offer to acquire A.S. Roma, a football club in Italy. “I can now confirm that we have submitted an offer to Mr. Pallotta for the acquisition of A.S. Roma,” the …
Photo Archive
4 August 09:34 AM Saudi customs relaxes restrictions for GCC trucks
Riyadh – Mubasher: Saudi Customs has eased the precautionary measurements imposed on trucks arriving from GCC countries, allowing those carrying goods for the kingdom to enter via land ports. However, truck drivers will be checked for COVID-19 …
The FDI inflow to the Arab region could shrink by more than 21% in 2020
3 August 12:09 PM Saudi Arabia is most attractive GCC destination for FDI in Q1
Riyadh – Mubasher: The number of new foreign direct investment (FDI) projects launched by GCC states to other countries went down by 8% in the first quarter (Q1) of 2020 to stand at 70 projects valued at $4.9 billion. The projects’ investment cost …
Forbes launched the list last year
3 August 11:02 AM Fashion sector represents 42% of Forbes’ Women Behind Middle Eastern Brands 2020 list
Mubasher: This year’s Women Behind Middle Eastern Brands 2020 featured female trailblazers who managed to sustain their successful brands and push the boundaries despite the COVID-19 pandemic. The list, launched initially last year by Forbes, …