Riyadh – Mubasher: EIG Global Energy Partners will lead a consortium to issue billions of dollars in bonds over two or three transactions to refinance loans for investment in the Saudi Arabian Oil Company’s (Saudi Aramco) oil pipeline assets, …
Cairo – Mubasher: Egyptian President Abdel Fattah El-Sisi issued decree no. 642 of 2020 for the approval of a EUR 1.88 billion loan agreement to finance the construction of two monorail lines, the Middle East News Agency (MENA) reported on …
Dubai – Mubasher: Dubai Islamic Bank (DIB) has priced a perpetual non-call five and a half year Additional Tier 1 (AT1) Sukuk issuance worth $500 million with a 3.375% profit rate per annum. This transaction records the lowest pricing closed by a …
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 17.5 billion on Thursday on behalf of the Ministry of Finance. The first tranche of the T-bills will be offered through 182-day notes valued at EGP …
Abu Dhabi – Mubasher: Abu Dhabi Commercial Bank (ADCB) has received preliminary non-binding offers from potential investors to acquire the bank's 51.54% stake in Alexandria Medical Services - Alexandria New Medical Center in Egypt. The bank and …
Cairo – Mubasher: The board of directors of the Egyptian Financial Group Hermes Holding (EFG Hermes) approved an acquisition deal in partnership with the Sovereign Fund of Egypt to purchase 76% of the Arab Investment Bank (aiBANK). The acquisition …
Cairo – Mubasher: Inertia Egypt signed a contract with Banque Misr to obtain a medium-term Islamic funding worth EGP 1.1 billion to finance the company’s project on the North Coast. The Mudarabah funding will be used to finance the development of …
Dubai – Mubasher: Emirates NBD has entered into a partnership to integrate the fintech platform MoniMove, owned by DIFC-based Credit Fintech, with the bank's E20., a digital business initiative targeting entrepreneurs, startups, small and …
By: Heba El-Kordy Cairo – Mubasher: The Commercial International Bank-Egypt (CIB) saw its stock plunge sharply to its lowest level in 28 months. By 11:00 a.m., the heavyweight stock declined by 2.1% to EGP 54.06, its lowest level since December …
By: Abdullah Bedeir Cairo – Mubasher: First Abu Dhabi Bank (FAB) is expected to complete its acquisition of Bank Audi Egypt before the end of 2021, pending the approval of the Central Bank of Egypt (CBE), FAB Egypt’s CEO Mohamed Fayed said. On the …
Riyadh – Mubasher: Filing and Packing Materials Manufacturing Company (FIPCO) has renewed a credit facilities agreement worth SAR 30 million with Bank Albilad, according to a bourse filing on Monday. The sharia-compliant loan deal carries a …
UAE - Mubasher: Sanad Capital, a wholly-owned subsidiary of Mubadala Investment Company, has closed a $55 million debt financing deal with the Commercial Bank of Dubai. This collaboration is the first of its kind between Sanad Capital, an …
Dubai – Mubasher: Dubai Islamic Bank (DIB) has hired banks to arrange for a planned issuance of US dollar-denominated Additional Tier 1 Sukuk that are non-callable for six years, Reuters reported. To arrange fixed income investor calls starting on …
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) worth EGP 13 billion on Monday on behalf of the Ministry of Finance. The first tranche of the T-bonds will be offered through three-year notes valued at EGP 7 …
UAE - Mubasher: The UAE will introduce the world's first digital bank to provide both retail and corporate banking, Zand, with Mohamed Alabbar, the Founder and former Chairman of Emaar Properties, as Chairman. Subject to final regulatory …
Cairo – Mubasher: Qatar National Bank Al Ahli (QNB Al Ahli) achieved net profits of EGP 1.96 billion during the first quarter (Q1) of 2021, up by 5.18% year-on-year (YoY) from EGP 1.87 billion in the corresponding period a year earlier, including …
Riyadh – Mubasher: Saudi Paper Manufacturing Company received the Ministry of Finance's final approval to obtain additional credit facilities worth SAR 50 million, according to a disclosure to Tadawul on Sunday. The listed firm has signed a …
Cairo – Mubasher: Remittances from Egyptian expatriates increased by $1.7 billion or 10.6% year-on-year (YoY) to $18.1 billion from July 2020 to last January, compared to $16.3 billion, according to data by the Central Bank of Egypt (CBE). In …
Cairo – Mubasher: The Chairman of Suez Canal Economic Zone (SCZone), Yehia Zaki, signed a long-term syndicated loan agreement with a consortium led by the National Bank of Egypt (NBE) as the senior mandated lead arranger, facility agent, and …
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 …
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has collaborated with IBM, a New York-based cloud platform and cognitive solutions company, to adopt IBM hybrid cloud solutions based on Red Hat OpenShift and become a digitally-led Islamic bank. …
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 18.5 billion on Sunday on behalf of the Ministry of Finance. The first tranche of the T-bills will be offered through 91-day notes valued at EGP 11 …
ArabFinance: The Saudi Arabian Oil Company’s (Saudi Aramco) has taken part in launching Altamayyuz Finance and Accounting Excellence Academy which aims to build the capabilities of top finance and accounting graduates in Saudi Arabia. The …
Cairo – Mubasher: Banks in Egypt are expected to face further pressure on operating profitability in 2021 because of lower interest rates and higher loan impairment charges, Fitch Ratings said in a report. The international credit ratings agency …
Cairo – Mubasher: The Commercial International Bank-Egypt (CIB) approved in principle to reschedule loans and cut interest payments of Sharm Dreams Company for Touristic Investment. The company requested an urgent funding of EGP 140 million for …
