Banking and Finance

TAQA is a state-owned company
2 hours ago TAQA mulls obtaining up to $1.3bn loans
Abu Dhabi – Mubasher: Abu Dhabi National Energy (TAQA) is in negotiations with local banks to obtain credit facilities valued at $1.3 billion, sources told Reuters. The state-owned TAQA seeks to obtain loans for refinance a maturing debt after the …
Oriental Weavers to obtain EUR 9m loan from QNB
4 hours ago Oriental Weavers plans EUR 12m expansions until end-2018
Cairo – Mubasher: Oriental Weavers Carpet is planning to add about eight to ten looms until the end of 2018 with investments range between EUR 10 million to EUR 12 million. The company’s new expansions in its factories amounted to EGP 324 million …
The financial impact cannot be determined in the current time
22 November 05:01 PM Sanad signs MoU with GIH to settle KWD 34.55m debts
Mubasher: Sanad Holding Co has inked a memorandum of understanding (MoU) with Gulf Investment House (GIH) to settle GIH’s debts worth KWD 34.55 million ($114.62 million). Sanad and GIH said, in two separate statements, that they would disclose any …
ADHA launches AED1m housing repair loan
22 November 12:54 PM ADHA launches AED1m housing repair loan
  Abu Dhabi- Mubasher: Abu Dhabi Housing Authority (ADHA) announced that it will offer a new loan of AED 1.1 million for citizens for house maintenance and expansion, Al Khaleej newspaper said. The two-year loan, extended over 15 years, is payable …
The financial impact from signing this deal will be a profit of KWD 17.22 million
22 November 11:18 AM KGL reaches debts settlement deal on KWD 35m credit facilities
Mubasher: Kuwait and Gulf Link Transport (KGL) has reached a final agreement with a local bank to settle debts resulted from credit facilities worth KWD 35 million. The credit facilities’ value represents loan principal in addition to profits, …
Agility’s subsidiary ink $457m credit facility
21 November 09:50 AM Agility’s subsidiary inks $457m credit facility
Mubasher: Agility Public Warehousing on Tuesday announced, through its subsidiary United Projects Company for Aviation Services (UPAC), that the Abu Dhabi-based Al Farwaniya Property Company LLC has signed a seven-year senior credit facility for a …
KSA finances budget deficit with SAR 58.5bn in Q3 – MoF
20 November 05:31 PM KSA finances budget deficit with SAR 58.5bn in Q3 – MoF
Riyadh – Mubasher: The Saudi Ministry of Finance (MoF) financed the country’s budget deficit with SAR 58.5 billion during the third quarter of 2017. Budget deficit’s financing was distributed on SAR 37 billion from domestic loans, SAR 6.5 billion …
Markets in the Arab region saw negative conditions that affected the economy in 2017
19 November 06:17 PM QInvest exits US real estate murabaha transaction – CEO
Mubasher: QInvest on Sunday announced its successful exit from the US real estate mezzanine murabaha transaction, which includes 17 assets generating an internal rate of return (IRR) of 14.9% over the past 20 months, according to QInvest’s …
Emirates NBD tops the conventional bonds issuers on Nasdaq Dubai.
19 November 01:13 PM Emirates NBD marks $750m bond-listing on Nasdaq Dubai
Dubai - Mubasher:  Emirates NBD’s vice chairman and managing director Hesham Abdulla Al Qassim on Sunday rang the market-opening bell to celebrate the listing of a $750 million conventional bond on Nasdaq Dubai.  Emirates NBD’s $750 million bonds …
Al-Roshood and AlSumait with Arslan
19 November 12:47 PM KFH inks Euro Vostro deal with Germany’s KT Bank
Mubasher: Kuwait Finance House (KFH) announced that it signed Euro Vostro account agreement with KT Bank AG to provide Euro clearing and settlement services for KFH, according to a recent statement. KT Bank is considered the first bank in Germany …
Return on public debt instruments for one year was 2.000%
19 November 10:40 AM Kuwait C.bank says debts instruments rose KWD 1bn in September
Mubasher: The balance of the total public debt instruments, including bonds and tawarruq operations since April 2016, registered an increase of KWD 1 billion in September 2017 compared to the end of June 2017, Al Shall Consulting reported, …
SoftBank to pump $25bn investments in KSA in next 3-4 yrs – Bloomberg
16 November 01:43 PM SoftBank to pump $25bn investments in KSA in next 3-4 yrs – Bloomberg
Riyadh – Mubasher: SoftBank Group Corp plans to pump $25 billion investments in Saudi Arabia during the coming three or four years, Bloomberg reported on Wednesday. The group which is managed by by Masayoshi Son aims to invest $15 billion in Saudi …
15 November 03:29 PM KSA’s Neom will attract domestic, international investments – Al Nahyan
