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Etisalat became MENA's 1st operator to introduce 5G tech
2 hours ago Etisalat conducts 1st end-to-end 5G standalone call in MENA
Mubasher: Etisalat has completed the first end-to-end 5G standalone call in the Middle East and North Africa region in the UAE, Emirates News Agency reported on Saturday. The recent announcement followed the completion of a test conducted in the …
Jazeera Airways operates a 10-aircraft Airbus fleet
4 hours ago Jazeera Airways receives 2nd Airbus A320neo aircraft
Mubasher: Jazeera Airways received its second Airbus A320neo aircraft, according to a company statement released on Saturday. Fitted with Jazeera’s new three-cabin configuration, the new fuel-saving and quieter engine aircraft will include the …
The facilities will be used in financing the company’s current and future activities
17 October 04:55 PM KAMCO signs KWD 5m loan deal with local bank
Mubasher: KAMCO Investment Company signed a KWD 5 million credit facility agreement with a Kuwaiti bank. The facilities will be used in financing the company’s current and future activities, according to a bourse filing on Thursday. KAMCO eyes to …
Ebtikar’s stake in Masary will be raised to 65.5%
17 October 04:48 PM Ebtikar acquires additional stake in Masary
Cairo – Mubasher: Ebtikar for Financial Investment, a joint venture between MM Group for Industry and International Trade and B Investments Holdings, has acquired an additional stake of 5.9% in Masary for EGP 25.9 million. Accordingly, Ebtikar’s …
Customers can redeem EMR tokens in Emaar’s real estate, hotels, e-commerce operations, and malls
17 October 03:57 PM Emaar to launch blockchain-based loyalty platform end-2019
Dubai – Mubasher: Emaar, the Dubai-based property developer, announced that it will launch EMR, a new blockchain-based referral and loyalty platform, by the end of 2019. The new platform will reward customers of the global real estate firm with …
Badr City Authority has allocated 76.5 feddans to the company
17 October 03:49 PM Cairo Investment obtains EGP 500m land plot in Badr City
By: Islam Fadl Cairo – Mubasher: Cairo For Investment and Real Estate Development said that it has paid 10% of the total value of the land obtained from Badr City Authority. Badr City Authority has allocated 76.5 feddans at about EGP 1,490 for …
NATPET received insurance compensation installments of SAR 330.67 million
17 October 03:07 PM Alujain unit to commence production at polypropylene plant in December
Riyadh – Mubasher: Alujain Corp’s unit, National Petrochemical Industrial Company (NATPET), announced that it will commence production at its polypropylene plant (PP) in December, following the fire incident that took place during the fourth …
Egypt does not owe Shell any arrears
17 October 02:50 PM Shell plans to start operating concessions in Egypt in H2-20
Cairo – Mubasher: Royal Dutch Shell plans to begin operating its concession areas in Egypt during the second half of 2020, the executive vice president upstream JVs at Shell, Gerald Schotman, told Reuters. In addition, Shell applied to participate …
Shaker plans to retrofit more than 250,000 existing government buildings
17 October 02:10 PM Shaker to retrofit over 250,000 existing government buildings – Interview
By: Mahmoud Salah El-Deen Riyadh – Mubasher: Al Hassan Ghazi Ibrahim Shaker plans to retrofit more than 250,000 existing government buildings, in addition participating in some of KSA’s strategic projects such as Neom and Red Sea, Azzam Saud …
The consortium settled disputes with Misr Company for Sound and Light
17 October 01:13 PM Orascom Investment reaches settlement with Sound and Light Company
Cairo – Mubasher: Orascom Investment Holding (OIH) said that its subsidiary Orascom Pyramids Entertainment signed a settlement agreement concerning a contract for running and developing sound and light shows at the pyramids of Giza.   Orascom …
Tejari/JAGGAER will support DIB to digitally transform their procurement processes via its JAGGAER ONE
17 October 12:41 PM DIB, Tejari JAGGAER collaborate to enhance automating procurement processes
Dubai - Mubasher: Tejari/JAGGAER, the world’s leading independent spend management company, announced that it has entered a three-year strategic partnership with Dubai Islamic Bank (DIB) to help the bank become a leader in automating standard …
Both parties will be assessing and evaluating strategic opportunities for cooperation
17 October 11:57 AM ADNOC, Russia’s REA pens strategic framework agreement
UAE - Mubasher: The Abu Dhabi National Oil Company (ADNOC) announced it has signed a comprehensive strategic framework agreement with the Federal State Budgetary Organization 'Russian Energy Agency' by the Ministry of Energy of the Russian …
The project aims to improve SSTPC’s ethylene annual capacity to 1.3 million tonnes
17 October 11:27 AM Construction works start at SABIC-Sinopec ethylene project in China
