Mubasher: Bahrain's Arab Banking Corporation (Bank ABC) finalised the acquisition of Blom Bank’s unit in Egypt for $480 million, two banking sources told Reuters on Thursday. All physical and non-physical assets and customer accounts are included …
Cairo – Mubasher: Balances and reserves held by Egyptian banks abroad leapt to more than $20 billion at the end of December 2020 from about $10 billion at the end of April, a senior official at the Central Bank of Egypt (CBE) told the Middle East …
Cairo – Mubasher: The Egyptian President Abdel Fattah El-Sisi issued a decree, approving a grant worth EUR 200,000 from the Spanish Agency for International Cooperation and Development (AECID). The grant will finance a programme for creating jobs …
Cairo – Mubasher: Egypt signed an agreement with the International Islamic Trade Finance Corporation (ITFC) to obtain a funding package of $1.1 billion to finance the purchase of basic commodities and petroleum products. The funding is aimed at …
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 20 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 7.5 …
Mubasher: International Financial Advisors (IFA) has announced a precautionary seizure by one of the local banks on the company due to an owed amount of KWD 8.8 million ($29 million). The debt amount is subject to a dispute between the company and …
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) is aiming to obtain a loan worth $7.5 billion for potential investors in its oil pipelines, Bloomberg reported on Tuesday, citing people familiar with the matter. The oil giant has …
Cairo – Mubasher: Qatar National Bank Al Ahli (QNB Al Ahli) logged EGP 7.49 billion in consolidated net profits during 2020, down by 12.09% year-on-year (YoY) from EGP 8.52 billion, including minority shareholders’ rights. On the other hand, the …
Cairo – Mubasher: The Central Bank of Egypt (CBE) has issued a decision to ban banks from paying dividends to shareholders. The decision is aimed at protecting the capital of banks against the potential risks of the coronavirus (COVID-19) crisis, …
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has issued this year's first CNY 1.5 billion ($232 million) five-year Formosa bond at a 3.15% coupon, according to a press release on Tuesday. This transaction has the lowest coupon on a five-year …
Riyadh – Mubasher: Credit Suisse has inaugurated its branch in Riyadh to promote wealth management services in Saudi Arabia, according to a press release on Monday. The new branch will enable its clients in Saudi Arabia to benefit from an extended …
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills and bonds worth EGP 21 billion on Monday on behalf of the Ministry of Finance. The first tranche of the T-bills will be offered through 91-day notes valued at EGP 4.5 …
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has issued a five-year Sukuk worth $500 million through FAB Sukuk Company Limited, according to a press release on Monday. The Sukuk was issued at MS+90bps and with an all-in yield of 1.411%, …
Riyadh – Mubasher: Saudi Automotive Services Company (SASCO) has signed a Shariah-compliant bank facilities worth SAR 630 million with Al-Rajhi Bank, according to the company's disclosure to the Saudi Stock Exchange (Tadawul) on Sunday. The …
Riyadh – Mubasher: The Saudi Arabian Amiantit Company announced the full settlement of its loans with Samba Financial Group, Bank Aljazira, Gulf International Bank, Al Baraka Islamic Bank (Bahrain), and Arab Banking Corporation (Bahrain). The …
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 19.25 billion on Sunday on behalf of the Ministry of Finance. The first tranche of the T-bills will be offered through 182-day notes valued at EGP 7 …
Riyadh – Mubasher: The National Debt Management Center (NDMC) signed last week a memorandum of cooperation (MoC) with Japan's Nippon Export and Investment Insurance (NEXI). The MoC aims to expand the opportunities of financing government projects …
Doha – Mubasher: Standard Chartered expected Qatar’s economy to grow by 3% this year as the easing of a three-year-old regional dispute will help trade, tourism, and logistics, Reuters reported. The British lender had revised its previous 2.1% …
Dubai – Mubasher: Emirates NBD said it issued on 6 January 2021 senior five-year bonds worth $750 million. The bonds will settle on 13 January 2021 and mature on 13 January 2026, the bank said in a statement to the Dubai Financial Market (DFM) on …
Cairo – Mubasher: The US dollar exchange rate dropped against the Egyptian pound by EGP 0.04 in the first week of 2021 as foreign reserves rose to more than $40 billion. According to data by the Central Bank of Egypt (CBE), the average exchange …
Dubai – Mubasher: Dubai’s third-biggest lender, Mashreq Bank, plans to move nearly half of its employees to cheaper locations and allow some others to work from home as part of a reorganisation that will spare its Emirati staff, Bloomberg said on …
Cairo – Mubasher: Egypt's bank deposits grew by 17.4% year-on-year (YoY) to EGP 4.686 trillion during fiscal year 2019/2020, according to a report by the Central Agency for Public Mobilization and Statistics (CAPMAS) on Wednesday. Household …
Riyadh – Mubasher: The Saudi Ministry of Finance (MoF), represented by the National Debt Management Center (NDMC), penned a long-term financing agreement with South Korea’s Korea Trade Insurance Corporation (K-SURE). CEO of NDMC, Fahad A. Al-Saif, …
Riyadh – Mubasher: Saudi Arabia's cash liquidity -M3 money supply- rose by 7.75% or SAR 153.85 billion yearly in the first eleven months of 2020 to reach an all-time high. The kingdom’s cash liquidity amounted to SAR 2.139 trillion in the …
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued new instructions for banks to expedite the transfers denominated in the Egyptian pound as part of the country’s efforts towards digital transformation. Banks will receive digital transfer …
