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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 …
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 …
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 …
Aggregate GCC central government deficit seen at about $80 billion in 2021
27 May 01:42 PM Saudi Arabia likely to account for 60% of GCC cumulative deficit – S&P
Mubasher: Saudi Arabia is expected to account for 60% of the $355 billion cumulative deficit across the GCC states between 2021 and 2024, according to S&P Global Ratings. Kuwait will likely follow with 25%, while the UAE and Oman are projected to …
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 …
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 …
Middle East Energy Dubai will kick off on 17 May
3 May 03:10 PM Middle East seen as market leader in renewable, clean energy
Mubasher: The MENA region is projected to see 83 GW of renewable and clean energy capacity, mainly from solar and wind power, by 2035, according to a research from Informa Markets. In addition, over AED 55 billion worth of solar power projects …
The MEA region had the lowest number of corporate debt defaults in 2020
3 May 02:51 PM EM corporate debt likely to remain resilient in 2021 – Report
Mubasher: Companies in the Middle East and Africa (MEA) region recorded the least number of debt defaults in 2020 amid the coronavirus (COVID-19) pandemic. Despite the challenges posed by the pandemic, investment experts at Aberdeen Standard …
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 …
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 …
The currency will not replace cash and bank deposits
19 April 03:47 PM UK mulls creating new digital currency
Mubasher: The UK Treasury and Bank of England (BoE) announced the creation of a joint taskforce to explore a potential central bank digital currency (CBDC). The currency “would be a new form of digital money issued by the Bank of England and for …
The activities in oil-exporting coutries are expected to recover in 2021
15 April 01:33 PM IMF expects MENA real GDP to grow 4% in 2021
Mubasher: The International Monetary Fund (IMF) has upgraded its outlook for the real gross domestic product (GDP) growth in the MENA region to 4% in 2021, compared to its October projection of 3.2%. The real GDP growth of the GCC countries is …
Online shopping has become more of a long-term behavior change
13 April 03:18 PM Online shopping in KSA, UAE likely to grow during Ramadan – Report
Riyadh – Mubasher: A greater surge in online shopping is expected to be witnessed during the month of Ramadan, which has just started today on 13 April, a recent survey Checkout.com unveiled. Online spending by consumers in the UAE and Saudi …
Central Bank of Egypt - (Photo Archive)
11 April 01:47 PM CBE to introduce instant payment module, soft POS in 2021 - Deputy Governor
By: Marina Gamil Cairo – Mubasher: The Central Bank of Egypt (CBE) will this year launch a full-fledged instant payment module, after finalising regulations, and introduce a soft point of sale (POS) system that allows the use of mobile phones as …
The aggregate net profit of the GCC listed banks plunged by 32.2% YoY
1 April 01:48 PM GCC banking sector's profits record seven-year low in 2020
Mubasher: The net profits of the GCC banking sector hit their lowest levels in seven years, affected by the decline of profits in the fourth quarter (Q4) by almost a third on a quarterly basis to $5.3 billion due to higher provisions, according …
Assem El-Bassal, CEO of Mubasher Media - (Photo Archive)
29 March 05:49 PM Mubasher Media supports investors, plans expansion – CEO Assem El-Bassal
Riyadh – Mubasher: The CEO of Mubasher Media, Assem El-Bassal, said on Monday that the company is working on covering the main aspects across major sectors, led by the investors’ sector, by providing a perfect electronic environment for investors …
Mubasher seeks to enable beginners to become professional traders - (Photo Archive)
29 March 04:39 PM Mubasher's vision in line with Egypt's efforts to support investment plans - Rashad
Riyadh - Mubasher: The vision of Mubasher is in line with Egypt's efforts to support citizens' savings and investment plans and enable individuals and youth to further benefit from non-banking financial activities, according to …