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1 December 01:03 PM Saudi Arabia's 1st Future Minerals Summit to kick off next month
Riyadh – Mubasher: Saudi Arabia will debut its first-ever Future Minerals Summit during 11-13 January 2022 in the capital Riyadh, the Ministry of Industry and Mineral Resources announced on Wednesday. A ministerial roundtable before the summit …
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30 November 03:10 PM No cases of Omicron variant detected in Egypt – Official
Cairo – Mubasher: Egypt has not registered any cases of the Omicron variant until the current times, Acting Minister of Health, Khaled Abdel Ghaffar, who is the Minister of Higher Education and Scientific Research, stated on Tuesday. Abdel Ghaffar …
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28 November 02:17 PM Kuwait’s C.bank, CMA initiate campaign on crypto assets
Mubasher: The Central Bank of Kuwait (CBK) has collaborated with the Capital Markets Authority (CMA) to launch a joint financial literacy campaign on investing or dealing in crypto assets in the state, according to a press release on Sunday. …
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23 November 04:45 PM Saudi consumers plan more spending amid optimism over vaccine rollout – Report
Mubasher: Saudi Arabia’s consumers have been increasing their spending over the past months more than the global average, while 20% of Saudis intend to spend more on an ongoing basis post-pandemic, a report by AlixPartners unveiled on Tuesday. The …
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22 November 02:51 PM PepsiCo launches first greenhouse accelerator programme in MENA
Mubasher: PepsiCo has introduced its greenhouse accelerator programme in MENA to boost innovation and sustainability through collaboration with the region's startups. The programme was launched in partnership with the UAE Ministry of Climate …
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21 November 02:50 PM VentureSouq launches MENA's FinTech fund worth $50m
Mubasher: VentureSouq (VSQ), a GCC-based venture capital company, has launched the $50 million FinTech Fund I, the first fund focusing on FinTech across the MENA region and Pakistan. The fund invests in early-stage FinTech and SaaS companies …
The updated ratings reflect the group’s sound liquidity
7 October 08:43 AM CI upgrades GFH's corporate ratings; outlook stable
Dubai – Mubasher: Capital Intelligence Ratings has upgraded the long-term and short-term corporate ratings of GFH Financial Group at 'BB-' and 'B', respectively, with a stable outlook. The updated ratings reflect the group’s sound liquidity, …
The segment brings the total length of the 2Africa cable system to over 45,000 km
28 September 03:47 PM 2Africa consortium extends subsea cable system to Arabian Gulf, India, Pakistan
Mubasher: The 2Africa consortium, comprised of China Mobile International, Facebook, MTN GlobalConnect, Orange, Saudi Telecom Company (stc), Telecom Egypt, Vodafone, and WIOCC, announced that a new segment has been added to the 2Africa subsea …
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20 September 11:29 AM Saudi Arabia continues to be China’s top oil supplier in August
Riyadh – Mubasher: Saudi Arabia has retained its position as China's top crude oil supplier for the ninth month in a row during August, Reuters cited official data by China’s General Administration of Customs on Monday. Saudi oil exports to China …
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16 September 04:56 PM Saudi oil exports hit six-month high in July
Riyadh – Mubasher: Saudi Arabia’s oil exports increased to 7.65 million barrels per day (bpd) in July, hitting the highest level in six months since recording 7.75 million bpd in January, according to official data on Thursday. The exports volume …
Nihal El-Chami, Head of Programme and Marketing at Falak Startups
14 September 12:49 PM Startup Lounge: More VC investors now interested in Africa, Middle East – Nihal El-Chami
By: Marina Gamil Cairo – Mubasher: With the growing number of startups across different sectors, especially financial technology (FinTech), the dynamics of the venture capital (VC) landscape in Egypt have been changing with local and international …
ITFC approved for its member countries more than $58 billion since 2008
8 September 05:45 PM ITFC supports members with $605m under COVID-19 Response Program
Mubasher: The International Islamic Trade Finance Corporation (ITFC) has provided the member countries with $605 million as financial support under its COVID-19 Response Program, CEO of ITFC, Hani Sonbol, announced. The corporation aimed to help …
There was a decline in the capital investment to $12.4 billion
26 August 02:24 PM FDI projects in region decline 7%, capital investment shrinks 17% in H1-21
