Companies Investments

Mubadala also withdrew from negotiations with lenders
24 June 03:08 AM Mubadala pulls out of Etisalat Nigeria
Abu Dhabi - Mubasher: Abu Dhabi state investment fund (Mubadala) has decided to pull out of Etisalat Nigeria after the company failed to reach an agreement regarding its $1.2 billion loan with Nigerian banks. The company took the loan four years …
Umm Al Houl's production capacity is about 136 million gallons of water daily
22 June 05:00 PM Umm Al Houl provides 15% of Doha’s water needs – CEO
Doha – Mubasher: Umm Al Houl power plant, a subsidiary of Qatar Electricity and Water Company (QEWC), currently provides around 15% of Doha’s water needs, the plant’s CEO Jamal Al-Khalaf said Thursday. We have sped up the pace of launching water …
Telecom Egypt's board approved to appoint the NBE as a loan agent for the loan
22 June 12:50 PM TE approves conditions for EGP 13bn syndicated loan
Cairo – Mubasher: Telecom Egypt (TE) said Thursday that its board of directors has approved conditions for a syndicated loan worth EGP 13 billion and to appoint the National Bank of Egypt (NBE) as a loan agent for the loan. The board agreed to …
UAE foreign investment funds rise 5.6% in 2016 – SCA
22 June 11:13 AM UAE foreign investment funds rise 5.6% in 2016 – SCA
Abu Dhabi – Mubasher: The number of foreign investment funds registered with the Securities and Commodities Authority (SCA) in the UAE increased 5.6% to reach 633 by the end of 2016, compared to 599 in 2015. Regarding the funds registered with the …
The company targets to increase revenues to EGP 10.3 billion in FY17/18
22 June 11:05 AM AMOC eyes EGP 575m profits in FY17/18
Cairo – Mubasher: Alexandria Mineral Oils Company (AMOC) seeks to achieve profits worth EGP 575.2 million in the estimated budget for fiscal year 2017/2018, compared to an estimated profit of EGP 652.4 million for FY16/17. The company targets to …
The aircraft will be received during 2017
22 June 10:55 AM Alafco seals $1.36bn deal with Kuwait Airways
Kuwait – Mubasher: Aviation Lease and Finance (Alafco) has signed final contracts for purchasing four Boeing airplanes from Kuwait Airways Corp and re-leasing them. The deal is worth $1.36 billion, Alafco said in a bourse statement issued on …
Deyaar's headquarter
22 June 09:30 AM Deyaar picks UC Forward to market properties in China
Dubai – Mubasher: Deyaar Development has signed an agreement with real estate marketing and consultancy company UC Forward to run roadshows in China, according to a statement. The agreement will help Deyaar showcase its properties to Chinese …
The new Aladdin software from SGE will control and manage maintenance across all its hotels and residences
22 June 09:22 AM Time Hotels to restructure maintenance system
Dubai – Mubasher: UAE-based Time Hotels has partnered with UAE’s SGE to restructure engineering across its GCC properties, according to a bourse statement. The new Aladdin software from SGE will control and manage maintenance across all its hotels …
Port Said, Ismailia, Suez, and Minya are among the new destinations for Careem
21 June 05:52 PM Careem plans expansion in 6 Egyptian cities
Cairo - Mubasher: The head of Careem operations in Egypt, Ramy Kato, said that his company is planning to expand in six governorates by the end of 2017. This will raise the total number of governorates in which the private transportation network …
Wafrah’s stock ended Wednesday up 1.67% to SAR 28.54
21 June 04:44 PM Wafra extends MoU with SIEC for 3M
Riyadh – Mubasher: Wafrah for Industry announced the extension of its memorandum of understanding (MoU) with the Saudi Industrial Export Company (SIEC). The agreement will be extended for three months as of 25 June upon the agreement of both …
Damac will redevelop Mina Sultan Qaboos Waterfront
21 June 04:17 PM Damac, Omran ink $1bn port renovation deal
Mubasher: Damac International announced that it has been chosen by the government of Oman to develop its Port Sultan Qaboos into a world-class, waterfront mix use destination through a joint venture with Omran, the government’s investment, growth …
UNDP to establish new investment fund in Egypt
21 June 02:58 PM UNDP to establish new investment fund in Egypt
Cairo – Egypt: The Ministry of Investment and International Cooperation signed an agreement with the United Nations Development Programme (UNDP) to establish Egypt’s first Development Investment Support Fund with a target capital of $50 million. …
A profit of KWD 320,000 will affect the financials of the second quarter
21 June 02:07 PM KFIC settles KWD 3.35m debts with client
Kuwait – Mubasher: Kuwait Finance and Investment Company (KFIC) has agreed with a client on settling and rescheduling a default of KWD 3.35 million since 2010. This debts settlement will be done through an income-generating real estate asset, as …