Riyadh – Mubasher: The Saudi megaproject, Neom is forecasted to provide investment opportunities on the domestic and international levels, said the UAE’s ambassador in Saudi Arabia, Shakhbout bin Nahyan Al Nahyan. The project which will be located …
Bids submitted to the loan amounted to $4.3 billion
14 November 08:06 PM CBE repays $2bn in debt, enters $3.1 repurchase deal
Cairo – Mubasher: The Central Bank of Egypt (CBE) has announced the repayment of $2 billion in debt to several international banks on 9 November and a new repurchase deal. A financial agreement was also renewed with these banks, which involves the …
The EBRD and ALEXBANK’s deal for energy efficiency in Egypt
14 November 06:56 PM The EBRD and ALEXBANK’s deal for energy efficiency in Egypt
Cairo - Mubasher: The European Bank for Reconstruction and Development (EBRD) in conjunction with the European Investment Bank (EIB) on Tuesday announced that they are setting a plan to improve renewable energy efficiency in Egypt.  EBRD President …
EBRD awards Emirates NBD Egypt $40m loan to enhance trade
14 November 04:12 PM EBRD awards Emirates NBD Egypt $40m loan to enhance trade
Cairo – Mubasher: The European Bank for Reconstruction and Development (EBRD) on Tuesday handed over a $40 million loan to Emirates NBD - Egypt, aiming to support importers and exporters under EBRD’s trade facilitation programme (TFP).  “Through …
This is the first agreement to be carried out between the EBRD and AAIB
14 November 04:02 PM EBRD, AAIB ink $30m loan to fund SMEs in Egypt
Cairo – Mubasher: The European Bank for Reconstruction and Development (EBRD) on Tuesday announced extending further support to the Egyptian economy, particularly small and medium-sized enterprises (SMEs) through a deal with the Arab African …
SMEs make up more than 90% of the Egyptian enterprises
14 November 03:27 PM Banque Misr secures $75m loan from EBRD
Cairo Mubasher: The European Bank for Reconstruction and Development (EBRD) on Tuesday announced that it will provide Banque Misr with a $75 million loan to promote the growth and development of small and medium-sized enterprises (SMEs) in Egypt. …
Egypt inks expanded financing deal of $3.2bn
14 November 02:53 PM Egypt inks expanded financing deal of $3.2bn
Cairo - Mubasher: Tarek Amer, the Central Bank of Egypt’s (CBE) governor, has said that Egypt signed an expanded financing agreement with foreign banks valued at $3.2 billion. The purpose of this deal is to enhance the country’s foreign reserves …
The UK’s Barclays Bank and J.P. Morgan Securities will arrange the facility
14 November 12:53 PM Unatrac Holding completes $275m credit package
Dubai – Mubasher: Unatrac Holding Limited on Tuesday announced the completion of a $275 million credit package including a $225 million five-year revolving credit facility, along with a $125 million accordion option, and a $50 million one-year …
The deal involves a $100 million subordinated loan
14 November 12:07 PM Egypt’s CIB to get $100m loan from EBRD Tuesday
Cairo – Mubasher: The Commercial International Bank – Egypt (CIB) is set to sign a deal with the European Bank for Reconstruction and Development (EBRD) on Tuesday. The deal involves a $100 million subordinated loan that will be given to CIB. “The …
Invest Bank became a main shareholder in Amanat
14 November 11:40 AM Invest Bank raises stake in UAE's Amanat; Astro AD Cayman exits
Dubai – Mubasher: The Dubai Financial Market (DFM) on Tuesday carried out two major transactions for a combined 340 million shares in Amanat Holdings, which account for 13.6% of the company’s shares in consideration of AED 414.45 million Following …
KSA to establish bank for supporting SMEs – Minister
14 November 11:03 AM KSA to establish bank for supporting SMEs – Minister
Riyadh – Mubasher: Saudi Arabia plans to establish specialised bank to support small and medium enterprises (SMEs), in addition other financing solutions which the country will support this sector by them, Majed Al Kassabi, the Saudi Minister of …
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13 November 04:45 PM EBRD, Banque Misr agree $125m deal
Cairo - Mubasher: Banque Misr will sign a $125 million finance agreement with the European Bank for Reconstruction and Development (EBRD), according to the bank’s vice chairman. The agreement is divided between two tranches, a $75 million loan for …
13 November 02:03 PM Egyptian banks delay giving EGP 2.5bn loans for Saudi firms – Sources
Cairo – Mubasher: Some banks in Egypt postponed giving loans at a value of EGP 2.5 billion for Saudi companies. Delaying the loans was attributed to arresting some firms’ owners, 11 princes, number of former ministers, and four current ministers …