Companies Investments

UAE's Mubadala to expand agribusiness via mergers, acquisitions
21 June 07:01 PM UAE's Mubadala to expand agribusiness via mergers, acquisitions
Abu Dhabi – Mubasher: Mubadala Group has announced plans to expand its agriculture and farming business by merging and acquiring two companies operating in the field of aquaculture. “Mubadala took the decision last year to build its presence in …
21 June 05:50 PM Naqvi dismisses intentional wrongdoing at Abraaj
Dubai – Mubasher: Abraaj Group, the Dubai-based private equity firm, has been facing a backlash following money misusage allegations. Earlier in June, the buyout firm filed for liquidation, as a response to a group of liquidation petitions. The …
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21 June 05:36 PM Eni sells 10% of Zohr to Mubadala
Mubasher: Eni sold a 10% stake in the Shorouk concession to Mubadala Petroleum. The Shorouk concession is offshore Egypt, where the supergiant Zohr gas field is located, according to the company’s statement. Eni now holds a 50% stake of the …
Staff in eight offices will be relocated as part of the agreement
21 June 05:04 PM Abraaj to sell key funds to US asset manager Colony Capital
Mubasher: The UAE company Abraaj will sell some of its key funds to Colony Capital as the Dubai-based private equity firm attempts a court-supervised restructuring amid allegations of misused funds, as reported by Arabian Business. “The US asset …
The Italian energy firm has allocated 70% of its overseas investments in Egypt
21 June 03:49 PM Italy’s Eni to invest $3bn in Egypt
Cairo – Mubasher: The Italian multinational oil and gas Eni aims to invest $3 billion in Egypt over the coming period, CEO Claudio Descalzi said. He added that the company’s investments in the fields of Nooros and Zohr stood at $8.4 billion now, …
La Mer will offer a variety of shopping and entertainment choices
21 June 02:04 PM Rove Hotels unveils La Mer in Dubai’s beachfront
Dubai – Mubasher: Rove Hotels has revealed Rove La Mer resort, which is planned to be built in Dubai’s beachfront development. The new project will comprise 366 rooms and is scheduled for inauguration in mid-2020, according to a company statement. …
This liquidity is expected to ease procedures of listing large companies which may be listed soon
21 June 01:06 PM Saudi bourse eyes attracting $40bn investments after joining MSCI EM index – CMA
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) is looking to attract around SAR 150 billion ($40 billion) in foreign cash inflows after its inclusion in the MSCI Emerging Markets (EM) Index, the Saudi Capital Market Authority’s (CMA) …
The project will also comprise a G+2 level shopping mall
21 June 12:47 PM Dubai Investments’ JV to complete AED 460m project ahead of schedule
Dubai – Mubasher: Dubai investments Company (DIC) has announced that the AED 460 million Fujairah Business Centre project, which is developed by DIC’s joint venture (JV) Al Taif Investment, is progressing ahead of schedule. Al Taif Investment …
The main impact will be limited to Air Arabia’s book value
21 June 11:18 AM Air Arabia’s stock plunges on Abraaj-related statement
By: Bedour Al Raee Dubai – Mubasher: Air Arabia’s stock tumbled on Thursday following a statement in which the Dubai-listed company revealed that it has an overall exposure of $336 million to the UAE-based private equity firm Abraaj. By 11:20 am, …
Abraaj has been facing a slew of problems
21 June 11:08 AM Air Arabia appoints legal representative to protect investments in Abraaj
Dubai – Mubasher: Dubai-listed  Air Arabia announced that it has an overall exposure of $336 million to the UAE-based private equity firm Abraaj. The Emirati carrier has appointed a legal representative to protect its investments in the troubled …
The oil-rich kingdom has held discussions with 20 local and overseas firms
21 June 11:02 AM Saudi Arabia grants investment licences for 3 int'l firms with 100% ownership
Riyadh – Mubasher: Saudi Arabia will issue business licences to three international companies operating in the information technology (IT) and telecommunications sector with a 100% ownership. US tech giant Apple, China's ZTE Corporation, and …
The upgrade will improve the Saudi capital market by increasing investments
21 June 10:18 AM Tadawul's MSCI EM inclusion attracts investment, spurs private sector – Minister
Riyadh – Mubasher: The Saudi Stock Exchange's (Tadawul) inclusion in the MSCI Emerging Markets (EM) Index will boost liquidity in the bourse and highlights Tadawul's efforts to be in line with global best practices, commerce and investment …
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20 June 07:17 PM Aldar reveals new Viceroy-branded project
