Companies Investments

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5 hours ago Amana Cooperative Insurance applies for capital hike
Riyadh - Mubasher: Amana Cooperative Insurance has filed a request to the Capital Markets Authority of Saudi Arabia (CMA) to raise its capital. Amana is seeking to increase its capital, and it has appointed the National Commercial Bank’s NCB …
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14 August 05:41 PM SAPTCO’s subsidiary obtains SAR 59m loan
Riyadh - Mubasher: Saudi Public Transport Company (SAPTCO) announced on Tuesday that its subsidiary Public Transport Company has acquired a SAR 59 million murabaha finance for six months from the Arab National Bank. The murabaha loan deal will …
KAMCO intends to buy around 396.43 million shares from Global
14 August 04:30 PM KAMCO to acquire 70% of Global Investment House
Mubasher: KAMCO Investment (KAMCO) on Tuesday announced receiving the approval of the Capital Markets Authority (CMA) to acquire the majority of Global Investment House (Global). KAMCO intends to buy around 396.43 million shares from Global, which …
Damac Properties’ chief financial officer Adil Taqi
14 August 02:04 PM Damac’s liquidity hits AED 7bn – CFO
By: Mahmoud Gamal  Dubai – Mubasher: Damac Properties’ chief financial officer, Adil Taqi, told Mubasher that his company’s financial status is strong, with total liquidity of AED 7 billion, despite the challenges that have been facing Dubai’s …
The MoU aims at establishing a new passenger terminal at King Abdulaziz International Airport
14 August 12:14 PM Jabal Omar, Ground Services extend terminal MoU
Riyadh – Mubasher: Jabal Omar Development Company on Tuesday announced that it has extended a non-binding memorandum of understanding (MoU) with Saudi Ground Services Company (SGS) for one more year until 22 February 2019. The MoU aims at …
Two UAE lenders arrange $500m loan for Telecom Egypt
14 August 10:47 AM Two UAE lenders arrange $500m loan for Telecom Egypt
Mubasher: Cairo-based Telecom Egypt is raising a $500 million syndicated loan to boost operating and capital expenses, the UAE-based banks leading the transaction said. The five-year facility arrangers, First Abu Dhabi Bank and Mashreq Bank, have …
The 15-month deal will be added to the company’s infrastructure projects
14 August 09:36 AM Arabtec wins AED 155m infrastructure project in Dubai
Dubai – Mubasher: Arabtec Holding unveiled that its subsidiary, Arabtec Engineering Services, has been awarded an AED 155 million contract by Dubai Municipality for its DS189 work on sewerage and drainage infrastructure in Al Khawaneej area. The …
The World comprises 300 artificial islands
13 August 04:34 PM Kleindienst Group launches Sweden Beach Palace in Dubai
Dubai - Mubasher: Kleindienst Group, the developer of The Heart of Europe, has unveiled the first Sweden Beach Palace at Sweden Island. The Heart of Europe is a cluster of six islands based on destinations across Europe including islands of …
The financial impact will be registered in Q3-18 financials
13 August 02:44 PM Aayan Leasing receives full deal value of investments in Oman
Mubasher: Aayan Leasing and Investment announced it has received the entire value of selling investments in Oman as disclosed on Sunday. Aayan Leasing’s direct share in this exit transaction stands at KWD 2.9 million, while it will register about …
The project will cater to technology fanboys
13 August 01:54 PM Dubai to house world’s largest retail area at $2bn investment
Dubai – Mubasher: Dubai Holding and Emaar Properties will launch Dubai Square, a new $2 billion retail city in Dubai Creek Harbour.  Situated on 2.6 million square metres, the new project comprises a futuristic retail, hospitality, and residential …
"We purposely searched to have the hospital in Khalifa City"
13 August 12:46 PM Khalifa City to see new maternity hospital
Abu Dhabi – Mubasher: Khalifa City in Abu Dhabi is set to house a new dedicated maternity hospital. The new European Maternity Hospital will offer maternity services for families, women, and infants, according to a company statement. "We purposely …
The new venture will feed Aramco’s Jazan refinery and terminal on the Red Sea coast.
