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The project comprises two network extensions to inter-connect 7 semi-permanent plants
1 hour ago UAE's Empower awards AED 100m contracts for network extension at DPC
UAE - Mubasher: Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, on Sunday announced that it has awarded contracts valued at over AED 100 million to extend its cooling service pipeline …
The company’s capital will be raised by EGP 19.32 million
2 hours ago Speed Medical’s board nods to capital raise through bonus shares
Cairo – Mubasher: Speed Medical Co’s board of directors decided to increase the company’s capital to EGP 71.32 million. The board approved raising the company’s capital by EGP 19.32 million from retained earnings by issuing 0.3717 bonus share for …
The capital raise will be financed from retained earnings
2 hours ago Dice’s board approves EGP 53m capital raise
Cairo – Mubasher: Dice Sport and Casual Wear’s (Dice) board of directors approved increasing the company’s authorised capital to EGP 106 million from EGP 53 million. The capital will be raised by EGP 53 million distributed on 265 million shares by …
Jian Liu, CEO of Fang
3 hours ago China's top real estate internet platform launched in UAE
UAE - Mubasher: Fang, China’s leading real estate internet platform in terms of the number of page views and websites visitors, announced the launch of uae.fang.com, a dedicated portal for the UAE. The Chinese online platform, which is a part of …
The strategic alliance will offer their clients access to a wider and more flexible network
3 hours ago ADIB, Al Baraka Banking ink MoU for network expansion
Abu Dhabi - Mubasher: Abu Dhabi Islamic Bank (ADIB), a leading financial institution in the UAE, and the Bahrain-based Islamic multinational banking group Al Baraka Banking Group on Sunday announced the signing of a memorandum of understanding …
Trading will be resumed on Wednesday
5 hours ago EGX announces 23 July holiday
Cairo – Mubasher: The Egyptian Exchange (EGX) announced that it will be shut on Tuesday, 23 July, on the occasion of 23 July Revolution. Trading will be resumed on Wednesday, 24 July, the Egyptian bourse said in a statement on Sunday.
This move comes after the bank obtained SAMA's approval to open 20 branches in KSA
11:13 AM UAE’s Emirates NBD eyes expansion in Saudi Arabia
Dubai – Mubasher: Emirates NBD, a UAE-based leading banking group, announced it is looking to expand its footprint in Saudi Arabia. This major move comes after the bank obtained the Saudi Arabian Monetary Authority’s (SAMA) approval to open 20 …
The board of directors has not reached a final decision regarding this matter
10:55 AM FAB proposes removal of foreign ownership limit
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB), listed on the Abu Dhabi Securities Exchange (ADX), announced that it has discussed the removal of foreign ownership limit as a proposal during its board meeting. This proposal has been tackled for …
Trading on IFA’s stock has resumed on Sunday
10:40 AM IFA to offset KWD 57m accumulated losses; trading resumes
Mubasher: The shareholders of the International Financial Advisors (IFA) approved to offset the company’s accumulated losses of KWD 57.3 million as registered on 31 March 2019. During the ordinary general meeting (OGM) on Thursday, the …
Afnan and Dania are set to be delivered later this year
09:16 AM Two districts at Deyaar’s Midtown near completion
Dubai – Mubasher: Deyaar Development, a leading property developer based in the UAE, on Sunday announced it is nearing the completion of two districts within its Midtown community development. Located in Dubai Production City, the Midtown …
KIPCO’s authorised capital amounts to KWD 200m
18 July 11:25 PM KIPCO announces completion of capital hike issue
Mubasher: Kuwait Projects Holding’s (KIPCO) has announced the completion of the subscription in the company’s capital increase issue of 452.75 million shares. The Kuwait-listed company’s shareholders subscriptions exceeded the offered shares, …
The deal will come into force after meeting the customary conditions
17 July 01:17 PM Mubadala Petroleum inks farmout deal with UK’s Premier Oil
UAE – Mubasher: Mubadala Petroleum has signed an agreement to farmout the UK-based company Premier Oil a 20% participating stake in its gross production sharing contracts (PSCs); South Andaman and Andaman I, Emirates News Agency (WAM) reported. …
The company has not taken any final decision regarding any new investments
17 July 11:08 AM Opportunities in 2 sectors under evaluation - Amanat Holdings
Dubai – Mubasher: Amanat Holdings, listed on the Dubai Financial Market (DFM), announced that it is currently evaluating all investment opportunities available in the healthcare and the education sectors across the countries it operates in. The …