Abu Dhabi - Mubasher: Aldar Properties announced that it was working with Viceroy Hotel Group on a Viceroy branded property in Abu Dhabi. “We are pleased to continue our relationship with Viceroy Hotel Group on this hospitality project in line …
The two Qatari banks may reveal their consolidation deal next week
20 June 05:23 PM Barwa Bank, IBQ hold merger talks
Mubasher: Barwa Bank and International Bank of Qatar (IBQ) are in advanced talks to merge after discussions for a three-way merger with Masraf Al Rayan collapsed last week. The two Qatari banks may reveal their consolidation deal next week, …
UAE’s Depa Limited to carry out SAR 82m transport project in Saudi Arabia
20 June 05:19 PM UAE’s Depa Limited to carry out SAR 82m transport project in Saudi Arabia
Mubasher: UAE-based Depa Interiors has announced that its subsidiary, Depa Limited, won a SAR 81.9 million (more than AED 80 million) contract to implement a large transport project in Saudi Arabia. The deal is considered Depa Limited’s second …
Rotana Hotel Management’s operational portfolio reached 16,964 keys
20 June 05:17 PM Rotana Hotel closed management deal for 2 towers in Dubai, Bosnia
Abu Dhabi – Mubasher: ​ Abu Dhabi-based Rotana Hotel Management has closed an agreement to manage hotels in Dubai and Sarajevo, the capital of Bosnia and Herzegovina. The regional company will manage Cayan Tower in Dubai and another tower at the …
The credit classification of this sukuk program is at “A1” by Moody’s
20 June 04:36 PM KFH gets Kuwait C.bank nod to $1bn sukuk issue
Mubasher: Kuwait Finance House (KFH) has obtained the final agreement by the Central Bank of Kuwait (CBK) of the first issue of $1 billion or less sukuk out of a total $3 billion sukuk financing program. KFH noted, in a bourse statement on …
The UAE is advanced in every field except for telecoms
20 June 03:24 PM Telcom firms’ 'monopolistic mentality' delaying Dubai's smart ambition – Al Mulla
Mubasher: Monopolistic mentalities witnessed by the UAE telecom companies are currently hindering in the way of Dubai’s road for a smart city by 2021, as reported by Arabian Business, according to the UAE lawyer Habib Al Mulla, the founder and …
The industry’s sales are expected to hit EUR 390 billion globally by 2025
20 June 02:28 PM Dubai maintains foothold in global luxury market
Dubai – Mubasher: The global luxury market has seen positive trend since the beginning of 2018, which will drive the market to grow 6-8% at constant exchange rates to EUR 276-281 billion in the full year, according to Bain & Company, a global …
Noor Financial will own a stake of 42.94% in Meezan
20 June 02:19 PM Noor exits $21m equity in Pakistan’s Meezan Bank
Mubasher: Noor Financial Investment has announced the sale of 36.164 million shares in Pakistan’s Meezan Bank, according to a bourse statement on Wednesday. This equity represents 3.4% of the capital, valued at $21.27 million (KWD 6.42 million). …
Saudi Arabia to finish bidding for Salwa Canal construction next Monday
20 June 02:10 PM Saudi Arabia to finish bidding for Salwa Canal construction next Monday
Riyadh – Mubasher: Saudi Arabia is going ahead with construction operations of the Salwa Canal which will separate the kingdom from its Gulf neighbour Qatar. The final period for submitting bidding offers to participate in the project’s …
“We are delighted to work with Aldar to introduce W Hotels on Yas Island"
20 June 01:25 PM Aldar appoints Marriott International manager for Yas Island hotel
Abu Dhabi – Mubasher: Aldar Properties announced the appointment of Marriott International Hotel Company to manage Yas Island hotel. Located on Yas Island, the new hotel will see a refurbishment period before inauguration after W Hotels brand, …
The project will expand the container yard to 41 hectares
20 June 12:47 PM DP World closes deal to expand in Canada
Dubai – Mubasher: ​Dubai's DP World has closed an agreement with Port of Prince Rupert to expand its facilities at the DP World Prince Rupert Fairview Container Terminal. The UAE-based logistics giant will launch Phase 2B expansion, which is aimed …
The hotel offers flexible booking policy
20 June 11:41 AM Abu Dhabi Airports unveils new transit sleeping facility
Abu Dhabi – Mubasher: Abu Dhabi Airports has announced the opening of Aerotel’s new airport transit sleeping facility at the Abu Dhabi International Airport. The new development is Abu Dhabi Airports’ second facility operated by Aerotel of Plaza …
The new venture came in line with Taawun agreement
20 June 11:01 AM Du, Etisalat cooperate to develop ICT infrastructure in Dubai
Dubai - Mubasher: Du and Etisalat companies have unveiled an agreement with Dubai Properties to develop smart ICT infrastructure in its upcoming properties.  The new venture came in line with Taawun agreement concluded between both companies to …