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The Murabaha facility agreement was signed in June 2019
22 January 04:38 PM Alafco recieves last tranche of $600m Murabaha facility
Mubasher: Alafco Aviation Lease and Finance Company on Wednesday announced the successful closure of a $600 million five-year unsecured Murabaha facility as it received the last tranche of $80 million. The payment marked the last phase of the …
The contract carries a primary maturity period of two years
22 January 02:58 PM Integrated Logistics signs KWD 3.5m deal for BAPCO refinery
Mubasher: Integrated Holding Company on Wednesday announced that its 100%-owned subsidiary, Integrated Logistics, signed a deal with the main contractor of the Bahrain Petroleum Company’s (BAPCO) refinery development project to provide and operate …
Photo Archive
22 January 01:10 PM Aramco agrees LNG sale to S-Oil
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has reportedly sold a liquefied natural gas (LNG) cargo to South Korea’s S-Oil Corporation, through its trading arm Aramco Trading Company. The cargo was sold at around $4.40-$4.60 …
Order books were oversubscribed 2.5 times, exceeding $750 million
22 January 09:39 AM GFH raises $300m in Sukuk issuance; oversubscribed 2.5 times
Dubai – Mubasher: GFH Financial Group on Wednesday announced the successful closure of five-year Sukuk valued at $300 million.   The issuance was oversubscribed 2.5 times with more than $750 million, according to a bourse statement. GFH believes …
Chairman of Kuwait Finance House (KFH), Hamad Abdulmohsen Al Marzouk
20 January 03:59 PM KFH, AUB merger to generate higher profits; BHB listing approved
Mubasher: The chairman of Kuwait Finance House (KFH), Hamad Abdulmohsen Al Marzouk stressed that the bank focuses on merger and acquisition opportunities, CNBC Arabia reported on Monday. He noted that KFH’s merger with Bahrain’s Ahli United Bank …
BisB will continue to be listed on Bahrain Bourse
18 January 09:48 PM NBB acquires 78.8% stake in Bahrain Islamic Bank
Mubasher: The National Bank of Bahrain (NBB) on Saturday announced that its offer to acquire up to 100% of the paid-up ordinary shares of the Bahrain Islamic Bank (BisB) resulted in the control of a 78.8% stake in the Islamic bank, according to …
The reclassification will have no relation to GFH’s performance
16 January 10:27 AM GFH’s shares on Boursa Kuwait reclassified to main market
Dubai – Mubasher: GFH Financial Group announced that Boursa Kuwait has reclassified the segment of GFH’s shares on it from the premier market to the main market. The reclassification coincides with the bourse’s recent market segmentation plans …
The Sukuk issuance will have a tenor of five years
16 January 09:29 AM GFH confirms Reuters news on $500m Sukuk issue
Dubai – Mubasher: GFH Financial Group on Thursday confirmed to its shareholders the news published by Reuters on 13 January 2020. GFH clarified that it plans to issue five-year-tenor Sukuk. The issuance builds on the shareholders’ resolution, …
The policy is renewed for one year, starting from 15 January 2020
14 January 04:42 PM Amana Cooperative renews SAR 22.7m health insurance deal
Riyadh – Mubasher: Amana Cooperative Insurance Company announced the renewal of El Seif Engineering Contracting Company’s health insurance policy. The renewed policy involves presenting health insurance services to the contracting company’s staff …
Abha will be Jazeera Airways's sixth destination in KSA
14 January 03:48 PM Jazeera Airways launches direct flights to Abha
Mubasher: Jazeera Airways announced that it prepares to launch a new direct service to Abha, making the capital of the Asir Region its sixth destination in Saudi Arabia. The new destination will be served with three weekly return flights every …
Photo Archive
14 January 10:57 AM Esterad sells $6m stake in United Cement
Mubasher: Esterad Investment Company, listed on the Bahrain Bourse, has sold its stake in United Cement Industrial Company to Saudi Cement Company for BHD 2.3 million ($6.05 million). Esterad says it has achieved a return on investment of more …
Chief Global Business Officer, Adel Al Daylami
9 January 04:46 PM Batelco boosts global connectivity solutions via ‘Google Cloud Interconnect’
Mubasher: Bahrain’s leading digital solutions provider, Batelco, has unveiled 'Google Cloud Interconnect', a new development that strengthens the company’s cloud services and bolsters its global connectivity solutions through a secure, reliable, …
The new station includes various eco-friendly features
8 January 04:34 PM Oman Oil Marketing Company launches sultanate’s 1st green service station
