Companies Investments

KSA’s PIF launches $50m fund – Al-Rumayyan
16 minutes ago KSA’s PIF launches $50m fund – Al-Rumayyan
Riyadh – Mubasher: The Saudi Public Investment Fund (PIF) on Tuesday will announce new economic initiatives, and it includes launching $50 million fund, PIF's managing director, Yasir Al-Rumayyan said. Saudi Arabia plans to expand in diversifying …
wasl1 Park Gate Residences incorporates four bridges
36 minutes ago wasl Asset Management sells 200 housing units
Dubai – Mubasher: wasl Asset Management Group announced the sale of 200 residential units in wasl1 Park Gate Residences project after a few hours of implementing the freehold system, Albayan newspaper reported Located on a one-million-square-foot …
Cisco Systems is the biggest networking gear manufacturer in the world
23 October 08:44 PM Cisco acquires BroadSoft in $1.9bn deal
Mubasher: Cisco Systems announced on Monday that it has reached an agreement to acquire BroadSoft for $1.9 billion, CNBC reported. The world’s largest networking gear manufacturer would pay $55 per share, in cash, the news network noted, adding …
ENOC directed nearly $10 million to environmental sustainability and energy saving in the last 8 years
23 October 07:30 PM ENOC rules out IPO, plans 20-yr extension for Dragon Oil contract
By: Amr Adel Dubai - Mubasher: Emirates National Oil Company (ENOC) is currently negotiating with the government of Turkmenistan to renew the contract of Dragon Oil Company for another 20 years, ENOC's CEO said on Monday. ENOC's current contract …
The deal's value could total AED 80 million
23 October 06:56 PM Imdaad closes in on AED 80m acquisition in Dubai
By: Amr Adel Dubai - Mubasher: Imdaad is close to completing the acquisition of a utilities company in Dubai before the end of 2017, the company’s head of operations said Monday. Mahmoud Hussien Rasheed told reporters on the sidelines of the 19th …
Jabal Omar invests SAR 1bn in in-kind stake in Alinma Makkah Real Estate Fund
23 October 03:50 PM Jabal Omar invests SAR 1bn in in-kind stake in Alinma Makkah Real Estate Fund
Riyadh – Mubasher: Jabal Omar Development on Monday said it invested SAR 1 billion in an in-kind stake in Alinma Makkah Real Estate Fund, and it will be deducted from the sale’s price. The fund was established to acquire three hotels and two …
More than 23 gigawatt-hours (GWh) of solar energy will be generated by 2020
23 October 03:11 PM ENOC to use solar energy in service stations
Dubai – Mubsaher: ​Emirates National Oil Company (ENOC) on Monday announced that all future service stations will be powered by solar energy, in line with the UAE’s long-term strategy to diversify energy sources, and the Dubai 2021 Plan to become …
Investcorp’s European strategy aims to create a portfolio of income-generating assets
23 October 02:19 PM Investcorp unveils GBP 40m real estate portfolio in UK
Mubasher: Investcorp on Monday announced the completion of its first European real estate portfolio following the acquisition of seven assets across the UK. The Bahrain-based global provider and manager of alternative investment products executed …
Chinese exports to North Korea rise 21% in 9M
23 October 02:09 PM Chinese exports to North Korea rise 21% in 9M
Mubasher: Chinese exports to North Korea surged more than 20% to reach $2.55 billion during the first nine months of 2017, whereas North Korean exports to China retreated 16.7%, Reuters on Monday reported, citing China Customs’ data as saying. …
The contract has a duration period of 18 months
23 October 12:55 PM Egypt Gas inks KWD 2.6m deal with Kuwait’s Al Rabiah
Cairo – Mubasher: Egypt Gas has signed a contracting agreement with the Kuwaiti firm Al Rabiah Construction Company (ARABCO) for KWD 2.6 million or EGP 152.17 million. This deal comes as part of Egypt Gas’ plan to expand outside Egypt, according …
Orascom Telecom to set up sound, light firm
23 October 12:36 PM Orascom Telecom to set up sound, light firm
Cairo – Mubasher: The board of Orascom Telecom Media and Technology Holding has agreed on establishing an Egyptian joint-stock company with the contribution of 124.2 million shares. This company will be set up for performing, designing, and …
Krypto Labs is a global business incubator located in Abu Dhabi
23 October 12:05 PM ADFG sets up AED 367m investment fund
Abu Dhabi – Mubasher: The Abu Dhabi Financial Group (ADFG) on Monday launched an AED 367 million ($100 million) investment fund to finance start-ups and creative ideas at Krypto Labs, a global business incubator. “Krypto Labs is an incubator of …
The new Carrefour Hypermarket is situated on 15,380 square metres of Yas Mall’s total area
23 October 12:03 PM Majid Al Futtaim Retail opens new Carrefour hypermarket in Abu Dhabi