Riyadh – Mubasher: Construction works at China’s Sinopec-SABIC Tianjin Petrochemical Company Ltd (SSTPC) started on 14 October, Reuters reported, citing the company’s statement. The project aims to improve SSTPC’s ethylene annual capacity to 1.3 …
The project’s total cost amounted to SAR 290.4 million
17 October 11:05 AM BCI inks SAR 290m letter of intent with Al Hajri Corp
Riyadh – Mubasher: Basic Chemical Industries Company (BCI) has signed a letter of intent with Nasser Saeed Al Hajri and Partners Contracting Company, as a general contractor for the chlorine production project in Jubail Industrial City. Under the …
ABB will display all aspects of Digital Powertrain Monitoring services at Wetex Dubai
17 October 10:51 AM ABB to showcase digital Powertrain monitoring services at WETEX Dubai 2019
UAE – Mubasher: ABB, Group, a global digital technologies provider, announced it will showcase its ABB Ability™ Digital Powertrain, a suite of digital solutions including devices, software, and services, at WETEX Dubai 2019. ABB Ability™ Digital …
CEO Middle East of Savills, Steve Morgan
16 October 04:54 PM Savills launches new service for 1st time in Mideast business
Mubasher: Savills announced offering new building and project consultancy services, for the first time, across its Middle East operations. The global agency’s new edge follows regional inbound expansions from several businesses, including …
ENOC to open two additional services station in Sharjah by the end of 2019
16 October 04:13 PM ENOC opens new stations in Sharjah
UAE - Mubasher: Emirates National Oil Company (ENOC Group), a global diversified energy group, on Wednesday announced it has recently expanded in Sharjah with the opening of three service stations. This comes as part of ENOC’s plans to expand its …
The new JV will boost the growing low-cost travel market segment in the region
16 October 03:39 PM Etihad, Air Arabia collaborate to establish Abu Dhabi’s 1st low-cost carrier
UAE – Mubasher: Etihad Aviation Group and Air Arabia on Wednesday announced they have signed an agreement to launch ‘Air Arabia Abu Dhabi’, the first low-cost carrier in Abu Dhabi. Under the agreement, both parties will collaborate to form an …
The carrying value of this offer totals KWD 8.36 million
16 October 02:33 PM Boubyan Petrochemical receives KWD 21m offer to sell stake in Nafais
Mubasher: Boubyan Petrochemical Company received an offer to sell its entire 21.12% stake in Nafais Holding Company.   The total value of the offer is KWD 21 million or KWD 1 per share, according to a recent bourse statement on Wednesday. The …
Mubadala will remain the majority shareholder in Cepsa with a shareholding of 63%
16 October 01:53 PM Mubadala sells 37% stake in Spain’s Cepsa
UAE – Mubasher: Mubadala Investment Company, the Abu Dhabi-based sovereign investor, announced that it has sold a 37% stake in the Spanish oil and gas company Compañía Española de Petróleos (Cepsa) to funds affiliated to The Carlyle Group, a …
The work on the project started on 15 September 2019
16 October 01:11 PM Edamah inks BHD 4.5m deal with Khaleeji Commercial Bank
Mubasher: Bahrain Real Estate Investment Company (Edamah) has concluded a BHD 4.5 million financing agreement with Khaleeji Commercial Bank (KHCB) to fund the development of Edamah’s Salmaniya Medical Complex multi-story carpark.   Scheduled to be …
The hotel will feature 380 rooms and suites
16 October 01:07 PM Kempinski Hotels launches new luxury project in Makkah
Riyadh – Mubasher: Kempinski Hotels has launched its new luxury project in Makkah, Kempinski Hotel Makkah, in Saudi Arabia. The project will be launched with a partnership with Umm Al Qura for Development and Construction Company (UAQ). The new …
The signed agreements will cover a number of central sectors to the Russian economy
16 October 12:17 PM Russia’s RIDF, Mubadala ink 6 collaboration agreements
UAE - Mubasher: The Russian Direct Investment Fund (RDIF) and the UAE’s sovereign investor Mubadala Investment Company on Wednesday announced they have signed six collaboration agreements as part of their successful long-term investment …
Business Park Phase 2 is set to be delivered on schedule in February 2020
16 October 10:42 AM Union Properties' Business Park Phase 2 on track for scheduled delivery
Dubai – Mubasher: Union Properties, a leading property developer in the UAE, announced that it has completes 30% of the second phase of Dubai Autodrome Business Park. Business Park Phase 2 is set to be delivered on schedule in February 2020, …
The sukuk has a coupon rate of 3.875%
16 October 09:39 AM Aldar’s unit raises $500m in sukuk placement
Abu Dhabi - Mubasher: Aldar Investment Properties, a wholly-owned subsidiary of Aldar Properties, announced it has raised a nominal amount of $500 million by placing a fixed rate US dollar-denominated sukuk with a tenor of 10 years. The …