Mubasher: The number of foreign direct investment (FDI) projects in the Arab countries has decreased by 6.9% to 285 during the first half (H1) of 2021, according to a report by The Arab Investment & Export Credit Guarantee Corporation (Dhaman) on …
Saudi Arabia set Arab Light OSP to Northwest Europe at a discount of $1.70/barrel
4 August 03:14 PM Aramco raises September crude official selling prices for Asia
Riyadh – Mubasher: Saudi Arabian Oil Company (Saudi Aramco) has increased the September official selling prices (OSPs) for its Arab light crude to $3 per barrel above the Oman/Dubai average for Asia, Reuters reported on Wednesday. The Kingdom has …
Airline is currently reconnecting all passengers - (Photo Archive)
22 July 12:45 PM Gulf Air confirms ground incident at Dubai airport
Mubasher: Gulf Air confirmed that a ground incident involving one of its aeroplanes took place at the Dubai International Airport on Thursday, Bahrain News Agency (BNA) reported. The Bahraini carrier’s aircraft was impacted on the tail by a plane …
Kuwait Investment Authority has occupied the third position
20 July 11:57 AM SWFI lists four Arab sovereign wealth funds among world's top ten funds in July 2021
Mubasher: A total of four Arab sovereign wealth funds are listed among the world's top ten sovereign wealth funds in July 2021, with combined assets of $2.074 trillion, according to the recent data by the Sovereign Wealth Fund Institute (SWFI). …
The Hajj season this year will witness a digitised journey from start to finish
13 July 01:37 PM How pilgrims benefit from digitisation when performing Hajj
By: Ingy ElSafy Mubasher: The COVID-19 pandemic has brought technology-enhanced methods that help authorities implement social distancing to preserve the health of people. Saudi Arabia will provide a digital Hajj (Muslim pilgrimage) this year and …
Majority of GCC consumers likely to opt for digital banking services
6 July 05:22 PM Majority of GCC consumers likely to opt for digital banking services
Mubasher: The majority of GCC consumers, about 85% of respondents to a survey, would currently opt for digital banking services rather than visiting a bank branch, according to a paper by Backbase with YouGov. With the appetite accelerating more …
GACA issued a circular to all airlines operating in Saudi Arabia
4 July 03:48 PM Saudi Arabia suspends flights to three destinations on COVID variant
Riyadh – Mubasher: Saudi Arabia’s General Authority of Civil Aviation (GACA) has suspended direct and indirect travel of citizens to the UAE, Ethiopia, and Vietnam without obtaining prior permission from the concerned authorities due to the …
MENA’s ESG market currently represents 1.3% of 2021's global issuance
4 July 02:35 PM Green finance in MENA reaches $6.4bn in H1, exceeds global growth rate
Mubasher: Green and sustainability-linked debt issuances in the MENA region amounted to $6.4 billion in value during the first half (H1) of 2021, exceeding the global growth rate, according to a report by Bloomberg on Sunday. The region’s green …
The bank's current ownership records 3.5%
28 June 09:57 AM Al Salam Bank obtains CBB’s approval to buy treasury shares
Mubasher: Al Salam Bank – Bahrain has received the approval of the Central Bank of Bahrain (CBB) to purchase treasury shares of up to 5% of the bank’s issued shares.  The bank's current ownership records 3.5%, according to the bank's disclosure to …
Middle East accounts for 23% of the global gaming industry
27 June 04:31 PM Mobile gaming market in Middle East likely to exceed $4bn next year
Mubasher: Approximately 100 million people in the Middle East use mobile gaming, with the industry across the region expected to reach $4.4 billion by 2022 compared to $1.06 billion in 2016. The region’s mobile gaming market grew 25% in 2020, …
The Swiss government is adhering to the opening strategy of the EU
27 June 02:02 PM Vaccinated GCC guests to enter Switzerland without quarantine, testing
Mubasher: All visitors from the Arabian Gulf countries who are vaccinated against COVID-19 will be allowed to enter Switzerland without the need to undergo quarantine nor testing. This decision has come to effect on 26 June, according to a press …
The UAE topped the Arab region with $19.88 billion worth of FDIs
24 June 02:34 PM UAE, Egypt, Saudi Arabia top Arab countries in FDIs
Mubasher: The UAE, Egypt, and Saudi Arabia were the top three Arab countries attracting foreign direct investment (FDI) inflows in 2020, according to the Arab Investment & Export Credit Guarantee Corporation (Dhaman) report on Thursday. The …
Ahmed El-Alfi, Chairman of Sawari Ventures
22 June 04:46 PM Startup Lounge: Tech offers great opportunities for success – Interview with Ahmed El-Alfi
By: Moslem Ali Cairo - Mubasher: In the second instalment of our interview with the Founder and Chairman of Sawari Ventures, Ahmed El-Alfi, we discuss the future of technology and the opportunities of startups to succeed as technological …