The purpose of the deal is to begin financial, legal, and actuarial due diligence
21 June 01:50 PM Gulf Union, Al Ahlia ink MoU on potential merger
Riyadh – Mubasher: Gulf Union Cooperative Insurance signed a non-binding memorandum of understanding (MoU) with Al Ahlia for Cooperative Insurance on Tuesday. The purpose of the deal is to begin financial, legal, and actuarial due diligence and …
Al Mazaya Holding owns a 17.5% stake in First Qatar Real Estate Development Company
21 June 12:16 PM Firm’s presence in Qatari market limited – Al Mazaya
Kuwait – Mubasher: Al Mazaya Holding announced that its presence in Qatar is limited, as it exited from its direct investment in the Qatari firm Mazaya for Real Estate Development in 2015. However, it still owns a 0.05% stake in the Qatari firm, …
The amount will be used in financing a triple treatment plant project
21 June 11:30 AM Heliopolis Housing signs EGP 100m leasing deal with GLC
Cairo – Mubasher: Heliopolis Company for Housing and Development said Wednesday that it has signed a leasing agreement worth EGP 100 million with Global Leasing Company (GLC). The amount will be used in financing a triple treatment plant project …
This strategic cooperation aims to double customers’ properties
21 June 10:54 AM Amlak partners with Dubai Land Department
Dubai – Mubasher: Amlak Finance announced its partnership with the Dubai Land Department (DLD) in a bourse statement issued on Wednesday, aimed at increasing investment traction to the Dubai real estate market.  Amlak said that this strategic …
DHL will manage stores, local transport movements, and associated supply chain planning at the Etihad hub
21 June 10:06 AM Etihad Airways Engineering partners with DHL
Abu Dhabi – Mubasher: Etihad Airways Engineering signed a letter of intent with DHL Supply Chain to outsource its entire internal logistics functions, according to a press release. Under the letter, DHL Supply Chain will manage stores, local …
Azizi Developments' headquarters
21 June 09:51 AM Azizi Developments begins work on new project
Dubai – Mubasher: Azizi Developments announced the beginning of construction works on a new residential project in Dubai, according to a bourse statement. Being part of Meydan One, the new project is valued at AED 1.7 billion. The first phase of …
One of Dana Gas' projects
21 June 08:21 AM The full story of Dana Gas and its sukuk holders
By: Mahmoud Gamal Abu Dhabi – Mubasher: Dana Gas has become a focus after it announced that its $700 million sukuk in its present form is not Sharia-compliant and unlawful under the UAE Law. The company said it will hold a phone conference with …
The Minister of Investment met with representatives from British companies operating in Egypt
20 June 06:09 PM Egypt saw $43bn of British investments last decade
Cairo - Mubasher: The Egyptian minister of investment and international cooperation said that the investments of British companies in Egypt reached $43 billion in the last ten years. Sahar Nasr added on Tuesday that British companies expressed …
The financial impact from exiting this asset will be a profit of KWD 120,000
20 June 02:04 PM Al Masaken exits KWD 1.62m asset
Kuwait – Mubasher: Al Masaken International Real Estate Development has sold a property worth KWD 1.62 million ($5.33 million), according to a bourse filing issued on Tuesday. The financial impact from exiting this asset will be a profit of KWD …
Petronet imports 8.5 million tonnes of LNG per year under long-term contracts
20 June 02:03 PM India sets conditions for LNG deals with Qatar – Reuters
Doha – Mubasher: India’s oil minister Dharmendra Pradhan on Tuesday stated that the country would sign future long-term liquefied natural gas (LNG) agreements with Qatar if the latter approves to acquire stakes in India’s power plants, Reuters …
Mubadala hoped to finalise a deal to buy 50% of the hotel group "within a matter of days”
20 June 12:48 PM Mubadala in talks to buy stake in Viceroy Hotel Group
Abu Dhabi – Mubasher: UAE state fund Mubadala Development Co is in talks with the US Department of Justice for approval to buy the rest of Viceroy Hotel Group from Jho Low, Reuters reported. Mubadala hoped to finalise a deal, which would need the …
Egypt's minister of petroleum and mineral resources Tarek El-Molla
20 June 11:34 AM Al Wadi Phosphate annual income to reach $336m - Minister
Cairo – Mubasher: Egypt's minister of petroleum and mineral resources Tarek El-Molla said Tuesday that the expected income from Al Wadi for Phosphate Industries Company is estimated at $336 million a year. El-Molla was chairing the company’s …