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10 August 07:57 AM

Stocks News

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 …
Banking and Finance
Photo Archive
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 …
Financial Results
The transaction will significantly strengthen the lender’s financial position
3 August 09:31 AM Khaleeji Commercial Bank issues $159m Sukuk
Dubai - Mubasher: Khaleeji Commercial Bank has successfully issued Sukuk worth $159 million, subject to approvals from regulatory authorities and the extraordinary general meeting (EGM). Shareholders supported the bank to issue Additional Tier 1 …
Sukuk and Islamic Finance
The net profit reached KWD 1.47 million in H1-20
29 July 09:52 AM Inovest H1 profits rise 13%
Mubasher: Inovest registered a 13% increase in net profit during the first half (H1) of 2020 to KWD 1.47 million, as shown by the company's financial results. Earnings per share amounted to 4.93 fils, compared with 4.38 fils in H1-19, according to …
Financial Results
The Chicago properties are spread across nearly 700,000 square feet
14 July 12:19 PM Investcorp exits $200m industrial real estate portfolio in US
Mubasher: Investcorp has sold a portfolio of industrial real estate properties located in the Boston and Chicago metropolitan areas in the US, through two separate transactions at a combined value of more than $200 million. Investcorp acquired the …
Companies Investments
Aramco will decrease the August Arab Heavy crude supplies by about 10%
13 July 10:44 AM Aramco slashes August heavy crude supplies to six Asian buyers
Riyadh - Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) will slash its August-loading shipments of medium and heavy crude grades to at least six Asian buyers, Reuters reported on Monday citing sources familiar with the matter. Buyers in …
Commodities
The deployment was launched at stc Bahrain’s corporate headquarters
8 July 03:16 PM stc Bahrain rolls out first large-scale indoor 5G deployment
Mubasher: stc Bahrain has launched the first local integrated large-scale indoor 5G commercial deployment, declaring that it has achieved a new milestone in developing an integrated network infrastructure that supports the 5G connectivity. The …
Macroeconomics
Aramco raised August prices to all markets
6 July 11:04 AM Saudi Aramco raises August oil prices
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has raised the August official selling prices (OSP) for its Arab light crude oil sold to all markets, Reuters reported on Monday. The oil giant set the August OSP for Asian customers …
Commodities
The price for Octane 91 has been set at SAR 0.98 per litre
1 July 10:45 AM Saudi Aramco adjusts fuel prices after latest VAT hike
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has adjusted the local fuel prices after the decision to increase the value-added tax (VAT) to 15% came into effect on Wednesday.     The oil giant has set the prices for the Octane …
Commodities
Four refiners had smaller cuts in July when compared with June
15 June 11:19 AM Saudi Aramco decreases July crude supplies to 5 Asia buyers
Riyadh - Mubasher: Saudi Aramco has reportedly decreased the July crude volume that it will supply to at least five Asian buyers, Reuters reported on Monday citing multiple sources. The reductions were primarily made for the medium and heavy …
Commodities
The group has listed $300 million Sukuk in February
10 June 11:44 AM Nasdaq Dubai lists GFH's $200m Sukuk
UAE - Mubasher: Nasdaq Dubai has welcomed the listing of $200 million Sukuk issued by GFH Financial Group (GFH), according to a press release on Wednesday. The group will benefit from its second Sukuk listing on Nasdaq Dubai to strengthen its …
Sukuk and Islamic Finance
Batelco annual general meeting 2020 - (Photo Archive)
9 June 09:34 AM Batelco, NSSA sign MoU to boost cooperation
Mubasher: Bahrain's leading digital solutions provider, Bahrain Telecommunication Company (Batelco), announced the signing of a Memorandum of Understanding (MoU) with the Bahrain National Space Science Agency (NSSA) to ease further discussions …
Companies Investments
Kamel previously served as the board's vice chairman
8 June 03:42 PM Al Baraka Bank appoints new chairman
Mubasher: Al Baraka Banking Group, dually-listed on Bahrain Bourse and Nasdaq Dubai, announced the appointment of Abdullah Saleh Kamel as the board's new chairman. Previously, the chairman position was held by the late Sheikh Saleh Abdullah Kamel, …
Board of Directors
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
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
Butane prices for June have been reduced to $330 a tonne
31 May 01:21 PM Saudi Aramco raises propane price for June, lowers Butane
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has increased the price of its propane futures for June delivery to $350 a tonne from $340 in May, a pricing document reported by Reuters showed on Sunday. Butane prices for June have …
Commodities
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 …
Mutual Funds
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
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
UAE’s logistics sector topped M&A transactions in the GCC
12 May 01:03 PM M&A deals in GCC countries decline 51% in Q1 - Markaz
Mubasher: The number of merger and acquisition (M&A) transactions across the Gulf Cooperation Council (GCC) member countries decreased by 51% year-on-year (YoY) during the first quarter (Q1) of 2020, due to the coronavirus disease (COVID-19). The …
Companies Investments
FAB will provide custody, issuer, and transfer agent service
12 May 12:04 PM FAB, Bahrain Clear ink custodian agreement
Mubasher: First Abu Dhabi Bank (FAB) has recently signed a depository agent agreement with Bahrain Clear to offer custody services to regional and international institutions in Bahrain Bourse. Under the agreement, FAB will provide custody, issuer, …
Banking and Finance
Saudi oil production in June is seen at 7.492 million b/d
11 May 03:33 PM KSA orders voluntary additional oil output cut
Riyadh – Mubasher: Saudi Arabia’s Ministry of Energy has directed Saudi Aramco to reduce crude oil production in June, Saudi Press Agency (SPA) reported. The output will include an extra voluntary amount of one million barrels per day (b/d), in …
Macroeconomics
Phoenix Commodities Pvt was recently placed in liquidation
11 May 10:58 AM CBI denies financial exposure to Phoenix Commodities
Abu Dhabi – Mubasher: Commercial Bank International (CBI) has negated any financial exposure to Phoenix Commodities Pvt or its related parties, according to the bank's disclosure to the Abu Dhabi Securities Exchange (ADX) on Monday. Founded 20 …
Commodities
The CBK’s decision is in line with KFH’s board directives
7 May 10:53 AM Kuwait C. bank asks KFH to reassess AUB’s acquisition
Mubasher: Kuwait Finance House (KFH) has received a letter from the Central Bank of Kuwait (CBK) on Tuesday, 5 May, requesting KFH to conduct a comprehensive reassessment of its acquisition of Bahrain’s Ahli United Bank (AUB). The reassessment …
Central Banks
The JV will leverage Tages Capital’s and Investcorp ARI’s investment expertise
6 May 11:39 AM Investcorp, Tages set up absolute-return JV
Mubasher: Bahrain's Investcorp and Tages Group on Wednesday announced the creation of a 50-50 joint venture (JV), Investcorp-Tages Limited, by combining the absolute return investments (ARI) businesses of Investcorp and Tages Capital, the absolute …
Mergers and Acquisitions