DSI appointed Saed Saabneh as the new group CFO
17 July 10:29 AM DSI appoints new CFO
Dubai – Mubasher: Drake & Scull International (DSI) on Wednesday announced the appointment of Saed Saabneh as the group’s new chief financial officer (CFO), according to a bourse filing. In June, DSI, listed on the Dubai Financial Market (DFM), …
Egy Lease is the leasing arm of Industrial Development & Workers Bank of Egypt
16 July 06:31 PM EIPICO rejects Egy Lease’s offer to acquire entire stake in MUP
By: Islam Fadl Cairo – Mubasher: Egyptian International Pharmaceutical Industries (EIPICO) has rejected an offer to acquire Egy Lease’s entire stake of 10.4% in Medical Union Pharmaceuticals (MUP), chairperson of Egy Lease, Iman Ismail, told …
Emaar to commence construction of ‘Breeze’ within Creek Beach District
16 July 02:15 PM Emaar to commence 1st residential cluster at Creek Beach District
Dubai – Mubasher: Emaar Properties is planning to commence construction of the first residential cluster ‘Breeze’ within its Creek Beach District development in Dubai. Creek Beach District, located in close proximity the Ras Al Khor Wildlife …
Ebtikar operates in non-banking financial sector
16 July 01:33 PM MM Group’s board nods to Ebtikar’s EGP 60m capital raise
Cairo – Mubasher: MM Group for Industry and International Trade’s board of directors has approved increasing its contribution to Ebtikar for Financial Investment’s capital by EGP 60 million. Accordingly, MM Group’s contribution to Ebtikar for …
Amlak seeks to reschedule repayments on $1.2 billion of loans with creditors
16 July 01:20 PM Amlak Finance nears restructuring of $1.2bn with creditors
Dubai – Mubasher: Amlak Finance, listed on the Dubai Financial Market (DFM), is close to signing a debt restructuring deal for a second time, two sources familiar with the matter told Bloomberg. The company seeks to reschedule repayments on $1.2 …
The UAE is one of the major markets for HSBC
16 July 12:02 PM HSBC eyes expansion in UAE
Abu Dhabi – Mubasher: HSBC, a leading global financial services company, is looking to boost its investments in the UAE over the coming period, CEO of global private banking at HSBC António Simões said. The UAE is one of the major markets for the …
Both entities will host workshops and meetings to boost cooperation between them
16 July 10:16 AM UAE’s DGCX, Nepal’s MDX ink knowledge exchange MoU
UAE – Mubasher: The Dubai Gold & Commodities Exchange (DGCX) and the Multi Derivatives Exchange Nepal (MDX) have signed a memorandum of understanding (MoU) to promote collaboration and knowledge exchange in areas of mutual benefit between the two …
ADNOC seeks to raise funds by attaching its natural gas pipelines in a similar deal
16 July 10:02 AM UAE’s ADNOC hires two in’tl banks for natural gas pipelines deal
UAE – Mubasher: The Abu Dhabi National Oil Company (ADNOC) has appointed Bank of America Merrill Lynch and Mizuho to arrange the lease of its natural gas pipeline assets, Reuters reported. ADNOC has also begun a major restructuring over the past …
Receivers were appointed to the Cayman Islands entity as an attempt to maintain the bank’s security
16 July 09:15 AM UAE’s CBD denies ownership of Spinneys Egypt
Dubai – Mubasher: The Commercial Bank of Dubai (CBD) on Tuesday confirmed it has provided Abraaj Holdings with a credit facility secured by a number of assets, including a legal charge over shares that controlled Spinneys Egypt. Receivers were …
Al Khodari will post FY18 financial results before the end of July
15 July 04:50 PM Al Khodari Sons to post FY18 financials before end of July
Riyadh – Mubasher: Abdullah Abdul Mohsen Al Khodari Sons Company (Al Khodari) expects announcing the financial results of full-year 2018 before the end of July. The company noted that it was unable to disclose its financials on time due to working …
The company's net profits amounted to EGP 127.87 million in Q1-19
15 July 12:48 PM Egypt’s FRA approves Sarwa Capital’s sukuk securitisation business
Cairo – Mubasher: Sarwa Capital Holding for Financial Investments announced that its unit Sarwa Sukuk Company has obtained a sukuk securitisation licence from the Egyptian Financial Regulatory Authority (FRA). The Sharia-compliant sukuk issuance …
This key step comes as an attempt to meeting market demands
15 July 10:54 AM Aldar unveils new post-handover payment plans across Abu Dhabi
Abu Dhabi - Mubasher: Aldar Properties, a leading property developer in the UAE, on Monday announced the launch of a new offering designed to help customers buy the most suitable homes to them. The new post-handover payment plans will provide …