13 August 12:28 PM Saudi Aramco partners with Air Products, ACWA Power to implement $8bn gasification project
Riyadh – Mubasher: State-run Saudi Aramco has signed an agreement with ACWA Power and US-based Air Products to implement an $8 billion gasification and power joint venture in Saudi Arabia. Set to be located in the oil-rich kingdom’s Jazan Economic …
“Pakistan and UAE share long-standing trade ties"
13 August 12:24 PM Emirates Islamic reinforces presence in Pakistan
Dubai - Mubasher: Emirates Islamic Bank (EIB) has launched its 60-second online fund transfer service “QuickRemit” in Pakistan on the South Asian country’s Independence Day. EIB’s Pakistani customers will be able to conduct QuickRemit transfers to …
The situation in Turkey will have its repercussions in the GCC economies
13 August 11:59 AM Turkish crisis keeps special presence in UAE markets
By: Mahmoud Gamal Dubai – Mubasher: The diplomatic spat between Turkey and the US has stolen the limelight from the disclosures in the UAE markets. This tension began when Turkey refused to release an American evangelical pastor accused of being …
The oil-rich kingdom has a raft of raw materials that will help in building this city
13 August 11:34 AM Saudi Arabia to build auto manufacturing city
Riyadh – Mubasher: Saudi Arabia will begin establishing a car manufacturing city in the coming period, along with providing a slew of advantages and incentives for investors, the Ministry of Energy, Industry and Mineral Resources said. The …
The deal’s value may reach $2.27bn after a 28% plunge in the Turkish Lira
13 August 11:29 AM Emirates NBD may save $1bn in Turkish deal on Lira plunge
Dubai – Mubasher: Emirates NBD may save as much as $1 billion in its deal to acquire Turkey’s Denizbank due to the decline in the European country’s currency. The deal’s value, which has stood at $3.2 billion on 22 May, may reach $2.27 billion …
The financial impact of selling this equity will be registered in Q3 financials
12 August 04:50 PM Kuwait’s Aayan Leasing, Mubarrad exit $4m stakes in Omani firms
Mubasher: Aayan Leasing and Investment announced that it made an agreement with Mubarrad Holding Co to sell their stakes in three Omani companies. The assets are valued at KWD 3.9 million ($12.9 million) and are considered part of selling Aayan …
Noor currently owns 39.53% equity in Meezan Bank
12 August 04:15 PM Noor exits $6m stake in Pakistan’s Meezan Bank
Mubasher: Noor Financial Investment announced selling 9 million shares or 0.85% of its equity ownership in Meezan Bank, Pakistan's first and largest Islamic bank. The equity transaction is valued at $5.57 million or KWD 1.68 million, according to …
The firm will use the loan in financing its operating capital
12 August 04:09 PM Saudi Marketing renews SAR 204m loan deal with NCB
Riyadh – Mubasher: Saudi Marketing Company (Farm Superstores Co) on Sunday renewed a credit facility agreement with the National Commercial Bank (NCB) at a value of SAR 203.51 million. The finance period extends from April 2018 until the end of …
The project is expected to be completed on 6 June 2019
12 August 10:12 AM Saudi German Hospital finishes 38% of Dammam hospital
Riyadh – Mubasher: Saudi Arabia-based Middle East Healthcare Company (Saudi German Hospital) has announced completing about 38% of establishing its new hospital in Dammam. The project’s actual work started on 7 December 2016, while it is expected …
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9 August 09:17 PM dnata acquires Germany’s Tropo
Dubai - Mubasher: dnata announced on Thursday that it has acquired Tropo, a Germany-based tour operator that will be its entry to the German market and extends its global network of travel businesses. The purchase agreement also includes TV media …
KFIC expected a return ranging from 11% to 12%
9 August 05:55 PM KFIC acquires KWD 890,000 portfolio
Mubasher: Kuwait Finance and Investment (KFIC) has signed an agreement with a leading company in the retail business in Kuwait to acquire a client portfolio valued at about KWD 890,000 in installments. KFIC expected a return ranging from 11% to …
Mashreq Bank, GE, Trade Bank of Iraq ink major electricity deal
9 August 02:50 PM Mashreq Bank, GE, Trade Bank of Iraq ink major electricity deal
Dubai – Mubasher: Mashreq Bank has announced entering into a strategic deal to develop power projects in Iraq. The deal signed by the Dubai-based bank along with General Electric (GE) and the Trade Bank of Iraq for the development will help …
DAMAC Properties and Radisson signed a luxury hotel deal in Dubai
9 August 11:47 AM DAMAC, Radisson ink luxury hotel deal in Dubai
Dubai – Mubasher: DAMAC Properties has signed an agreement with Radisson Hotel Group to open the first Radisson-branded luxury hotel in the Middle East at the DAMAC Hills Development in Dubai. Currently under construction, the hotel is slated for …
RAK Ceramics is planning to invest over AED 300 million in 2018
9 August 11:21 AM RAK Ceramics eyes AED 300m deals in 2018 - CEO
Abu Dhabi – Mubasher: Ras Al Khaimah Ceramics (RAK Ceramics) is planning to invest over AED 300 million ($81.69 million) through acquisitions and expansion in 2018, a top official has said. We expect our profits to remain stable by the end of the …