Mubasher: Oman Oil Marketing Company (OOMCO) has launched the sultanate’s first green service station, according to a statement released on Wednesday. Located in Rusayl in northeastern Oman, the new station includes various eco-friendly features, …
The transaction may have a one-time negative impact on the net income
5 January 10:15 AM Burgan Bank exits entire stake in Bank of Baghdad
Mubasher: Burgan Bank has sold its full stake in Bank of Baghdad, representing 51.8%, to its sister company, United Gulf Holding company. The deal reinforces Burgan Bank’s strategy to improve returns on risks for the bank’s shareholders, according …
Aramco set the January price for butane at $590 per ton
31 December 2019 04:39 PM Saudi Aramco raises propane prices for January 2020
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has set the price for January propane shipments at $565 per ton, up from $440 in December. Meanwhile, Aramco set the January price for butane at $590 per ton, compared with $455 in …
GFH is a Bahrain-based company listed on 3 markets
29 December 2019 05:03 PM GFH shareholders nod to $500m Sukuk issue
Mubasher: The shareholders of GFH Financial Group approved the board’s proposal to issue Sukuk of up to $500 million in one or more issuances. During the ordinary general meeting (OGM) on Sunday, 29 December, the shareholders also approved to …
Batelco's official at the new branch
29 December 2019 03:40 PM Batelco inaugurates new retail branch in Saar Mall
Mubasher: Bahrain Telecommunication Company (Batelco) has opened a new retail branch in Saar Mall to meet the various needs of customers and the area’s residents. The inauguration was attended by the Northern Governor, Ali bin Al Shaikh Abdul …
Alba’s new production facility is backed by EGA’s DX+ Ultra technology
29 December 2019 00:36 PM EGA completes 1st UAE project to export industrial technology
UAE – Mubasher: Emirates Global Aluminium (EGA), a major Emirati industrial company, has completed the country’s first historic industrial technology project to export UAE-developed industrial technology. Through its deal with Aluminium …
The rating reflects the group’s efforts in becoming fully diversified
26 December 2019 09:41 AM S&P initiates GFH coverage with 'B' long-term issuer rating; outlook stable
Dubai - Mubasher: Standard and Poor's (S&P) Financial Services has assigned GFH Financial Group with a ‘B’ long-term issuer credit rating, with a ‘Stable’ outlook. The rating reflects the group’s successful efforts in becoming fully diversified …
GFH Financial Group
21 December 2019 05:43 PM GFH Properties names new CEO
Dubai – Mubasher: GFH Properties, the real estate arm of GFH Financial Group, has announced the appointment of Shaikh Hamad bin Mohammed Al Khalifa as new CEO. Shaikh Hamad has assumed managerial positions in real estate and urban planning. It is …
The new logo of STC
19 December 2019 10:05 AM STC launches new brand in KSA, Bahrain, Kuwait
Riyadh – Mubasher: Saudi Telecom Company (STC) announced the launch of its new branding, according to a statement to the Saudi Stock Exchange website (Tadawul). Launching the new branding for the company and its subsidiaries comes in line with the …
Credit Agricole is still developing SMEs portfolio and getting some resources
18 December 2019 02:09 PM Antoine Paliard talks fintech innovation, startup contests – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Credit Agricole has chosen Infini Systems, an India-based startup, as the winner of the Fintech Hackathon 2019 during the RiseUp Summit, held in Cairo from 5 to 7 December. A total of 30 teams …
Mohamed Okasha, Managing Director of Fawry
15 December 2019 03:18 PM Interview: Fawry will use blockchain technology – Mohamed Okasha
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Fawry has been in the Egyptian market for over a decade, and recently listed on the Egyptian Exchange (EGX). During this time, the leading e-payment network proved itself as an “enabler”, said …
Mabanee owns a 35% stake in Avenues
12 December 2019 11:06 AM Avenues signs 60-year lease contract for Bahraini land - Mabanee
Mubasher: Mabanee Co on Thursday announced that Avenues Company, a unit of Al Sorouh Management Company, inked a contract with Bahrain’s Ministry of Works, Municipalities Affairs and Urban Planning to lease and develop a land for 60 years. Under …
MSC Bellissima will make 17 calls and spend 35 days in Dubai
11 December 2019 00:40 PM DP World, MSC Cruises ink long-term deal to promote tourism
Dubai – Mubahser: DP World has entered into a long-term agreement with MSC Cruises for preferential berthing rights at Mina Rashid in Dubai, strengthening the Geneva, Switzerland-based cruise line’s position as a top passenger cruise operator in …