Abu Dhabi – Mubasher: Yas Mall, the biggest shopping mall in Abu Dhabi, on Monday announced the inauguration of Carrefour Hypermarket, which is owned and managed by Majid Al Futtaim Retail. The new Carrefour Hypermarket is situated on 15,380 …
KGH is still receiving different offers from investors
23 October 11:48 AM KFH denies news on exiting stakes in Al Enmaa, GIH
Mubasher: Kuwait Finance House (KFH) has denied the recent news published by Al Qabas newspaper over selling the bank’s stakes in Al Enmaa Real Estate, according to a bourse statement issued on Monday. The bank added that it is still receiving …
Elsewedy’s EGM nods deal with EBRD, Proparco
23 October 11:43 AM Elsewedy, EBRD, Proparco to install solar plant in Aswan
Cairo – Muabsher: The extraordinary general meeting (EGM) of Elsewedy Electric Co has approved partnering with the European Bank for Reconstruction and Development (EBRD) and Societe de Promotion et de Participation pour la Cooperation Economique …
Total exit operations executed by KFH stood at KWD 46 million by H1-17
23 October 11:17 AM KFH receives offers to sell stakes in Al Enmaa, GIH
Mubasher: A well-informed source revealed that Kuwait Finance House (KFH) has received an offer to purchase its 55.6% stake in Al Enmaa Real Estate; however, KFH has not yet taken a decision regarding the proposed offers, according to Al Qabas …
Egypt’s Pharos establishes new headquarter in UAE
23 October 09:44 AM Egypt’s Pharos establishes new headquarter in UAE
By: Amr Adel Dubai – Mubasher: The Egyptian company Pharos Holding for Financial Investments announced the establishment of Pharos Gulf Limited as its new headquarter in the UAE. This step aims at attracting investors from the Gulf States to …
Dubai Town Square launches UNA apartments complex
23 October 09:31 AM Dubai Town Square launches UNA apartments complex
Dubai – Mubasher: Dubai Town Square launched UNA apartments complex project. The main lobby of the UNA apartments complex covers an area of 2,000 square metres, and it will include licenced zone for business. The new project is located near to …
The company is currently supplying Ducab SolarBICC cables to two solar power-generation projects in the region
22 October 05:58 PM Ducab unveils investments in UAE’s clean energy
Dubai – Mubasher: Ducab on Sunday revealed investments to support the UAE’s renewable energy agenda during Water, Energy, Technology and Environment Exhibition (WETEX 2017), paying a special attention to solar, nuclear and wind energy. Ducab …
No essential financial impact will affect FY17 financials
22 October 05:21 PM Mabanee to launch project in Bahrain late October
Mubasher: Mabanee Co has scheduled 28 October to launch The Avenues Complex in Manama, Bahrain. The Kuwaiti company clarified that its 100%-owned subsidiary Mabanee Bahrain acquires 35% in The Avenues project, according to a bourse statement …
Officials from Maaden and Bangladesh sign the deal
22 October 05:07 PM Maaden inks Bangladesh fertiliser deal
Riyadh – Mubasher: Saudi Arabian Mining (Maaden) on Sunday announced signing a deal with Bangladesh’s Ministry of Agriculture and the Bangladesh Agricultural Development Corporation (BADC) to export diammonium phosphate (DAP) in 2018. Maaden is …
Over the next 5 years, Emaar Development plans to launch around 50,400 units
22 October 03:49 PM Emaar Properties to proceed with unit’s 20% IPO, launch 50,000 units over 5 yrs
Dubai – Mubasher: Emaar Properties on Sunday announced that it was planning to proceed with the initial public offering (IPO) of its build-to-sell (BTS) property development business, Emaar Development LLC on the Dubai Financial Market (DFM). The …
This new company comes as part of TADCO’s plan to increase its capital
22 October 02:06 PM Tabuk Agriculture establishes SAR 25m firm
Riyadh - Mubasher: Tabuk Agriculture Development Company (TADCO) on Sunday announced the establishment of a closed company for its compound cattle and animal feed plant. The new company’s capital amounts to SAR 25 million, TADCO said in a …
Based in Sharjah, the UAE, the UAB is listed on the Abu Dhabi Securities Exchange (ADX)
22 October 12:21 PM Tabarak Investment eyes CBQ’s 40% stake in UAB
Doha – Mubasher:  The Commercial Bank of Qatar (CBQ) on Sunday announced that Tabarak Investment, a subsidiary of Tabarak Commercial Trade, expressed its interest in buying the CBQ’s share in the United Arab Bank (UAB). Earlier in October, the UAB …
Aramex aims to “reduce operational CO2 emissions and mitigate the climate change”
22 October 10:56 AM Aramex adds 10 electric vehicles to Jordan fleet
Dubai – Mubasher: International express, mail delivery, and logistics company Aramex on Sunday announced adding 10 electric vehicles (EV) to its fleet in Amman, Jordan. With the successful rollout in Jordan, this step is part of a strategic plan …